Exemption to Government Companies under section 129(6) of Companies Act, 2013 from recognizing Deferred Tax Assets/ Deferred Tax Liability under AS-22/Ind AS-12

Exemption to Government Companies under section 129(6) of Companies Act, 2013 from recognizing Deferred Tax Assets/ Deferred Tax Liability under AS-22/Ind AS-12 https://www.taxtmi.com/notifications?id=124069 The Central Government exempts specified Government companies from the application of Accounting Standard 22 or Indian Accounting Standard 12 on deferred tax asset and deferred tax liability, under sub-section (6) of Section 129 of the Companies Act, 2013; the exemption applies to government companies that are public financial institutions or RBI-registered NBFCs engaged in infrastructure finance leasing with the bulk of revenue derived from business with Government-owned or controlled entities. en-us Mon, 05 Feb 2018 00:00:00 +0530 Tue, 03 Apr 2018 11:58:00 +0530 TaxTMI RSS Generator Exemption to Government Companies under section 129(6) of Companies Act, 2013 from recognizing Deferred Tax Assets/ Deferred Tax Liability under AS-22/Ind AS-12 https://www.taxtmi.com/notifications?id=124069 The Central Government exempts specified Government companies from the application of Accounting Standard 22 or Indian Accounting Standard 12 on deferred tax asset and deferred tax liability, under sub-section (6) of Section 129 of the Companies Act, 2013; the exemption applies to government companies that are public financial institutions or RBI-registered NBFCs engaged in infrastructure finance leasing with the bulk of revenue derived from business with Government-owned or controlled entities. Notifications Companies Law Mon, 05 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=124069