CAclubindia Articles

Eliminating The Audit Expectations Gap: Reality or Myth?

CA. Rayan Sequeira 06 October 2007 at 14:15

A gap between the auditor's actual standard of performance and the public expectations of auditor's performance."Blessed is the man who expects nothing, for he shall never be disappointed" is one of the famous quotes by Alexander Pope what we had bee

Accounting as a "Language of Business"

CA. Rayan Sequeira 06 October 2007 at 14:15

Accounting as a "Language of Business" communicates the financial results of an enterprise to various users. It is pertinent that in order to evaluate the financial results of the enterprise one has to compare the financial status of an entity with

Brilliance of mind

CA. Rayan Sequeira 06 October 2007 at 14:15

It's hard to match the personality of one with the other. Even though its difficult to match, its interesting to know how a personality of a person is judged. Is it his external appearance? Or is it the internal levels of a person? Or is it both put

Special Economic Zone -

CA. Rayan Sequeira 06 October 2007 at 14:15

First Singur and then the Nandigram violence have hit the headlines of every national daily. Dailies reported that West Bengal police have shot dead farmers in Nandigram - the issue underlying the killings is the agitation by the farmers to stop the

PRIVATE EQUITY FUNDS

CA. Rayan Sequeira 05 October 2007 at 23:55

PRIVATE EQUITY FUNDS- AN ALTERNATIVE FUND TO FUND BUSINESS. The concept of "business finance" has been refined to the form it stands today from the bygone "Baniyas' System", where investment needs of business were funded through pledge of personal pr

COMPROMISE UNDER VAT LAW

CA. Rayan Sequeira 05 October 2007 at 23:55

The word "composition" denotes mixture of more than one character. In general sense "composition" is an agreement between the parties where one party agrees to pay less than what has agreed in full satisfaction of the whole of the claim. Therefore

Its Tax Audit Time

CA. Rayan Sequeira 05 October 2007 at 23:55

--Concept, emergence and prolongation of tax audit.The year 2007 marks the completion of 22 years of Tax Audit"It's not enough that we do our best; sometimes we have to do what's required", a quot

SOX Act of 2002: Overview

Ankit Dangayach 05 October 2007 at 23:55

The Sarbanes-Oxley Act of 2002 (SOA or SOX) "The Act does not differentiate between U.S. and Non U.S. companies in its application."What is Sarbanes Oxley Act of 2002?Legislation passed by the US Congress providing new corporate governance rules, re

FILLING LOWER TDS? GET READY FOR A CALL FROM I-T

CA Nikita 04 October 2007 at 21:03

Individuals trying to evade taxes by getting a lower tax deducted at source may soon get a call from the tax collector. The finance ministry is planning to crack the whip on those trying to conceal their income and evade taxes through the system of t

MNCS GET TAX BREATHER ON ASSET SALE

Ravikumar.G 04 October 2007 at 16:20

Foreign companies selling assets in India could end up enjoying a concessional rate of capital gains tax of 10% even if these companies enjoy the foreign currency fluctuation benefit.This follows the ruling by the Authority for Advance Rulings (AAR)