On 04.12.10, In Accounts, by hemantmadhusudan
ICAI has issued an Exposure draft on AS 4- Events after the Reporting Period corresponding to IAS 10. We all know that ICAI is in the process to converge with the IFRS. IFRS is going to be applicable from 1st April 2011 for public interest entity. ICAI is moving rapidly in the process of convergence and the exposure draft is another step ahead towards this.
On 05.06.10, In Law, by hemantmadhusudan
The Company Bill 2009 proposes some significant provisions which are of national importance which will enable the corporate sector in India to operate in a regulatory environment following best international practices that foster entrepreneurship, investment and growth.
On 24.03.10, In Tax, by hemantmadhusudan
Minimum Alternate Tax (MAT) is payable by companies. The MAT rate for A.Y. 11-12 is 18%. Though there has been a consistent demand from companies from various sectors for its removal, the Government continues with this tax.
The article covers MAT in full detail. It also discusses about accounting aspects of MAT. MAT under Direct Tax Code has also been discussed in the article.