TaxTMI 
TaxTMI 
Applicability of Indian Accounting Standard (IND AS)
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....pplicability of Indian Accounting Standard (IND AS) <br>News and Press Release<br>Dated:- 10-6-2015<br><BR>Applicability of Indian Accounting Standard (IND AS) Specific Exempt companies * Insurance companies * Banking companies * NBFCs Even these companies are not allowed to voluntarily adopt IND AS. Covered companies (Summary) S. NO. Class of companies Particulars Applicable w.e.f. ....
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.... Remark 1 Any company Voluntarily 01/04/2015 * Non reversible decision / irrevocable * Need to be followed consistently 2 All listed companies or companies in process of listing in India or abroad Net worth > = 500 crores 01/04/2016 * Criteria need to be checked only at first time adoption i.e. in 1st year only. All other companies i.e. unlisted companies Net worth >= 500 crores 0....
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....1/04/2016 * Criteria need to be checked only at first time adoption i.e. in 1st year only. Holding company, Subsidiaries , Joint ventures or associate companies of above mentioned companies No such condition 01/04/2016 * Not covered overseas subsidiaries, joint ventures, associates or any other similar entities of an Indian company * IND As will be applicable on Consolidated financials of....
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.... such Indian company * In case of vice versa case, IND AS will be applicable on Indian subsidiary, joint venture, associate or similar entities of a foreign company 3 All listed companies or companies in process of listing in India or abroad Net worth < 500 crores 01/04/2017 * Criteria need to be checked only at first time adoption i.e. in 1st year only. All other companies i.e. unlisted ....
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....companies Net worth >= 250 crores <500 crores 01/04/2017 * Criteria need to be checked only at first time adoption i.e. in 1st year only. Holding company, Subsidiaries , Joint ventures or associate companies of above mentioned companies No such condition 01/04/2017 * Not covered overseas subsidiaries, joint ventures, associates or any other similar entities of an Indian company * IND As....
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.... will be applicable on Consolidated financials of such Indian company * In case of vice versa case, IND AS will be applicable on Indian subsidiary, joint venture, associate or similar entities of a foreign company<BR> News - Press release - PIB....