Starting from 1st April 2016, mandatory adoption of Ind-AS

Starting from 1st April 2016, mandatory adoption of Ind-AS, would be required for all companies, having net-worth of INR 500 crores or more. The holding, subsidiary, joint-venture or associate companies (‘affiliates’) of such company covered above would also have to adopt Ind-AS starting
from 1 April 2016. The comparatives for such financial statements will be period ending 31st March 2016 or thereafter. Hence, companies need to revise their disclosure.