CA Final all Accounting Standards Summary for Nov 2015.

ALL ACCOUNTING STANDARDSAccounting Standards are the defined accounting policies issued by Government or expert institute. These standards are issued to bring harmonization in follow up of accounting policies.Presently, Institute of Chartered Accountants of India has issued 29 Accounting Standards as listed below. AS 01. Disclosure of Accounting PoliciesAS 02. Valuation of InventoriesAS 03. Cash Flow … Read more

CA Final Law Short Notes for November 2015

Selected Notified Defonitions Under The Companies Act, 2013 1 Abridged  Prospectus > Memorandum > Salient features of prospectus > SEBI 2 Associate Company > Significant Influence(20%) > Includes Joint Venture Company > 20% of total share capital Total sh cap means i) Paid up sh capital and ii) Convertible Preference sh capital > Shares held … Read more

Amendment for May 2015 – Practical Aaspects – Capital Gains

The Central Government acquires a house property owned by Mr. Manish on October 17, 2005 fixingcompensation at Rs. 32,00,000. The indexed cost of acquisition of this house property is Rs. 28,00,000. The Government paid Rs. 20,00,000 partly on May 13, 2010 and balance on March 11, 2012. Being aggrieved against the award, Mr. Manish filed … Read more

Direct Tax Laws Amendments For May 2015

Direct Tax Laws Amendments For May 2015 Summarized Rates of Income-tax (Annexure 1. PgHouse Property24 In case of SOP (where conditions of section 24) are satisfied, Limit for interest u/s. 24 shall be taken as` 2,00,000 instead of the earlier limit ofBusiness/ Profession Head43(5) As per present provision, a speculative transaction excludes:(a) Hedging transactions(b) Trading … Read more