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TDS U/S 195- Reimbursement of salary of seconded employees
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
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
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
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?
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
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
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)
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
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
Main Hoon Na - CSR is not street charity?
Street Charity chant, please do charity in the name of almighty, reaction to this may be impulsive, we donate but without knowing the cause. This impulsive charity does not require the caregiver to look back on who the beneficiary is an
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