https://www.taxtmi.com/article/detailed?id=8596 The proposal relaxes the demerger requirement that resulting companies record transferred property and liabilities at the demerged company's book value where the resulting company records such items at different values in compliance with Indian Accounting Standards; the draft proviso is prospective from the assessment year after 1 April 2020. The author urges recasting the change as an Explanation and making it retrospective to the original effective date to treat the amendment as clarificatory and avoid litigation. en-us Mon, 08 Jul 2019 15:18:11 +0530 Mon, 08 Jul 2019 15:18:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8596 The proposal relaxes the demerger requirement that resulting companies record transferred property and liabilities at the demerged company's book value where the resulting company records such items at different values in compliance with Indian Accounting Standards; the draft proviso is prospective from the assessment year after 1 April 2020. The author urges recasting the change as an Explanation and making it retrospective to the original effective date to treat the amendment as clarificatory and avoid litigation. Articles Budget - Tax Proposals Mon, 08 Jul 2019 15:18:11 +0530 https://www.taxtmi.com/article/detailed?id=8596