{"id":194828,"date":"2018-04-03T17:43:25","date_gmt":"2018-04-03T12:13:25","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=194828"},"modified":"2018-04-03T17:43:25","modified_gmt":"2018-04-03T12:13:25","slug":"mca-removes-applicability-of-as-22-indian-as-12-to-certain-govt-companies","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2018\/04\/03\/mca-removes-applicability-of-as-22-indian-as-12-to-certain-govt-companies\/","title":{"rendered":"MCA removes applicability of AS 22 & Indian AS 12 to certain Govt Companies"},"content":{"rendered":"

Vide\u00a0Notification No. S.O. 529(E), dated 5th February, 2018 it was specified that provisions of Accounting Standard 22 or Indian Accounting Standard 12 relating to deferred tax asset or deferred tax liability shall not apply, for seven years to certain government companies with effect from 1st April, 2017.<\/p>\n

vide Notification No. S.O. 1965(E) dated 02.04.2018, in exercise of the powers conferred by sub-section (6) of Section 129 of the\u00a0Companies Act, 2013\u00a0(18 of 2013), the Central Government, has amended the above said notification and omitted the words \u201cseven years\u201d in the opening paragraph, which effectively means that AS 22 or Indian AS 12 will never apply to certain government companies mentioned in\u00a0Notification No S.O. 529(E), dated \u00a05th February, 2018.<\/p>\n

Ministry of Corporate Affairs<\/p>\n","protected":false},"excerpt":{"rendered":"

Vide\u00a0Notification No. S.O. 529(E), dated 5th February, 2018 it was specified that provisions of Accounting Standard 22 or Indian Accounting Standard 12 <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[29746,29748,29749,29747],"class_list":["post-194828","post","type-post","status-publish","format-standard","hentry","category-business_news","category-news","tag-accounting-standard-22","tag-deferred-tax-liability","tag-government-companies","tag-indian-accounting-standard-12"],"yoast_head":"\nMCA removes applicability of AS 22 & Indian AS 12 to certain Govt Companies | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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