CAclubindia Articles
Accountant Malpractice Lawsuits - Collection Tool for Lenders?
riya 30 September 2007 at 22:20Accountant Malpractice Lawsuits - Collection Tool forLenders?By Grusd, Neville Lenders occasionally sue accountants for malpractice.This generally occurs when the lender suffers a lossand claims that the advances were made in reliance onincorre
FAQ on DIN
riya 30 September 2007 at 22:20Frequently Asked Questions (FAQ) on 'Director Identification Number (DIN)' 1. What is Director Identification Number (DIN)? Itis an unique Identification Number allotted to an individual who is anexisting director of a company or intends to be ap
Guidelines for preparation & appearance in exams
riya 30 September 2007 at 01:25Examination Guidelines:While there is no substitute forhard work, here are a few guidelines that will supplement your efforts inpassing CA/CWA/CS examinations. PreparationStudy from Study Notes of the Institute for all subjects supplemented by othe
Microsoft Excel Fails Math Test
धारा - 1 29 September 2007 at 23:09Microsoft's Excel 2007 spreadsheet program is going to have to relearn part of its multiplication table.Ina blog post, Microsoft employee David Gainer said that when computerusers tried to get Excel 2007 to multiply some pairs of numbers and t
Sec 43A of the IT Act Vs. AS 11
Ravikumar.G 29 September 2007 at 16:10Suppose a machine was imported for one lakh US dollars when the exchange rate was Rs 45 per dollar. Both in the accounting records as well as in the tax records, the transaction would have been recorded debiting the asset concerned with Rs 45 lakh. B
Declared goods as per CST Act
Ravikumar.G 29 September 2007 at 11:33Goods of special importanceThere are restrictions on imposition of sales tax on declared goods.Article 286(3)(a) of Constitution of India authorises Parliament to declare some goods as of 'special importance' and to impose restrictions and conditions
Sale during Import or Export - as per CST
Ravikumar.G 29 September 2007 at 11:33Sale in course of exportArticle 286(1)(b) of Constitution of India prohibits imposition of sales tax on import and export by State Government. Since charging section 6(1) of CST Act levies tax only on inter-State sale, naturally, there is no CST on s
A brief Note of Inventory Valuation
Ravikumar.G 29 September 2007 at 11:33Valuation of closing stock requires consideration of Income Tax, Cenvat, Accounting Standards and Company Law.Stock should be valued at cost or market value, whichever is lower, as it is a prudent business practice. This principle has been accepted i
RBI FOR DOMESTIC CARD PAYMENT SYSTEM
Ravikumar.G 28 September 2007 at 22:18The Reserve Bank of India (RBI) is in favour of a domestic card payment settlement company to rival the global payment majors Visa and MasterCard. The Indian Banks Association (IBA) had earlier proposed the setting up of a domestic card transaction
REMOVE DUMPING DUTY ON STYRENE BUTADIENE RUBBER
Ravikumar.G 28 September 2007 at 22:18The All India Rubber Industries Association (AIRIA) has sought a removal of anti-dumping duty on styrene butadiene rubber (SBR), which is a synthetic substitute for natural rubber. "There is no logic for clamping an anti-dumping duty on SBR, since i
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