CAclubindia Articles
Tax saving tips for the new year 2013
First of all Happy New Year to the readers and happy new tax benefits. 1. Every Family member to be an assessee: Every family member should be an income tax assessee to avoid clubbing provisions and avoid the gifting complications. 2. Prepare
Point of Taxation Rules,2011 with recent amendements
BACKGROUND OF RULES I will start my article with the wordings of Finance Minister while presenting the Budget proposal for the financial year 2011-12, the Finance minister said that in order to achieve a closer fit between the present servi
Proliferation of Black (Dirty) Money
PROLIFERATION OF BLACK MONEY THE EVIL MOTIVE: From the olden days where the barter system prevailed till the phenomenal phase of technology today, from small traders and merchants to the CEOs of vast business empires, there has always bee
A Review on Independent Directors
A Review on Independent Directors Independent Director- Definition- Clause -149 (6) An independent director in relation to a company, means a director other than a managing director or a whole-time director or a nominee director, (a) who
Hedge Accounting for Foreign Currency Firm Commitments
In Continuation of my previous article.. Application of AS 30 under existing Indian GAAP as per ICAIs announcement: ICAI wide its circular dated 11th February 2011, has clarified that in respect of the financial statements or other financial
ESIC in detail
Employee State Insurance (ESIC) Act, 1948 Objective The Employees State Insurance Act, ESI Act for short, was enacted by the Government of India in 1948. The major objective of the Act was to provide certain benefits to employees in ca
Cost Audit Compliance
Companies (Cost Accounting Records and Compliance) Rules, 2011 In respect of Companies engaged in production, procession, manufacturing or mining activity, and falls any one of the following category: Net Worth of Rs. 5 Crores or more; Turno
Life after CA
The day I became a Chartered Accountant, was undoubtedly the best day of my life. More than me though, I guess my parents and family members were thrilled. The most important dream at that stage of my career had been fulfilled. DREAMS DO COME TRUE
Enormous Opportunities of Employment?
Students pursuing courses like MBA, CS, CA etc. do know that they have enormous employment opportunities in India. Chartered Accountants (CA), Companies Secretaries(CS), Industrial Bodies/Associations, ICSI & ICAI do concentrate much on enligh
5 Things CFOs Should Do In Planning Process
In December, senior management focuses on formulating strategies. Department heads prepare business plans and budgets. Risk management departments define the next years agenda and plans. Everyone works hard at planning and preparing for the
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