If the Assessing officer or Commissioner (Appeals) in the course of any proceedings under the Act is satisfied that any person has concealed the particulars of his income or furnished inaccurate particulars of such income, then he can direct that suc
Why IFRS? Ø Numero-uno accounting framework with global acceptance.Ø Business going global, more cross border transactionØ Access to international capitalØ Single global financial reporting language&O
The following IFRS statements are currently issued:IFRS 1 First time Adoption of International Financial Reporting Standards IFRS 2 Share-based Payment IFRS 3 Business Combinations IFRS 4 Insurance Contracts IFRS 5 Non-current Assets Held for Sale an
Discussion on Basics of Financial Market Discussion 1 What are the various types of financial markets? The financial markets can broadly be divided into money and capital market. Money Market: Money market is a market for debt securities that p
Duties of the Nominee direcotr/Alternate directors a the year endThe Nominee Director/Alternate Director shall give a notice to the investee company in the prescribed Form 24AA under the Companies (Central Government’s) General Rules & Form
AN OVERVIEW RELATING TO AUDIT UNDER THE COMPANIES ACT, 1956 Audit of Annual Accounts of a company is compulsory and is indispensable part of incorporated business. Those who carry on business with the other people’s money have to be accountab
Valuable Information. If you watch any news channel or listen to any of your colleagues talking you would have invariably heard the term "Shares". The term shares used here refers to "Equity Shares". "Equity Shares" ar
Every employee of an establishment covered under the Act is entitled to bonus from hisemployer in an accounting year provided he has worked in that establishment for not less thanthirty working days in the year on a salary less than Rs. 3,500 per mo
The third quarter financial results make it clear that the slowdown continues and may prolong. A worst hit sector in the current crisis has been infrastructure, having been hit twice, first by the steep price rise of inputsin land prices raw material
Income from business and Profession 1. What does ‘Profession’ mean? Profession means exploitation of one’s skills and knowledge independently. Profession includes vocation. Some examples are legal, medical, engineering, architectu
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