CAclubindia Articles

Independent Directors- How much independent in India?

Ca Jai Prakash Agarwal 12 March 2015 at 12:21

The concept of independent directors is very holy concep

Where is my fundamental right to stupidity?

CA Anil Garg 12 March 2015 at 12:21

अब जबकि देश उपलब्धियों के दौर से गुज़र रहा है, it is high time de facto is recognized as de jure. After all, civilization and values have not come from God that they cannot be changed, but they have evolved over period of time, and keep changing. Ther

Mortality of independent directors

Sundharesan Jayamoorthi 11 March 2015 at 11:09

Independent Director is an important character inside any listed companys boardroom and in some of the well-governed companies. Few decades back the independent director used to be hand picked personally by the CEO and the name was recommended

Non friendly provisions of budget for middle class

CA Satish Badve 11 March 2015 at 10:21

Reasseement U/S 148 Notice of reaseement u/s148 can be issued by Assessing Officer, after the expiry of four years from the end of relevant assessment year. Though, It requires the permission of the higher authority of specific rank, the assessee ne

Cash flow statement (CFS) is mandatory

SAMEER AHMED 11 March 2015 at 10:21

Earlier Company act 1956 didnt include cash flow statement in the Defination of Financial statement,However as per New Company Act 2013, the Cash flow statement shall to prepare.As per Sec 2(40) for financial statement in relation to a

Recovery without SCN constitutionally valid?

Pradeep Jain 11 March 2015 at 10:21

MISTAKE IN DECLARING LIABILITY WILL LEAD TO RECOVERY WITHOUT SCNOrRECOVERY WITHOUT SCN-CONSTITUTIONALLY VALID? Introduction:- This article is an attempt to analyse the impact of amendment made in section 11A of the Central Excise Act, 1944 and sectio

How to exercise your taxes to ensure financial health

Sanjit Agarwal 11 March 2015 at 10:21

The Income Tax Act 1961 devotes an entire section to Income Tax Deductions available to Indian tax payers. If we take note of the deductions and invest in the right products at a regular pace, we will inculcate financial discipline that will go a lon

Expiry date for directors

Sundharesan Jayamoorthi 10 March 2015 at 10:37

March 31 is round the corner and every director has to be doubly vigilant about his existence as some of the mundane provisions listed out in the Companies Act, 2013 (Act) prescribe for a expiry date for a director in case of certain no

Budget 2015 not for small & medium service sector

CA Satish Badve 10 March 2015 at 10:36

BUDGET 2015 Hon. Finance Minister has presented first Full year budget of his Govt. on 28.02.15. The expectations were very high and everyone wish this budget as dream budget which have at least something for all say 125 crores of the Indian populati

Stage now set for implementing Accounting Standards converged with IFRS

CA. Rajvir Bhatnagar 10 March 2015 at 10:36

Ministry of Corporate Affairs has finally announced the Companies (Indian Accounting Standards) Rules, 2015 for applicability of Accounting Standards converged with IFRS. A notification in this regard has been issued on 16th February, 2015. Important