CAclubindia Articles

Audit Committee

Ravikumar.G 11 October 2008 at 11:00

The provision of Sec 292A of the Companies Act, 1956 regarding the constitution and functioning of an audit committee:1. Every public co having paid up capital of not less than 5 crores of rupees shall constitute a committee of the Board known as &qu

Environmental Audit

Ravikumar.G 11 October 2008 at 10:51

Environmental reporting deals with the disclosure by an entity of environmentally related data like environmental risks, impacts, policies, strategies, targets, costs etc to those who have an interest in such information as an aid to enabling / enric

Negotiation Skills

CMA Jitendra Singh 08 October 2008 at 17:41

1.Don't be afraid to ask. Negotiators often fail to raise an issue because they don't think they have a chance of success. Don't be afraid. Not only do good negotiators ask for everything they want, they also make sure they don't end up with somethin

Deemed Dividend over Closely held private companies

CMA Jitendra Singh 08 October 2008 at 16:59

DEEMED DIVIDEND body { font-family:Arial; font-size:12px; }p { font-family:Arial; font-size:12px; }div { font-family:Arial; font-size:12px; } The concept of Deemed Dividend under the Income-tax Act, 1961(the Act) i

Sub-contract

VASANTH D JAGANATH 08 October 2008 at 13:41

Back to Back Contract – Case Study Works Contract subject is a maze of complexities. The judgments given by courts contradict in such a manner that the dealer is perplexed. Case: Mr. M is a main contractor. He receives contract from Mr. C (cu

Accounting experts push fair value rules

CA Himanshu Awasthi 06 October 2008 at 13:56

There will be no let-up in the use of fair market values for banks’ holdings, even in illiquid markets, according to international accounting rulemakers.The stance came in a draft paper published on Tuesday by an expert panel convened by the In

Common Credits- Confusion Galore

Madhukar N Hiregange 03 October 2008 at 15:31

Cenvat Credit Restriction under Rule 6- Confusion Galore Madhukar N Hiregange, FCA The credits under central excise and service tax have witnessed a number of changes over the years. First in 2002 Service tax credit was allowed within the service,

How to calculate SENSEX

Ravi Satpal 02 October 2008 at 20:02

The Sensex , an abbreviation of the BSE sensitive index, is a market capitalisation-weighted index of 30 stocks representing a sample of large, well-established and financially sound companies. It is the oldest index in India and has acquired a uniqu

company auditor

CA Ankur Mittal 02 October 2008 at 18:02

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 accountabl

CBDT Clarification :6th CPC Tax due on 60% arrears FY 08-09

RAJAN GUPTA 30 September 2008 at 23:16

Dear Friends,As I have already written a post about tax due on arrears from sixth pay commission .In that Post I have mentioned that as per section 192 of income tax act , tax is not deductible from the 60% of arrears which is to be paid in FY 2009-1