CAclubindia Articles
Effects of Global Crisis on INDIAN ECONOMY
Introduction Emerging economies like India, China are not directly affected by factors which were responsible for crisis in developed economies. No doubt the cascading effect of said crisis have made situation worst. East Asians like Japan have be
TAX BASE of an ASSET- I GAAP Vs. IFRS
TAX BASE of an ASSET- Indian GAAP Vs. IFRS (Assuming the economic benefits that will flow to an entity when it recovers the carrying amount of the asset is taxable) Tax base of an asset as per IAS12 is “The amount that will be deductible
GST - A boon or Bane
GST – A BOON OR BANE Everybody in the country is talking about the GST and everywhere it is said that GST will increase our GDP, boost our economy, etc., but at what & whose cost? There are a number of serious disadvantages of this syste
Constitutional validity of Service Tax remains questionable
The Constitutional Validity of Service Tax has been challenged time and again. Recently, The Maharashtra Chamber of Housing Industry (MCHI) through their Writ Petition challenged the constitutional validity of the Finance Act 2010 seeking to amend
Service tax on rentals-government & judiciary define them
Service Tax on renting of immovable properties was introduced from June 01, 2007 by insertion of section 65(105) (zzzz) in the Finance Act, 1994. The scope of this levy was examined by the Delhi high court in its judgment dated 18.04.2009 delivered
New Regulatory regime for Core Investment Companies
New regulatory framework for Core Investment Companies by Vinod Kothari and Team, Vinod Kothari & Company The issue as to whether non-depository companies, which are merely passive holding companies, meant for maintaining control over grou
Exposure Draft of New Lease Accounting Standard
Exposure draft on Lease Accounting The end of finance-operating lease distinction All leases to come on the balance sheet Vinod Kothari It has been for several years (14 years approx) that the G4 +1 approach to lease accounting, linked to Aust
Bank Branch Audit - at a Glance
The rapid advancement in information technology has revolutionised the Indian banking sector—perhaps one of the largest in the world as far as its extensive branch network is concerned. Not a day passes without a new ATM being opened or a new
Conversion from PE-II to IPCC---Detailed Procedure
DETAILED PROCEDURE TO BE FOLLOWED ALONG WITH SWITCHOVER FEE STRUCTURE FOR CONVERTING FROM PE-II TO IPCC
Ascertaining the Capital Requirements
ASCERTAINING THE CAPITAL REQUIREMENTS Fixed and Working capital assessments are a professional exercise which demands strong knowledge of business operation as well as finance. Working capital is the active portion of the capital for a business. It
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