Difference between corporate and non corporate entities
This query is : Resolved
Quick Summary
ashutosh pandey
(Querist)
30 January 2015
dear sir
what is the difference between corporate entities and non corporate entities .
what is the difference between corporate entities and non corporate entities .
30 January 2015
corporates are those who are company registered either under co act 1956 or under 2013.
all other entities are non corporate entities.
all other entities are non corporate entities.
Message likes :
6 times
ashutosh pandey
(Querist)
30 January 2015
sir why accounting standards apply to non corporate entities only?
CA NAVEEN SINGLA
(Expert)
30 January 2015
Accounting standards are applicable only to Corporate Entities not to non corporate Entities.
30 January 2015
even if small proportion of activities of non corporate entities are having any business aspect then all applicable accounting standard shall also apply to non corporate entities.
Message likes :
1 times
CA NAVEEN SINGLA
(Expert)
30 January 2015
Can you please refer any clarification/notification for the same.
30 January 2015
https://mhrd.gov.in/sites/upload_files/mhrd/files/document-reports/Report_IASEI_0.pdf
refer page 4 in link just above the point no 2 background in this link.
this link says even if small proportion of activities of non profit organisation has business activites then it is applicable.
refer page 4 in link just above the point no 2 background in this link.
this link says even if small proportion of activities of non profit organisation has business activites then it is applicable.
Message likes :
1 times
CA NAVEEN SINGLA
(Expert)
30 January 2015
Tushar Sir, Thanks a lot for sharing this link.
03 February 2015
You are welcome navin.............
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
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Under marginal scheme
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
