During this quarter, we witnessed around 560 deals valued at approximately USD 29.3 billion compared to 690 deals valued at USD 16 billion during the same quarter in 2015, giving a boost to the total deal landscape in this year significantly on account of certain big ticket transactions. M&As have contributed to more than 80% of the total deal landscape in this quarter with major deals taking place in the domestic segment on account of consolidation and synergies of combination.
Tax on income is an area of key interest to the Exchequer. In modern day financial statements, income tax has substantial implications on profitability and overall reporting. Under the Indian GAAP, accounting for taxes on income was governed by the Accounting Standard (AS) 22 (Accounting for Taxes on Income). With the Ministry of Corporate Affairs notifying the Indian Accounting Standards (Ind AS) for a select set of companies, Ind AS 12 – Income Taxes shall be the guideline prescribing accounting principles for income tax.
The Ministry of Corporate Affairs (MCA) vide its notification dated 26 December 2016 has notified sections 248 to 252 of the Companies Act, 2013 (Act) dealing with the removal of the name of the company from the register of companies. By the notification dated 28 December 2016, it has also notified the Companies...