Latest Blogs from SBS and Company LLP

    Presently, the Institute of Chartered Accountants of India (ICAI) has issued 39 Indian Accounting Standards (Ind AS) which have been notified under the Companies (Indian Accounting Standards) Rules, 2015 (“Ind AS Rules”), of the Companies Act, 2013. The Rule specifies the Indian Accounting Standards (Ind AS) applicable to certainclass of companies and set out the dates of applicability.


    India has chosen a path of International Financial Reporting Standards (IFRS) convergence rather than adoption. Hence, Ind AS is primarily based on the IFRS issued by the International Accounting Standards Board (IASB).


    Applicability of Ind AS As per the notification released by the Ministry of Corporate Affairs (MCA) on 16


    RBI has issued ECB regulations viz., Foreign Exchange Management (Borrowing or Lending in Foreign Exchange)Regulations, 2000, Notification No. FEMA 3/ 2000-RB,dated May 3, 2000 read with Sec.6(3) of FEMA Act,1999


    Indian companies are allowed to access funds from abroad in the following Methods:



    Preference Shares/Debentures



    Indian Tax environment has been rapidly changing to absorb the global changes and the need to curb the tax avoidance and restrict the black money, which have been the primary objectives of the government. The recent developments provide us with a glimpse of India’s treaty policy to prevent double non-taxation, curb revenue loss and check the menace of black money through automatic exchange of information. The following is a summary of the recent India- DTAA developments:


    India – Singapore:


    ØResident based to Source based: The India-Singapore DTAA at present provides for residence based taxation of capital gains of shares in a company. The Third Protocol amends the DTAA with effect from 1st April, 2017 to provide for source based taxation of capital gains arising on transfer of shares in a company. This will curb revenue loss, prevent double non-taxation and streamline the flow of investments.

    DEC – 2016 (VOLUME-29)

    Key Topics Covered:

    • AUDIT


    • COMPANIES ACT, 2013

    This article is contributed by Partners of SBS and Company LLP - Chartered Accountant Company. You can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.

    Tags: ,



    • Without following principles of natural justice no punishment should be imposed on the employee. 
    • Punishment should not be different to different employees who has committed the same or similar misconduct. 
    • In determining the quantum of punishment the Management should treat all the employee equally and there shall be no discrimination. 
    • The enquiry officer must be an independent person who is totally un-connected to the dispute and not an interested party in the outcome of the dispute. 
    • When an employee commits misconduct for personal gain punishment of dismissal is appropriate. 
    • When the acts of an employee adversely affect the interests of the company, it is nothing but gross misconduct and punishment of dismissal is appropriate.

    The Management of an industrial establishment has a right to exercise control over its employees. Employer employee relationship rests on the overall control that an employer is entitled to exercise over his employees, not only in regard to their work in the establishment but also in regard to their conduct and behaviour in relation to the performance of work. It also includes his attitude towards his co-workers, supervisors, outsiders with whom the employee may come into contact in relation to the performance of work. Without disciplinary control being exercised by the employer, work cannot run smoothly and efficiently.

    Looking for suggestions?

    Subscribe SBS AND COMPANY LLP updates via Email!