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Understanding Deficit Financing
Deficit financing is that, which, if used responsibly, can lead an economy to prosperity; however, if used thoughtlessly, can do the opposite. It is the tool suggested years ago by known economist John Keynes, and used today throughou
A Radical Change Proposed through: Arthkranti Pratishthans Transaction Tax
Greetings of the day. A new system of taxation is proposed by a Pune based research group Arthkranti Pratishthan where it has 5 components in its proposal: 1. Withdrawal of existing Taxation system completely (except Customs i.e. Import Duty)2. Every
CA Studies are always interesting
CA STUDIES ARE ALWAYS INTERESTING .Studies. and of CA.. Interesting..? Man, what are you talking about!.Yes, it is true indeed.. Those who wish to make simple things typical..can choose CA as their Career..and those
Service tax on services provided by RWA to its own members
Dear Professional Colleague,Clarifications with regard to levy of service tax on services provided by RWA to its own members Background:Service tax on 'club or association service' which covers RWA, was introduced with effect from June 16, 20
Deemed Sales
Before the discussion on deemed sales we must be well known of the general facts of sale.Meaning of Sale There are various definitions of the term Sale is generally specified in different laws and different State VAT acts. Hence we nee
Audit of Banks with the help of Finacle
Audit of Banks with the help of FinacleThe banking sector in India has developed tremendously after it adopted the Core Banking Solution (CBS). Finacle is also one of such CBS softwares developed by Infosys. Many nationalized banks such as Bank of B
Delhi VAT Amnesty Scheme closing by 31st January, 2014
Dear Professional Colleagues,Delhi VAT Amnesty Scheme closing by 31st January, 2014 Pursuant to the power conferred by Section 107 of the Delhi Value Added Tax Act, 2004 (the Actor DVAT), the Lt. Governor of National Capit
It sounds interesting - One Person Company
Under the existing Company Law framework, a private limited company is required to have a minimum of two shareholders and two Directors. But The Companies Act, 2013 passed by the Lok Sabha provides for the concept of a One Person Company (OPC) in Ind
Brief synopsis for chapters in Financial Reporting
Consolidated financial statements (CFS) which lead to the subsidiaries of the holding company its summative accounting figure. Putting another way, consolidated financial statements can be addressed as the combined financial statements of a parent
Financial Reporting
Financial Reporting A financial report is a formal record of the financial activities of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form easy to understand, including related note
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