Articles by CA Kushal Soni

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Below are some of the important points for Bank Audit while auditing MSME borrowers :  90 days delinquency norm is a condition for classification of majority of loans into NPA, loans to MSME sector is an exception to it, subject to certain conditions 90 days delinquency extended to..

Posted in Audit  2 comments |   1404 Views

1. To understand any accounting standard in a better way, it is of most importance to know the objective of the standard. Objectives primarily cover key areas which standard address and reason why standard came into existence. Objective of Ind AS-10: To prescribe when entity adjust its fina..

Posted in Accounts  2 comments |   1035 Views

Crowd Funding - A new way of connecting investor and startup. Technology intensive crowd funding platforms growing day by day to cater to the funding needs of startup businesses. Regulations and Legal compliances comes along with establishing a crowd funding platform. Read on to know more. Wh..

Posted in Professional Resource |   969 Views

One more step towards crackdown of shell companies.Form No. INC-22A "ACTIVE" Active Companies Tagging Identities and VerificationImportant Points:1. Applicable on all companies incorporated on or before 31st Dec 2017 - Not applicable on recently incorporated entities, reason could be MCA w..

Posted in Corporate Law  7 comments |   1846 Views

All about DIR-3 KYC eForm

  CA Kushal Soni    09 July 2018 at 10:45

From 10th July KYC Drive through the e-form DIR-3KYC be operational. MCA is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC Every Director who has been allotted DIN on or before 31st march, 2018 and whose DIN status is ‘Approved’. Due..

Posted in Corporate Law  3 comments |   2357 Views

In this highly IT-enabled compliance environment, professionals like CA CS CMA are still struggling to get suitable system requirements fulfilled for various filings at Income Tax website, MCA website, GST website, DGFT website, ESI PF websites, and the list will continue to endless. Every govern..

Posted in Info Technology  4 comments |   1154 Views

Treatment of Contract costs Incremental costs of obtaining a contract Costs to fulfil a contract Incremental costs of obtaining a contract An entity shall recognise as an asset the incremental costs of obtaining a contract with a customer if the entity expects to recover those costs ..

Posted in Accounts  4 comments |   1265 Views

Ind AS 115, Revenue from Contracts with Customers (based on IFRS 15), notified on 28 March 2018 by MCA. The new standard is effective for accounting periods beginning on or after 1 April 2018. Objective To establish the principles that an entity shall apply to report useful information to user..

Posted in Accounts  1 comments |   2292 Views

Life Insurance Premium: Life insurance policy can be taken on own life, life of spouse or child, child may be dependent/independent, male/female. Major/minor, married/unmarried. Life Insurance Premium should not exceed 10% of sum assured. It is advisable not to mix investments with insurance, buy..

Posted in Income Tax  15 comments |   6412 Views

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