{"id":520,"date":"2014-12-20T00:00:00","date_gmt":"2014-12-19T18:30:00","guid":{"rendered":""},"modified":"2015-12-30T11:30:17","modified_gmt":"2015-12-30T06:00:17","slug":"international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/","title":{"rendered":"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis"},"content":{"rendered":"<p><span style=\"text-align:justify\">The Finance Minister in the Budget speech 2014-15 announced that the Indian Accounting Standards (Ind AS) i.e. accounting standards based largely on with International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis. Implementation of Ind AS for banks, insurance companies and NBFC\u2019s shall be announced at a later date by their respective regulators. Necessary steps to implement this decision are under way.&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\">\n<\/div>\n<div style=\"text-align:center\">*******<\/div>\n<div style=\"text-align:justify\">\n<\/div>\n<p><span style=\"text-align:justify\">DSM\/KA\/\/rs&nbsp;<\/span><\/p>\n<div style=\"text-align:justify\"><\/div>\n<p><span style=\"text-align:justify\">(Release ID :113814)<\/span>   <\/p>\n<div><span style=\"text-align:justify\"><br \/><\/span><\/div>\n<div><span style=\"text-align:justify\">Source:PIB<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Minister in the Budget speech 2014-15 announced that the Indian Accounting Standards (Ind AS) i.e. accounting standards based largely on with International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis. Implementation of Ind AS for banks, insurance companies and &#8230; <a title=\"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis\" class=\"read-more\" href=\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/\" aria-label=\"More on International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[8],"tags":[179],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis - All About Finance\" \/>\n<meta property=\"og:description\" content=\"The Finance Minister in the Budget speech 2014-15 announced that the Indian Accounting Standards (Ind AS) i.e. accounting standards based largely on with International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis. Implementation of Ind AS for banks, insurance companies and ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/\" \/>\n<meta property=\"og:site_name\" content=\"All About Finance\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-19T18:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-12-30T06:00:17+00:00\" \/>\n<meta name=\"author\" content=\"Taxclick Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Taxclick Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/\"},\"author\":{\"name\":\"Taxclick Team\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227\"},\"headline\":\"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis\",\"datePublished\":\"2014-12-19T18:30:00+00:00\",\"dateModified\":\"2015-12-30T06:00:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/\"},\"wordCount\":137,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/taxclick.org\/#organization\"},\"keywords\":[\"IFRS\"],\"articleSection\":[\"IFRS\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/\",\"url\":\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/\",\"name\":\"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis - All About Finance\",\"isPartOf\":{\"@id\":\"https:\/\/taxclick.org\/#website\"},\"datePublished\":\"2014-12-19T18:30:00+00:00\",\"dateModified\":\"2015-12-30T06:00:17+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/taxclick.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/taxclick.org\/#website\",\"url\":\"https:\/\/taxclick.org\/\",\"name\":\"All About Finance\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/taxclick.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/taxclick.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/taxclick.org\/#organization\",\"name\":\"All About Finance\",\"url\":\"https:\/\/taxclick.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png\",\"contentUrl\":\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png\",\"width\":235,\"height\":68,\"caption\":\"All About Finance\"},\"image\":{\"@id\":\"https:\/\/taxclick.org\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227\",\"name\":\"Taxclick Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g\",\"caption\":\"Taxclick Team\"},\"description\":\"This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.\",\"url\":\"https:\/\/taxclick.org\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis - All About Finance","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/","og_locale":"en_US","og_type":"article","og_title":"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis - All About Finance","og_description":"The Finance Minister in the Budget speech 2014-15 announced that the Indian Accounting Standards (Ind AS) i.e. accounting standards based largely on with International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis. Implementation of Ind AS for banks, insurance companies and ... Read more","og_url":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/","og_site_name":"All About Finance","article_published_time":"2014-12-19T18:30:00+00:00","article_modified_time":"2015-12-30T06:00:17+00:00","author":"Taxclick Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Taxclick Team","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/#article","isPartOf":{"@id":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/"},"author":{"name":"Taxclick Team","@id":"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227"},"headline":"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis","datePublished":"2014-12-19T18:30:00+00:00","dateModified":"2015-12-30T06:00:17+00:00","mainEntityOfPage":{"@id":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/"},"wordCount":137,"commentCount":0,"publisher":{"@id":"https:\/\/taxclick.org\/#organization"},"keywords":["IFRS"],"articleSection":["IFRS"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/","url":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/","name":"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis - All About Finance","isPartOf":{"@id":"https:\/\/taxclick.org\/#website"},"datePublished":"2014-12-19T18:30:00+00:00","dateModified":"2015-12-30T06:00:17+00:00","breadcrumb":{"@id":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/taxclick.org\/type\/ifrs\/international-financial-reporting-standards-ifrs-shall-be-applied-by-indian-companies-from-f-y-2015-16-voluntarily-and-from-f-y-2016-17-on-a-mandatory-basis\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/taxclick.org\/"},{"@type":"ListItem","position":2,"name":"International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis"}]},{"@type":"WebSite","@id":"https:\/\/taxclick.org\/#website","url":"https:\/\/taxclick.org\/","name":"All About Finance","description":"","publisher":{"@id":"https:\/\/taxclick.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/taxclick.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/taxclick.org\/#organization","name":"All About Finance","url":"https:\/\/taxclick.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/taxclick.org\/#\/schema\/logo\/image\/","url":"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png","contentUrl":"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png","width":235,"height":68,"caption":"All About Finance"},"image":{"@id":"https:\/\/taxclick.org\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227","name":"Taxclick Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/taxclick.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g","caption":"Taxclick Team"},"description":"This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.","url":"https:\/\/taxclick.org\/author\/admin\/"}]}},"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"yarpp-thumbnail":false},"uagb_author_info":{"display_name":"Taxclick Team","author_link":"https:\/\/taxclick.org\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"The Finance Minister in the Budget speech 2014-15 announced that the Indian Accounting Standards (Ind AS) i.e. accounting standards based largely on with International Financial Reporting Standards (IFRS) shall be applied by Indian Companies from F.Y. 2015-16 voluntarily and from F.Y. 2016-17 on a mandatory basis. Implementation of Ind AS for banks, insurance companies and&hellip;","_links":{"self":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/520"}],"collection":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/comments?post=520"}],"version-history":[{"count":0,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/520\/revisions"}],"wp:attachment":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/media?parent=520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/categories?post=520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/tags?post=520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}