Section 24 in The Companies (Indian Accounting Standards) Rules, 2015
24. To comply with paragraph 23, an entity's first Ind AS financial statements shall include:
(a)reconciliations of its equity reported in accordance with previous GAAP to its equity in accordance with Ind ASs for both of the following dates:(i)the date of transition to Ind ASs; and(ii)the end of the latest period presented in the entity's most recent annual financial statements in accordance with previous GAAP.(b)a reconciliation to its total comprehensive income in accordance with Ind ASs for the latest period in the entity's most recent annual financial statements. The starting point for that reconciliation shall be total comprehensive income in accordance with previous GAAP for the same period or, if an entity did not report such a total, profit or loss under previous GAAP.(c)if the entity recognized or reversed any impairment losses for the first time in preparing its opening Ind AS Balance Sheet, the disclosures that Ind AS 36, Impairment of Assets, would have required if the entity had recognized those impairment losses or reversals in the period beginning with the date of transition to Ind ASs.
