All Penalties under Companies Act, 2013
The law poses various obligations to be discharged by the Companies , Directors, Managers and other Officials. Non-compliance of such obligations attracts punishment which may be imprisonment and/ or...
View ArticleImportance of cash in a portfolio
When in a bull market, the returns are coming in so fast that investors hate idle cash the most. They see cash as a loss of returns, an opportunity cost. So much for not wanting cash in portfolio, they...
View ArticleHow NRIs can make use of Recurring Deposits?
For NRIs looking forward to make huge savings with small monthly investments, the Recurring Deposits seems to be an excellent option. A recurring deposit account is one that enables the depositor to...
View ArticleChartered Accountants Examinations- An Over View
1. CA EXAMINATIONS – AN OVERVIEW 1.1 Chartered Accountants examinations are held as per the provisions of the Chartered Accountants Regulations, 1988, framed under Chartered Accountants Act, 1949. 1.2...
View ArticleTaxation of Association of Persons
The income tax Act prescribes a specific mode for calculation of income and taxability in the case of Association of Persons. Let’s first discuss what is an Association of Persons. An association of...
View ArticleAudit Methodology – School (Trust)
Income and Expenditure Account: Income The primary income of the trust has been arising from the tution fees collected from the students. There are also some other sources from which income has been...
View ArticleGST- Proposed Input tax credit methodology
GST- Proposed Input tax credit methodology Goods & Service tax (GST), the mile stone tax reform since independence of India is on its way to implementation journey and proposed GST bill is under...
View ArticleSome relief to auditors, from hanging penalty sword of Rs 25,00,000
26th March 14- Sec 143(12) of Company Act 2013 was notified, which created obligation on auditors to report certain frauds to Central Government (Secretary MCA) As it is a law, materiality limit is not...
View ArticleStrategic debt restructuring – An introduction
1. PREAMBLE: The concept of Strategic Debt Restructuring (“SDR”) has been introduced by the Reserve Bank of India (the “RBI”) in the SDR Scheme (the “Scheme”) to help banks recover their loans by...
View ArticleLODR – Comply in spirit but will it evaporate
When SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (that is referred as LODR) was introduced professionals exclaimed OMG (oh my GOD) but the speaker in a seminar referred...
View ArticleMeasurement of Debt Instruments under Ind AS
Financial Instruments are valued either at amortised cost or at fair value. Fair value valuation could be either by fair value through Profit and Loss or Fair value Through Other Comprehensive Income;...
View ArticleAn overview of GST
Introduction Winston Churchill has rightly said, “To improve is to change, to be perfect is to change often” Change is inevitable and is very important because change leads to development and...
View ArticleSection 35 of Income Tax Act – A Student’s Guide
With roughly 4 months left for May 2016 exams, it is high time the students taking up the exams to start their preparations. Direct taxes are arguably the most voluminous of all papers. And In Direct...
View ArticleAnalysis of the Companies (Meetings of Board and its Powers) Second Amendment...
The Analysis of the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015 and Companies (Audit and Auditors) Amendment Rules 2015 which was published in the Gazette of India as on...
View ArticleThe thrust of corporate meetings
Assume a situation where company wants to appoint a new director or wants to increase its share capital. Now the question arises how company can give effect to the proposed business because company...
View ArticleThe risk of investing most of your money in real estate
Property, in the form of real estate, a piece of land, or an apartment or house, is considered to be fairly good investment option. Simple investors feel happy and contended when they invest their...
View ArticleOmnibus approval for related party transaction
In case of Companies Act, is the board required to approve all related party transactions from audit committee? [1] The Companies Act 2013 prescribes that a company needs approval of the audit...
View ArticleTechniques of fraud reporting By auditors
Companies Act, 2013 has introduced provisions for detecting fraud at the grassroots level by forcing accountability to the Auditors of the Company. Accordingly Central Government notifies the Companies...
View ArticleProcess of condonation of delay
PROCESS OF CONDONATION OF DELAY IN CREATION/MODIFICAITON/SATISFACTION OF CHARGE CHARGE: Section 77 states that Companies are required to register ALL TYPES OF CHARGES, with ROC within 30 days of its...
View ArticleBlack economy sources, cause and effect analysis with remedies
The higher education sector, real estate deals, mining income etc., are major sources of India’s black economy (hereafter mentioned to as “informal economy / informal income / informal money“) and is...
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