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MCA exempts LIC & NBFCs from application of AS 22 for 7 years w.e.f. 1st April, 2017

February 6, 2018
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The Ministry of Corporate Affairs (MCA) has exempted certain class of Government companies, including LIC and NBFCs from application of provisions of AS 22 and Ind AS 12 relating to deferred tax asset or deferred tax liability.
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