Explore the realm of cybercrimes, from DDoS attacks to identity theft. Learn about data security challenges, including confidentiality, integrity, and availability. Stay informed on the latest issues in cyber law.
Unlock the secrets of Single Entry System in Accounting, a lifeline for small shopkeepers. Dive into types, features, and fundamental equations. Learn how incomplete records become complete, aiding accountants in filing ITR and navigating search and survey proceedings. Explore Net Worth Method, Profit Adjustments, and understand the nuances between Statement of Affairs and Balance Sheet. Unravel the methods of accounting in Single Entry System and discover the power of Conversion and Abridged Conversion.
Accounting Conventions :– Accounting conventions are certain guidelines for complicated and unclear business transactions, though it is not compulsory or legally binding, however, these generally accepted principles maintain consistency in financial statements. While standardizing financial reporting process these conventions consider comparison, relevance, full disclosure of transactions, and application in financial statements. These are developed from […]
A. Niti Ayog :- In January 2015 this institution was fomed with a vision of National Development. In pursuing it’s objective e – governance and technology penetration got attention of this body. As a result of it this institution got related with cyber crimes in India. The NITI Aayog serves as the apex public policy […]
Prior to CMA between 1965 and 1988 another mechanism called Credit Authorization Scheme (CAS) was the key instrument for credit control in India. CAS was being used by the RBI to regulate Bank Credits exceeding prescribed limits.
While transacting banks knowingly and unknowingly enter into various contracts some are written and formal some other are informal and unwritten. Some common contractual relationships assumed by the banks are Debtors – Creditor, Creditor – Debtor, Bailor – Bailee, Guarantor – beneficiary, Pledgor – Pledgee and Principal and Agent. These relationships need to be understood […]
Auditing is the process of examining an organization’s (or individual’s) financial records to determine if they are accurate and in accordance with any applicable rules (including accepted accounting standards), regulations, and laws. If objective of auditor is to establish fairness of the financial result it is called External Auditing, when exercise has been done with […]
Understanding the consequences of failure to comply with tax directions under Section 271. Find out more about the burden of proof and implications of concealing income.
Income Tax Rule 115 deals with situation where a person has earned income in foreign currency. This income can accrue and can be received in India or out side India, but if that income is taxable in the hands of recipient then this provision has to be applied. Now a days when we are in […]
Mostly we use term profession in association with business and try to find it’s colour from the company it keeps. Most of the times it is not necessary to differentiate business from profession, since most provisions dealing with business and profession are same, but for some purposes distinction has to be established. Section 2(36) says […]
