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Articles by CA Sripriya K

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Black Money (Undisclosed Foreign Income and Assets ) and Imposition of Tax Act 2015

  CA Sripriya K    04 September 2015 at 10:50

1. What is this new Act all about ?Flight of money representing undisclosed incomes and asset creation abroad has been a perennial source of concern. As a one time measure to combat, control and bring to tax such black moneys, the Indian governmen

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Posted in Income Tax  4 comments |   13746 Views


FAQ on New Companies Act, 2013- Auditor's Restricted Services

  CA Sripriya K    22 June 2015 at 10:41

Our firm also renders accounting services for a client for the year 2014-15. Can we be the auditor for the year 2014-15.According to Sec. 144 an auditor appointed under this Act is bound by the Board of directors or the Audit committee to provide o

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Posted in LAW  3 comments |   16884 Views


FAQ on New Companies Act, 2013- Auditor's Rotation

  CA Sripriya K    16 June 2015 at 10:28

We have been the Statutory Auditors of XYZ Private Limited for 20 years now. Can we sign the financial statements as auditors for YE March 31, 2015. Or should be pave way for another firm on account of Audit rotation. Although Sec 139(2) makes

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Posted in LAW  2 comments |   23790 Views


FAQ on auditor appointment under companies act, 2013

  CA Sripriya K    11 June 2015 at 11:03

A. Auditors Appointment1. What are the critical aspects to be considered before accepting appointment as auditor Parameter Act Reference Content Education Sec 141(1) A Chartered Account

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Posted in Corporate Law  7 comments |   29235 Views


ICDS, the basic questions

  CA Sripriya K    29 April 2015 at 10:48

1. What is ICDS? The Ministry of Finance has issued ten Income Computation and Disclosure Standards (ICDS), which is a new framework for computation of taxable income 2. Who does it apply to ?It applies to all assesses in relation to their income und

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Posted in Income Tax  2 comments |   25836 Views


Exemptions for CARO

  CA Sripriya K    25 April 2015 at 11:43

The previous and the present CARO is placed side by side for easy reference. Please note that CARO will not be applicable for certain categories of Companies as stated in the order. Companies (Auditor's Report) Order, 2003 Compan

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Posted in Audit  3 comments |   30045 Views


Auditors report for 2014-15- FAQ

  CA Sripriya K    10 April 2015 at 10:32

There have been several mails and calls seeking clarifications on the Auditors Report to be issued for the period ended March 31, 2015. I summarise the issues as under in the form of an FAQ. What is the present ( as at April 9, 2015 ) position on Aud

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Posted in Audit  1 comments |   40374 Views


Loans from directors, relatives, members for Pvt. Ltd. companies

  CA Sripriya K    01 April 2015 at 10:49

In what will be seen as a major relief to Private Limited Companies, the MCA has finally clarified that amounts received by Private Companies ( prior to April 1, 2014 ) from Members, Directors or their relatives prior received prior to April 1, 2014

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Posted in Corporate Law  2 comments |   19623 Views


Companies Act, 2013- Sec 447 & 448 - Fraud

  CA Sripriya K    12 March 2015 at 12:21

1.Introduction Aspect Intent Result Punishment Sec 447 fraud in relation to affairs of a company or any body corporate, includes any act, omission, concealment of any fact or abuse of position comm

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Posted in Corporate Law  2 comments |   56106 Views


Companies Act, 2013- Sec 128 books of accounts

  CA Sripriya K    26 February 2015 at 10:40

Introduction Section 128 of the Companies Act deals with the books of accounts to be kept by the company. As per this section every company shall prepare and keep at its registered office books of account and other relevant books and papers and

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Posted in Corporate Law  4 comments |   74244 Views