sir,,,
what is the difference between a corporate entity and non- corporate entity??? Small and medium sized companies come under level II & III of non-corporate entities,,, then which companies come under corporate entity...??? Please guide me
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Entities
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Those companies which are registeted under companies act 1956 are corporate entities and for them companies (accountind standard) rules 2006 are applied and rest are non corprte entites and for them ICAI has issued Accountind Standards. And both set of Acc. standrds are same. Non corprte entites Eg. LLP, partnrshp firm, huf, sole proprtrshp
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