NEW GOVERNMENT AUTHORITY TO INVESTIGATE FINANCIAL FRAUDS

10 February 2011

NEW GOVERNMENT AUTHORITY TO INVESTIGATE FINANCIAL FRAUDS BY CA A. K. JAIN Introduction Taking clue from the developed nations Indian Government has also established a multi-disciplinary organization under Ministry of Corporate Affairs to investigate serious financial frauds committed in India. This office known as “SFIO” is working with the help of experts in the filed of accountancy, forensic science, auditing, law, information technology, investigation, company law, capital market and taxation...

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HUF & TAX IMPLICATIONS

4 February 2011

HUF & TAX IMPLICATIONS BY CA A. K. JAIN Hindu Undivided Family is defined as consisting of a common ancestor and all his lineal male descendants together with their wives and unmarried daughters. Therefore, a HUF consists of all males & females in the family. Daughters born in the family are its members till their marriage and women married into the family are also members of the HUF. In this context, “Hindu” mean all the persons who are Hindus by religion. Section 2 of the Hindu Succession Act,...

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