Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: list of goods taxed at 4% :: due date for vat payment :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: TDS :: form 3cd :: VAT Audit :: empanelment :: cpt
 
 
« News Headlines »
 A tax saver scheme with higher returns
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know

Satyams accounting system was manipulated
April, 28th 2009

The CBI has finalised investigations into falsification of accounts and forgery of documents in the Satyam fraud case and found that the accounting system was manipulated to inflate the companys sales by Rs 5,117 crores.

Using cyber forensic techniques, the investigating agency said it had uncovered the modus operandi used by the accused to show inflated sales by Satyam Computers Service.

According to the CBI, officials at Satyam created a protocol to manipulate software computing man hours spent on client projects in order to show inflated sales by Satyam to the tune of Rs 4,746 crores. Through this protocol, the CBI said, the accused bypassed the regular system and created false invoices that were shown only to the companys finance department and not clients. However, the CBI investigations till now only pertains to misdeeds owned up by accused Ramalinga Raju and throws no light on the alleged diversion of funds.

Investigation further revealed that these invoices were generated for the purpose of inflating the sales and the amounts pertaining to these false and fabricated invoices were shown as receivables in the books of accounts of M/s SCSL thereby dishonestly inflating the revenues of the company, a CBI spokesperson said in a release here. The CBI found 7,561 fake invoices worth Rs 5,117 crores in the course of the investigations . Out of these 7,561 invoices, the CBI said, the accused entered 6,603 of these false invoices amounting to Rs 4,746 crores into the books of accounts.

The investigating agency further said that it had identified the individuals who had generated and hidden these false and fabricated invoices and also identified the computer server where incriminating electronic records were stored. CBI said that the incriminating data had been retrieved and that the agency had also got opinions from computer forensic experts.

As a result of this detection, the actual modus operandi as well as the individuals who have perpetrated the fraud have been identified which resulted in unearthing the whole fraud and helped in finalisation of the investigation, CBI said. Meanwhile, a trial court on Saturday also dismissed the bails application of accused B Ramalinga Raju, B Ramaraju and V Srinivas. Apart from these three accused, five others are in custody.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions