Rule - 5, Companies (Accounting Standards) Rules, 2021
Rule - 5, Companies (Accounting Standards) Rules, 2021
Qualification for exemption or relaxation in respect of SMC
An existing company which was previously not a Small and Medium Sized Company (SMC) and subsequently becomes a SMC, shall not be qualified for exemption or relaxation in respect of Accounting Standards avaliable to a SMC until the company remains a SMC for two consecutive accounting periods.
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