Form 112 ICAI Penalty Rules Condonation Procedure Many CA students have questions if can you do any other Course like CS, CMA, B.com along with Articleship. Prior permission of the ICAI to pursue any course of study either through correspondence, Private or Regular (be it a graduation or post graduation) should be obtained by submitting Form 112 duly filled in and signed by the student his employer and the Principal of the College at the time of joining the articles or during the period of articles if intending to join or joined subsequently. Condonation for Non Submission of Form 112: Students might already be aware that, you are prohibited to undergo any other course while undergoing Articleship training, unless you have submitted Form 112 to ICAI within 180 days. Many students are studying CS, CMA, B.com etc along with Articleship, without submitting Form 112 (Students who have already completed Articleship can ignore this Condonation rule). Exa...
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Black Money What is 'Black Money' Black money is money which is earned through any illegal activity controlled by country regulations. Black money proceeds are usually received in cash from underground economic activity and, as such, is not taxed. Recipients of black money must hide it, spend it only in the underground economy, or attempt to give it the appearance of legitimacy through money laundering. BREAKING DOWN 'Black Money' Possible sources of black money include drug trafficking, weapons trading, terrorism, prostitution, selling counterfeit or stolen goods and selling pirated versions of copyrighted items such as software and musical recordings. Black Money is also the name of a television series hosted by Lowell Bergman that explores the secret world of bribery in international business. Black Black is a description of a positive balance on a company's financial statements. A company would be said to be "in the black" if it...
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