CAclubindia Articles

Deemed Sales

Posted by Rishi Kochar 16 January 2014 94792 Views

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

Posted by Pranav Vijay Pandya 16 January 2014 321495 Views

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

Posted by Bimal Jain 16 January 2014 19547 Views

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

Brief synopsis for chapters in Financial Reporting

Posted by Rahul Malkan 15 January 2014 47281 Views

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

It sounds interesting - One Person Company

Posted by Aalok Chhaperwal 16 January 2014 10021 Views

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

Financial Reporting

Posted by Rahul Malkan 15 January 2014 37558 Views

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

The Companies Act, 2013 - Provisions relating to Directors

Posted by G S Rao 15 January 2014 235859 Views

Introduction: The Board of Directors is an important body elected by the shareholders which acts as agent of shareholders. The Board is collectively responsible for making policies for good governance and efficient running of the company. The Compani

Karniti Part-19: Kite Fight between Taxpayer & IT Dept

Posted by CA Umesh Sharma 15 January 2014 17760 Views

Arjuna (Fictional Character): Lord Krishna, all are happy and enjoying as two festivals Makar Sankranti and Eid are coming together. Children are busy flying colorful kites in the blue sky. Kites o

How to make sure your Income Tax return is not rejected?

Posted by Palak Aggarwal 15 January 2014 22942 Views

Most of us file our income-tax (I-T) returns online before the July 31 deadline. Electronic filing (e-filing) is convenient and you can even pay your taxes online. However, filing your returns online does not mean that the process of fi

Taxation of Salary - Points need to know as an employee

Posted by CMA Ramesh Krishnan 15 January 2014 63889 Views

Taxation of Salary Points need to know as an employee (Part- 1) Introduction: It is January again and the first month of last quarter for the financial year 2013-14, All the employers are in the process of start asking your proofs for your