Final Report of the Committee constituted for formulating Accounting Standards for the purposes of notification u/s 145(2) of the Income-tax Act, 1961

Last updated: 27 October 2012

Section 145 (1) of the Income-tax Act, 1961 (the Act) provides that the income chargeable under the head Profits and gains of business or profession or Income from other sources shall [subject to the provisions of sub-section (2)] be computed in accordance with either cash or mercantile system
Daily Limit Reached

You have reached your daily limit of 2 Free News

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Broadcasts
  • Daily E-Newsletter
  • Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
Buy CCI PRO Now

Already a PRO member? Login here for an ad-free experience.

Attached File : 40_12344_asc_final_report_26102012.doc
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Guest

News posted by

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Recent News :

  1. CBDT Notifies ITR-BN Under Income Tax Rules 2026 for Block Assessment Cases
  2. ICAI Extends Time Limit for Transfer of Goodwill of Deceased CA Proprietor Firms from 1 Year to 3 Years
  3. Draft Insurance Rules 2026 Released: Centre Proposes Major Overhaul of 87-Year-Old Insurance Rules
  4. FM Sitharaman Calls for Greater Tax Certainty and Reduced Litigation at 167th Income Tax Day Celebration
  5. ICAI and IIPA Join Hands to Strengthen Municipal Finance, Accounting and Urban Governance
  6. Centre Notifies Additional PMLA Special Courts in Gujarat
  7. CBDT Grants Section 10(46) Exemption to District Legal Services Authority, Jind
  8. CBDT Revises 'Specified Fund' Definition Under Income Tax Act, 2025
  9. No Proposal to Scrap LTCG Tax for Retail Investors, Govt Clarifies in Lok Sabha
  10. RBI Releases Draft Foreign Investment Rules 2026, Invites Public Comments Till 31st August

More »


Popular News




Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member nitinnitinPro Member CA MAHESH MAHATOCA MAHESH MAHATOPro Member N.VENKATARAMANN.VENKATARAMANPro Member vairavvairavPro Member Venkat GarimellaVenkat Garimella
Subscribe to Pro
Join an elite circle of professionals


Browse by Category



Latest Job Openings

View all
Company
16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT , CA SemiQualifie

Vakilsearch.com

Chennai

CA Inter

View Details
Company
Featured 16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT, CA SemiQualified

Vakilsearch.com

Chennai

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
23 July 2026
Senior Accountant

Felicity Adobe LLP

Bengaluru

CA Inter

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
16 July 2026
Manager - Finance & Accounts

Aliens Group

Hyderabad

CA Final

View Details