CAclubindia Articles

FRRBs observation on Non-Compliance in relation to AS-18

Rajavardhan.A 17 January 2013 at 12:40

The non-compliance's found by Financial Reporting Review Board (FRRB) on review ofgeneral-purpose financial statements of certain enterprises is regularly published in the ICAI Journal. January 2013 edition of the journal has the compilation o

New Proposed Provisions on Related Party Transactions

Arpit Shah 17 January 2013 at 12:39

1. Definition of Related Party in the Companies Bill 2012: related party, with reference to a company, means (i) a director or his relative (ii) a key managerial personnel or his relative (iii) a firm, in which a

4.94% Service Tax on Restaurant Bills - are we paying extra?

Navin 17 January 2013 at 12:39

From the plain and simple reading of the provisions of the Service Tax Law, one will simply understand that Service Tax can be levied only on the service portion of any activity. But generally the restaurant owners charge Service Tax on the total bi

A Small Note on Related Party Disclosure

CA Prashant Gupta 17 January 2013 at 12:39

A Small Note on Related Party Disclosure Sometimes relation between two or more enterprises effects the arm length price transactions between them. To know the effect of this relation on financial statement, one must know this relation. For this p

Reverse Charge Methodology under Service tax

CA. RAVIKUMAR 17 January 2013 at 12:39

Reverse Charge Methodology of Service Tax. The responsibility to pay service Tax: With effect from 1st July, 2012 The Government of India has notified the concept called reverse charge Methodology, A brief explanation about the same has been inc

SEBI Buy Back Modification - Open Market purchase 2013

AMITAVA BANERJEE 17 January 2013 at 12:39

Sebi buy back framework modification open market purchase 2013 CS Amitava Banerjee A repurchase of outstanding shares from investors, by a company using its surplus cash within a stipulated time frame at their prevailing market prices

HC grant stay against CBEC's Circular on Recovery of Demands

Bimal Jain 15 January 2013 at 13:27

AP High Court grant interim stay against CBECs Circular on recovery of confirmed demand during pendency of stay application The Central Board of Excise and Customs (CBEC) has issued its first Central Excise Circular No. 967/01/2013 - CX, dat

XBRL in details

Lakshmi 15 January 2013 at 13:26

1. What is XBRL? XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It provides major benefits in the preparation, analysis and communication of business

Taxation of Non Residents

CA Sumat Singhal 15 January 2013 at 13:26

TAxation of non residents Who is a resident for tax purposes? (Section 6) INDIVIDUAL An individual is considered as a resident if he is in India for 182 days or more in a previous year OR in India for 365 days o

Companies Bill 2012-Pvt & Public Companies

AMITAVA BANERJEE 15 January 2013 at 13:26

Position of Private and Public Limited Company - Companies Bill 2012 CS Amitava Banerjee Introduction: The existing business structure in India provides for two types of Companies, Private and Public. The Companies Bill 2012 has ushered