An individual shall be eligible for appointment as company auditor only when such individual is a qualified chartered accountant in practice. If a company has decided to appoint an audit firm as company’s auditor then majority of partners must be practicing chartered accountants in India. Earlier provision of companies act 1956 required all the partners to be chartered … [Read more...] about Qualification or disqualification of company auditor – section 141 of companies act 2013
Finance
Appointment of Company auditor – Section 139 of New Companies act 2013
Company auditor appointment procedure and tenure has been changed in companies act 2013 compare to the old provisions of companies act 1956. In this article, we will be discussing how to appoint company auditor in an annual general meeting and tenure of such appointment. If you want to know how first auditor is appointed under companies act 2013 and its time period then … [Read more...] about Appointment of Company auditor – Section 139 of New Companies act 2013
Rotation of company auditors – New provision in companies act 2013
New companies act 2013, has mandated rotation of individual auditor, audit firm and audit partner for all listed companies and certain private and unlisted public companies. In this article we will be discussing applicability of rotation of company auditor and other provisions related to it. As per the new companies act 2013, following companies are compulsorily … [Read more...] about Rotation of company auditors – New provision in companies act 2013
Benefits and drawbacks of investing in Kisan Vikas Patra or KVP
Kisan vikas patra or KVP is reintroduced by our honorable finance minister in budget 2014. Kisan Vikas Patra was discontinued since November 2011 by earlier UPA government. With its reintroduction, many small investors will be benefited by getting higher interest rate. For the benefit of our readers we will be discussing benefits and drawbacks of investing in kisan vikas … [Read more...] about Benefits and drawbacks of investing in Kisan Vikas Patra or KVP
How to open a bank locker in India – Certain things to keep in mind
Bank lockers in India offer option to safeguard things like jewellery, cash, diamond and other valuables. Bank can not deny a customer for locker facility. Even, you are not required to be an existing customer of the bank to get locker facility. To get a locker, the person has to fill up an application form and complete the KYC formalities at bank. The person is also … [Read more...] about How to open a bank locker in India – Certain things to keep in mind
Proposed major changes to tax laws in budget 2014
Today on 10th July 2014, union budget has been introduced in parliament by our finance minister Mr. Arun jaitely. Below in this article we have highlighted major changes that are proposed in this budget in income tax, services and other indirect tax laws. Highlights of major changes in Income tax Basic exemption limit below which individuals are not liable to pay tax … [Read more...] about Proposed major changes to tax laws in budget 2014
What is GST or Goods and Service tax in India ? How GST will reduce your tax burden?
Goods and services tax or popularly known as GST, is a part of the proposed tax reform which central government is trying to implement in India. At present, we have multiple indirect taxes levied by both central and state government. Goods and Service Tax will help us in reducing the average tax burden on companies and consumers by replacing all these indirect taxes that are … [Read more...] about What is GST or Goods and Service tax in India ? How GST will reduce your tax burden?
Best selling personal finance books to read
Personal finance is the most important thing that every one of us should learn for financial independence. There are great authors who have written wonderful personal finance books to guide us about money and how to make more money. In our previous article we have listed 5 best investment books for beginners to start investing in stock market. In this article we have … [Read more...] about Best selling personal finance books to read
5 best investing books for young investors
Investing in the stock market is considered as one of the most effective ways to grow your personal wealth in order to reach your long-term financial goals. If you are not sure where to start when it comes to stock market investing, then you can read the best stock market books available in the market to start with. There are many investing books available in market to help … [Read more...] about 5 best investing books for young investors
What is black money – Certain Amendments in Tax Laws to report Black Money
Today, in this article we will explain you what is black money, how our tax law has been amended to report black money. We do not have a uniform definition for black money. However, black money can be defined as a fund which has been incurred from black market and on which taxes are not paid to government i.e. it has never been reported to the public or tax … [Read more...] about What is black money – Certain Amendments in Tax Laws to report Black Money