{"id":2237,"date":"2012-10-26T18:07:56","date_gmt":"2012-10-26T18:07:56","guid":{"rendered":"http:\/\/www.itatonline.org\/info\/?p=2237"},"modified":"2012-10-26T18:07:56","modified_gmt":"2012-10-26T18:07:56","slug":"download-tax-accounting-standards-issued-by-the-cbdt","status":"publish","type":"post","link":"https:\/\/itatonline.org\/info\/download-tax-accounting-standards-issued-by-the-cbdt\/","title":{"rendered":"Download \u201cTax Accounting Standards\u201d Issued By The CBDT"},"content":{"rendered":"<p>Pursuant to s. 145 (1) of the Income-tax Act, 1961 which provides that \u201c<em>Profits and gains of business or profession<\/em>\u201d &#038; \u201c<em>Income from other sources<\/em>\u201d shall be computed in accordance with Accounting Standards notified by the Central Government, the CBDT had set up a high-powered committee to draft the Accounting Standards. The Committee has prepared the said \u201c<strong>Tax Accounting Standards<\/strong>\u201d and invited comments from all professionals by 26.11.2012. <\/p>\n<p>The draft Tax Accounting Standards deal with the following 14 important issues:<\/p>\n<p>1. Disclosure of Accounting Policies<br \/>\n2. Valuation of Inventories<br \/>\n3. Events Occurring After the Previous Year<br \/>\n4. Prior Period Items<br \/>\n5. Construction Contracts<br \/>\n6. Revenue Recognition<br \/>\n7. Accounting for Tangible Fixed Assets<br \/>\n8. The Effects of Changes in Foreign Exchange Rates<br \/>\n9. Government Grants<br \/>\n10. Securities<br \/>\n11. Borrowing Costs<br \/>\n12. Leases<br \/>\n13. Intangible Assets<br \/>\n14. Provisions, Contingent Liabilities and Contingent Assets<\/p>\n<div class=\"journal2\">\n<p><img decoding=\"async\" src=\"https:\/\/itatonline.org\/info\/wp-content\/plugins\/wp-downloadmanager\/images\/ext\/pdf.gif\" alt=\"\" title=\"\" style=\"vertical-align: middle;\" \/>&nbsp;&nbsp;<strong><a href=\"https:\/\/itatonline.org\/info\/download\/tax_accounting_standards_draft_cbdt.pdf\">\"Tax Accounting Standards\" Final Report Issued By The CBDT<\/a><\/strong> (573.5 KiB, 10,271 hits)<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pursuant to s. 145 (1) of the Income-tax Act, 1961 which provides that \u201c<em>Profits and gains of business or profession<\/em>\u201d &#038; \u201c<em>Income from other sources<\/em>\u201d shall be computed in accordance with Accounting Standards notified by the Central Government, the CBDT had set up a high-powered committee to draft the Accounting Standards. The Committee has prepared the said \u201c<strong>Tax Accounting Standards<\/strong>\u201d and invited comments from all professionals by 26.11.2012<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/info\/download-tax-accounting-standards-issued-by-the-cbdt\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,7],"tags":[],"class_list":["post-2237","post","type-post","status-publish","format-standard","hentry","category-all-information","category-others"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/2237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/comments?post=2237"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/2237\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/media?parent=2237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/categories?post=2237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/tags?post=2237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}