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Posted Date : 15-Oct-2011 , 10:56:02 pm | Posted By AKHIL MAHESHWARI

A person becomes senior citizen under Income Tax Act in any year after attaining the age of 60 years even for one day. Once he attains 60 years, his status as senior citizen in that financial year, gives him some relief .There are not many. These are listed below: 1. Higher Exemption Limit ...

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Category : Income Tax | Comments : 0 | Hits : 300

A Lesson for Every Salaried Person
Posted Date : 15-Oct-2011 , 03:48:50 pm | Posted By Akanksha Handa

A Lesson for Every Salaried Person A shopkeeper watching over his shop is really surprised when he sees a dog coming inside the shop, He shoos him away. But later, the dog is back inside again. So he goes over to the dog and notices that it has a note in its mouth. He takes the note and it...

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Category : Income Tax | Comments : 2 | Hits : 868

Hindu woman entitled to equal property rights and Liabilities in the property of HUF
Posted Date : 14-Oct-2011 , 05:27:21 pm | Posted By AKHIL MAHESHWARI

  Ganduri Koteshwaramma & Anr. Versus Chakiri Yanadi & Anr. (Supreme Court)-A Hindu woman or girl will have equal property rights along with other male relatives for any partition made in intestate succession after September 2005.  under the Hindu Succession (...

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Category : General | Comments : 0 | Hits : 466

Points useful while doing auditing
Posted Date : 12-Oct-2011 , 07:04:10 pm | Posted By AKHIL MAHESHWARI


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Category : Auditing | Comments : 3 | Hits : 1255

"No Limit for Mental Refinement To Succeed In Office"
Posted Date : 12-Oct-2011 , 12:12:27 pm | Posted By AKHIL MAHESHWARI

1 George Bernard Shaw said, "If you have an apple and I have an apple and we exchange these apples then you and I will still each have one apple. But if you have an idea and I have an idea and we exchange these ideas, then each of us will have two ideas. You don't have to blindly follow ...

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Category : Students Zone | Comments : 0 | Hits : 340

A Glass of Milk
Posted Date : 10-Oct-2011 , 12:02:10 pm | Posted By Neha Jain

  A Glass of Milk   One day, a poor boy who was selling goods from door to door to pay his way through school, found he had only one thin dime left, and he was hungry. He decided he would ask for a meal at the next house. However, he los...

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Category : General | Comments : 0 | Hits : 309

Right To Information Act, 2005
Posted Date : 09-Oct-2011 , 11:17:13 pm | Posted By CA. MANISH MALHOTRA

Dear Members, Right to Information Act, 2005(RTI) is not just only an act.   It is power in your hand, by using this power citizen can request for government information. As per section 2(j) of RTI ACT, 2005   "right to information" means...

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Category : General | Comments : 0 | Hits : 306

CAT 2011 Pattern Change: How to Prepare with the new format !
Posted Date : 08-Oct-2011 , 07:45:14 pm | Posted By AKHIL MAHESHWARI

  Dear CAT students, These two months are crucial for those who are appearing for CAT 2011. Most of you would have spent the last few months ensuring that you are well-prepared for what is rightfully considered as one of the toughest and most competitive entrance exams in I...

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Category : General | Comments : 0 | Hits : 263

Handling of practical paper in CA or CS
Posted Date : 08-Oct-2011 , 07:05:54 pm | Posted By AKHIL MAHESHWARI

  Cheer up friends, As this is preparation time for various exams. I am here with you once again with my sincere efforts to share useful and relevant stuff today. I’d like to share something about handling of Practical paper. I have seen many students struggling for handling Pr...

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Category : Students Zone | Comments : 0 | Hits : 967

Filing of financial statements in XBRL mode
Posted Date : 08-Oct-2011 , 04:25:38 pm | Posted By Venkat

*    XBRL is the Financial and Operational business reporting offshoot of Extensible Markup Language (XML), which is a freely licensable, open technology standard (or Vocabulary) used to exchange business information electronically. XML is the universally preferr...

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Category : Corporate Law | Comments : 1 | Hits : 773

3 Stages of revision for CA Exam success-Attention!Students!
Posted Date : 06-Oct-2011 , 05:39:22 pm | Posted By AKHIL MAHESHWARI

  Most of the students manage to complete (atleast) once the portions relevant for their attempt. But this is not enough. One needs to do intelligent revision of the same as many times as possible.   One Malayali friend of mine cried to me lite...

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Category : Students Zone | Comments : 0 | Hits : 746

Merger and Amalgamation - An Overview
Posted Date : 06-Oct-2011 , 02:46:07 am | Posted By AKHIL MAHESHWARI

  As per Companies Act, 1956 The terms merger and amalgamation have not been defined in the Companies Act, 1956 though this voluminous piece of legislation contains more than 50 definitions in Section 2 of the Act. For the purpose of this act the terms ‘Merger’ and &lsquo...

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Category : Merger & Acquisitions | Comments : 0 | Hits : 584

Service Tax Applicability on Apartment Owners Association
Posted Date : 04-Oct-2011 , 11:06:05 am | Posted By AKHIL MAHESHWARI

  In this article we would be going through the provisions of service tax which are relevant to associations.   Introduction   Þ    What is meant by Indirect Tax?   Service Tax is an indirect Tax which is received by the se...

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Category : Service Tax | Comments : 0 | Hits : 1114

'If today were the last day of my life, would I want to do what I am about to do today?'
Posted Date : 04-Oct-2011 , 11:04:13 am | Posted By AKHIL MAHESHWARI

  Steve Jobs, the CEO who got fired from his first job Talk of computers the first thing that strikes anyone today is 'Apple'. Know the success story of the brain behind this massive player.   Inspiring excerpts from the commencement speech by Steve Jobs, at...

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Category : General | Comments : 5 | Hits : 717

Life Lesson
Posted Date : 03-Oct-2011 , 11:02:06 am | Posted By Neha Jain


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Category : General | Comments : 1 | Hits : 1984

Two Courses at a time - Benefits and Benefits
Posted Date : 02-Oct-2011 , 06:44:59 pm | Posted By AKHIL MAHESHWARI

  Pursuing 2 Professional Courses at a time.   Well everyone feels that doing one course itself is sucking so much of blood then how much it will for doing 2 courses. Remember yaar Life is a race, if you don't run fast, you will be like broken anda.   First ...

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Category : General | Comments : 0 | Hits : 306

Its never too late..
Posted Date : 28-Sep-2011 , 03:41:01 pm | Posted By Ashish Gupta

  We often hear people saying “it’s too late now”. And that phrase is used in all aspects of life, whether in student life, social life, professional life or in personal relations as well. But I don’t think its ever too late or at least till someone is breathi...

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Category : General | Comments : 1 | Hits : 885

Double the efforts!
Posted Date : 28-Sep-2011 , 01:23:59 pm | Posted By Neha Jain

Double the efforts!   Les Brown, a noted inspirational speaker, tells the story of one of his friend, a salesman, who was in financial trouble because sales were down.  Les asked him, "How many phone calls are you making a day?" His friend answered, "Twenty five.&...

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Category : General | Comments : 2 | Hits : 372

Provisions of Section 269SS and 269T under Income Tax Act
Posted Date : 26-Sep-2011 , 08:08:58 pm | Posted By AKHIL MAHESHWARI

  Finance is the important part and need of every business. The own capital of a person may not be always sufficient to meet theneeds of finance of the business. Thereforethe Loans and deposits become necessary and important to meet the financial needs ...

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Category : Income Tax | Comments : 7 | Hits : 1043

Do you build barriers or build bridges
Posted Date : 26-Sep-2011 , 08:06:55 pm | Posted By AKHIL MAHESHWARI

  Once upon a time, two brothers who lived on adjoining farms fell into conflict. It was the first serious rift (split) in 40 years of farming side-by-side, sharing machinery and trading labor and goods as needed without a hitch.     Then the long collaboration fell...

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Category : General | Comments : 0 | Hits : 315

Liquidation of Company-Procedure
Posted Date : 24-Sep-2011 , 06:07:56 pm | Posted By CA.VIRAL JANI

  WINDING UP- PROCEDURE UNDER COMPANIES ACT, 1956 Winding up is the process by which the normal activities of the corporation or association of person is stopped and the assets and liabilities of the association is assessed and distributed among the shareholders as per the existing a...

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Category : Corporate Law | Comments : 0 | Hits : 834

RTGS (Real Time Gross Settlement)
Posted Date : 20-Sep-2011 , 04:37:40 pm | Posted By Neha Jain

What is RTGS Net Transfer?   RTGS is an abbreviated form of “Real Time Gross Settlement” which is a funds transfer mechanism characterised by money transfer from one bank toanother in real time and on gross basis. It is regarded as the f...

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Category : Banking | Comments : 7 | Hits : 1252

NEFT (National Electronic Funds Transfer)
Posted Date : 20-Sep-2011 , 04:34:06 pm | Posted By Neha Jain

The NEFT Service is useful for the seamless transfer of funds from one branch to another without any delay or procedural hassle. The operations and functions of the system are similar to RTGS. We have become active member of NEFT system and introduced a new product called TMB e...

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Category : Banking | Comments : 0 | Hits : 810

Electronic Clearing Service (ECS)
Posted Date : 20-Sep-2011 , 04:29:35 pm | Posted By Neha Jain

                    Electronic Clearing Service (ECS)   ECS is an electronic mode of funds transfer from one bank account to another bank account using the s...

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Category : Banking | Comments : 0 | Hits : 794

A 'Yes' Face
Posted Date : 20-Sep-2011 , 10:13:00 am | Posted By Neha Jain

  A 'Yes' Face   During Thomas Jefferson's presidency he and a group of travelers were crossing a river that had overflowed its banks. Each man crossed on horseback fighting for his life. A lone traveler watched the group traverse the treacherous river and then a...

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Category : General | Comments : 4 | Hits : 333

Removing Password from a PDF File
Posted Date : 18-Sep-2011 , 04:54:48 am | Posted By Vikas

There’s a free Windows utility called BeCyPDFMetaEdit that can help you remove passwords from PDF files without making any other change to the document. (I am not sure why the developers picked such a complex name for this useful utility). Here’s what you need to do: 1. Laun...

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Category : General | Comments : 1 | Hits : 911

Steps to Register a new Company
Posted Date : 18-Sep-2011 , 04:52:57 am | Posted By Vikas

Do you want to start an Indian Company?  To register a company, you need to first apply for a Director Identification Number (DIN) which can be done by filing eForm for acquiring the DIN. You would then need to acquire your Digital Certificate and register the same on the portal. Therea...

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Category : Corporate Law | Comments : 0 | Hits : 468

Precaution in eFiling in MCA
Posted Date : 18-Sep-2011 , 04:52:10 am | Posted By Vikas

In order to carry out e-filing on MCA21 you have facility to download the eform and fill it in an offline mode. Every form has the facility to pre-fill the data available in MCA21 system. Once the e-form is filled you would need to validate the e-form using Pre-scrutiny button. You would then hav...

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Category : General | Comments : 2 | Hits : 546

How to Incorporate a New Limited Liability Partnership
Posted Date : 18-Sep-2011 , 04:51:14 am | Posted By Vikas

A Limited Liability Partnership may be incorporated as per the procedure explained below: User Registration Register yourself on the website of Ministry of Corporate Affairs, developed for LLP services, i.e. www.llp.gov.in . This website may also be accessed through the websit...

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Category : Students Zone | Comments : 0 | Hits : 371

New Procedure of Income Tax payment challan correction by banks (for physical challans) from 1st September 2011
Posted Date : 18-Sep-2011 , 04:48:00 am | Posted By Vikas

Revised Procedure from 1st September 2011 to get Income Tax , TDS, Self Assessment Tax, Advance Tax, Wealth Tax and Other Direct tax Payment Challan corrected / Rectified which were paid at bank in Physical Mode and time period within which correction request can be made along with conditions , P...

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Category : Income Tax | Comments : 0 | Hits : 1276

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