CAclubindia Articles

Companies Act, 2013- Sec 128 books of accounts

Posted by CA Sripriya K 26 February 2015 78142 Views

Introduction Section 128 of the Companies Act deals with the books of accounts to be kept by the company. As per this section every company shall prepare and keep at its registered office books of account and other relevant books and papers and

Decoding 2015 statutory audits of the banks

Posted by Amresh 26 February 2015 13940 Views

A chartered accountant is mandated to conduct statutory and other audit of banking industries. This is in compliance of various statutes applicable to

Offences for which punishment for fraud prescribed u/s 447

Posted by CS M.Kurtrala Nathan 26 February 2015 6198 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

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

Posted by CA Rohit Gupta 26 February 2015 21523 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,

Services which can be rendered by the auditors

Posted by CS Divesh Goyal 25 February 2015 16645 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

Ind AS 2 - Inventories

Posted by Ashima chachra 25 February 2015 58666 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 8698 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

Budget wishlist: What govt must do to ease pain of common man?

Posted by Rakesh Nangia 24 February 2015 13203 Views

As February 28 draws closer, a lot of expectation has built up on the tax front as this will be the first full-year Budget to be presented by the Modi government. The government has previously conveyed its intention to simplify the taxation system an

Three distinct aspects of financial applications

Posted by Tulasi S Sastri 24 February 2015 13709 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 338317 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