Finance Bill 2017

Finance Bill 2017, while proposing the amendments u/s 115JB has considered the above requirements of Indian Accounting Standards and accordingly proposed the following amendments: Clause 47(ii) of  Finance Bill 2017: In Section 115JB of the Income-tax Act, 1961after sub section 2, the following sub-section shall be inserted (relevantextract). (2A) For a company whose financial statements are drawn up in compliance to the Indian Accounting Standards specified in Annexure to the Companies (Indian Accounting Standards) Rules, 2015.


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