IFRS AND DIRECT TAX CODE

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Ritin Kharbanda (Querist)
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18 November 2009 Dear Experts,

My CA Final exms are in MAY 2011.

and I m going to start my preprations. So pls tell me whether I should read AS and Income tax act1961 as IFRS and Direct tax code will be made applicable from April 2011..

Pls advice..

Thanx and Regards
Ritin Kharbanda
CA (FINAL), CS (EXEC PRG)

shakuntala chhangani

shakuntala chhangani (Expert)
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18 November 2009 Hi Ritin, till now we don't know for which companies IFRS will be applicable, what will be the capital requirements etc. secondly, IFRS are not totally different from AS ofcourse at some points both will differ. So its better you start with AS. It will give you the required base. Regards, CA Shakuntala Chhangani

Ritin Kharbanda

Ritin Kharbanda (Querist)
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19 November 2009 And what about INCOME TAX ACT 1961 ??

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shakuntala chhangani

shakuntala chhangani (Expert)
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19 November 2009 see, the whole Act will not change. only few provisions will change. start with d chapters like MAT, Wealth tax,Capital gains