How to get the option for IND-AS BS and IND-AS P&L in case IND-AS is applicable on a company

In A.Y. 2018-19 the IT Department added a new schedule balance sheet - Ind AS and P&L A/c. Ind AS in ITR - 6 form.
The Part A-BS-Ind AS and Part A-P&L-Ind AS are applicable in case of a company whose financial statements are drawn up in compliance to the Indian Accounting Standards (Ind AS) specified in the annexure to the Companies (Indian Accounting Standards) Rules, 2015

To enable option for IND-AS BS and IND-AS P&L, please follow the steps provided below.

Step 1:

Open the Income Tax software - Go to Transactions → Company Information option given in the menu bar

Step 2:

Click on Company Nature button 

Step 3:

Check mark on “Are you liable to prepare financial statements  in companies to INA AS?” option

Step 4:

Now, to enter the detail for Balance sheet IND-AS and Profit & Loss IND-AS

Go to Transactions  → General information /BS/P&L

IND-AS BS and IND-AS P&L Format will get enabled.

Schedule MAT:

Below Details  to be provided for MAT if IND-AS is applicable on a company.

Go to Transactions → MAT/AMT

Enter the details for Point no. 14 and Point no. 15.

• Related Articles

• Guidance process for Notes of Accounts and Significant Accounting Policies (Non Company Case)

  How to prepare notes of accounts and significant accounting policies for non-company cases?  The disclosure of accounting policies is particularly important in situations where an organisation chooses to follow policies that are generally being used ...

• Not able to insert amount in deduction 80P (option disabled) in case of co-operative society return

  Not able to insert amount in deduction 80P (option disabled) in case of co-operative society return              Solution :  Please note deduction 80P is applicable in case of ITR5 and in case of ITR7 it will be disabled. When you create a client ...

• ITR 6 Latest Additions made as per the new changes applicable for AY 2019-2020

  ITR- 6 - New change implementation in the Income Tax Auditor for A.Y. 2019 - 2020 ITR-6 Form is exclusively used by companies which are not claiming exemption under section 11 (Income from property held for charitable or religious purposes) while ...

• How to create company?

  Once you Login on https://2a.expressgst.com/app/login website, Client Master Page opened. Just Click on Button.              Enter GSTIN User Name and GSTIN Password.              Enter Captcha Code and Save. Once Saved, Company Master created. GSTIN ...

• How to remove KDK Software's name from footer in Zen IT Computation / BS Reports

  Solution: Please note if you wish to remove our company name from footer of Computation / BS Reports (or any other reports) then I suggest you to follow the instructions below: Step 1.  Open the    "Print Preview"   of report.              Step 2.  ...