The Finance Bill, 2017 – a financial reporting perspective

The Finance Bill, 2017 – a financial reporting

On 1 February 2017, the Finance Minister presented the Finance Bill, 2017 (the Bill) which contains a number of proposals.

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On 1 February 2017, the Finance Minister presented the Finance Bill, 2017 (the Bill) which contains a number of proposals. This issue of IFRS Notes provides a detailed analysis and certain matters that should be considered on the following topics:

  • Computation of book profit for Ind AS compliant companies for the purpose of levy of Minimum Alternate Tax (MAT) under Section 115JB of the Income Tax Act, 1961
  • Income Computation and Disclosure Standards
  • Change in base of cost inflation index from 1 April 1981 to 1 April 2001
  • MAT credit allowed to be carried forward to 15 Assessment Years.

To access the text of the Finance Bill, 2017, please click here.

 

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