CAclubindia Articles

Significance of Minutes of meetings and principles to be observed while drafting: Part-II

Posted by G S Rao 21 October 2013 16548 Views

Introduction: In my previous article (Part-I), a detailed analysis was made of the provisions of Section 118 of the Companies Act,2013(The Act,2013 or Act )and rules applicable to maintenance of minutes in electronic form. The topic of minutes wil

Section 194H - Principal and Agent Relationship?

Posted by CA Dhruva Kalamanji 21 October 2013 15790 Views

Section 194H Principal and Agent Relationship? In the normal course of business, to gear the sales the manufacture will give many types of incentives (in the form of commission or brokerage) and discount to his dealers. The very

Assets and Debt Management Using ABS and MBS

Posted by CA Arnab chakraborty 18 October 2013 14794 Views

This Discussion is about Asset-Backed Securities and Mortgage Backed Securities and use of it for releasing obligation for a specific fund created with specific purposes, say pension fund. A new Pension Investment committee has been formed

Sole Member/Nominee of a One Person Company (OPC)

Posted by Navin K Mishra 18 October 2013 23112 Views

OPC shall have one Member (Sole Member) and a Nominee (a person who shall; in the event of death or incapacity of original sole Member to contract; become the Member of OPC).

Provisions of Companies Act 2013 (Along with Draft) Relating to Audit & Auditors

Posted by CS DHANAPAL 17 October 2013 77203 Views

Companies Act, 2013 has been published in the official gazette for public information and will become applicable once the Ministry of Coprorate Affairs (MCA) notifies it. Accordingly, MCA has notified 98 sections of the Act on 12th September 2013 fo

Capital Gain Tax Simplified

Posted by CA Pallav Singhania 16 October 2013 59853 Views

Chargeability u/s 45 Profits or gains arising from the transfer of a capital asset is chargeable to tax in the year in which transfer take place under the head "Capital Gains". Definitions Transfer: Sec. 2(47): Transfer in relation to

The 7 Laws of Clearing CA Exams - 2

Posted by Nitin Soni 16 October 2013 62562 Views

First thing first. I am overwhelmed with the kind of response my previous article The 7 Laws of Clearing CA Exam got. Almost 10,000 view and more than 100 comments. Wow! Thank you friends for appreciating my effort. When I wrote the

Preparing for Government Audit

Posted by Anurag 16 October 2013 22112 Views

EXPENDITURE AUDIT (M99,M07)(N01,N03,N06)(N11) Audit against Rules &Orders(M08) Is expenditure = in conformity with statutory provisions and financial rules and regulations? Functio

Few thoughts on Income Tax Scrutiny Provisions

Posted by Mahesh Kapasi 16 October 2013 22641 Views

Few thoughts on Income Tax Scrutiny Provisions is it Income scrutiny or Expenditure one! Once upon a time there was an Expenditure Tax it was so unpopular that government had no option but to withdraw it. Now indirectly it is in vogu

Service Tax on Restaurants and Hotels: A Legislative Competence

Posted by Bhaskaran Chackrapani Warrier 16 October 2013 72208 Views

SERVICE TAX ON RESTAURANTS AND HOTELS – LEGISLATIVE COMPETENCE The Finance Act,2011 has inserted sub clause (zzzzv) and (zzzzw) to section 65(105) of the Finance Act,1994 thereby imposed service tax on restaurant services and short term