CAclubindia Articles

Eliminating The Audit Expectations Gap: Reality or Myth?

Posted by CA. Rayan Sequeira 06 October 2007 8628 Views

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"

Posted by CA. Rayan Sequeira 06 October 2007 38265 Views

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

Posted by CA. Rayan Sequeira 06 October 2007 4224 Views

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 -

Posted by CA. Rayan Sequeira 06 October 2007 3922 Views

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

Posted by CA. Rayan Sequeira 05 October 2007 7580 Views

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

Posted by CA. Rayan Sequeira 05 October 2007 8631 Views

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

Posted by CA. Rayan Sequeira 05 October 2007 20694 Views

--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

Posted by Ankit Dangayach 05 October 2007 15848 Views

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

Posted by CA Nikita 04 October 2007 4154 Views

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

Posted by Ravikumar.G 04 October 2007 4967 Views

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)