@mudraforge/statutory 2.11.0 → 2.12.1

package/okf/corporate_ma_restructuring/impairment_of_assets_indas_36/circulars/mca_notification_indas_36_impairment.md

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+---
+id: mca_notification_indas_36_impairment
+title: MCA Notification G.S.R. 111(E): Companies (Indian Accounting Standards) Rules, 2015 notifying Ind AS 36
+authority: Ministry of Corporate Affairs (MCA), Government of India
+date: 2015-02-16
+statutory_section: Ind AS 36 read with Section 133 of Companies Act, 2013
+valid_from: 2015-04-01
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://www.mca.gov.in/content/mca/global/en/acts-rules/ebooks/accounting-standards.html
+---
+
+# Ministry of Corporate Affairs — Notification G.S.R. 111(E)
+
+## Companies (Indian Accounting Standards) Rules, 2015: Ind AS 36
+
+**Authority**: Ministry of Corporate Affairs, New Delhi  
+**Effective Date**: 1st April, 2015  
+**Applicability**: Mandatory for all companies governed by Ind AS under Section 133 of the Companies Act, 2013  
+
+### Statutory Objective
+The Central Government notified the **Indian Accounting Standard (Ind AS) 36: Impairment of Assets**, converging with **IAS 36** and aligned with **US GAAP ASC Topics 360 and 350**. Ind AS 36 establishes procedures that an entity applies to ensure that its assets are carried at no more than their recoverable amount.
+
+### Primary Recognition & Measurement Principles
+
+1. **Identifying an Asset That May Be Impaired (Paragraphs 7–17)**
+   - External sources of information: significant decline in asset market value, adverse technological/market/economic/legal changes, market interest rate increases reducing discount rates, carrying amount of company net assets exceeding market capitalization.
+   - Internal sources of information: obsolescence or physical damage, discontinued operations or restructuring, economic performance worse than expected.
+   - Mandatory annual testing regardless of indicators for goodwill and intangible assets with indefinite useful lives.
+
+2. **Measuring Recoverable Amount (Paragraphs 18–57)**
+   - Recoverable amount is the **higher of** an asset's or CGU's **fair value less costs of disposal** and its **value in use**.
+   - If either exceeds carrying amount, the asset is not impaired and calculation of the other amount is unnecessary.
+   - Value in Use: Reflects estimated future cash flows, expectations about possible variations, time value of money (pre-tax discount rate), and price for bearing uncertainty.
+
+3. **Recognizing and Allocating an Impairment Loss (Paragraphs 58–108)**
+   - If recoverable amount < carrying amount, reduce carrying amount to recoverable amount and recognize an **impairment loss immediately in profit or loss**.
+   - For a Cash-Generating Unit (CGU), the impairment loss shall be allocated:
+     1. First, to reduce the carrying amount of any **goodwill** allocated to the CGU.
+     2. Second, to the **other assets of the unit pro-rata** on the basis of the carrying amount of each asset.
+   - Constraint: In allocating an impairment loss, the carrying amount of an asset shall not be reduced below the highest of its fair value less costs of disposal (if measurable), its value in use (if determinable), and zero.
+
+4. **Reversing an Impairment Loss (Paragraphs 109–125)**
+   - An impairment loss recognized for **goodwill shall never be reversed** in a subsequent period.
+   - For other assets, an impairment loss recognized in prior periods is reversed only if there has been a change in estimates used to determine the recoverable amount. The increased carrying amount cannot exceed the carrying amount that would have been determined (net of amortization/depreciation) had no impairment loss been recognized.

package/okf/corporate_ma_restructuring/impairment_of_assets_indas_36/forms/cgu_impairment_testing_register.json

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+{
+  "formId": "INDAS_36_CGU_IMPAIRMENT_TESTING_REGISTER",
+  "title": "Ind AS 36 / IAS 36 Cash-Generating Unit (CGU) Impairment Testing & Goodwill Allocation Register",
+  "governingStandard": "Ind AS 36 read with IAS 36 and US GAAP ASC 360/350",
+  "authority": "Ministry of Corporate Affairs (MCA) & ICAI",
+  "version": "2.11.0",
+  "schema": {
+    "reportingEntity": {
+      "corporateIdentityNumber": { "type": "string", "required": true },
+      "companyName": { "type": "string", "required": true },
+      "evaluationDate": { "type": "string", "format": "date", "required": true }
+    },
+    "cguDetails": {
+      "cguId": { "type": "string", "required": true },
+      "cguName": { "type": "string", "required": true },
+      "operatingSegment": { "type": "string", "required": true },
+      "initialCarryingAmounts": {
+        "goodwill": { "type": "number", "required": true },
+        "propertyPlantEquipment": { "type": "number", "required": true },
+        "intangibleAssets": { "type": "number", "required": true },
+        "otherNonCurrentAssets": { "type": "number", "default": 0 },
+        "totalCarryingAmount": { "type": "number", "required": true }
+      }
+    },
+    "recoverableAmountDetermination": {
+      "fairValueLessCostsOfDisposal": { "type": "number", "default": 0 },
+      "valueInUse": {
+        "preTaxDiscountRatePercent": { "type": "number", "required": true },
+        "projectedCashFlowsFiveYears": {
+          "type": "array",
+          "items": { "type": "number" },
+          "required": true
+        },
+        "terminalValue": { "type": "number", "default": 0 },
+        "computedValueInUse": { "type": "number", "required": true }
+      },
+      "determinedRecoverableAmount": { "type": "number", "required": true },
+      "recoverableMethod": {
+        "type": "string",
+        "enum": ["FAIR_VALUE_LESS_COSTS_OF_DISPOSAL", "VALUE_IN_USE"],
+        "required": true
+      }
+    },
+    "impairmentAllocation": {
+      "impairmentLossRecognized": { "type": "boolean", "required": true },
+      "totalImpairmentLossInr": { "type": "number", "required": true },
+      "goodwillWriteDownInr": { "type": "number", "required": true },
+      "ppeWriteDownInr": { "type": "number", "required": true },
+      "intangiblesWriteDownInr": { "type": "number", "required": true },
+      "closingCarryingAmountCguInr": { "type": "number", "required": true }
+    }
+  }
+}

package/okf/corporate_ma_restructuring/impairment_of_assets_indas_36/section.json

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+{
+  "sectionId": "INDAS_36_IAS_36_IMPAIRMENT_OF_ASSETS",
+  "sectionCode": "INDAS-36-IAS-36",
+  "aliases": [
+    "Ind AS 36",
+    "IAS 36",
+    "ASC 360",
+    "ASC 350",
+    "impairment of assets",
+    "recoverable amount",
+    "fair value less costs of disposal",
+    "value in use",
+    "cash generating unit",
+    "CGU",
+    "goodwill impairment",
+    "impairment reversal"
+  ],
+  "governingStatute": "Companies (Indian Accounting Standards) Rules, 2015 read with Section 133 of Companies Act, 2013, IAS 36, and US GAAP FASB ASC Topic 360 & 350",
+  "statutorySection": "Ind AS 36 (Impairment of Assets) converged with IAS 36 and aligned with US GAAP ASC 360/350",
+  "successorStatute": "Companies Act, 2013 (Indian Accounting Standards)",
+  "successorSection": "Ind AS 36",
+  "title": "Impairment of Assets & Cash-Generating Units (Recoverable Amount Determination, Goodwill Priority Allocation, and Reversal Boundaries)",
+  "effectivePeriod": {
+    "validFrom": "2015-04-01",
+    "validTo": "OPEN_ENDED",
+    "annualReset": "Annual mandatory impairment test for goodwill and intangible assets with indefinite useful lives; indicator-based testing for other assets",
+    "sunsetNotes": "Mandatory standard notified via MCA G.S.R. 111(E) effective FY 2015-16 onwards."
+  },
+  "plainTextSummary": "Under Ind AS 36 (converged with IAS 36 and aligned with US GAAP ASC 360 & 350), an entity ensures that its assets are carried at no more than their recoverable amount. An asset is impaired when its carrying amount exceeds its recoverable amount. The recoverable amount of an asset or a cash-generating unit (CGU) is the higher of: (1) its fair value less costs of disposal (the price that would be received to sell an asset in an orderly transaction between market participants less incremental direct costs); and (2) its value in use (the present value of the future cash flows expected to be derived from an asset or CGU using a pre-tax discount rate reflecting current market assessments of the time value of money and risks specific to the asset). If the recoverable amount is less than the carrying amount, the carrying amount of the asset or CGU is reduced to its recoverable amount and the difference is recognized immediately as an impairment loss in Profit and Loss. For a CGU, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit, and then pro-rata to the other assets of the unit based on their relative carrying amounts (subject to asset floor constraints where no asset is reduced below the highest of fair value less costs of disposal, value in use, or zero). Goodwill impairment cannot be reversed under any circumstances; impairment losses for other assets are assessed annually and reversed if estimates have changed, capped at depreciated historical cost.",
+  "keyStatutoryThresholds": {
+    "annualGoodwillTestingMandatory": true,
+    "recoverableAmountRule": "HIGHER_OF_FVLCOD_AND_VIU",
+    "goodwillFirstLossAllocationMandatory": true,
+    "goodwillImpairmentReversalForbidden": true,
+    "otherAssetsReversalCappedAtHistoricalDepreciatedCost": true
+  },
+  "officialCitations": [
+    {
+      "authority": "Ministry of Corporate Affairs (MCA)",
+      "instrument": "Companies (Indian Accounting Standards) Rules, 2015 (G.S.R. 111(E))",
+      "subject": "Notification of Ind AS 36 (Impairment of Assets)",
+      "officialUrl": "https://www.mca.gov.in/content/mca/global/en/acts-rules/ebooks/accounting-standards.html"
+    },
+    {
+      "authority": "Institute of Chartered Accountants of India (ICAI)",
+      "instrument": "ICAI Educational Material on Indian Accounting Standard (Ind AS) 36",
+      "subject": "Guidance on CGU identification, value in use discounting, terminal value growth rates, and impairment disclosures",
+      "officialUrl": "https://www.icai.org/post.html?post_id=14323"
+    }
+  ],
+  "requiredDocumentChecklist": [
+    "Board-approved five-year financial projections and operating budgets for CGUs",
+    "Discount rate calculation worksheet (pre-tax WACC / CAPM cost of equity)",
+    "External valuation reports for Fair Value Less Costs of Disposal (if applicable)",
+    "Goodwill allocation schedule across operating Cash-Generating Units",
+    "Asset register with historical cost, accumulated depreciation, and carrying amount",
+    "Independent external audit memo on terminal value growth rates and sensitivity analysis"
+  ],
+  "tier": "PUBLIC_COMMONS_FREE",
+  "version": "2.11.0"
+}

package/okf/corporate_ma_restructuring/share_based_payments_indas_102/circulars/icai_guidance_share_based_payments.md

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+---
+id: icai_guidance_share_based_payments
+title: ICAI Guidance Note on Accounting for Employee Share-based Payments and Graded Vesting Mechanics
+authority: Institute of Chartered Accountants of India (ICAI)
+date: 2020-07-01
+statutory_section: Ind AS 102 read with Section 133 of Companies Act 2013 and Section 37(1) Income-tax Act
+valid_from: 2015-04-01
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://www.icai.org/post.html?post_id=14323
+---
+
+# ICAI Guidance: Accounting for Employee Share-Based Payments (Ind AS 102 / IFRS 2 / ASC 718)
+
+## 1. Scope & Core Principle
+Ind AS 102 specifies the financial reporting by an entity when it undertakes a share-based payment transaction. For equity-settled transactions, goods or services received are measured at the fair value of equity instruments granted at grant date, credited to Share-Based Payment Reserve.
+
+## 2. Graded Vesting vs Straight-Line Amortization
+Under Ind AS 102, paragraph 15, if stock options vest in installments over the vesting period (e.g., 25% after 1 year, 25% after 2 years, 25% after 3 years, 25% after 4 years):
+- **Mandatory Separate Tranche Treatment**: Each installment (tranche) must be accounted for as a separate award with its own service period.
+- **Front-Loaded P&L Charge**:
+  - Tranche 1 (25%) is expensed over 1 year (100% in Year 1).
+  - Tranche 2 (25%) is expensed over 2 years (50% Year 1, 50% Year 2).
+  - Tranche 3 (25%) is expensed over 3 years (33.3% Year 1, 33.3% Year 2, 33.3% Year 3).
+  - Tranche 4 (25%) is expensed over 4 years (25% each across Years 1-4).
+- **Year 1 Total Expense**: 25% + 12.5% + 8.33% + 6.25% = 52.08% of the total grant-date fair value is recognized in Year 1 alone. Single straight-line averaging (25% per year) is strictly prohibited under Ind AS 102.
+
+## 3. Group / Cross-Border Recharge Agreements
+Where a parent entity (e.g., Delaware C-Corp) grants options over its own shares to employees of an Indian subsidiary:
+- If the subsidiary has no obligation to settle, the subsidiary accounts for the transaction as **equity-settled**, recognizing employee compensation expense and a capital contribution from parent.
+- If an intercompany recharge agreement mandates the subsidiary to reimburse the parent in cash upon exercise:
+  - The recharge obligation is accounted for as a distribution of equity or intercompany liability up to the fair value recognized.
+
+## 4. Indian Income Tax Deduction (Biocon Special Bench Principle)
+Pursuant to the landmark Special Bench ruling in *CIT v. Biocon Ltd* (affirmed by the Supreme Court of India):
+- The discount on issue of ESOPs (FMV at grant minus exercise price) is not a notional loss, but an **ascertained liability incurred for the purpose of business**.
+- It is allowable as a deductible business expenditure under **Section 37(1)** of the Income-tax Act, 1961, spread over the vesting period.

package/okf/corporate_ma_restructuring/share_based_payments_indas_102/forms/esop_graded_vesting_amortization_schedule.json

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+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "title": "Ind AS 102 / IFRS 2 ESOP Graded Vesting Amortization Schedule",
+  "description": "Calculates the mandatory tranche-by-tranche front-loaded amortization schedule of equity-settled share-based payment compensation expense.",
+  "type": "object",
+  "required": [
+    "grantDate",
+    "totalOptionsGranted",
+    "grantDateFairValuePerOptionInr",
+    "vestingTranches"
+  ],
+  "properties": {
+    "grantDate": {
+      "type": "string",
+      "format": "date",
+      "description": "Grant date YYYY-MM-DD"
+    },
+    "schemeName": {
+      "type": "string",
+      "description": "Name of ESOP scheme or grant plan"
+    },
+    "totalOptionsGranted": {
+      "type": "integer",
+      "minimum": 1
+    },
+    "exercisePriceInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "grantDateFairValuePerOptionInr": {
+      "type": "number",
+      "minimum": 0.01,
+      "description": "Option fair value determined via Black-Scholes-Merton model"
+    },
+    "vestingTranches": {
+      "type": "array",
+      "items": {
+        "type": "object",
+        "required": ["trancheNumber", "vestingYears", "allocationPercentage"],
+        "properties": {
+          "trancheNumber": { "type": "integer", "minimum": 1 },
+          "vestingYears": { "type": "number", "minimum": 0.5 },
+          "allocationPercentage": { "type": "number", "minimum": 0, "maximum": 100 },
+          "expectedForfeitureRate": { "type": "number", "minimum": 0, "maximum": 100, "default": 0 }
+        }
+      }
+    }
+  }
+}

package/okf/corporate_ma_restructuring/share_based_payments_indas_102/section.json

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+{
+  "sectionId": "INDAS_102_IFRS_2_ASC_718_SHARE_BASED_PAYMENTS",
+  "sectionCode": "INDAS-102-ASC-718",
+  "aliases": [
+    "Ind AS 102",
+    "IFRS 2",
+    "ASC 718",
+    "ESOP",
+    "stock options",
+    "share-based payment",
+    "graded vesting",
+    "Black-Scholes",
+    "stock compensation",
+    "equity-settled",
+    "ESOP reserve"
+  ],
+  "governingStatute": "Companies (Indian Accounting Standards) Rules, 2015 read with Section 133 of Companies Act, 2013, ICAI Guidance Note on Accounting for Employee Share-based Payments, and US GAAP FASB ASC Topic 718 (Stock Compensation)",
+  "statutorySection": "Ind AS 102 (Share-based Payment) converged with IFRS 2 and aligned with US GAAP ASC 718",
+  "successorStatute": "Companies Act, 2013 (Indian Accounting Standards)",
+  "successorSection": "Ind AS 102",
+  "title": "Share-Based Payments & Employee Stock Options (ESOP Grant-Date Fair Value & Graded Vesting Amortization)",
+  "effectivePeriod": {
+    "validFrom": "2015-04-01",
+    "validTo": "OPEN_ENDED",
+    "annualReset": "Annual vesting tranche evaluation, forfeiture true-ups, and equity reserve roll-forward at reporting dates",
+    "sunsetNotes": "Mandatory standard notified via MCA G.S.R. 111(E) effective FY 2015-16 onwards."
+  },
+  "plainTextSummary": "Under Ind AS 102 (converged with IFRS 2 and aligned with US GAAP ASC 718), equity-settled share-based payment transactions (such as Employee Stock Option Plans / ESOPs) must be measured at the grant-date fair value of the equity instruments granted, typically determined using an option pricing model such as Black-Scholes-Merton (BSM) or a binomial lattice model. For equity-settled awards, the fair value is fixed at grant date and is not subsequently remeasured for changes in stock price. Where awards vest in tranches over multiple years (graded vesting, e.g. 25% each year over 4 years), Ind AS 102 mandates that each tranche must be treated as a separate award with its own distinct service period, resulting in front-loaded compensation expense in profit or loss rather than a single straight-line average over the total 4 years. For cross-border structures (e.g. US Delaware Parent issuing options to employees of its Indian operating subsidiary), the transaction is accounted for in the subsidiary as an equity contribution from the parent credit to Share-Based Payment Reserve and a debit to Employee Benefit Expense, subject to intercompany recharge agreements. Under Indian Income Tax law, the employee is subject to salary TDS under Section 192 read with Section 17(2)(vi) and Rule 3(8) on the exercise date based on Fair Market Value (FMV) determined by a SEBI-registered Category-I Merchant Banker minus exercise price; meanwhile, the company is entitled to claim ESOP discount as an allowable business deduction under Section 37(1) across the vesting period pursuant to the Supreme Court affirmation of the Special Bench ruling in CIT v. Biocon Ltd.",
+  "keyStatutoryThresholds": {
+    "valuationModelMandatory": "OPTION_PRICING_MODEL_BLACK_SCHOLES_OR_BINOMIAL",
+    "grantDateFairValueFixedForEquitySettled": true,
+    "gradedVestingSeparateTrancheAccountingMandatory": true,
+    "taxDeductibleUnderSection37_1BioconDoctrine": true,
+    "perquisiteTaxUnderSection17_2_viOnExercise": true,
+    "valuationAuthorityForTaxPerquisite": "SEBI_REGISTERED_CAT_I_MERCHANT_BANKER"
+  },
+  "officialCitations": [
+    {
+      "authority": "Ministry of Corporate Affairs (MCA)",
+      "instrument": "Companies (Indian Accounting Standards) Rules, 2015 (G.S.R. 111(E))",
+      "subject": "Notification of Ind AS 102 Share-based Payment",
+      "officialUrl": "https://www.mca.gov.in/content/mca/global/en/acts-rules/ebooks/accounting-standards.html"
+    },
+    {
+      "authority": "Institute of Chartered Accountants of India (ICAI)",
+      "instrument": "ICAI Guidance Note on Accounting for Employee Share-based Payments",
+      "subject": "Technical implementation on option pricing models, graded vesting, and group share-based payment arrangements",
+      "officialUrl": "https://www.icai.org/post.html?post_id=14323"
+    }
+  ],
+  "requiredDocumentChecklist": [
+    "Board & Shareholder Approved ESOP Scheme Document",
+    "Independent Valuer Black-Scholes Grant-Date Fair Value Report",
+    "Grant Letter detailing Grant Date, Exercise Price, and Tranche Vesting Dates",
+    "Graded Vesting Amortization Schedule per Tranche",
+    "SEBI Category-I Merchant Banker Valuation Report on Exercise Date (Rule 3(8) TDS perquisite)"
+  ],
+  "tier": "PUBLIC_COMMONS_FREE",
+  "version": "2.11.0"
+}

package/okf/direct_tax/income_taxes_deferred_tax_indas_12/circulars/mca_notification_indas_12_income_taxes.md

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+---
+id: mca_notification_indas_12_income_taxes
+title: Ministry of Corporate Affairs Notification on Ind AS 12 Income Taxes & Deferred Tax Balance Sheet Mechanics
+authority: Ministry of Corporate Affairs (MCA)
+date: 2015-02-16
+statutory_section: Ind AS 12 read with Section 133 of Companies Act 2013 and Income-tax Act 1961
+valid_from: 2015-04-01
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://www.mca.gov.in/content/mca/global/en/acts-rules/ebooks/accounting-standards.html
+---
+
+# MCA Notification: Companies (Indian Accounting Standards) Rules, 2015 — Ind AS 12 Income Taxes
+
+## 1. Executive Summary & Balance Sheet Approach
+Ind AS 12 prescribes the accounting treatment for income taxes. It mandates the **balance sheet liability method**, focusing on temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base under the Income-tax Act, 1961.
+
+## 2. Deferred Tax Assets (DTA) & Statutory Disallowance Bridging
+A Deferred Tax Asset is recognized for deductible temporary differences, unabsorbed business losses, and unabsorbed depreciation, subject to the test of probable future taxable profits:
+1. **Section 43B(h) (Delayed MSME Payments)**:
+   - Amounts disallowed in current fiscal year due to payment beyond 15/45 days are deductible in the subsequent fiscal year when paid.
+   - Generates a **Deferred Tax Asset** in the year of disallowance equal to `Disallowed MSME Payable × Enacted Tax Rate`.
+2. **Section 36(1)(vii) / Section 40A(9) (Ind AS 109 ECL Loss Allowance)**:
+   - ECL credit impairment charged to P&L is disallowed until actual write-off.
+   - Generates a **Deferred Tax Asset** equal to `ECL Loss Allowance × Enacted Tax Rate`.
+3. **Section 43B General Dues (Bonus, Gratuity, PF, Leave Encashment)**:
+   - Unpaid statutory payables create deductible temporary differences and DTA.
+4. **Ind AS 116 Lease Liability vs ROU Asset**:
+   - Initial and ongoing difference between lease liability and ROU asset carrying amounts yields a net temporary difference.
+
+## 3. Deferred Tax Liabilities (DTL) & Accelerated Tax Depreciation
+A Deferred Tax Liability is recognized for all taxable temporary differences:
+1. **Section 32 Accelerated Tax Depreciation**:
+   - In early years of asset acquisition, tax depreciation under the Section 32 block of assets (WDV method) exceeds book straight-line depreciation under Schedule II.
+   - The carrying amount of the asset in books exceeds its tax base, generating a mandatory **Deferred Tax Liability**.
+
+## 4. Effective Tax Rate (ETR) Reconciliation Requirement
+Entities must disclose a numerical reconciliation between:
+- Accounting profit multiplied by the applicable statutory tax rate (e.g. 25.168% for domestic companies under Section 115BAA); and
+- The actual tax expense reported in the Statement of Profit and Loss, explaining tax-exempt income, non-deductible penalties, corporate tax rate differentials, and unrecognized tax losses.

package/okf/direct_tax/income_taxes_deferred_tax_indas_12/forms/deferred_tax_asset_liability_reconciliation_schedule.json

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+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "title": "Ind AS 12 / ASC 740 Deferred Tax Asset & Liability Reconciliation Schedule",
+  "description": "Calculates temporary differences, closing DTA and DTL balances, P&L tax expense, and Effective Tax Rate (ETR) reconciliation.",
+  "type": "object",
+  "required": [
+    "financialYear",
+    "accountingProfitBeforeTaxInr",
+    "enactedTaxRatePercent",
+    "temporaryDifferences"
+  ],
+  "properties": {
+    "financialYear": {
+      "type": "string",
+      "pattern": "^20[0-9]{2}-[0-9]{2}$",
+      "description": "e.g., '2025-26'"
+    },
+    "accountingProfitBeforeTaxInr": {
+      "type": "number",
+      "description": "Profit before tax per Statement of Profit and Loss"
+    },
+    "enactedTaxRatePercent": {
+      "type": "number",
+      "minimum": 0,
+      "maximum": 50,
+      "default": 25.168,
+      "description": "Applicable statutory corporate tax rate including surcharge and cess (e.g. 25.168% for Sec 115BAA)"
+    },
+    "temporaryDifferences": {
+      "type": "object",
+      "properties": {
+        "msmeDisallowanceSec43bHInr": { "type": "number", "minimum": 0, "default": 0 },
+        "statutoryDuesUnpaidSec43BInr": { "type": "number", "minimum": 0, "default": 0 },
+        "eclLossAllowanceIndAs109Inr": { "type": "number", "minimum": 0, "default": 0 },
+        "leaseLiabilityNetIndAs116Inr": { "type": "number", "minimum": 0, "default": 0 },
+        "esopReserveUnvestedIndAs102Inr": { "type": "number", "minimum": 0, "default": 0 },
+        "acceleratedTaxDepreciationSec32Inr": { "type": "number", "minimum": 0, "default": 0 }
+      }
+    },
+    "permanentDifferencesInr": {
+      "type": "number",
+      "default": 0,
+      "description": "Permanent non-deductible expenses (e.g., penalties, CSR expenditure u/s 37(1))"
+    }
+  }
+}

package/okf/direct_tax/income_taxes_deferred_tax_indas_12/section.json

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+{
+  "sectionId": "INDAS_12_IAS_12_ASC_740_INCOME_TAXES",
+  "sectionCode": "INDAS-12-ASC-740",
+  "aliases": [
+    "Ind AS 12",
+    "IAS 12",
+    "ASC 740",
+    "deferred tax",
+    "DTA",
+    "DTL",
+    "deferred tax asset",
+    "deferred tax liability",
+    "temporary difference",
+    "effective tax rate",
+    "ETR reconciliation",
+    "book tax difference"
+  ],
+  "governingStatute": "Companies (Indian Accounting Standards) Rules, 2015 read with Section 133 of Companies Act, 2013, Income-tax Act, 1961, and US GAAP FASB ASC Topic 740 (Income Taxes)",
+  "statutorySection": "Ind AS 12 (Income Taxes) converged with IAS 12 and aligned with US GAAP ASC 740",
+  "successorStatute": "Companies Act, 2013 (Indian Accounting Standards)",
+  "successorSection": "Ind AS 12",
+  "title": "Income Taxes & Deferred Tax Accounting (Balance Sheet Temporary Differences & Effective Tax Rate Reconciliation)",
+  "effectivePeriod": {
+    "validFrom": "2015-04-01",
+    "validTo": "OPEN_ENDED",
+    "annualReset": "Annual and quarterly remeasurement of temporary differences, DTA recoverability test, and enacted tax rate changes",
+    "sunsetNotes": "Mandatory standard notified via MCA G.S.R. 111(E) effective FY 2015-16 onwards."
+  },
+  "plainTextSummary": "Under Ind AS 12 (converged with IAS 12 and aligned with US GAAP ASC 740), income taxes comprise current tax and deferred tax. Current tax represents the amount of income taxes payable or recoverable in respect of the taxable profit or tax loss for the period, calculated using enacted tax rates (e.g. 25.168% under Section 115BAA or 30% plus surcharge and cess). Deferred tax is accounted for using the balance sheet liability method, measuring temporary differences between the carrying amounts of assets and liabilities in the financial statements and their corresponding tax bases. Deductible temporary differences generate Deferred Tax Assets (DTAs), such as statutory disallowances for delayed MSME payments under Section 43B(h), unpaid employee benefits under Section 43B, Expected Credit Loss provisions under Ind AS 109 disallowed under Section 36(1)(vii), and lease liabilities under Ind AS 116. DTAs are recognized only to the extent that it is probable that future taxable profit will be available against which the deductible temporary differences can be utilized. Taxable temporary differences generate Deferred Tax Liabilities (DTLs), primarily arising from accelerated tax depreciation claimed under Section 32 of the Income-tax Act, 1961 exceeding straight-line book depreciation under Companies Act Schedule II. The net deferred tax charge or credit is recognized in the Statement of Profit and Loss, except for items recognized in Other Comprehensive Income (OCI) or directly in equity. The standard requires formal disclosure of an Effective Tax Rate (ETR) reconciliation explaining the variance between the accounting tax expense and the product of accounting profit multiplied by the applicable statutory tax rate.",
+  "keyStatutoryThresholds": {
+    "balanceSheetApproachMandatory": true,
+    "dtaRecognitionPrudenceStandard": "PROBABLE_FUTURE_TAXABLE_PROFIT",
+    "corporateConcessionalTaxRateSec115BAA": 0.25168,
+    "corporateStandardTaxRate": 0.30,
+    "temporaryDifferencesTrackedCount": 6,
+    "effectiveTaxRateReconciliationMandatory": true
+  },
+  "officialCitations": [
+    {
+      "authority": "Ministry of Corporate Affairs (MCA)",
+      "instrument": "Companies (Indian Accounting Standards) Rules, 2015 (G.S.R. 111(E))",
+      "subject": "Notification of Ind AS 12 Income Taxes",
+      "officialUrl": "https://www.mca.gov.in/content/mca/global/en/acts-rules/ebooks/accounting-standards.html"
+    },
+    {
+      "authority": "Institute of Chartered Accountants of India (ICAI)",
+      "instrument": "ICAI Guidance Note on Accounting for Taxes on Income under Ind AS 12",
+      "subject": "Comprehensive guidance on temporary differences, tax base derivation, and DTA recoverability assessment",
+      "officialUrl": "https://www.icai.org/post.html?post_id=14323"
+    }
+  ],
+  "requiredDocumentChecklist": [
+    "Tax Audit Report Form 3CD Clause 21 / 26 Disallowance Schedule",
+    "Depreciation Comparison Schedule: Companies Act Schedule II vs Income-tax Act Section 32 WDV Block",
+    "Detailed Deferred Tax Working Paper (DTA/DTL line-by-line derivation)",
+    "Effective Tax Rate (ETR) Numerical Reconciliation Statement",
+    "Management Assessment of DTA Recoverability & Future Taxable Profit Projections"
+  ],
+  "tier": "PUBLIC_COMMONS_FREE",
+  "version": "2.11.0"
+}

package/okf/direct_tax/tds_commission_194h/section.json

@@ -13,17 +13,18 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194H",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 4, Item (i)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 1(ii)",
   "title": "Deduction of tax at source on commission or brokerage",
   "effectivePeriod": {
     "validFrom": "2001-06-01",
     "validTo": "2026-03-31",
     "annualReset": "Every April 1 (Cumulative Commission Resets Annually)",
-    "sunsetNotes": "Transitions to Section 393(1) Table 4 Item (i) of the Income-tax Act, 2025 effective 1 April 2026."
+    "sunsetNotes": "Transitions to Section 393(1), Table 1, Sl. No. 1(ii) of the Income-tax Act, 2025 effective 1 April 2026, where the statutory threshold increases to ₹20,000 per financial year for specified payers."
   },
-  "plainTextSummary": "Any person responsible for paying any income by way of commission or brokerage to a resident is required to deduct tax at source. Statutory Rate: 2% effective 1 October 2024 as amended by Finance (No. 2) Act, 2024 (prior to 1 October 2024, the rate was 5%). Threshold: Tax is deductible only if the aggregate amount of commission or brokerage credited or paid during the financial year exceeds ₹15,000. Statutory Exclusions: Does not apply to insurance commission (covered under Section 194D) or underwriting commission. Non-PAN penalty rate under Section 206AA is 20%. Under CBDT Circular 23/2017, where GST is separately stated, TDS applies on commission excluding GST.",
+  "plainTextSummary": "Any person responsible for paying any income by way of commission or brokerage to a resident is required to deduct tax at source. Statutory Rate: 2% effective 1 October 2024 as amended by Finance (No. 2) Act, 2024 (prior to 1 October 2024, the rate was 5%). Threshold: Under Section 194H of the 1961 Act, tax is deductible only if the aggregate amount of commission or brokerage credited or paid during the financial year exceeds ₹15,000. Under Section 393(1), Table 1, Sl. No. 1(ii) of the 2025 Act (w.e.f. 1 April 2026), the threshold increases to ₹20,000. Statutory Exclusions: Does not apply to insurance commission (covered under Section 194D / Section 393(1), Table 1, Sl. No. 1(i)) or underwriting commission. Non-PAN penalty rate under Section 206AA is 20%. Under CBDT Circular 23/2017, where GST is separately stated, TDS applies on commission excluding GST.",
   "keyStatutoryThresholds": {
     "annualAggregateThresholdInr": 15000,
+    "successorAct2025ThresholdInr": 20000,
     "standardRatePercent": 2,
     "preOct2024RatePercent": 5,
     "rateChangeEffectiveDate": "2024-10-01",
@@ -40,7 +41,7 @@
     },
     {
       "authority": "Parliament of India / Ministry of Finance",
-      "instrument": "Income-tax Act, 2025 Section 393(1), Table 4, Item (i)",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 1, Sl. No. 1(ii)",
       "subject": "TDS on commission and brokerage under new Direct Tax Code",
       "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
     },

package/okf/direct_tax/tds_contractor_194c/section.json

@@ -13,13 +13,13 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194C",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 3, Item (i)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 6(i)",
   "title": "Deduction of tax at source on payments to contractors and sub-contractors",
   "effectivePeriod": {
     "validFrom": "1972-04-01",
     "validTo": "2026-03-31",
     "annualReset": "Every April 1 (Cumulative Invoices Reset Annually)",
-    "sunsetNotes": "Transitions to Section 393(1) Table 3 Item (i) of the Income-tax Act, 2025 effective 1 April 2026."
+    "sunsetNotes": "Transitions to Section 393(1), Table 1, Sl. No. 6(i) of the Income-tax Act, 2025 effective 1 April 2026."
   },
   "plainTextSummary": "Any person responsible for paying any sum to a resident contractor for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract between the contractor and a specified person must deduct tax at source. Statutory Rates: (a) 1% where the payment is being made or credited to an individual or a Hindu Undivided Family (HUF); (b) 2% where the payment is being made or credited to any person other than an individual or a HUF (companies, partnership firms, LLPs, AOPs, BOIs). Thresholds: Tax is deductible if a single contract or invoice exceeds ₹30,000, OR if the aggregate of amounts paid or credited to the contractor during the financial year exceeds ₹1,00,000. Transport Operator Exemption: Under Section 194C(6), no deduction shall be made from any sum credited or paid to a contractor during the course of business of plying, hiring, or leasing goods carriages, where such contractor owns 10 or fewer goods carriages at any time during the previous year and furnishes a declaration to that effect along with their PAN. Non-PAN penalty rate under Section 206AA is 20%.",
   "keyStatutoryThresholds": {
@@ -42,7 +42,7 @@
     },
     {
       "authority": "Parliament of India / Ministry of Finance",
-      "instrument": "Income-tax Act, 2025 Section 393(1), Table 3, Item (i)",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 1, Sl. No. 6(i)",
       "subject": "TDS on contractor payments under new Direct Tax Code",
       "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
     },

package/okf/direct_tax/tds_ecommerce_194o/section.json

@@ -15,13 +15,13 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194O",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 8, Item (i)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 8(i)",
   "title": "Payment of certain sums by e-commerce operator to e-commerce participant",
   "effectivePeriod": {
     "validFrom": "2020-10-01",
     "validTo": "2026-03-31",
     "annualReset": "Every April 1 (Cumulative Platform Sales Reset Annually)",
-    "sunsetNotes": "Rate reduced from 1% to 0.1% w.e.f. 1 October 2024 by Finance (No. 2) Act, 2024. Transitions to Section 393(1) Table 8 Item (i) of the Income-tax Act, 2025 effective 1 April 2026."
+    "sunsetNotes": "Rate reduced from 1% to 0.1% w.e.f. 1 October 2024 by Finance (No. 2) Act, 2024. Transitions to Section 393(1), Table 1, Sl. No. 8(i) of the Income-tax Act, 2025 effective 1 April 2026."
   },
   "plainTextSummary": "Every e-commerce operator facilitating the sale of goods or provision of services through its digital or electronic platform must deduct income-tax at source on the gross amount of such sales or services credited or paid to a resident e-commerce participant. Statutory Rate: (a) 1.0% prior to 1 October 2024; (b) 0.1% on or after 1 October 2024 (as amended by Finance (No. 2) Act, 2024). In the absence of a valid PAN or where PAN is inoperative, tax is deductible at 5.0% under Section 206AA(1). De Minimis Exemption: No deduction is required if the participant is a resident Individual or HUF, the gross amount of sales/services through the operator does not exceed ₹5,00,000 in the financial year, and the participant has furnished their PAN/Aadhaar. Corporate, LLP, and partnership participants have zero threshold (TDS applies from ₹1). Section 194O has statutory precedence: transactions subject to Section 194O are exempt from Section 194Q buyer TDS and Section 206C(1H) seller TCS.",
   "keyStatutoryThresholds": {
@@ -42,7 +42,7 @@
     },
     {
       "authority": "Parliament of India / Ministry of Finance",
-      "instrument": "Income-tax Act, 2025 Section 393(1), Table 8, Item (i)",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 1, Sl. No. 8(i)",
       "subject": "TDS on e-commerce operators under new Direct Tax Code",
       "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
     },

package/okf/direct_tax/tds_goods_194q/circulars/cbdt_circular_13_2021_guidelines.md

@@ -7,7 +7,7 @@ statutory_section: Section 194Q
 valid_from: 2021-07-01
 valid_to: 2026-03-31
 temporal_status: TRANSITIONED_TO_ACT_2025
-sunset_notes: Governed transactions under Income-tax Act, 1961 until 31 March 2026. Substantive guidelines (excess over ₹50L calculation, advance payment netting, and non-resident PE exclusion) continue under Section 393(1) Table 8(ii) of the Income-tax Act, 2025 effective 1 April 2026.
+sunset_notes: Governed transactions under Income-tax Act, 1961 until 31 March 2026. Substantive guidelines (excess over ₹50L calculation, advance payment netting, and non-resident PE exclusion) continue under Section 393(1), Table 1, Sl. No. 8(ii) of the Income-tax Act, 2025 effective 1 April 2026.
 subject: Threshold calculation, advance payment netting, and non-resident exemption
 official_url: https://www.incometaxindia.gov.in/w/circular-no.-13/2021-guidelines-under-section-194q-of-the-income-tax-act-1961
 ---
@@ -17,7 +17,7 @@ official_url: https://www.incometaxindia.gov.in/w/circular-no.-13/2021-guideline
 > **Valid To**: 31 March 2026 (Income-tax Act, 1961)  
 > **Temporal Status**: TRANSITIONED_TO_ACT_2025  
 > **Annual Reset**: Every April 1 (Cumulative ₹50L purchase threshold resets annually)  
-> **Successor Act Transition**: Governed Section 194Q until 31 March 2026; substantive guidance transitions to Section 393(1), Table 8, Item (ii) of Income-tax Act, 2025 on 1 April 2026.  
+> **Successor Act Transition**: Governed Section 194Q until 31 March 2026; substantive guidance transitions to Section 393(1), Table 1, Sl. No. 8(ii) of Income-tax Act, 2025 on 1 April 2026.  
 > **Statutory Notice**: This document is a structured machine-readable distillation of CBDT Circular No. 13 of 2021 for automated compliance reasoning, citing primary statutory authority.
 
 # CBDT Circular No. 13 of 2021: Statutory Clarifications on Section 194Q

package/okf/direct_tax/tds_goods_194q/section.json

@@ -12,15 +12,15 @@
   "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
   "statutorySection": "Section 194Q",
   "successorStatute": "Income-tax Act, 2025",
-  "successorSection": "Section 393(1), Table 8, Item (ii)",
+  "successorSection": "Section 393(1), Table 1, Sl. No. 8(ii)",
   "title": "Deduction of tax at source on payment of a certain sum for purchase of goods",
   "effectivePeriod": {
     "validFrom": "2021-07-01",
     "validTo": "2026-03-31",
     "annualReset": "Every April 1 (Cumulative Purchases Reset Annually)",
-    "sunsetNotes": "Transitions to Section 393(1) Table 8(ii) of the Income-tax Act, 2025 effective 1 April 2026."
+    "sunsetNotes": "Transitions to Section 393(1), Table 1, Sl. No. 8(ii) of the Income-tax Act, 2025 effective 1 April 2026."
   },
-  "plainTextSummary": "Any buyer whose total sales, gross receipts, or turnover from business exceeds ₹10 Crore in the preceding financial year, responsible for paying any sum to a resident seller for purchase of goods exceeding ₹50 Lakhs in the current financial year, must deduct 0.1% TDS on the amount exceeding ₹50 Lakhs at the time of credit to seller account or payment, whichever is earlier.",
+  "plainTextSummary": "Any buyer whose total sales, gross receipts, or turnover from business exceeds ₹10 Crore in the preceding financial year, responsible for paying any sum to a resident seller for purchase of goods exceeding ₹50 Lakhs in the current financial year, must deduct 0.1% TDS on the amount exceeding ₹50 Lakhs at the time of credit to seller account or payment, whichever is earlier. Under the Income-tax Act, 2025 (w.e.f. 1 April 2026), this provision continues under Section 393(1), Table 1, Sl. No. 8(ii).",
   "keyStatutoryThresholds": {
     "buyerPriorYearTurnoverCr": 10,
     "annualPurchaseThresholdInr": 5000000,
@@ -29,6 +29,12 @@
     "taxableBaseScope": "Tax is deductible strictly on the excess over ₹50 Lakhs, NOT on the aggregate gross turnover."
   },
   "officialCitations": [
+    {
+      "authority": "Parliament of India / Ministry of Finance",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 1, Sl. No. 8(ii)",
+      "subject": "TDS on purchase of goods under new Direct Tax Code",
+      "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
+    },
     {
       "authority": "Central Board of Direct Taxes (CBDT)",
       "instrument": "Circular No. 13 of 2021 (Dated 30 June 2021)",