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Apr 1, 2016

Companies With Over Rs 500 Crore Net-Worth Now to Follow New Accounting Rules

It  was introduced for being  implementation in phases, for its  adoption , for companies other than banks, insurers and non-banking finance companies (NBFCs).

a.First Phase – It will include all companies having a networth of over Rs. 500 crore with period beginning on or after April 1, 2016,

b.Second Phase – With effect from April 1, 2017all listed companies having a networth of less than Rs. 500 crore and unlisted companies having networth greater than Rs. 250 crore and less than Rs. 500 crore.

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