Information to be presented in the OCI section - Ind AS - Indian Accounting Standards - Companies Law

Information to be presented in the OCI section. The other comprehensive income section shall present line items for the amounts for the period of: items of other comprehensive income (excluding amounts in paragraph (b)), classified by nature and grouped into those that, in accordance with other Ind ASs: will not be reclassified subsequently to profit or loss; and will be reclassified subsequently to profit or loss when specific conditions are met. the share of the other comprehensive income of associates and joint ventures accounted for using the equity method, separated into the share of items that, in accordance with other Ind ASs: will not be reclassified subsequently to profit or loss; and will be reclassified subsequently to profit or loss when specific conditions are met. An entity shall present additional line items headings and subtotals in the statement of profit and loss when such presentation is relevant to an understanding of the entity s financial performance. When an entity presents subtotals, those subtotals shall: be comprised of line items made up of amounts recognised and measured in accordance with Ind AS; be presented and labelled in a manner that makes the line items that constitute the subtotal clear and understandable; be consistent from period to period; and not be displayed with more prominence than the subtotals and totals required in Ind AS for the statement of profit and loss. When an item of OCI is reclassified to the statement of P L in the current year it should be deucted from OCI and presented in P L statement this avoids the double effect. An entity shall present the line items in the statement of profit and loss that reconcile any subtotals presented in accordance with the subtotals or totals required in Ind AS for such statement. An entity shall not present any items of income or expense as extraordinary items, in the statement of profit and loss or in the notes. An entity shall disclose the amount of INCOME TAX relating to each item of OCI, including reclassification, adjustments, either in the statement of Profit and Loss or in the notes. An entity may present items of other comprehensive income either; Net of tax; Before tax amounts and total tax amount can be presented as one number towards end of OCI statement. If an entity elects alternative (b), it shall allocate the tax between the items that will be reclassified subsequently to the profit or loss and those that will not be reclassified subsequently to the profit or loss. An entoty shall disclose reclassification adjustments relating to components of OCI.