https://www.taxtmi.com/notifications?id=12711 Notification prescribes mandatory accounting standards for assessees under section 145(2) requiring disclosure of all significant accounting policies in the financial statements, aiming to present a true and fair view guided by prudence, substance over form and materiality. Material changes in policies or estimates must be disclosed and their impact shown; effects not ascertainable must be indicated. Prior period items and extraordinary items must be separately disclosed with nature and amount, and questions whether a change is a policy or an estimate are to be referred to the Board. en-us Thu, 25 Jan 1996 00:00:00 +0530 Sat, 14 Sep 2019 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=12711 Notification prescribes mandatory accounting standards for assessees under section 145(2) requiring disclosure of all significant accounting policies in the financial statements, aiming to present a true and fair view guided by prudence, substance over form and materiality. Material changes in policies or estimates must be disclosed and their impact shown; effects not ascertainable must be indicated. Prior period items and extraordinary items must be separately disclosed with nature and amount, and questions whether a change is a policy or an estimate are to be referred to the Board. Notifications Income Tax Thu, 25 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/notifications?id=12711