Bharat Income Computation & Disclosure Standards By CA Kamal Garg
Bharat Income Computation & Disclosure Standards CA Kamal Garg
Contents
DIVISION I
Financial Reporting Framework & ICDS
Chapter 1 Financial Reporting Framework — An Introduction
Chapter 2 Income Computation and Disclosure Standards — An Introduction
Chapter 3 Rationalisation of Provisions of Section 115JB in line with Indian Accounting Standard (Ind-AS)
DIVISION II
Income Computation & Disclosure Standards
Chapter 1 Income Computation & Disclosure Standards
- Income Computation and Disclosure Standard I relating to accounting policies
- Income Computation and Disclosure Standard II relating to valuation of inventories
- Income Computation and Disclosure Standard III relating to construction contracts
- D.Income Computation and Disclosure Standard IV relating to revenue recognition
- Income Computation and Disclosure Standard V relating to tangible fixed assets
- Income Computation and Disclosure Standard VI relating to the effects of changes in foreign exchange rates
- Income Computation and Disclosure Standard VII relating to government grants
- Income Computation and Disclosure Standard VIII relating to securities
- Income Computation and Disclosure Standard IX relating to borrowing costs
- Income Computation and Disclosure Standard X relating to provisions, contingent liabilities and contingent assets
Chapter 2 Form 3CD Clause by Clause Analysis
DIVISION III
Chapter 1 Income Computation and Disclosure Standards vis-à-vis Judicial Precedents
Chapter 2 ICDS (Revised) v AS
Chapter 3 ICDS (Revised) v Ind AS
Appendix 1 Tests for Distinction between Shares held as Stock-in-Trade and Shares held as Investment
Appendix 2 Chargeable as — Distinction between Shares held as Stock-in-Trade and Shares held as Investments — Tests for such a Distinction
Appendix 3 Issue of Taxability of Surplus on Sale of Shares and Securities — Capital Gains or Business Income — Instructions in Order to Reduce Litigation
Appendix 4 Clarifications on Income Computation and Disclosure Standards (ICDS) notified under section 145(2) of the Income-tax Act, 1961
About Author
CA Kamal Garg [B. Com (H), FCA, DISA (ICAI)] is a Fellow Member of The Institute of Chartered Accountants of India (ICAI) and a First Class Commerce Baccalaureate from Deen Dayal Upadhyaya College, University of Delhi. He is also the member of Board of Studies (BOS) Study Material Research Group of NIRC of ICAI and a special invitee member of Accounting Standards Board (ASB) of ICAI. He has also been acknowleged by BOS of ICAI for his efforts for reviewing Advanced Auditing Study Material for CA Final Course of ICAI.Besides being a regular guest speaker for IFRS and Management Development Programmes at IBC & PKG, Mumbai, ICAI, ICSI, Direct Taxes Regional Training Institute (North-West Region) for Income Tax Inspectors training programme, he is also an author of over dozens of book(s) including Guide to Tax Audit u/s 44AB Foreign Direct Investments in India IFRS Concepts and Applications Accounting Standards and IFRS Auditor Practice Manual Handbook on Company s Balance Sheet and Profit & Loss Account under Revised Schedule VI and XBRL Handbook on Internal Auditing, Consolidated Financial Statements Interim Financial Reporting Understanding Goods and Service Tax (GST) Professional Approach to Advanced Auditing for CA (Final) studies and Systematic Approach to Auditing for CA (PCC) studies published by Bharat Law House Private Limited.
He possesses a rich industry experience in the areas of Corporate Laws (like Companies Act, FEMA, Taxation, Foreign Collaborations, Joint Ventures, etc.), Audits and Management Consultancy
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