AS- 11 notification amended

This query is : Resolved

Rider ride (Querist)
Follow

06 February 2010 Hello
My query is that whether the AS-11 notification issued in April '09 has been withdrawn or amended ?
if yes , then what is impact of it on co.s who had exercised that option ?

thanks

DEEPIKA GOEL

DEEPIKA GOEL (Expert)
Follow

07 February 2010 AS-11 notification has not been withdrawn which has been issued in april 2009.

According to AS-11 notification, foreign exchange differences can be capitalised in case of long term foreign currency monetary items upto 31.03.2011 and depreciation can be claimed on it as opposed to AS-11 which talks about not to capitalise the foreign exchange difference on non-monetary items.

After 31.03.2011, the exchange differences cannt be capitalised as from the 01.04.2011, IFRS going to apply

Any amount which has been capitalised under the above notification have to amortise in the year ended 31.03.2011.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

kavita goel

avulaandcopdrl 2023

divakar podaturu

Ashok Atluri

CA Reshma prabhu

Subscribe Now

AS- 11 notification amended

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA