Popular Articles

Independent director under Companies Act 2013

Ajay Mishra 17 September 2013 at 18:04

An Independent Director (also sometimes known as a outside director or non-executive director) is a director (member) of a board of directors who does not have a material or pecuniary relationship wi

TCS on Sale of Overseas Tour Package

Harshit Panjwani 17 April 2020 at 10:34

TCS on Sale of Overseas Tour Package was proposed in Budget 2020. As per TCS provision on sale of overseas tour package. every Seller of an Overseas Tour Programme Package is required to Collect Tax from the Buyer of such Overseas Tour Programme Package.

Point of Taxation Rules

Annu Agarwal 31 October 2014 at 10:31

Point Of Taxation Rules,2011We all know that there are several rules in Service tax like the Service Tax Rules,The Cenvat Credit Rules,Valuation Rules,Place of Provision rules.Likewise we have Point of Taxation Rules which define the point in time wh

Purchase Process in SAP environment-with an Accounting view.

Ramanreet Singh 13 July 2010 at 11:11

What Happens in SAP?Contents:-1. Pre-Procurement Process2. Graphical Presentation of Procurement Process3. Procurement Process in detail4. GR/IR Clearing Accounts5. Explanation of accounting entries with the help of a case study.a) Booking of Purcha

Audit and Auditors under the Companies Act, 2013 & Draft Rules

P ESWARAMOORTHY 18 November 2013 at 12:33

There is a huge tremendous Change in new Provisions under the Companies Act, 2013 with respect to Auditors as compared to the old Companies Act, 1956. The new Act intents to improve Corporate Governance and to further strengthen regulations. The Onu

Special Reserve created under section 36(1)(viii)

Member (Account Deleted) 18 August 2014 at 11:20

Special Reserve created under section 36(1)(viii) of the Income Tax Act, 1961 and Deferred Tax Liability on it.As per section 36(1)(viii) of Income Tax Act 1961 in respect of any special reserve created and maintained by a specified entity, an amount

Major changes in Financial statements disclosures and audit reporting for FY 2021-22 and onwards

SANJAN DE 01 April 2022 at 09:23

MCA had introduced changes in Schedule III to the Companies Act, 2013 vide its notification G.S.R. 207(E) dated 24th March, 2021 and also introduced changes in audit reporting vide the Companies (Audit and Auditors) Amendment Rules, 2021 G.S.R. 206(E) dated 24th March, 2021 and the Companies (Auditor’s Report) Order, 2020.