https://www.taxtmi.com/circulars?id=8645 The circular amends user eligibility for cost reduction structures in OTC foreign exchange derivatives and overseas commodity hedging by distinguishing listed corporate groups from unlisted companies and increasing the minimum net worth threshold for unlisted entities; eligible users must fair value relevant products at each reporting date, comply with applicable accounting standards and ICAI guidance applying prudence (recognising expected losses and not recognising unrealised gains), make prescribed financial statement disclosures, and maintain a risk management policy explicitly permitting such structures. The accounting treatment is transitional until AS 30/32 or equivalent standards are notified. en-us Mon, 16 May 2011 00:00:00 +0530 Mon, 16 May 2011 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8645 The circular amends user eligibility for cost reduction structures in OTC foreign exchange derivatives and overseas commodity hedging by distinguishing listed corporate groups from unlisted companies and increasing the minimum net worth threshold for unlisted entities; eligible users must fair value relevant products at each reporting date, comply with applicable accounting standards and ICAI guidance applying prudence (recognising expected losses and not recognising unrealised gains), make prescribed financial statement disclosures, and maintain a risk management policy explicitly permitting such structures. The accounting treatment is transitional until AS 30/32 or equivalent standards are notified. Circulars FEMA Mon, 16 May 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8645