CAclubindia Articles

Audit of educational Institutions

Posted by Member (Account Deleted) 06 June 2023 392235 Views

Audit of books of educational institutions i.e. Schools, Colleges, Universities etc is known as audit of educational institutions. This type of audit comes under the category of special audit.Generally, the procedures for auditing is same like other

Internal Financial Controls (IFC)

Posted by CA Diwakar Jha 06 June 2023 250964 Views

As per Section 134 of the Companies Act, 2013 (the Act), the term 'Internal Financial Controls' means the policies and procedures adopted by the company

Understanding the concept of Body Corporate

Posted by Ekta Ahlawat 06 June 2023 166679 Views

A Body Corporate includes all companies including companies incorporated outside India as well as incorporated in India, except for a Co-operative Society.

SEBI's Informal Guidance: Applicability of BRSR

Posted by Antika Mukherjee 06 June 2023 2518 Views

The Company sought an interpretative letter from the SEBI under the SEBI (LODR) Regulations, with a view to seek clarification for the doubts regarding the applicability of Business Responsibility and Sustainability Reporting ("BRSR").

Incomes which are now reported in AIS for Individuals

Posted by CA Umesh Sharma 05 June 2023 10040 Views

The Income Tax Department has announced the roll-out of a statement namely Annual Information Statement (AIS) which would provide you with almost all details about your financial transactions during the year.

Conversion of Limited Liability Company (LLC) to S Corporation

Posted by Ishita Ramani 05 June 2023 2200 Views

A Limited Liability Company (LLC) is a business structure where the owners are called members. It combines the characteristics of a sole proprietorship, partnership, and corporation.

Can Taxing Agricultural Income Benefit Farmers in India?

Posted by CA Pallav Singhania 05 June 2023 4322 Views

Introducing a slab-based taxation system for agricultural income could be a feasible approach. By doing so, the burden of taxation can be adjusted according to the income levels of the farmers.

Unveiling Power of Section 71: Accessing Business Premises under GST Act

Posted by CA Harshit Goyal 05 June 2023 17468 Views

Under Section 71 of the GST Act, any officer authorized by a proper officer, not below the rank of Joint Commissioner, has the authority to access the premises of a registered person's business

All about Goods Sent on Consignment - Accounting, Commission, and Account Sales

Posted by CA Santhosh Gupta Kethepalli 03 June 2023 265090 Views

Know all about Goods Sent on Consignment, its Accounting, different types of Commission and Account Sales.

Input tax credit on insurance expenses under GST

Posted by CA Roopa Nayak 03 June 2023 166985 Views

In this article the paper writer has examined the major kinds of insurance expenses incurred by the taxpayer and the restrictions and eligibility to the credit thereof, relevant decisions in this context as well.