CAclubindia Articles

Ind AS - A convergence to IFRS. Whether a Nightmare?

Posted by P.R. Sethuraman 12 September 2015 17800 Views

It is not an article on procedures and technicalities of IFRSs but a generic one for a common man who is more concerned with results than with accounting intricacies and sophistications. The term IFRS has four components �International- Financi

Gift (Receipt without Consideration) to Persons other than Individuals & Hindu Undivided Family

Posted by CA Preksha Choraria 12 September 2015 18612 Views

*What is Gift?In Layman�s language, gift is transfer of goods or property (movable or immovable) from one person to another without consideration. As per Income Tax Act, Receipt without consideration or Receipt with inadequate consideration, by

Six things a 'CIN' of a company can tell you

Posted by Guest 11 September 2015 46163 Views

What is CIN?Do you deal with companies? Have you ever come across a alphanumeric 21 digit code called CIN? Whenever you will look at Company’s details, you would see a CIN i.e Company Identification Number. As the name suggests, every company t

Corporate landscape of India

Posted by Guest 11 September 2015 12012 Views

Have you ever wondered how many companies are there in India? If you provide loan to Companies, sell them services or are involved in industry analysis, then this question must have occurred to you. Perhaps you know the answer too. As of June 2015, t

Basics of GST

Posted by CA Gagandeep Singh Kochar 01 May 2021 37904 Views

What is GST"Goods and Services Tax" would be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the Central and State governments.GST is a tax that we need to

Wake up call! 30th September 2015!

Posted by Kunal R. Sarpal 11 September 2015 25913 Views

Wake up call! 30th September 2015!File Foreign Assets and Liabilities Return (FLA Return) with RBIWhat is it?An Annual return on the Foreign Assets and Liabilities of the Company, notified under FEMA 1999. Return to be filed under A.P. (DIR series) a

No Special Session on GST as the Parliament prorogue Monsoon Session

Posted by Bimal Jain 11 September 2015 8088 Views

Dear Professional Colleagues,No Special Session on GST as the Parliament prorogue Monsoon SessionThe Cabinet has decided not to call for a Special Session to pass the much-hyped and much-delayed Constitution (122ndAmendment) Bill, 2014 on Goods and S

Elaboration of functions of company secretary

Posted by Amitav Ganguly 11 September 2015 13635 Views

{Section 205 of the Companies Act 2013}BACKGROUNDIn the modern corporate sector, the position of Company Secretary has gained critical importance. The significance has however evolved over a considerable period.Even earlier, the courts had held to th

Exemption for small scale units (SSI) under central excise

Posted by CA Gagandeep Singh Kochar 26 April 2021 18968 Views

Meaning of Small Scale Exemption.Under the provisions of the Central Excise Act a Small Scale Industry is one whose aggregate value of Turnover does not exceed Rs. One Hundred and Fifty Lakhs made on or after the 1st day of April

Is it justified to collect service tax on penalty charged?

Posted by Akarsh Tekriwal 11 September 2015 59128 Views

Telecom companies and Banks are charging service tax on late payment charges, Penalties, Penal interests, etc. If you credit card bill has a late payment charge of Rs.1000 on which Rs.140 will be charged as service tax. Service tax is to be charged