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Forensic Audit
FORENSIC AUDIT-DEFINITION Forensic audit involves examination of legalities by blending the techniques of propriety , regularity and investigative and financial audits. The objective is to find out whether or not true business value has been reflect
Unfortunate that Professionals have certified
Dear Readers, I am sorry to come out with filling unpalatable information. A random scrutiny of XBRL filing of financial statements by few companies to MCA for FY 2010-11 reveals significant variations in disclosures in published results an
Tax collection at source: An Introduction
Tax in simple words refers to a compulsory contribution made to the government on a product, income or activity. The government uses the revenue from taxes to discharge the duties it has towards the people. I would like
10 consequences of Non-compliance with TDS provisions
Non-compliance with TDS provisions can result in: 1. Disallowance u/s. 40(a) (ia) of Income Tax Act, 1961 (Act). 2. Raising of demand u/s. 201(1) of the Act. Reason: - Where any perso
Circulars not binding on the Assessee - A Practical Analysis
HI! Friends and respected seniors, greetings of the day to all of you. Introduction- The revenue Departments have been empowered to issue circulars to clarify the position of law and these circulars are binding on the department(except CIT Appeals
NPA - Non Performing Assets
DUE AND OVERDUE Any amount becomes due on the fixed time of payment. It becomes overdue if it is not paid on that due date. In the same manner in customer banker relationship any amount due to the bank under a
Notes on Amendments in provisions applicable to directors in last two years
In last two years, Ministry of Corporate Affairs (MCA) has made many amendments/changes in provisions relating to directors of the company under the Companies Act, 1956
How to Earn from Personal Loans
Executive Summary: Personal loan by some school of thoughts is considered to be untouchable due to its many disadvantages, but some amount of financial modeling can make this very product very useful in number of ways i.e. Liquidity, Return, and
Various methods of Project finance
Introduction: For whom is it important to understand project finance? Financial managers Sponsors Lenders Consultants and practitioners Project managers Builders Suppliers Engineers. Researchers Students.
Successive presentation of Cheque and Cause of action
Introduction: Recently Supreme court bench consisting of Justices RM Lodha, TS Thakur and Anil Dave delivered its judgment in MSR Leathers v S. Palaniappan & Anr (MSR Leathers) holding that a payee or holder of a cheque can now issue a statu
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