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Ifrs in india...

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(Querist)
22 April 2014 Hi friends,

greeting of today,

I want to know IFRS is now applicable to India with converged system and also I went through with notifiaction of phased manner...but i am confused about whether insurance co..listed co..already adopted converged system or waiting for MCA notification...pls solve this query ...what is current status of IFRS in India...
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Amit Ashok Chawla

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Amit Ashok Chawla (Expert)
07 June 2014 Hi Rahul,

Many companies (Infosys, Airtel, TATA Group_ in India are already on IFRS. Though there is no compulsion on these companies to opt for IFRSs, they still submit their numbers under IFRSs (outside India). IFRSs would come in the name of IND-AS in India and will be applicable starting 1st April 2015. For more information, you can visit www.avcls.com
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