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.