CAclubindia Articles

Our Role is circumscribed: Salute NFRA!

Vijay Kalia 17 January 2013 at 13:40

I had the occasion to write sometimes back on this website in my articles Repot on Satyam Fiasco about the fact that we lost an opportunity in Satyam Computers fraud case as our re

An outsider's perspective to ICAI Elections 2012

Ashish Kedia 17 January 2013 at 13:40

With the Code of Conduct on Elections now having been lifted by the ICAI, I thought this article is in place Dear Mr. / Ms. Candidate, It all started about 2-3 months ago, when I suddenly starting receiving e-mails in my inbox from unknown

Revised Schedule VI of Companies Act, 1956

PRATEEK LOONKAR 17 January 2013 at 13:39

GET-SET-GO with International Practices 1.Overview The Ministry of Corporate Affairs vide its notification no. S.O. 447E dated 28-2-2011 (as clarified by notification no. F.No. 2/6/2008-CL-V, dated 30-3-2011) has issued Revised Schedule VI which

Note on Conversion of Partnership Firm into a Limited Company

Ajay Mishra 17 January 2013 at 13:36

NOTE ON CONVERSION OF PARTNERSHIP FIRM INTO A LIMITED COMPANYINTRODUCTIONPartnership is a kind of organization, in which, few like-minded persons pool up their resources to form a partnership firm. Section 4 of the Partnership Act, 1932, defines part

Shadow Directors - Myth or Reality

AMITAVA BANERJEE 17 January 2013 at 13:36

CS Amitava Banerjee It is generally presumed that the business of corporate entities is controlled and transacted by their Board of directors, which occupies a fidu

Societies Registration Act, 1960- A Glimpse

CS SIDDHARTHA BANIK 17 January 2013 at 12:40

INTRODUCTION This article contains brief description of formation of a Society in India under the Societies Registration Act, 1960. In this article, I have tried to highlight the procedural formalities, important provisions of th

FRRBs observation on Non-Compliance in relation to AS-18

Rajavardhan.A 17 January 2013 at 12:40

The non-compliance's found by Financial Reporting Review Board (FRRB) on review ofgeneral-purpose financial statements of certain enterprises is regularly published in the ICAI Journal. January 2013 edition of the journal has the compilation o

New Proposed Provisions on Related Party Transactions

Arpit Shah 17 January 2013 at 12:39

1. Definition of Related Party in the Companies Bill 2012: related party, with reference to a company, means (i) a director or his relative (ii) a key managerial personnel or his relative (iii) a firm, in which a

4.94% Service Tax on Restaurant Bills - are we paying extra?

Navin 17 January 2013 at 12:39

From the plain and simple reading of the provisions of the Service Tax Law, one will simply understand that Service Tax can be levied only on the service portion of any activity. But generally the restaurant owners charge Service Tax on the total bi

A Small Note on Related Party Disclosure

CA Prashant Gupta 17 January 2013 at 12:39

A Small Note on Related Party Disclosure Sometimes relation between two or more enterprises effects the arm length price transactions between them. To know the effect of this relation on financial statement, one must know this relation. For this p