RBI in its bi-monthly Monetary Policy Review meeting decided to change the policy stance from calibrated tightening to neutral and to reduce the repo rate from 6.5% to 6.25%. This was mainly due to 1. Slowdown in global economy, 2. Low inflation (just 2.2% in December with … Continue reading
Dear All, Creating a Common Pool of Materials/ Presentations/ Checklists / Circulars useful for Statutory Bank Audit : Now next few weeks are crucial for practicing Chartered Accountants who have been allotted the statutory audit of Bank. The time is short … Continue reading
Understanding Brexit: Brexit means BRitain’s EXIT from the European Union (EU). EU is an economic and political partnership involving 28 European countries. It has grown to become a “single market” making goods and people to move within EU very easy. … Continue reading
NRE Bank FDs have always been considered the best investment product for NRIs to earn SECURED, TAX-FREE return in India. NRIs have poured in BILLIONS of dollars in NRE bank deposits to generate Secured tax-free return in India. However, with … Continue reading
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Speedbreakers on the highway of Ind AS Implementation Financial reporting in India is passing through very remarkable moments owing to adoption of Indian accounting standards (Ind AS). For companies covered under Phase – 1 of mandatory Ind AS Financials, 1st … Continue reading
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New Revenue Recognition Standard Ind AS 115 deferred? The corresponding standard of Ind AS 115 is IFRS 15 Revenue from Contracts with Customers. Let us first understand why there was need to issue new standard IFRS 15 by IASB in … Continue reading
On February 16, 2015, the ministry of corporate affairs notified the Indian version of International Financial Reporting Standards (IFRS), to be referred as Ind AS. 39 IND AS are issued aimed at convergence of the Indian accounting framework with globally … Continue reading
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Setting up Business in Vibrant Gujarat & Incredible India 7th Vibrant Gujarat Summit, has well begun today on 11th January 2015 at Mahatma Mandir, Gandhinagar, Gujarat, India. At this time, it is imperative to know the key facts of Gujarat … Continue reading
Finance Budget (No.2) proposed many important changes related to NRI investments and taxation. One of the very important changes that has gone unnoticed by tax experts is that India is preparing to comply with FATCA (Foreign Account Tax Compliance Act … Continue reading