History of Big 4 Firms
Posted Date : 26-Dec-2012 , 07:46:37 pm | Posted By
Ashwani Narnoli
Source Wikipedia
Legal structure
None of the Big Four accounting firms is a single firm - rather, they are accounting networks. Each is a network of firms, owned and managed independently, which have entered into agreements with oth...
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Category : Students Zone |
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Amendments to
Posted Date : 25-Dec-2012 , 09:58:09 pm | Posted By
Vinay Sharma
The Bill has 470 clauses and 7 schedules as against 658 Sections and 15 schedules in the existing Companies Act, 1956.
The important amendments (approved ) in proposed Companies Bill 2011 are given below-
-Clauses 143(5) and (6): Provision relating to audit of Government Companies by C...
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Category : Corporate Law |
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Justice Verma Panel invites suggestions to review existing laws on safety of women
Posted Date : 25-Dec-2012 , 04:12:03 pm | Posted By
Vinay Sharma
The recent incident of rape and brutal assault on a young woman in Delhi has shaken the conscience of the nation and has triggered a serious debate amongst jurists, civil society members and women's groups about inadequacy of the present laws to protect the safety and digni...
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Category : General |
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Don't give PAN number for railway Tatkal booking
Posted Date : 24-Dec-2012 , 10:26:07 pm | Posted By
Vinay Sharma
Don't give PAN number for railway Tatkal booking .
Do not quote your PAN for Tatkal bookings. Indian Railways display PAN as identity proof for Tatkal bookings.
The Railways collect PAN for Tatkal bookings and display the PAN + name, sex and age of passengers on reservation charts p...
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Category : General |
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IIFCL Tax Free Bonds
Posted Date : 24-Dec-2012 , 05:34:32 pm | Posted By
Vinay Sharma
After REC and PFC, IIFCL will become the third company to launch its tax-free bonds this financial year from December 26th. But, unlike REC and PFC, this will be IIFCL’s first issue of tax-free bonds as the company did not have any such issue last year. The issue will close on January 11th....
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Category : Income Tax |
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COMPARATIVE STUDY OF Companies Bill, 2011 and Companies Bill, 2012 [As Passed by Lok Sabha]
Posted Date : 23-Dec-2012 , 11:24:25 am | Posted By
Vinay Sharma
♦ Definition of 'financial statement' in clause 2(40) amended to add the words "statement of changes in equity" in clause 2(40). Purpose is to clarify that statement of changes in equity will compulsorily form part of financial statements only for ...
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Category : Corporate Law |
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XBRL in India - filing and applicability conditions
Posted Date : 21-Dec-2012 , 04:11:09 pm | Posted By
Vinay Sharma
Introduction to XBRL
XBRL (eXtensible Business Reporting Language) is a language for electronic communication of business and financial data which is revolutionising business reporting around the world. It offers major benefits to all those who have to create, trans...
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Category : Corporate Law |
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DVAT on set top boxes
Posted Date : 20-Dec-2012 , 12:42:59 pm | Posted By
Roopak
DVAT ON SET TOP BOXES.
Commissioner, VAT, Department of Trade and Taxes, Delhi has issued acircular ...
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Category : VAT |
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Role of Chartered Accountant in VAT
Posted Date : 20-Dec-2012 , 12:26:03 pm | Posted By
Vinay Sharma
Chartered Accountants have a key role to play in proper implementation of VAT.
(i) Record keeping : VAT requires proper record keeping and accounting. Systematic
records of input credit and its proper utilisation is necessary for the success of VAT. Chartered
Accounta...
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Category : VAT |
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Exceptions to section 45(1)
Posted Date : 20-Dec-2012 , 12:25:05 pm | Posted By
Roopak
Exception to section 45(1)
As per the charging section of capital gains i.e. section 45(1) of the Income Tax Act, 1961, the capital gains shall be taxed in the previous year in which transfer is made. Accordingly the definition of Capital gains as provided in the section...
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Category : Income Tax |
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New Company bill's saliant features
Posted Date : 19-Dec-2012 , 02:04:08 pm | Posted By
Deepak Agarwal
The Companies Bill, 2011, is organized as 29 chapters, 470 sections and 7 scheduled. A substantial part of the law will be in form of Rules, to be prescribed separately. It has introduced 33 new definitions. Here’s a look at some of its key highlights.
...
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Category : Corporate Law |
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10 Barriers to Effective Communication
Posted Date : 19-Dec-2012 , 11:03:01 am | Posted By
Vinay Sharma
Sometimes, somewhere between the moment someone speaks and another responds, communication becomes broken.
We’ve all been there. A conversation, or even an online chat or string of mobile texts, leads to a terrible misunderstanding and all of a sudden all hopes for reaching an agreement...
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Category : General |
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understanding of
Posted Date : 18-Dec-2012 , 07:04:41 pm | Posted By
Vinay Sharma
‘Caveat emptor’ means “let the buyer beware”, i.e. in sale of goods the seller is under no duty
to reveal unflattering truths about the goods sold. Therefore, when a person buys some goods,
he must examine them thoroughly. If the goods turn out to be defective or do no...
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Category : Students Zone |
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Service tax on Supply of food at Restaurants
Posted Date : 18-Dec-2012 , 05:49:43 pm | Posted By
Sourabh Jain
Service tax on Supply of food at Restaurants
It is said that some things which seem to be very authentic may not be always correct. This is same which is happening with issue of Service tax on supply of food in restaurants. Internet is equal for both whether you are correct or fact...
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Category : Service Tax |
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How to Find Your Life's Purpose
Posted Date : 15-Dec-2012 , 08:17:49 pm | Posted By
Vinay Sharma
Steps
1
Make a list of the things you do for fun, or that you really enjoy. Include in the list the parts of your job that you really like, the things you volunteer for, sports, the arts, reading, etc. Imagine you're a billionaire with no worries about money, how would ...
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Category : Students Zone |
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Creating S.M.A.R.T. Goals
Posted Date : 15-Dec-2012 , 08:14:15 pm | Posted By
Vinay Sharma
Specific
Measurable
Attainable
Realistic
Timely
Specific: A specific goal has a much greater chance of being accomplished than a general goal. To set a specific goal you must answer the six “W” questions:
*Who: Who is involved...
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Category : General |
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Right of lien of an unpaid seller
Posted Date : 15-Dec-2012 , 08:12:52 pm | Posted By
Vinay Sharma
The legal provisions regarding the right of lien of an unpaid seller has been stated from
Sections 47 to 49 of the Sale of Goods Act, 1930 which may be enumerated as follows :
(i) According to Section 47 the unpaid seller of the goods who is in possession of them is
entitled to retain ...
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Points to be considered while drafting gift deed
Posted Date : 14-Dec-2012 , 01:55:55 pm | Posted By
Vinay Sharma
Agift is a common mode of transfer of property. It is the transfer of certain existing moveable or immoveable property by one person to another. The transfer should be made voluntarily and without consideration. The person transferring the property is called the donor.
The person to who...
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Category : General |
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CHARACTERISTICS OF A NEGOTIABLE INSTRUMENT
Posted Date : 14-Dec-2012 , 12:16:02 pm | Posted By
Vinay Sharma
CHARACTERISTICS OF A NEGOTIABLE INSTRUMENT
A negotiable instrument has the following characteristics:
1. Property: The prossessor of the negotiable instrument is
presumed to be the owner of the property contained therein. A negotiable
instrument does not merely give possession o...
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66A amendment- It is like fixing a leaking roof with a band aid!
Posted Date : 14-Dec-2012 , 12:12:11 pm | Posted By
Vinay Sharma
The government has proposed to amend Section 66 (A) of the Information Technology Act which has been dubbed as one of the most draconian laws in the country.
As per the proposal, the government will set new guidelines for officers dealing with this act so as to ensure that there is some accou...
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Category : General |
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