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Jan 23, 2015
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New tax computation norms from FY16
A new set of norms for tax computation released by the government have addressed many concerns of the corporate India about the tax implications of a proposed shift to the corporate accounting based on fair value concept. But in many cases, it might reduce companies’ flexibility with regard to income/loss recognition in specific assessment years and impact timing of tax-related cash outflows.
Source -
http://www.financialexpress.com
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