AS 17 are applicabe to which type of enterprise?
plz help me its urgent?
AS 17(segment reportin)
(Guest)
anshul bafna
(student)
(522 Points)
Replied 07 October 2009
AS-17 is applicable on SMCs u/s 211(3C) (ONLY CORPORATE), It is optional.
SMCS are companies that meet all the following conditions, viz.,
1) The equity or debt securities of the company are not listed or in the process of listing on any stock exchange, whether in India or outside India.
2) The company is not a bank or financial institution or insurance company.
3) The company's turnover (excluding other income) does not exceed Rs. 50 crores in the immediately preceding accounting year.
4) The company does not have borrowings (including public deposits) exceeding Rs. 10 crores at any time during the immediately preceding accounting year, and
5) The company is not a holding company or subsidiary of a non-SMC company.
Regards,
Anshul G. Bafna
ash
(tr)
(266 Points)
Replied 07 October 2009
Raza .........
If ur referring to Level I / II / III Enterprises .........................
AS-17 is applicable to Level I Enterprises
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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