CAclubindia Articles

Offences for which punishment for fraud prescribed u/s 447

Posted by CS M.Kurtrala Nathan 26 February 2015 6218 Views

Section 447 Punishment for Fraud: Any person who is found to be guilty of fraud Imprisonment for a term which shall not be less than 6 months but which may extend to 10

Services which can be rendered by the auditors

Posted by CS Divesh Goyal 25 February 2015 16664 Views

As per Provisions of Section- 144 of Companies Act, 2013, A Statutory Auditor of company cant provide the following below mentioned services to followings: Services which a Statutory Auditor cant provide directly or indirectly to above

TDS U/S 195- Reimbursement of salary of seconded employees

Posted by CA Rohit Gupta 26 February 2015 21545 Views

Secondment of employees by foreign parent company to Indian subsidiary is a regular feature considering the requirements to meet their global standards of quality and to ensure proper functioning and assistance to Indian Subsidary Companies. However,

Ind AS 2 - Inventories

Posted by Ashima chachra 25 February 2015 58694 Views

1. Objective: a) Deals with the determination of cost ,b) Subsequent recognition as an expense , including any write-down to NRV ,c) Guidance on the cost formulas that are used to assign costs to inventories.2. Scope: This Standard applies to all inv

Union Budget - My story and history

Posted by Anjani Kumar Sharma 25 February 2015 8711 Views

February is a month of love and proposals. This statement holds true even for Chartered Accountants. Although, the proposal which invokes excitement in Chartered Accountants are the Tax proposals presented by the Finance Minister in the Union Budget

Three distinct aspects of financial applications

Posted by Tulasi S Sastri 24 February 2015 13712 Views

Three distinct aspects of Financial Applications that help in Systems Requirement Study (SRS). What is SRS? By SRS I am referring to the exercise undertaken to understand and to specify the requirements of a Business Application for development. Ther

SSI units - Exemption under central excise

Posted by CMA Poornima Madhava 24 February 2015 338374 Views

SSI units & Notification no.8/2003 CE SSI stands for Small Scale Industries. Notification no.8/2003 provides relaxation to SSI units from central excise duty subject to certain conditions. T

Much ado about nothing in section 188 (Related Party)

Posted by ANMOL JHA 24 February 2015 7760 Views

The section 188 of the Companies Act, 2013 imposes restrictions/conditions relating to related parties transactions and for the purpose of imposing restrictions and conditions the said section 188 authorizes Central Government to make rule. The Cent

Companies Act, 2013- Sch II depreciation revised

Posted by CA Sripriya K 24 February 2015 24135 Views

Schedule II of the Companies Act 2013 Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less i