Section 3 in The Companies (Accounting Standards) Rules, 2006
3. Accounting Standards.
(1)The Central Government hereby prescribes Accounting Standards 1 to 7 and 9 to 29 as recommended by the Institute of Chartered Accountants of India, which are specified in the Annexure to these rules.(2)The Accounting Standards shall come into effect in respect of accounting period commencing on or after the publication of these Accounting Standards.
