India (IN)

Jurisdiction Overview

IDQuestionAnswer
405 *Taxpayers reporting uncertain tax positions: Are taxpayers required to report at least annually on details of uncertain tax positions for which reserves have been created in the annual accounts? Yes, but the details are only reported to the tax administration (they are not published).
 Data Date: 2019

Notes

 
In 20 March 2019, the India Ministry of Corporate Affairs passed the Companies (Indian Accounting Standards) Second Amendments Rules, 2019, which requires entities to report on uncertainty over income tax treatments "This Appendix clarifies how to apply the recognition and measurement requirements in Ind AS 12 when there is uncertainty over income tax treatments. In such a circumstance, an entity shall recognise and measure its current or deferred tax asset or liability applying the requirements in Ind AS 12 based on taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates determined applying this Appendix. recognise and measure their current of deferred tax assets when there is uncertainty over income tax treatments" (Appendix C, Uncertainty over Income Tax Treatment, The Ind AS).

Sources

https://www.mca.gov.in/Ministry/pdf/RuleIndAsSecondEng_30032019.pdf
 
Appendix C, Uncertainty over Income Tax Treatment, The Ind AS