MCA Vide Notification No. S.O.___(E) dated 2nd April, 2018 makes amendment in the Notification no.S.O.529(E) dated, the 5th February, 2018 i.e. Notification regarding Exemption to Government Companies under section 129(6) of Companies Act, 2013 from recognizing Deferred Tax Assets/ Deferred Tax Liability under AS-22/Ind AS-12. In the said Notification, in the opening paragraph, the words “for seven years” shall be omitted.
The said Notification can be accessed from the following link:MCA Notf__E dt.02.04.2018_Amendmnt to Notf of exemptn to Gov Co.s