CMA Navneet Kumar Jain Any organization has to undergo many audits like Financial Audit, Tax Audit, VAT Audit, Excise Audit, Service Tax Audit & Cost Audit. Cost Audit was made applicable to most of the companies since the year 2011 and in the year 2014 again many of the industries were apparently excluded from applicability […]
A Company shall enter into any contract or arrangement with a related party only with the consent of Board of Directors given by a resolution at a meeting of the Board and subject to conditions as prescribed under Rule 15 of the Companies (Meeting of Board and its Powers) Second Amendment Rules,2014.
FASB ISSUES PROPOSAL TO SIMPLIFY ACCOUNTING FOR CLOUD COMPUTING FEES PAID BY CUSTOMERS Norwalk, CT, August 20, 2014—As part of its simplification initiative, the Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update intended to simplify the accounting for a customer’s fees paid in a cloud computing arrangement. The Update, Intangibles—Goodwill and […]
No stone is left unhurt when the law makers are Indians. In the sense that no kind of income goes untaxed under the Indian Income Tax law. The Income Tax Act, 1961 is a freakish machine with 5 eyes, no income goes unnoticed from these eyes.
INTRODUCTION Many of us think that the job of an auditor is very fascinating and easy, but it is not so, the job of an auditor is very hectic and involves lot of hard work and commitment. It involves checking whether the financial statements of the entity are free from material mis-statement, are in accordance […]
The Rate of Interest which a senior Citizen earns on Nationalize Bank FD is around 9.75% . However there is limiting period of 10 years up to which you can make your Fix Deposit. Interest Rate scenario change depending upon Inflation and RBI policies.
The Ministry of Finance is in the process of strengthening the regulatory framework of the commodity derivative markets for some time. As part of this process, greater empowerment of Forward Markets Commission (FMC), the market regulator is also being done.
Indirect Tax Revenue (Provisional) Collections Increase from Rs 1,48,588 Crore in April-July 2013 to Rs.1,54,350 Crore During April-July 2014; Registering an Increase of 3.9% During April-July 2014 over the Corresponding Period in the Previous Year; Service Tax Collections Increase by 16.4% during the Same Period
Imports made by Central/State Governments, Municipalities, public sector undertakings and autonomous bodies will not be considered for ad-hoc exemption. All such agencies are expected to make budgetary provisions for payment of customs duty along with the cost of the imported goods.
Amendment in the companies (Meetings and Board of powers) rules vide Notification dated 14.08.2014 by Companies (Meetings of Board and its Powers) Second Amendment Rules, 2014.
