Category Archives: Company

Companies (Indian Accounting Standards) (Amendment) Rules 2016

By | May 13, 2016

Companies Act, 2013 NOTIFICATION NO. GSR 365(E) [F.NO.01/01/2009-CL-V (PART)], DATED 30-3-2016 In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013) and sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government, in consultation with the National Advisory… Read More »

Indian Accounting Standards implementation Road Map

By | April 29, 2016

Indian Accounting Standards The Road Map for implementation of Indian Accounting Standards (Ind AS) for commercial Banks (Banks), Insurance Companies (Insurers) and Non-Banking Financial Companies (NBFCs) was announced on 18/01/2016 and implementation schedule is drawn as follows: (i) Banks (excluding Urban Cooperative Banks and Regional Rural Banks), All-India Term-lending Refinancing Institutions (i.e. Exim Bank, NABARD,… Read More »

MCA issued FAQ on Corporate Social Responsibility

By | January 17, 2016

General Circular No. 01/2016 No. 05/19/2015 Government of India Ministry of Corporate Affairs 12 January 2016 To All Regional Directors All Registrar of Companies All Stakeholders Subject : Frequently Asked questions (FAQ’s) with regard to Corporate Social Responsibility under Section 135 of Companies act 2013 Sir Section 135 of the Companies Act, 2013, Schedule VII of… Read More »

Companies can avoid penalties if issued securities to more than 49 up to 200 investors

By | January 4, 2016

Securities and Exchange Board of India CIR/CFD/DIL3/18/2015 December 31, 2015 To All Recognised Stock Exchanges Dear Sir/Madam, Sub: Procedure to deal with cases prior to April 01, 2014 involving offer / allotment of securities to more than 49 up to 200 investors in a financial year 1. Prior to April 01, 2014, offers of securities… Read More »

Branding and advertisement Expenses should be expensed off

By | October 14, 2015

A company (say Company X) is a key player in media industry. The requirements of media industry is such that the company continuously needs to incur heavy amount on promotions, advertising, internal and external communications and promotions, incurring expenditure on campaigns such as save water, save energy, Green earth, etc. The company incurs substantial expenditure… Read More »

Queries in filing of CRA 4 on MCA 21 portal

By | October 6, 2015

Attention of Stakeholders: The Institute of Cost Accountants of India is getting several queries relating to filing of CRA 4 on MCA 21 portal. These queries generated by MCA System may be: Attached Instance Document is not prescrutinised for the CIN as entered in the form or Fill all the fields in the form appropriately,… Read More »

Book value of fixed assets demolished, even if for expansion, should be charged to the statement of profit and loss

By | October 6, 2015

Fixed assets demolished  A company (say Company X) is engaged in development, operation and maintenance of a hospital. The company wants to increase the number of beds in the hospital which requires demolition of certain part of the hospital. The demolition shall be that of building structure, furniture and fittings and other assets. The demolition… Read More »

ICAI proposes to divide Ind AS 115 into two separate standards

By | September 26, 2015

ICAI proposes to divide Ind AS 115 into two separate standards     The Institute of Chartered Accountants of India (ICAI) proposes to divide Ind AS 115, “Revenue from Contracts with Customers” into two separate accounting standards, first is Ind AS 11, “Construction Contracts” and second is Ind AS 18, “Revenue”. National Advisory Committee on… Read More »