Posted Date : 16-Apr-2013 , 10:30:16 am | Posted By RAVITOSH KUMAR

Under income tax act, in case of depreciable assets the selling expenses on account of transfer of such asset is treated differently from the normal accounting rules in the following situations: Normally, on transfer of asset we reduce the sale consideration by the amount of selling expenses (com...

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Category : Income Tax | Comments : 0 | Hits : 289

Posted Date : 16-Apr-2013 , 10:29:44 am | Posted By RAVITOSH KUMAR

Under Section 92BA, following are the transactions on which transfer pricing provisions apply whenever the amount of transaction exceeds 5 Cr.          i.            Any expenditure to which section 40A...

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Category : Income Tax | Comments : 0 | Hits : 836

Posted Date : 13-Apr-2013 , 10:23:54 am | Posted By Dhananjay Saraf

Nokia Tax Evasion Case Relating to TDS   This case is related to transaction done between Nokia India Ltd and its Finnish parent Nokia OYJ involving alleged tax evasion of nearly 3000 crores. As per news published in Business standard, Nokia India has been paying royalty payments to its pa...

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Category : Income Tax | Comments : 0 | Hits : 456

Posted Date : 09-Apr-2013 , 08:27:24 pm | Posted By Ash

                                Need of the hour   26-Mar-13 (11:00pm)   ...

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Category : Students Zone | Comments : 0 | Hits : 484

Posted Date : 08-Apr-2013 , 04:41:07 pm | Posted By Vinay Sharma

Conducting IPL Matches is not a Charitable Activity   IPL is commercial venture to maximize revenues from cricket. Registration of cricket associations conducting IPL matches are liable to be cancelled under section 12AA(3) by invoking the first proviso to section 2(15) In the instant case...

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

Posted Date : 05-Apr-2013 , 01:47:21 pm | Posted By Nitesh More

Vide letter No. 8/5(1669/65-PR dated 21-1-1963, AGM can be held on Sunday in certain cases: CA Nitesh More   CAN AGM HELD ON SUNDAY? PREPARED BY CA NITESH MORE   CASE 1: YES, ADJOURNED AGM CAN BE HELD ON SUNDAY.   CASE 2: YES,  AGM CAN BE HELD ON SUNDAY IF PROCEDURE TO S...

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Category : Income Tax | Comments : 1 | Hits : 996

Posted Date : 01-Apr-2013 , 08:11:49 pm | Posted By Vinay Sharma

16 Body Language Mistakes to Avoid at the Workplace   Body language matters a lot at work place. Wrong body language can leave a bad impression on your boss, your colleagues and everyone else. It can even make your boss fire you for wrong reasons. Here are some body language mistakes you ...

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Category : General | Comments : 2 | Hits : 5420

Posted Date : 30-Mar-2013 , 01:09:33 pm | Posted By Dulichand Kushwaha

This year is shaping up as a promising one for mergers and acquisitions. A recent Merrill Datasite/mergermarket report, “The Future of M&A in the Americas,” says 2013 is off to “frenzied start,” with more than 1,000 deals, worth US$267 billion, announced in the first ei...

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Category : General | Comments : 0 | Hits : 424

Posted Date : 30-Mar-2013 , 01:43:19 am | Posted By Siddharth Bumb

  1.MR DHIRUBHAI AMBANI   "You can do anything in your life though wherever you are."   2.MR RATAN TATA   "Think big and do it in reality."   3.MR. SUNIL BHARTI ...

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Category : Students Zone | Comments : 2 | Hits : 744

Posted Date : 26-Mar-2013 , 05:16:09 pm | Posted By Vinay Sharma

The Indirect Tax Ombudsman Guidelines 2011 The Guidelines are introduced with the objective of enabling the resolution of complaints relating to public grievances against the Customs, Central Excise and Service Tax Department and to facilitate the satisfaction or settlement of such complaints. C...

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Category : General | Comments : 0 | Hits : 756

Posted Date : 26-Mar-2013 , 11:54:17 am | Posted By Vinay Sharma

Tips and Suggestion for CA FINAL Note: Remember All topics are Important in CA. These are only selected topics which have more chances to come in exams. Paper 1: Financial Reporting1. start wid some Imp AS first which is Imp.. - AS 2, 15 ,16 ,22 ,28 ,30 ,31 ,322. Practice sums on Consolidation fro...

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Category : Students Zone | Comments : 0 | Hits : 4314

Posted Date : 25-Mar-2013 , 04:32:32 pm | Posted By Tejas Rupani

What things make difference between normal auditor and valuable auditor? More particularly I am focusing on article called as “More than Just Auditing” because we are leaving in a country which is emerging as a developed country by latest 2020. Now the time has come to create a value a...

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Category : Auditing | Comments : 1 | Hits : 933

Posted Date : 24-Mar-2013 , 06:02:45 pm | Posted By Vinay Sharma

Top of Form Few tips to Prevent Income Tax Raids. One should not keep any unaccounted or undisclosed money, property or income popularly known as black money. If such a disclosure is made before its detection by the Income Tax Department, the chances of being trapped in a tax raid are minim...

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Category : Income Tax | Comments : 0 | Hits : 1766

Posted Date : 21-Mar-2013 , 03:27:18 pm | Posted By Vinay Sharma

Suggestions and Important Topics for Paper 1 - Financial Reporting ( CA Final )   1. Start with AS as it has highest weightage around 40 marks, First and last question consists of AS only. Refer Practice Manual Questions and Module examples straight forward 2-3 questions will be out of them. ...

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Category : Students Zone | Comments : 0 | Hits : 3484

Posted Date : 20-Mar-2013 , 11:54:40 pm | Posted By Mayank Singla

The Hon’ble Finance Minister (FM) presented the Union Budget 2013amidst major challenges facing the Indian economy. Some of the most important considerations for the FM were reviving growth, increasing savings and investments, reining in inflation and gaining back the confidence of...

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Category : Income Tax | Comments : 0 | Hits : 484

Posted Date : 20-Mar-2013 , 06:41:02 pm | Posted By Vinay Sharma

Pre-requisites of Section 91(1) and 192 of I.T. Act, 1961   FACTS OF THE CASE   1. The assessee had paid tax of Rs. 82 Lakhs in Kuwait on income earned by it there during the previous year 1996-97 and accordingly claimed the benefit thereof in India in accordance with pro...

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Category : Income Tax | Comments : 0 | Hits : 1262

Posted Date : 20-Mar-2013 , 05:47:45 pm | Posted By Mayank Singla

1. In order to address the issue of mis-selling, a Committee was set up to examine the system of Product Labeling that would provide investors an easy understanding of the kind ofproduct/scheme they are investing in and its suitability to them. Based on the recommendations...

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Category : SEBI | Comments : 0 | Hits : 535

Posted Date : 20-Mar-2013 , 05:40:19 pm | Posted By Mayank Singla

The Financial Budget 2013bringing in many changes that are proposed to be implemented from 1st April, 2013 has bought in serious issues to be looked for and analysed by the tax regulators and experts. Section 195 of the Income Tax Act, 1961 states that: The income earne...

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Category : Income Tax | Comments : 0 | Hits : 496

Posted Date : 19-Mar-2013 , 03:21:38 pm | Posted By Harshit Gupta

Service Tax Applicability on Restaurants, Hotels   Applicabilty before 1st April 2013 All kind of restaurant whether big ,small should pay service taxonly if : -Services Provided in relation to serving of food restaurant or beverages by a restaurant, eating joint or a mess having the faci...

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Category : Service Tax | Comments : 0 | Hits : 1953

Posted Date : 19-Mar-2013 , 12:55:20 pm | Posted By Vinay Sharma

  8 Lies Of A Mother       The story begins when the person who shared this was a child. Born into a very poor family, often there was not much to eat in the house. Whenever there was some food, the Mother would give her portion of rice to the child and ...

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Category : Income Tax | Comments : 1 | Hits : 2603