https://www.taxtmi.com/news?id=15596 Proposed amendments seek to align key statutory definitions with accounting practice by measuring significant influence and subsidiary status by total voting power rather than aggregate share capital, incorporate the IndAS 28 meaning of joint venture, omit a restrictive proviso on subsidiary layers, and provide targeted exclusions and delegated powers for financial instruments treated as debentures. Additional recommendations include clarifying turnover as revenue recognised in the profit and loss account, minor drafting fixes for net worth and holding company, selective relaxation of charge registration requirements, and retention of an inclusive definition of control. en-us Tue, 02 Feb 2016 19:20:42 +0530 Tue, 02 Feb 2016 19:20:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15596 Proposed amendments seek to align key statutory definitions with accounting practice by measuring significant influence and subsidiary status by total voting power rather than aggregate share capital, incorporate the IndAS 28 meaning of joint venture, omit a restrictive proviso on subsidiary layers, and provide targeted exclusions and delegated powers for financial instruments treated as debentures. Additional recommendations include clarifying turnover as revenue recognised in the profit and loss account, minor drafting fixes for net worth and holding company, selective relaxation of charge registration requirements, and retention of an inclusive definition of control. News - Tue, 02 Feb 2016 19:20:42 +0530 https://www.taxtmi.com/news?id=15596