As per MCA notification applicability of Ind AS in India :-

Financial Year Effective date Mandatorily Applicability

2015-16 1-4-2015 onwards Companies may voluntarily adopt Ind AS for financial statements for accounting periods
beginning on or after from the effective date with the comparatives for the periods ending
31 March 2015 or thereafter. It is mandatory to follow same Ind AS for the all subsequent
financial years once opted for.

2016-17 1-4-2016 onwards The following companies are required to follow Ind AS in India:-
a.Companies whose equity and/or debt securities are listed or are in the process of listing
on any stock exchange in India or outside India(listed companies)and having net worth of
INR 500 crores or more
b.Unlisted companies having a net worth of INR 500 crores or more
c.Holding,subsidiary,joint ventures or associate companies of the listed and unlisted
companies covered under (a)&(b).
d.Comparative for these financial statements will be periods ending 31 March 2016 or
thereafter.

2017-18 1-4-2017 onwards The following companies are required to follow Ind AS in India:-
a.Companies whose equity and/or debt securities are listed or are in the process of listing
on any stock exchange in India or outside India(listed companies)and having net worth of
INR 500 crores
b.Unlisted companies having net worth of INR 250 crores or more but less than INR 500
crores.
c.Holding,subsidiaries,joint ventures or associate companies covered in (a) &(b).
d.Comparative for these financial statements will be periods ending 31 March 2017 or after.

2018-19 onwards 1-4-2018 onwards The following companies are required to follow Ind AS in India:-
a.Companies whose net worth become greater than INR 250 crores
b.NBFCs having net worth of INR 500 crores or more
c.Holding,subsidiary,joint ventures or associate companies of the listed and unlisted
companies covered under (a)&(b) as per notification of mca dated 30thMarch,2016.
d.Comparative for these financial statements will be periods ending 31 March 2018 or after.

2019-20 onwards 1-4-2019 onwards The following NBFCs are required to follow Ind AS in India:-
a.NBFCs whose equity and/or debt securities are listed or are in the process of listing on
any stock exchange in India or outside India and having net worth of INR 500 crores
b.Unlisted NBFCs having net worth of INR 250 crores or more but less than INR 500
crores.
c.Holding,subsidiaries,joint ventures or associate companies covered in (a) &(b).
d.Comparative for these financial statements will be periods ending 31 March 2019 or after.

The above applicability is as per the Companies(Indian Accounting Standards)Rules,2015&further amended by Companies(Indian Accounting Standards)
(Amendment)Rules 2016.

The following companies are not covered under Ind AS:-

1.The insurance companies,banking companies and non-banking finance companies shall not be required to follow it.
2.The Banking Companies and Insurance Companies shall apply the Ind ASs as notified by the RBI and IRDA respectively.
3. An insurer or insurance company shall however, follow Ind AS for compliant financial statement data for the
purpose of preparation of consolidated financial statements by its parent or investor or venturer, as required
by the parent or investor or venturer to comply with the requirements of these rules.

The following important points to be noted here :-

a.Financial Statements under Ind AS includes:-
(i)Balance Sheet at the end of the period.
(ii)Statement of profit and loss for the period
(iii)Statement of changes in equity for the period
(iv)Statement of cash flows for the period ,notes,comprising a summary of significant accounting policies and other explanatory information.
b.Comparatives mean shall mean comparative figures for the preceding accounting period.
c.Net Worth means same as mentioned under Sec 2(57) of the Companies Act,2013.Net Worth means the aggregate value of the paid-up share capital and all reserves
created out of the profits and securities premium account, after deducting the aggregate value of the accumulated losses,deferred expenditure and miscellaneous
expenditure written off , as per the audited balance sheet ,but does not include reserve created out of revaluation of assets,write-back of depreciation and amalgamation.

d.NBFCs mean those Non-Banking Financial Companies as defined in clause (f) of Sec.45 -I of the Reserve Bank of India
Act,1934 and includes Housing Finance Companies,Merchant Banking Companies,Micro Finance Companies,
Mutual Benefit Companies,Venture Capital Fund Companies,Stock Broker or Sub-Broker Companies,Nidhi Companies,
Chit Companies,Securitisationand Reconstruction Companies,Mortgage Guarantee Companies,Pension Fund
Companies,Asset Management Companies and Core Investment Companies.

The following are the detailed list of Ind AS:-

Topics
Presentation of Financial Statement
Inventories
Statement of Cash Flow
Accounting Policies,Changes in
Accounting Estimates and Error
Events after the Reporting Period
Construction Contracts
Income Taxes
Property,Plant and Equipment
Leases
Employee Benefits
Government Grants
Foreign Exchange
Borrowing Costs
Related Party Disclosures
Consolidated Financial Statements
Investments in Associates and Joint
Ventures
Reporting in Hyperinflationary
Economics
Financial Instruments: Presentation
Earnings Per Share
Interim Financial Reporting
Impairment of Assets
Provisions,Contingent Assets and
Contingent Liabilities
Intangible Assets
Investment Property
Agriculture
First Time Adoption
Shared-based Payment
Business Combinations
Insurance Contracts
Non-Current Assets Held for Sale and AS 24:Discontinuing Operations
Discontinued Operations
Exploration for and Evaluation of
Mineral Resources
Financial Instruments:Disclosures
Segments
As per AS & IFRS As per Ind AS
AS-1 :Disclosure of Accounting Ind AS 1:Presentation of financial statements
Policies
AS-2:Valuation of Inventories Ind AS 2:Inventories
AS-3:Cash Flow Statements Ind AS 7:Statement of Cash Flows
AS 5:Net Profit or Loss for the Ind AS 8:Accounting Policies,Changes in Accounting Estimates and Errors
Period,Prior Period Items and
Changes in Accounting Policies
AS-4:Contingencies and Events Ind AS 10:Events after the Reporting Period
Occuring after the Balance Sheet
Date
AS 7 :Construction Contracts Ind AS 11:Construction Contracts
AS 22 :Accounting for Taxes on Ind AS 12:Income Taxes
Income
AS 6:Depreciation Accounting & Ind AS 16:Property,Plant and Equipment
AS10:Accounting for Fixed Assets
AS 19:Leases Ind AS 17:Leases
AS 15:Employee Benefits(Revised Ind AS 19:Employee Benefits
2015)
AS 12:Accounting for Government Ind AS 20:Accounting for Government Grants and Disclosure of Government Assistance
Grants
AS 11:The Effects of Changes in Ind AS 21:The Effects of Changes in Foreign Exchange Rates
Foreign Exchange Rates
AS 11:Borrowing Costs Ind AS 23:Borrowing Costs
AS 18:Related Party Disclosures Ind AS 24:Related Party Disclosures
AS 21:Consolidated Financial Ind AS 27:Separate Financial Statements
Statements
AS 23:Accounting for Investments in Ind AS 28:Investments in Associates and Joint Ventures
Associates in Consolidated Financial
Statements
There is no equivalent standard Ind AS 29:Financial Reporting in Hyperinflationary Economies
AS 31-Financial Instruments: Ind AS 32:Financial Instruments: Presentation
Presentation
AS 20-Earnings Per Share Ind AS 33:Earnings Per Share
AS 25-Interim Financial Reporting Ind AS 34:Interim Financial Reporting
AS 28-Impairment of Assets Ind AS 36:Impairment of Assets
AS 26-Intangible Assets
AS 25-Provisions,Contingent Assets Ind AS 37:Provisions,Contingent Assets and Contingent Liabilities
and Contingent Liabilities
AS 26-Intangible Assets Ind AS 38:Intangible Assets
AS-13-Accounting for Investment Ind AS 40:Investment Property
There is no equivalent standard Ind AS 41:Agriculture
There is no equivalent standard but Ind AS 101:First Time Adoption of Indian Accounting Standards
covered under IFRS 1:First Time
Adoption of International Financial
Reporting Standards
There is no equivalent standard but Ind AS 102:Shared-based Payment
covered under IFRS 2:Share-based
Payment
AS14-Accounting for Amalgamation Ind AS 103:Business Combinations
& IFRS 3:Business Combinations
There is no equivalent standard but Ind AS 104:Insurance Contracts
covered under IFRS 4:Insurance
Contracts
Ind AS 105:Non-Current Assets Held for Sale and Discontinued Operations
&IFRS5:Non-Current Assets Held
for Sale and Discontinued
Operations
AS 28-Impairment of Assets & IFRS Ind AS 106:Exploration for and Evaluation of Mineral Resources
6:Exploration for and Evaluation of
Mineral Resources
AS 32-Financial Ind AS 107:Financial Instruments:Disclosures
Instruments:Disclosures & IFRS
7:Financial Instruments
AS 17-Segment Reporting & IFRS Ind AS 108:Operating Segments
8:Operating Segments
Financial Instruments
Separate and Consolidated Financial AS 21 & IFRS 10:Consolidated
Instruments
Interest in Joint Arrangements
Fair Value
Regulatory Deferral Accounts
Revenue from Contract with
customers
AS 13-Accounting for Investment Ind AS 109:Financial Instruments
AS 30-Financial
Instruments:Recognition and
Measurements &IFRS 9:Financial
Instruments
Ind AS 110:Consolidated Financial Statements
Financial Statements & IFRS 12 Ind AS 112:Disclosure of Interests in Other Entities
:Disclosure of Interests in Other
Entities
AS 27:Financial Reporting of Ind AS 111:Joint Arrangements
Interest in Joint Ventures& IFRS-
Joint Arrangements
There is no equivalent standard but Ind AS 113:Fair value measurements
covered under IFRS 13:Fair value
measurements
There is no equivalent standard but Ind AS 114:Regulatory Deferral Accounts
covered under IFRS 14:Regulatory
Deferral Accounts
There is no equivalent standard but Ind AS 115:Revenue from Contracts with customers(omitted by the Companies (Indian
covered under AS 9:Revenue Accounting Standards)(Amendment Rules 2016 w.e.f 30-3-2016
Recognition
AS 7:Construction Contracts