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CONSOLIDATED COMMERCIAL DIGEST (CCD) HIGHLIGHTS

  CA Nikita    13 August 2007 at 03:25

CCD CHAMBERSFind out answers to your queries on the following subjects:Income-taxConversion of partnership into joint stock company under Part IX ofthe Companies Act - Whether liable to capital gains tax? P. 574Liability to deduct tax at source on pa



Inconsistency in the quarterly etds and etcs returns

  RAJAN GUPTA    12 August 2007 at 10:24

INCONSISTENCY IN QTRLY ETDS/ETCS STATEMENT Directrote General of Income tax(systems) is serving letters regarding inconsistency in the quarterly etds and etcs returns submiited by assessees.Formats of Table showing inconsistencies is given ABOVE.Word



Process for conducting Internal Audit!!

  CA Nikita    08 August 2007 at 06:45

Although every audit project is unique, the audit process is similar for most engagements and normally consists of four stages: Planning (sometimes called Survey or Preliminary Review), Fieldwork, Audit Report, and Follow-up Review. Client involvemen



Money Laundering - A Big Crime

  tarun    07 August 2007 at 01:19

MONEY LAUNDERING Introduction: The word 'laundering' has been derived from cleaning dirty clothes. Money laundering means conversion or laundering of money which is illegally obtained. Commonly used definition by FATF "The Finan



Research & Development Cess Act

  siddharth    06 August 2007 at 08:10

While rendering Structuring advice involving know how transfers( "Research") the following R & D Act may be consider from point of view of Tax implication. Payment of R&D CESSEXTRACTS FROM RELEVANT SECTIONS/CLAUSES OF R&D CESS ACT, 1986



Make your Resume Powerful!!!

  CA Nikita    06 August 2007 at 05:35

Presenting your resume is the first step in the process of getting a desired job. A good resume will land you an interview; a sloppy one won't. Hence, the importance of writing a powerful resume doesn't need much emphasis.A 'Resume' is like a marketi



Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07

  CA Nikita    06 August 2007 at 05:22

RBI/2007-2008/101DBS.ARS.BC. No. 3/ 08.92.001/ 2007-08 July 25, 2007To,The Chairman & Managing Director, all Nationalised Banks andThe Managing Director, Associate Banks of SBIDear Sir/Madam, Remuneration pa



MAT

  CA Nikita    30 July 2007 at 07:29

The MAT credit is available in respect of MAT paid under Section 115JB of the Income-tax Act with effect from assessment year 2006-07. The amount of MAT credit would be equal to the excess of MAT over normal income-tax for the assessment year for whi



Reduction in Perq value from 20 to 15%

  HVNK    30 July 2007 at 02:56

How do I find out which IT Circular has notified the reduction for company accomodation from 20% to 15%? What source of data will be used by the IT dept to decide thepopulation of a given city for housing? (e.g., if Navi Mumbai is below1 million and



Concealment-Conscious/Unconscious

  CA Nikita    29 July 2007 at 03:34

Concealment or furnishing inaccurate particulars of income is liable for penalty. The concealment may be deliberate or otherwise. Provisions relating to concealment penalty have undergone frequent changes . For example, the Finance (No. 2) Act, 1977