CAclubindia Articles

Cash flow statement (CFS) is mandatory

Posted by SAMEER AHMED 11 March 2015 83090 Views

Earlier Company act 1956 didnt include cash flow statement in the Defination of Financial statement,However as per New Company Act 2013, the Cash flow statement shall to prepare.As per Sec 2(40) for financial statement in relation to a

Recovery without SCN constitutionally valid?

Posted by Pradeep Jain 11 March 2015 11837 Views

MISTAKE IN DECLARING LIABILITY WILL LEAD TO RECOVERY WITHOUT SCNOrRECOVERY WITHOUT SCN-CONSTITUTIONALLY VALID? Introduction:- This article is an attempt to analyse the impact of amendment made in section 11A of the Central Excise Act, 1944 and sectio

How to exercise your taxes to ensure financial health

Posted by Sanjit Agarwal 11 March 2015 18211 Views

The Income Tax Act 1961 devotes an entire section to Income Tax Deductions available to Indian tax payers. If we take note of the deductions and invest in the right products at a regular pace, we will inculcate financial discipline that will go a lon

Expiry date for directors

Posted by Sundharesan Jayamoorthi 10 March 2015 30648 Views

March 31 is round the corner and every director has to be doubly vigilant about his existence as some of the mundane provisions listed out in the Companies Act, 2013 (Act) prescribe for a expiry date for a director in case of certain no

Budget 2015 not for small & medium service sector

Posted by CA Satish Badve 10 March 2015 15965 Views

BUDGET 2015 Hon. Finance Minister has presented first Full year budget of his Govt. on 28.02.15. The expectations were very high and everyone wish this budget as dream budget which have at least something for all say 125 crores of the Indian populati

Stage now set for implementing Accounting Standards converged with IFRS

Posted by CA. Rajvir Bhatnagar 10 March 2015 13952 Views

Ministry of Corporate Affairs has finally announced the Companies (Indian Accounting Standards) Rules, 2015 for applicability of Accounting Standards converged with IFRS. A notification in this regard has been issued on 16th February, 2015. Important

Women and the will to succeed!

Posted by Hetvi Sheth 09 March 2015 15305 Views

Indian economy has changed tremendously in last 15-20 years. Liberalisation of economy and globalisation has created manifold growth opportunities for women, whether qualified, semi-qualified and even uneducated. The outlook of society towards women

Reversal of Input tax credit on account of mismatches

Posted by RENGARAJ R.K 09 March 2015 16981 Views

Input Tax Credit reversal on account of mismatches found in the Returns under Tamilnadu VAT Act, 2006.-rengaraj r.k, advocate, swamy associatesIntroduction: In the recent times, the Commercial Taxes Department has started issuing Notices and passing

Budget session and GST, will tyranny of opposition end?

Posted by Kaushik Vinod 09 March 2015 11061 Views

Introduction:Everyone including me is very optimistic about passage of GST Bill in both the houses of Parliament in this undergoing budget session of parliament which has started from 23 Februa

Good news, High Court orders to grant MVAT refund as per return where Form 501 not filed

Posted by CA Umesh Sharma 09 March 2015 15453 Views

Karneeti Part 79Good news, High Court orders to grant MVAT refund as per return where Form 501 not filed.Arjuna (Fictional Character): Krishna, Good News!!! Mumbai High Court on 3rd March, 2015 has ordered to assess and grant MVAT refund on the basis