Is Ind As made Compulsory for all persons ( person means as per Income Tax Act) or Ind As are applicable to specified entities.
Please give detailed note on Ind As applicability.
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Applicability of Accounting Standards
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Indian Accounting Standards are applicable following manner
1) Companies then to parent Companies , Subsidiary companies , and Joint Ventures or associate Companies .( Listed & Non Listed Companies depend up on Net -Wort )
2) Banking Companies ( Listed and Non Listed companies depend up on Net worth )
3) NBFC''S ( Non Banking Financial companies ) ( Listed and Non listed Companies depends up on Net Worth )
4) Insurance Companies .
Accounting Standards are not applicable to Non -Corporate
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