Income computation and disclosure standards broaden compliance by tying income computation to notified standards for tax assessment. Amendment substitutes Income Computation And Disclosure Standards for accounting standards in section 145(2) and expands section 145(3) to treat failure ... Summary
Income computation and disclosure standards broaden compliance by tying income computation to notified standards for tax assessment.
Amendment substitutes Income Computation And Disclosure Standards for accounting standards in section 145(2) and expands section 145(3) to treat failure to compute income in accordance with the standards notified under subsection (2) as a failure to comply, thereby tying assessment scrutiny to conformity with notified income computation and disclosure standards.
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