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Accounting standard

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(Querist)
13 August 2015 Dear L'd Seniors,

Kindly advise the status of IFRS in India. Are we supposed to follow Ind-AS as of now ? What's the legal position as per Companies Act ?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
13 August 2015 till the FY 2015-16 ind as is not applicable and u need to follow current AS as followed for same
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
14 August 2015 IND AS are Applicable from 1st April 2015 in progressive Stage.

For detail you may go with icai.org, mca.
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