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Framework for computation of book profit for the purposes of levy of MAT


Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income tax Act 1961 for Indian Accounting Standards Ind AS compliant companies A Committee had been constituted with the approval of the Finance Minister to suggest the framework for computation of bo

Results of CA IPCC May 2016 exam declared


The Institute of Chartered Accountants of India ICAI established under the Chartered Accountants Act 1949 to regulate the profession of Chartered Accountancy It is one of the largest and prominent accounting body worldwide Chartered Accountancy profession has become a challenging career at the cutti

Synchronisation of financial accounting year with calendar year


Government has constituted a Committee to examine the desirability and feasibility of having a new financial year and give its recommendations by 31st December 2016 The terms of reference ToR of the Committee are as under Examine the merits and demerits of various dates for the commencement of the f

Applicability of Income Computation and Disclosure Standards


Applicability of Income Computation and Disclosure Standards notified under section 145 2 of the Income tax Act 1961 from Assessment Year 2017 18 The Central Board of Direct Taxes has vide Press Release dated 6 07 2016 For copy click here clarified that the Income Computation Disclosure Standards sh

ICDS to be applicable from 1st April 2016


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 6th July 2016 Subject Applicability of Income Computation and Disclosure Standards ICDS notified under section 145 2 of the Income tax Act 1961 Vide Notification No SO 892 E dated 31st March 2015 Ce

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Experts Opinions

Accrual Accounting


Dear Experts Could we make a payment and Recepit entry on the basis of bank Statements under Accrual basis of accounting Is it mandatory to make a entry through cheque book counterfoils and Deposit slips under accrual basis of accounting please reply

Under maintain Accrual basis of Accounting for Corporate


Dear Experts Could we make a payment and Recepit entry on the basis of bank Statements under Accrual basis of accounting Is it mandatory to make a entry through cheque book counterfoils and Deposit slips under accrual basis of accounting please reply

store accounting


please explain about stores accounting especially journal entry for inventory transaction

Accounting & Taxation Service


Sir I am M Com and CA inter Experience above 10 year I do part time accounts taxation jobs I want to enhance my business for this purpose can I open a tax consultancy firm as i am not a Chartered Accountant or Advocate if yes please suggest what types of Registration required Thanks

Accounting treatment for reversal of provision of liability


Dear All The company bought the building 6 years ago on loan For that provision for liability was created in the same year Depreciation was started to claim on yearly basis But as on date still the loan was not repaid Now I want to reverse the provision for non repayment because due to some circumst

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Standards on auditing

Short nots for ipcc standard on auditing

TDS ON ACCOUNTING CHARGES

Accouunting Charges paid to Mr A 15000pm is TDS deductible in this transaction

Related with accounting of e-commerce

If someone is doing business via Amazon Flipkart or any other online websites supoose if he sale T Shirt of Rs 500 to Mr A via Amazon got Rs 400 only from Amazon Diff is amazon kept as its Fees How one can record the transaction What one should treat this diff of rs 100 Is any TDS applicability on t

Accounting procedure for travel agency

how to accounting sales or purchase entry in travel agency

Deprecation & accounting treatment

In my company accounting there is sale of car the car value in the books is 5 25 441 and car sale date is 06 06 16 sale amount is 3 50 000 what is accounting treatment of this transaction in company books as well as in depreciation chart

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Accountants can do more than accounting


The professionals really should engage themselves into the business planning not only simply doing the Audit Accounting Taxation their contribution is required to integrate all the department in order to identify the derived contribution on spending even single rupees They should not act as a fear f


Tips and tricks to crack Cost Accounting and Financial Management Exam


For some students Cost Accounting and Financial Management is a nightmare while for some this subject is a cakewalk With less than 3 months to go for November 2016 attempt following tips can be followed to easily clear Cost FM exam Though all these tips apply generally to other subjects as well but


The Insolvency & Bankruptcy Code, 2016 - A Brief Snapshot


A historical economic reform in India took place when the Rajya Sabha on 11th of May 2016 passed the Insolvency and Bankruptcy Code 2016 This is considered as the biggest economic reform next only to GST Its a key reform that will make it much easier to do business in India and help the recovery of


Standards on Auditing - Not a choice but a compulsion


What are Auditing Standards The Standards on Auditing is an area which requires greater focus of CA in practice as well as our administrative bodies who are updating our members The Companies Act 2013 has discussed it in detail which was absent in erstwhile act As per Sec 2 7 auditing standards mean


Ind AS - IFRS Converged Accounting Standards applicable to India


On 16th February 2015 the Ministry of Corporate Affairs MCA has notified Companies Indian Accounting Standard Rules 2015 for applicability of Indian Accounting Standards Ind AS which shall come into force w e f 01st April 2015 Indian Accounting Standards are a set of accounting standards notified by


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Updated on : 9/25/2016 3:54:10 AM


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