An impediment to IFRS has been removed in India

12/3/2012 | MoneyControl.com (India)

India has yet to implement International Financial Reporting Standards released in February 2011. One reason for the delay, a lack of clarity on taxation, has been addressed through a report issued by a committee formed by the Finance Ministry. The committee has recommended that the accounting standards be modified and issued separately as "Tax Accounting Standards."

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MoneyControl.com (India)