Chartered Accountant’s apex body ICAI has amended Ind-AS 116. Which will be useful for lessees having a large number of lease while accounting for COVID-19 related rent. Concessions such as rent waiver and temporary rent reductions. The amend Ind-AS 116 can also applied by lessees that have not yet approved the financial statements. For the annual reporting periods beginning on or after April 1, 2019, for issue as of the date of the notification, it added.
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The blog is our key aspect at the moment, currently, it has posts from a number of industry professionals, which revolve around the Legality of a case, the Current Legal Scenario, and Rights. The plan is to provide quality blogs for both Students and Professionals and be the link during the transition phase.
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