CAclubindia Articles

HUF - A Tax entity for your benefit

KCJM and Associates 07 January 2013 at 11:46

A Common Question which a Taxpayer usually asks a Chartered Accountant at the time of filing his Income tax Return; How to save tax legally by forming HUF? The Hindu Undivided Family (HUF) structure is a very effective way to save tax and a lot of p

Hedge Accounting for Foreign Currency Firm Commitments

Sanjay Chauhan (IFRS) 07 January 2013 at 11:45

In Continuation of my previous article.. Application of AS 30 under existing Indian GAAP as per ICAIs announcement: ICAI wide its circular dated 11th February 2011, has clarified that in respect of the financial statements or other financial

A Review on Independent Directors

CS M.Kurtrala Nathan 07 January 2013 at 11:45

A Review on Independent Directors Independent Director- Definition- Clause -149 (6) An independent director in relation to a company, means a director other than a managing director or a whole-time director or a nominee director, (a) who

Proliferation of Black (Dirty) Money

R. Sudarshan Bala 07 January 2013 at 11:44

PROLIFERATION OF BLACK MONEY THE EVIL MOTIVE: From the olden days where the barter system prevailed till the phenomenal phase of technology today, from small traders and merchants to the CEOs of vast business empires, there has always bee

Point of Taxation Rules,2011 with recent amendements

Kaushik Vinod 07 January 2013 at 11:44

BACKGROUND OF RULES I will start my article with the wordings of Finance Minister while presenting the Budget proposal for the financial year 2011-12, the Finance minister said that in order to achieve a closer fit between the present servi

Cost Audit Compliance

Rajat Poddar 05 January 2013 at 15:05

Companies (Cost Accounting Records and Compliance) Rules, 2011 In respect of Companies engaged in production, procession, manufacturing or mining activity, and falls any one of the following category: Net Worth of Rs. 5 Crores or more; Turno

ESIC in detail

@VaibhavJ 05 January 2013 at 15:05

Employee State Insurance (ESIC) Act, 1948 Objective The Employees State Insurance Act, ESI Act for short, was enacted by the Government of India in 1948. The major objective of the Act was to provide certain benefits to employees in ca

Enormous Opportunities of Employment?

Durga Rao 05 January 2013 at 10:25

Students pursuing courses like MBA, CS, CA etc. do know that they have enormous employment opportunities in India. Chartered Accountants (CA), Companies Secretaries(CS), Industrial Bodies/Associations, ICSI & ICAI do concentrate much on enligh

Life after CA

CA Priyank Singhi 05 January 2013 at 10:25

The day I became a Chartered Accountant, was undoubtedly the best day of my life. More than me though, I guess my parents and family members were thrilled. The most important dream at that stage of my career had been fulfilled. DREAMS DO COME TRUE

Hedging Foreign Currency Firm Commitments

Sanjay Chauhan (IFRS) 03 January 2013 at 12:41

Introduction Institute of Chartered Accountants of India (ICAI) had come out with an announcement in February 2011, on Application of AS 30, Financial instruments: Recognition and Measurement. It was clarified that the prepares of Financial S