Posted Date : 16-Apr-2013 , 10:35:29 am | Posted By RAVITOSH KUMAR

Under section 201(1), any person who is liable to deduct tax at source fails to deduct whole or any part of such amount or after deducting fails to deposit the tax to the department, he shall be deemed to be assesse in default in respect of the tax liable to interest u/ 220 and penalty u/s 221. U...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1271

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...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 304

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...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 859

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...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 475

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

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

Continue Reading...

Category : Students Zone | Comments : 0 | Hits : 497

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...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1282

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...

Continue Reading...

Category : Income Tax | Comments : 1 | Hits : 1013

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 ...

Continue Reading...

Category : General | Comments : 2 | Hits : 5435

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...

Continue Reading...

Category : General | Comments : 0 | Hits : 436

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 ...

Continue Reading...

Category : Students Zone | Comments : 2 | Hits : 760

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...

Continue Reading...

Category : General | Comments : 0 | Hits : 778

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...

Continue Reading...

Category : Students Zone | Comments : 0 | Hits : 4357

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...

Continue Reading...

Category : Auditing | Comments : 1 | Hits : 957

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...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1775

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. ...

Continue Reading...

Category : Students Zone | Comments : 0 | Hits : 3499

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...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 517

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...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 1270

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...

Continue Reading...

Category : SEBI | Comments : 0 | Hits : 546

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...

Continue Reading...

Category : Income Tax | Comments : 0 | Hits : 504

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...

Continue Reading...

Category : Service Tax | Comments : 0 | Hits : 1996