Articles by CA Sripriya K
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One Person Company - An Introduction
Section 3 of the Companies Act deals with the Formation of Companies. The corresponding section of the erstwhile Act was Section 12 – Mode of forming incorporated Company.
Exemptions for CARO
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
ICDS, the basic questions
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
Black Money (Undisclosed Foreign Income and Assets ) and Imposition of Tax Act 2015
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
FAQ on New Companies Act, 2013- Auditor's Restricted Services
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
FAQ on New Companies Act, 2013- Auditor's Rotation
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
FAQ on auditor appointment under companies act, 2013
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
Auditors report for 2014-15- FAQ
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
Loans from directors, relatives, members for Pvt. Ltd. companies
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
Companies Act, 2013- Sec 447 & 448 - Fraud
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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