CAclubindia Articles

Ledger Scrutiny - Backbone of Statutory Audit

SANYAM ARORA 30 August 2012 at 16:42

Greetings of the Day to all the members of CCI Family. So Professionals September season is going to start & i know everyone will be busy with their respective Audits. The same thing is happening with me & i am also fed up of 6 A.M TO 10 P

Indian investors needs communication - Beyond Awareness

Indraneel Sen Gupta 30 August 2012 at 12:43

Indian economy has been recently downgraded by global rating agency. Well that is the half hearted knowledge being carried by one simple investors, broker and among the financial community.Well why half hearted and where are the loopholes between i

Companies Cost Audit Order, 2011

CMA Arif Farooqui 30 August 2012 at 12:43

Ministry of Corporate Affairs has issued various Cost Audit Orders in Financial year 2011-12, some of which applicable from Financial Year 2011-12 itself and some become applicable in Financial Year 2012-13. Various industries are being brought

Banks going back from 'Settlement of Default/Debt'?

Durga Rao 30 August 2012 at 12:43

It is known that while some loan transactions with the Bank like Housing Loan, Educational Loan etc. are very simple, some commercial loan transactions are very complex in nature. The Bank may provide various loan facilities to the Borrower and mo

Applicability of Cost Accounting Records and Compliance Certificate

CMA Arif Farooqui 30 August 2012 at 12:42

MAINTENANCE OF COST ACCOUNTING RECORDS As per notification issued by Ministry of Corporate Affairs, dated 3rd June, 2011; The Companies (Cost Accounting Records), Rules 2011 shall apply to every company, including a foreign company, which is engag

Section 54 EC case laws

Saurabh Maheshwari 28 August 2012 at 11:27

Beauty of case laws- Whether its Direct tax law or Indirect tax law or corporate or allied laws, case laws are very important to digest the provisions of law conceptually. The beauty of case law is that it is not only interesting but also clarifies

Cash basis of accounting followed by non corporate entities

Vivek Hebbar 28 August 2012 at 11:27

Note on Cash Basis of Accounting followed by non-corporate entities in India Non-corporate entities in India may include an individual, a proprietory concern, a Hindu Undivided Family (HUF), a partnership firm, a LLP, a trust, etc. Unlike a

Functional Currency's consequential Impact on Deferred Tax

Sanjay Chauhan (IFRS) 27 August 2012 at 12:00

In continuation of my previous article, this article highlights the consequential impact of having two sets of functional currency (one for GAAP reporting and other Tax submissions) on deferred tax computation under Ind AS 12, which again is based

Cenvat Credit on own retail shop/showroom

Arun Kumar Singh 27 August 2012 at 12:00

The definition of input services in the Cenvat Credit Rules to submit that all the services which are used by the manufacturer whether directly or indirectly till the place of removal are eligible as input service credit.

Strategy for clearing CA Final - Part 1

pratik jain 23 August 2012 at 13:09

Hi folks . I cleared CA FINAL in NOV 2011 in my FOURTH ATTEMPT! So most people will say I have no right to give GYAAN on how to pass ca final in one sho. But hey!! before you write me off let me tell you i am the right person because i know what