Is Ind As made Compulsory for all persons ( person means as per Income Tax Act) or Ind As are applicable to specified entities.
Please give detailed note on Ind As applicability.
Indian Accounting Standards are applicable following manner
1) Companies then to parent Companies , Subsidiary companies , and Joint Ventures or associate Companies .( Listed & Non Listed Companies depend up on Net -Wort )
2) Banking Companies ( Listed and Non Listed companies depend up on Net worth )
3) NBFC''S ( Non Banking Financial companies ) ( Listed and Non listed Companies depends up on Net Worth )
4) Insurance Companies .
Accounting Standards are not applicable to Non -Corporate
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