Section 30(2) in The Indian Institutes of Information Technology Act, 2014
(2)Where the statement of income and expenditure and the balance sheet of the Institute do not comply with the accounting standards, the Institute shall disclose in its statement of income and expenditure and balance sheet, the following, namely:-(a)the deviation from the accounting standards;(b)the reasons for such deviation; and(c)the financial effect, if any, arising out due to such deviation.
