Applicability of ind as

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Jyoti (Querist)
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10 July 2014 In the budget announced today, has the adoption of Indian accounting standards converged with IFRS made mandatory from FY 17?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 July 2014 the ans is no as there is no such announcment.

Jyoti

Jyoti (Querist)
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10 July 2014 Just to clarify, the announcement is very much part of the budget speech. And adoption of IFRS onverged standards is recommendatory from FY 2015-16 and mandatory from FY 2016-17. please revisit the budget speech.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 July 2014 but yet there is no annuncement for effective date of such announcement of applicability of ind as and its still recommendary...i have the full budget speech in my hand....

Jyoti

Jyoti (Querist)
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10 July 2014 Recommendatory from FY 2015-16 and mandatory from FY 2016-17. This is also in line with the MCA's notification.