CAclubindia Articles

Key Highlights of Rail Budget 2015

Posted by CA SONIYA AGARWAL 27 February 2015 9852 Views

Indian Railway Minister Suresh Prabhu announced the much awaited Railway 2015 budget at 12 noon on Thursday February 26. Chartered Accountant-turned Railway Minister Suresh Prabhu put forward Premier points like: Energy Conservation, Technology Absor

How an act of kindness taught me the Lesson "Just Do It"

Posted by Nimish Goel 27 February 2015 9921 Views

This article has been inspired from an incidence from my personal life that happened yesterday night (24th February 2015). I had gone out for dinner with a friend who also happens to be my gym buddy. Although, both of us are quite regular going to ou

TDS u/s 195: Reimbursement of Expenses

Posted by CA Rohit Gupta 27 February 2015 182940 Views

Taxability of Reimbursement of expenses has always been a contentious issue. In most of the cases, assessee get away with non-taxability of reimbursement of expenses on the plea of no profit element. However, in some cases, even without profit elemen

The Budget traditions

Posted by Anjani Kumar Sharma 26 February 2015 9164 Views

The Union Budget brings in a lot of colours and excitement with it. There are myriads of rituals and traditions forming part of the rich heritage. In an effort to identify the most interesting rituals we have compiled the following: The 5:00 P.M. St

Companies Act, 2013- Sec 128 books of accounts

Posted by CA Sripriya K 26 February 2015 78161 Views

Introduction Section 128 of the Companies Act deals with the books of accounts to be kept by the company. As per this section every company shall prepare and keep at its registered office books of account and other relevant books and papers and

Decoding 2015 statutory audits of the banks

Posted by Amresh 26 February 2015 13949 Views

A chartered accountant is mandated to conduct statutory and other audit of banking industries. This is in compliance of various statutes applicable to

Offences for which punishment for fraud prescribed u/s 447

Posted by CS M.Kurtrala Nathan 26 February 2015 6213 Views

Section 447 Punishment for Fraud: Any person who is found to be guilty of fraud Imprisonment for a term which shall not be less than 6 months but which may extend to 10

TDS U/S 195- Reimbursement of salary of seconded employees

Posted by CA Rohit Gupta 26 February 2015 21528 Views

Secondment of employees by foreign parent company to Indian subsidiary is a regular feature considering the requirements to meet their global standards of quality and to ensure proper functioning and assistance to Indian Subsidary Companies. However,

Services which can be rendered by the auditors

Posted by CS Divesh Goyal 25 February 2015 16656 Views

As per Provisions of Section- 144 of Companies Act, 2013, A Statutory Auditor of company cant provide the following below mentioned services to followings: Services which a Statutory Auditor cant provide directly or indirectly to above

Ind AS 2 - Inventories

Posted by Ashima chachra 25 February 2015 58676 Views

1. Objective: a) Deals with the determination of cost ,b) Subsequent recognition as an expense , including any write-down to NRV ,c) Guidance on the cost formulas that are used to assign costs to inventories.2. Scope: This Standard applies to all inv