Change in as
This query is : Resolved
20 May 2016
In AY 2013-14, a Company changes its accounting policy and adopts(though not mandatory) AS 30 . Due to aforesaid change(adoption of AS 30) the loss for the year under consideration increased. In view of the provisions of Section 145 of the Income Tax Act, whether the change in accounting policy(adoption AS 30), particularly loss occured due to change would be allowable for the computation of tax liablity or not.
Rupesh Jain
(Expert)
20 May 2016
you have to intimate in your accounting policy and also to income tax deptt in income tax return filing.
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