Articles by CMA Arif Farooqui
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Privatization of Public Sector Undertakings (PSUs)
Nowadays a debate is going on that Public Sector Undertakings (PSUs) must be privatized as they are not performing, their employees are not efficient etc. Rajiv...
CMAs' Role in Tax Audit
Finance Act, 1984 introduced Section 44AB under Income-tax Act, 1961 w.e.f Assessment Year 1985-86. Under this section, if the total sales / turnover or gross receipts for previous year exceed the prescribed limits then assessee is required to get hi
Salaried Person and their Expectation from Budget
As next year budget is just round the corner, everyone is expecting something from Finance Minister but we should understand, he has some limitations due to heavy fiscal deficits. There are numbers of points which we are expecting from this b
Responsibility of Professional Signing Annual Return
W.e.f from Financial Year 2011-12, Professional (CA, CMA, CS) signing MCA Annual Return have to certify whether Cost Accounting Record Rules -2011 (CARR) or Cost Audit Orders (CAO) are applicable on company or not and mention Product or Service
Career as Cost & Management Accountant
Before liberalisation of Indian Economy, career in finance was perceived as a back office record keeping job; but after the liberalisation it has become much more challenging and interesting. Today, it is seen as a career that provides greater roles
Taxability of Income from Real Estate
Real Estate is an ever green investment option in India and it has always given good returns. It can be a residential or commercial property. Real Estate gives recurring income in form of rent and appreciation in value in case of re-sale. As it
Procedures for incorporation of Company
The best way to start a business is to incorporate Private limited company because it has many advantages like limited liability of members and directors, separate legal entity, easy compliance, etc. A company can be formed with minimum 2 direct
FDI in retail
Dear Professional Friends, There is much cry about FDI in retail but on analysis it on economical point of view, I found in present situation, FDI in retails in very beneficial for Indian Economy. If you remember, same type of buzz was created at
Companies Cost Audit Order, 2011
Ministry of Corporate Affairs has issued various Cost Audit Orders in Financial year 2011-12, some of which applicable from Financial Year 2011-12 itself and some become applicable in Financial Year 2012-13. Various industries are being brought
Applicability of Cost Accounting Records and Compliance Certificate
MAINTENANCE OF COST ACCOUNTING RECORDS As per notification issued by Ministry of Corporate Affairs, dated 3rd June, 2011; The Companies (Cost Accounting Records), Rules 2011 shall apply to every company, including a foreign company, which is engag
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