"May, 2015" Archive - Page 2

ICAI advisory against fake website similar to its official website

This is to inform to all Members and Students of ICAI and public at large that a website namely, icaindia.net.in, registered in the name of ‘ICA INDIA’, Sonarpur, Kolkata, West Bengal – 700150 has been created, which is deceptively similar to the official website of the Institute (i.e., www.icai.org). ...

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Posted Under: CA, CS, CMA |

SEBI (POIT) Regulations 2015 – includes pledge under `trading’ by `insider’

Business needs capital which promoters arrange. Since promoters conceive the idea of the business, bring in fund, human capital they are allowed to control the enterprise they build. While ownership control remains with the promoter, the Board of Directors of a company may comprise of different persons nominated by the promoter or promote...

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Posted Under: CA, CS, CMA |

Service Tax on Works Contract for Construction of Canal & Dam

This article is drafted with focus to clear our understanding in terms of works contract carried out by the various contractors for government agencies, government and its various departments. With effect from 01/06/2007 works contract was introduced under Section 65 (105) (zzzza) of Finance Act, 1994. Definition of works contract as defi...

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Posted Under: CA, CS, CMA |

Board Performance Evaluation – A Framework for Good Governance

A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. They shall be responsible for the day to day affairs of the Company The challenge for boards is to prevent crises in the organisations they govern....

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Posted Under: CA, CS, CMA |

Registration of Charges under Companies Act, 2013

Charge is the security given for securing the loan or debentures. Security can be provided wither by way of Mortgage/Pledge/Hypothecation. There are two types of Charges a) Fixed Charge:- Fixed charge mean charge which is created in respect of assets which is identified & ascertainable at time of in creation of charge. It is created [...

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Posted Under: CA, CS, CMA |

Eligibility for training of Articled Assistants under CA Regulations

 As per The Chartered Accountant Regulations 1988, Regulation 43, Member(s) designated as an Associate or Fellow, who has been in Practice continuously, whether in India or elsewhere or an Associate or Fellow, who is deemed to be in Practice within the meaning of explanation to sub-section (2) of Section 2 of the Act, shall only [&hellip...

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Posted Under: CA, CS, CMA |

President's Message – June 2015

Dear Friends, Change is inevitable and is the only thing that is constant. But it is the sheer pace of change that makes it a big challenge in the present hi-tech era of liberalisation, privatisation and globalisation, which has put sharper focus on the role of accounting profession. We professionals need to take this challenge […]...

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Posted Under: CA, CS, CMA |

Companies Amendment Act 2015- Changes in Companies Act, 2013

Companies Amendment Bill, 2015 was passed in Lok Sabha on 17/12/2014 and it was passed in the Rajya Sabha in 13/5/2015. The Companies Amendment Bill got the Presidents assent on 25/5/2015 and was published in the Official Gazette of India on 26/05/2015 as the Companies Amendment Act 2015. In this article we have highlighted the […]...

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Posted Under: CA, CS, CMA |

Tax on Presumptive Basis In Case of Certain Eligible Businesses

To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting the accounts audited, the Income-tax Act has framed the presumptive taxation scheme under sections 44AD and section 44AE. In this part you can gain knowledge about various provisions of the presumptive taxation scheme of section 44AD...

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Posted Under: CA, CS, CMA |

ITAT pulls Up CA for Seeking to Intimidate It by using derogatory, defamatory and contemptuous Language

M/s. Mundra Woolen Mills (P) Ltd.Vs The ACIT (ITAT Jaipur)

he barrage of indiscriminate allegations include misuse of official position, corruption, insulting him and son: colluding with retired income tax officers to harm his client so on and so forth. The severity of accusations and fury emerging from their language is highly derogatory, defamatory and contemptuous, sent with a scheme and clear...

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