business entities

Normally every sovereign state provides a legal framework to decide about the accounting year. Every entity carrying on a business is required to prepare the final accounts as understood by us for pre-defined accounting year. [More...] Besides annual report to various stakeholders, collection of tax revenue is also based on this pre-determined accounting year. In India, such an accounting year is financial year starting from 1st April and ending on 31st March. Earlier in.. Full Article

A treasury can be : the part of a government which manages all money and revenue.the funds of a government or institution or individual.the government department responsible for collecting and managing and spending public revenues . depository (a room or building) where wealth and precious objects can be kept.he center of financial operations within a company. Full Article

A landmark decision recently delivered by the Delhi High Court in the case of CIT v. INDIAN VISIT. COM (P.) LTD.  is sure to cheer the hearts of several business entities that spend large amounts in developing their websites. SUMMARY OF THE CASE LAW Income Tax – Assessee deals in hotel, air and taxi booking [...] Full Article

Corporates houses, banks and financial institutions have got just 18 months to begin the changeover to a new set of transparency, inducing accounting standards that will have a major impact on their financial statements. The new norms to classify, value and disclose the complex financial instruments they trade in is expected to change the way exposure to many instruments are reported now, besides capturing many unreported exposures. Accounting standard setter the Institu.. Full Article