How to deal with Law paper in CA/CS
Posted Date : 13-Aug-2012 , 11:55:40 pm | Posted By
Mukul Gulati
How to deal with law paper
Hello,
Focus on important topics and make a strategy to complete them first. If you can successfully perform this task then it will give you lot of confidence.
Prepare a list of Exam oriented important chapters with the help of sca...
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Category : Students Zone |
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CS: Must read post for all CS students
Posted Date : 13-Aug-2012 , 11:50:14 pm | Posted By
Mukul Gulati
CS: Must read post for all CS students
Is LLB a must for CS profession?
LL.B. is a great and recognised combination with CS. But we cannot say that it is must for a Company Secretary. If you are having LL.B. degree then it would be counted as an additional advantage and yo...
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Category : Students Zone |
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DIFFERENCE BETWEEN RTGS AND NEFT
Posted Date : 13-Aug-2012 , 06:23:35 pm | Posted By
SUMIT GERA
NEFT and RTGS are the two convenient modes of money transfer between banks in India.
# “RTGS” refers to Real Time Gross Settlement, it is popular fund transfer mechanism which enables the transfer of money between two banks on a “real time” ...
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Category : Banking |
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4 | Hits : 1506 |
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Procedure for registration of company
Posted Date : 13-Aug-2012 , 10:19:52 am | Posted By
Mukul Gulati
Procedure for registration of company
1) Obtain Director Identification Number (DIN)
DIN is the identification number issued by MCA mandatory required for each of the proposed director of the company. Application in Form DIN-1 shall be made online and DIN number of the person intending to...
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Category : Corporate Law |
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Little known schemes u/s. 80C of Income Tax Act
Posted Date : 13-Aug-2012 , 10:18:17 am | Posted By
Mukul Gulati
Little known schemes u/s. 80C of Income Tax Act
If an individual falls in the 30% tax bracket and has exhausted the maximum limit of Sec 80C, one can save Rs 30,900 in taxes. We run you through the provisions of Section 80C. However, we highlight those schemes that are little known and ...
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Category : Income Tax |
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Retained Earnings.
Posted Date : 12-Aug-2012 , 04:09:50 pm | Posted By
Vikash Kumar Jha
What are Retained Earnings?
LIFE SUDHARA. is a company based in the City of Mithalanchal.
This year, the company generated bountiful profits, amounting to $1000 million.
So, the company decided to distribute some profits, to the shareholders.
The remaining profits were ...
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Category : Finance |
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Application of Funds.
Posted Date : 12-Aug-2012 , 03:27:07 pm | Posted By
Vikash Kumar Jha
Application of Funds
Complicated Noodles, a company situated in the Patna City, has got funds to run the business.
That means money is employed somewhere on the Earth.
That’s where Application of Funds comes into the picture.
What is Application of Funds?
The place where...
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Category : Finance |
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Which course is more beneficial – ICWA or CA?
Posted Date : 12-Aug-2012 , 02:16:43 pm | Posted By
Mukul Gulati
Which course is more beneficial – ICWA or CA?
Aspirants who are looking for a lucrative career in accounting, auditing or taxation can pursue either ICWA or CA course. Career opportunities available after pursuing any of these courses include Auditors, Managers, Accountants and Credit Officer...
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Category : Students Zone |
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Know TAN Number Structure – What it signifies
Posted Date : 12-Aug-2012 , 11:58:52 am | Posted By
Sunil Chaurasiya
TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. Under Section 203A of the Income Tax Act, 1961, it is mandatory ...
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Category : Income Tax |
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Partial Reverse Charge Mechanism – Putting Service Tax in Forward Gear
Posted Date : 12-Aug-2012 , 11:26:25 am | Posted By
Sunil Chaurasiya
Partial Reverse Charge Mechanism – Putting Service Tax in Forward Gear
Introduction
1.0 The concept of “reverse” though important, has limited applicability in our day-to-day life. We are familiar with reversing a vehicle for limited purposes. A vehicle cannot be d...
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Category : Service Tax |
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Present the THEORY papers in this way
Posted Date : 11-Aug-2012 , 01:58:44 pm | Posted By
Mukul Gulati
Present the THEORY papers in this way
Hi friends in this article I am going to explain the role of THEORY PAPERS IN PROFESSIONAL EXAMS like CA,CS,ICWA etc., as we all know that theory papers is very boring subjects (because myself I am very irritated with theory part) but if you presen...
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Category : Students Zone |
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It may sound strange
Posted Date : 11-Aug-2012 , 10:20:56 am | Posted By
Mukul Gulati
It may sound strange, but Independent India has at least one major scam for almost every alphabet of the English language…
A for Adarsh
Mumbai's high rise Adarsh Housing Society was meant for Kargil war widows and veterans. However top Army brass, politicians and bureaucra...
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Category : Students Zone |
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10 Things You Should Keep In Mind While Filing Income Tax Return
Posted Date : 10-Aug-2012 , 01:04:36 pm | Posted By
Mukul Gulati
10 Things You Should Keep In Mind While Filing Income Tax Return
Time is now; don’t wait for the last date to file Income Tax Return which is approaching near. The month of July is the month for filing Income Tax Returns by every assesse in order to avoid late payment, interest and pena...
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Category : Income Tax |
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0 | Hits : 394 |
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Tips to Prepare for INCOME TAX/ DIRECT TAX( PCC, IPCC, CA Final & CS)
Posted Date : 09-Aug-2012 , 05:53:33 pm | Posted By
Mukul Gulati
Tips to Prepare for INCOME TAX/ DIRECT TAX( PCC, IPCC, CA Final & CS)
1. No need to say that Modules are of almost no use here as they are too old and expired.
2. There are a lot sections, what to remember what to not….confusion?? Solution is...
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Category : Students Zone |
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Time Management Tips for CA Students
Posted Date : 09-Aug-2012 , 01:48:01 pm | Posted By
Mukul Gulati
Time Management Tips for CA Students
How do you manage your time?
1. Always define your objectives as clearly as possible.
Do you know what marks a successful man from unsuccessful ones?? Successful man knows where he has to go. He has a desired destination and he draws a plan...
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Category : Students Zone |
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Create HUF to save tax
Posted Date : 08-Aug-2012 , 11:00:12 pm | Posted By
Mukul Gulati
Create HUF to save tax
KEY POINTS IN CREATION OF HUF AND FORMAT OF DEED FOR CREATION OF HUF
1. Under the Income Tax Act, an HUF is a separate entity for the purpose of income tax return.
2. The same tax slabsare applicable to HUF as to individual assesse.
3. You cannot transfer yo...
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Category : Income Tax |
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Real Estate/EPC Contracts : Draft Guidance Note for Cost Records
Posted Date : 08-Aug-2012 , 10:42:03 am | Posted By
NAVNEET KUMAR JAIN
Real Estate/EPC Contracts : Draft Guidance Note for Cost Records
By Navneet Kumar Jain, Practising Cost Accountant, Delhi
Institute of Cost Accountants of India has recently released a draft guidance note on the maintenance of cost records in respect of Real Estate Industry. Be...
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Category : ICWAI |
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DEDUCTIONS FROM HOUSE PROPERTY
Posted Date : 07-Aug-2012 , 02:03:50 pm | Posted By
Surendra Kumar Dash
DEDUCTIONS FROM HOUSE PROPERTY
1. DEDUCTION U/S.23 (1): For let out property, amount actually paid by the owner towards taxes levied by any local authority in respect of the property is deductible from Annual value (taxes pertaining to any previous years).
2. DEDUCTION U/S.24 (a): For l...
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Category : Income Tax |
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Income Tax Benefits on Various Plans of LIC
Posted Date : 07-Aug-2012 , 09:56:51 am | Posted By
Mukul Gulati
Income Tax Benefits on Various Plans of LIC
1) Deduction allowable from Income for payment of Life Insurance Premium (Sec. 80C).
(a) Life Insurance premia paid in order to effect or to keep in force an insurance on the life of the assesse or on the life of the spouse or any child of asse...
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Category : Income Tax |
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What’s better- Trust, Society or Sec.25 Company?
Posted Date : 06-Aug-2012 , 06:30:07 pm | Posted By
Mukul Gulati
What’s better- Trust, Society or Sec.25 Company?
There are three different ways in which one can share good fortune with others in an organized and enduring manner and receive legal protection as well as tax benefits.
One can set up either a public charitable trust, a registeredsoci...
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Category : Income Tax |
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Inconsistencies in ITR which need to be avoided for accurate processing of I-T Return
Posted Date : 06-Aug-2012 , 10:49:23 am | Posted By
Yogesh Setia
Data Inconsistency issues which need to be avoided for accurate processing.
1. Set off of brought forward loss claimed, but Schedules BFLA / CFL not filled ……. Year of loss not indicated in CFL.
2. Profit before tax (at serial No. 43...
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Category : Income Tax |
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Revised Return & Rectification Request in case of e-filed I-T Return
Posted Date : 06-Aug-2012 , 10:47:01 am | Posted By
Yogesh Setia
Article deals with FAQ related to Revised Return & Rectification in case of return filed online. The article explains about how to file Rectification request, what if you get error in filing rectification u/s 154, what if wrong assessment year entered, How many time return can be revise...
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Category : Income Tax |
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Bank Concurrent Audit
Posted Date : 04-Aug-2012 , 01:51:08 pm | Posted By
Vikash Kumar Jha
Bank Concurrent Audit
Bank Concurrent Audit is a kind of internal audit where auditor responsibility is to review and correct assign bank branch internal control system.
However compare to other internal audit, concurrent audit is little different; in concurrent audit auditor ...
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Category : Auditing |
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Differences Between Internal Audit And Statutory Audit
Posted Date : 04-Aug-2012 , 01:29:29 pm | Posted By
Vikash Kumar Jha
An internal audit is conducted by the permanent staff of the same office to detect weakness in system, procedures and for the improvement. But statutory audit is the act of checking books of accounts as per the provision of company act. Both of them check books of account, detect errors and fraud...
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Category : Auditing |
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Negetive list of services under service tax
Posted Date : 04-Aug-2012 , 01:02:19 pm | Posted By
Vikash Kumar Jha
In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act) and in supersession of notification number 12/2012- Service Tax, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part ...
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Category : Service Tax |
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Very motivational Must read by every one
Posted Date : 03-Aug-2012 , 06:07:51 pm | Posted By
Yogesh Setia
I was Conductor - Rajnikanth
I didn't completed my University - Bill Gates
I Stitched Shoes in childhood - Abraham Lincoln
I was the one who served in Hotels - Oberoi
I worked in a Petrol Pump - Ambani
I Failed in class 10 - Sachin Tendulkar
Drop-Out and Keyboard Player - A.R.Rahm...
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Category : General |
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PERSONALITY- What is it ?
Posted Date : 01-Aug-2012 , 02:07:36 pm | Posted By
Vikash Kumar Jha
PERSONALITY- What is it ?
The Word Personality Has Been Generated From The Greek Word ”PERSONA”. And The Word Persona Refers “MASK”
PERSONALITY = PERSONA = MASK
So we can say if we want to kn...
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Category : General |
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Deduction at a lower rate or non-deduction of tax
Posted Date : 31-Jul-2012 , 02:48:13 pm | Posted By
Surendra Kumar Dash
Section 197 enables a tax payer to make an application to his Assessing Officer for deduction of tax at a lower rate or non deduction of tax. The application has to be made in Form No.13 (vide Rule 28(1)). If the Assessing Officer is satisfied that the total income of a tax pay...
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Category : Income Tax |
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Withdrawal from Provident Fund before Completion of 5 years taxable?
Posted Date : 30-Jul-2012 , 02:50:43 pm | Posted By
Deepak Tanwar
Dear All,
Withdrawal from Provident Fund (PF) Account before Completion of Five years taxable?
Withdrawal of Provident Fund may attract Income Tax. The Income Tax Department recently told EPFO (Employees Provident Fund Organisation) to deduct Tax (TDS) from the withdrawal amount, if the w...
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Category : Income Tax |
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1 | Hits : 1285 |
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Monetary Benefits for Tree Plantation
Posted Date : 29-Jul-2012 , 01:52:18 pm | Posted By
Pique242
Benefits for Tree Plantation
I aim at planting a good idea in your mind.
Carbon production is rising daily by huge volume. Gases like Carbon Monoxide (CO) and Carbon dioxide (Co2) continue to increase their share in atmosphere as you read this article.
...
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Category : Income Tax |
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3 | Hits : 431 |
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