ICAI issues Educational Material on Ind AS 12, Income Taxes
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- By Chetan Kulasri
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- Last Updated on 15 March, 2024
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ICAI has issued new material to educate upon the accounting for income taxes, “Educational Material on Ind AS 12, Income Taxes”. This material contains two segments one is summary of the standard and other is Frequently Asked Questions (FAQs).
This Educational Material sheds light on the fundamental accounting concepts along with the intricate concept of deferred tax assets and liabilities. The Educational Material also incorporates the latest amendments issued by the Ministry of Corporate Affairs (MCA) via Notification No. G.S.R. 242(E) dated 31.03.2023 whereby amends the Companies (Indian Accounting Standards) Rules, 2015 effective from 01.04.2023. This material also guides upon the practical application of the standard with the help of FAQs.
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