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Special Session: Accounting issues for technology sector in relation to taxation matters

Special Session: Accounting issues for technology

Continuing with the series of special sessions, this session focussed on the technology sector.

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Continuing with the series of special sessions, this session focussed on the technology sector. In the session we discussed some of the significant accounting issues arising due to recent developments in taxation matters, with the help of practical examples and case studies.

Some of the issues that were discussed are as follows:

  • Accounting of change in tax rates
  • Potential issues in interpreting SEZ reinvestment reserve under Section 10AA of the Income-tax Act, 1961
  • Accounting treatment for Research and Development (R&D) tax credits
  • Applicability and accounting of Place of Effective Management (POEM) in certain situations
  • Accounting for interest expense or penalty in an uncertain tax position

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