"23 May 2021" Archive - Page 2

PPE (Listed Companies Call) – Incorporating Internal Financial Controls over Financial Reporting Empirically-Series 3

As I already stated in my introductory part of this topic, any process will be parted into static and strategic meaning thereby one which is in as it is form and the other requires professional skepticism. Above that, static facts w.r.t. terminologies are also tuned here. Let us sail beyond statutory sections sight u/s 134, […]...

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Posted Under: Corporate Law |

SEBI’s outlook & performance in handling scams – What more is required?

SEBI since its inception till now has completed an eventful journey as a capital markets regulator and has tried to create a market infrastructure which is far better than many of the countries. No doubt that the markets earlier were restricted to few hands, entities and intermediaries, but now there has been a quantum jump […]...

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Posted Under: Corporate Law |

Suggestions for Committee for Review of Education and Training (CRET) set up by ICAI

ICAI has set up Committee for Review of Education and Training (CRET) and members of committee have invited suggestions. Following are my suggestions Article ship period should be bifurcated into 2 parts. 2 years of Articleship, then 1 year time for preparation for CA Final and 9 months of mandatory Industrial training Post Qualifying Ins...

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Posted Under: Corporate Law |

General FAQ’s on Startup India

Q.1 What is Startup India? Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower startups t...

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Posted Under: Corporate Law |

Procedure for Import of Covid-19 Vaccines

In view of the COVID-19 pandemic and in order to address the emergency situation by increasing the provision of secure and reliable vaccinations, the National Expert Group on Vaccine Administration for Covid-19 found some guidelines on the supply of Covid-19 Vaccine. The CDSCO will process those proposals for Restricted Use in Emergency S...

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Posted Under: Corporate Law |

Memorandum of Understanding

WHAT IS A MEMORANDUM OF UNDERSTANDING (MOU)? A Memorandum of understanding (MOU) is a formal and a written agreement between parties under which their aligned intentions are expressed. Additionally, this sort of paper outlines the purpose of a common course of action. A Memorandum of understanding (MOU) can be bilateral (between two parti...

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Posted Under: Corporate Law |

Directors of a Nidhi Company

As per the provisions of Section 406(1) of the Companies Act, 2013, ‘Nidhi Company’ means a ‘company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit’. Theref...

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Posted Under: Corporate Law |

Section 11: Income from property held for charitable or religious purposes

Income shall not include : a) which applied for Specified* purpose and 15% of Income accumulated from such property. b) where part of income from charitable or religious trust ,registered prior to this Act, such part of income applied for purpose and 15% of part of income accumulated. c) where income applied outside India for […]...

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Posted Under: Corporate Law |

Section wise Income Tax Deductions for AY 2022-23/ FY 2021-22

In this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. 2022-23 / F.Y. 2021-22 and subsequent Years. Deductions include deduction Against Salaries, Against ‘income from house properties‘, Against ‘profits and gains of business or profession‘ Against R...

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Posted Under: Corporate Law |

Careers in management accountancy: it’s more than just number crunching

With its increased focus on financial planning & analysis, cost control and decision support, Profession of Cost and Management Accountant (CMA) is growing with aspiration to move from “counter of wealth” to “creator of wealth and influencer of strategy.” CMA is the leading global management accounting qualification that deliv...

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Posted Under: Corporate Law |

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