✅ Correct Answer: 2. Carve-ins 📘 Explanation: • Ind AS (Indian Accounting Standards) are largely aligned with IFRS (International Financial Reporting Standards). However, there are two kinds of deviations: 1. Carve-outs ➤ These are removals or relaxations from IFRS requirements in Ind AS. ➤ Example: Omitting or modifying complex or unsuitable provisions in IFRS for Indian context. 2. Carve-ins ✅ ➤ These are additional requirements added in Ind AS which are not present in IFRS. ➤ Their purpose is to provide extra guidance or specific disclosures suitable for Indian regulatory or economic environment. ➤ Since the question asks about “guidance over and above IFRS”, this is clearly carve-ins. ⸻ 🔍 Example: Let’s say IFRS doesn’t require disclosure of a specific item, but Ind AS adds it — that would be a carve-in. ⸻ 🧠 Final Tip: • Think Carve-out = Taken out from IFRS • Carve-in = Inserted additionally into Ind AS