MCA Revises Indian Accounting Standards Rules : Key Changes for 2024 [Read Notification]
The primary update involves the treatment of leaseback transactions. A new paragraph, 102A, has been added to Ind AS 116, mandating that after the commencement date, seller-lessees must apply specific paragraphs (29–35 and 36–46) to right-of-use assets and lease liabilities arising from sale and leaseback transactions.
By Navasree A.M - On September 10, 2024 3:07 pm - 2 mins read
The Ministry of Corporate Affairs ( MCA ) has revised the Indian Accounting Standards with the notification of the Companies (Indian Accounting Standards) Second Amendment Rules, 2024, effective from the date of publication in the official gazette. This amendment, made under the powers conferred by section 133 and section 469 of the Companies Act, 2013,…
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