applicabiity of AS to Charitable organisation
This query is : Resolved
09 July 2008
1.As per AS compendium only AS 1,4,6,7& 10 are compulsary .Whether other AS are mandatory on the basis of scope specified in them?
2.Whether AS other than mandatory are applcable to Charitable organisation.?
As per AS Compendium AS are applicable to enterprise but it does not talk about the objective of enterprise.Hence,even if a charitable organisation carried on a business activity it is not exempted from AS.BUT WHETHER AS OTHER THAN MANDATORY LIKE AS 15,19 ,29 ARE APLLICABLE TO SUCH ORGANISATION
2.Whether AS other than mandatory are applcable to Charitable organisation.?
As per AS Compendium AS are applicable to enterprise but it does not talk about the objective of enterprise.Hence,even if a charitable organisation carried on a business activity it is not exempted from AS.BUT WHETHER AS OTHER THAN MANDATORY LIKE AS 15,19 ,29 ARE APLLICABLE TO SUCH ORGANISATION
09 July 2008
Yes, AS as applicable to other enterprises will also apply to a Charitable Organisation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Error in uploading Form 10BD
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Gst on travel by air for business purposes
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Traces submitting correction statement error
- Banking Related Issue
- Residential status of non resident
- Mistake in e-invoice identified after 24 hours
- Short Term Gain Reporting ITR
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- ITR 44AD SECTION
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- Query regarding reporting of exempt foreign remuneration in ITR
- INWARD REMITTANCE FOREIGN
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
