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of <h1>India exempts select companies from certain profit and loss disclosures under Companies Act, 1956, with specific conditions.</h1> The Government of India, under Section 211 of the Companies Act, 1956, exempts certain companies from disclosing specific details in their profit and loss accounts, effective for financial years ending on or after March 31, 2011. The exemptions apply to companies in defense equipment, export-oriented, shipping, hotel, manufacturing, and trading sectors, subject to conditions such as board consent, disclosure of exemption in financial notes, adherence to accounting standards, and maintaining accurate financial records. For manufacturing and trading companies, the exemption is limited to goods comprising less than ten percent of total turnover or raw material consumption.
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