CAclubindia Articles

Coming Up- Clarification on Works contract

CA Nikita 29 July 2007 at 02:22

The government said it would issue clarification on works contract which was included under service tax net this year. "We will issue clarification with regard to the ongoing contract after formal examination," Finance Ministry Joint Secretary (TRU-I

articles on clause 49 of listing agreement

geetika 28 July 2007 at 01:59

Securities and Exchange Board of India (SEBI) had vide its Circular No. SEBI /CFD/ DIL/CG/1/2004/12/10 dated 29th October 2004 had issued directives to implement new clause 49

Substance over Form-TDS

CA Nikita 23 July 2007 at 01:18

Mere nomenclature used in the lease agreement, such as security deposit or advance deposit, will not be conclusive of the nature of the payment. The reality of the transaction will have to be looked into.Tax law seeks to safeguard the interests of th

Overhead Expenses

ANSHUL RASTOGI 14 July 2007 at 05:24

Allocation of Overhead Expenses[Submitted by Mr. Anshul Rastogi, CA(Final) Student] Overhead is expenses incurred for carrying out the production process and sale of finished goods. On the other hand overhead is an indirect cost i.e. cost does not d

AS-2 v/s IAS-2

ANSHUL RASTOGI 14 July 2007 at 05:22

Comparative Study of AS-2 (Valuation of Inventories) and IAS-2 (Inventories)[By Mr. Anshul Rastogi, Meerut, Uttar Pradesh,Student of CA Final]June 12, 2007AS-2IAS-2Valuation of Finished Goods and Work In Progress (WIP) Inventories in form of finished

AS-22 v/s IAS-12

ANSHUL RASTOGI 14 July 2007 at 05:21

COMPARATIVE STUDY OF AS-22 (ACCOUNTING FOR TAXES ON INCOME) AND IAS-12 (INCOME TAXES)[Submitted by Mr. Anshul Rastogi,CA(Final),Meerut, Uttar Pradesh]July 6, 2007OBJECTIVE (AS-22 and IAS-12) To prescribe the accounting treatment for taxes on income.

Multidisciplinary firms - Care, caution and credits

Late CA Sampat Jain 10 July 2007 at 10:53

Subject : Chartered Accountants Act & Regulations Month-Year : May 2007 Author/s : T. N. Manoharan Chartered Accountant Topic : Multidisciplinary firms - Care, caution and credits

CENVAT Credit on mobile phones

Atul Jain 05 July 2007 at 02:54

CENVAT credit is allowed to output service providers in respect of input services consumed by them used in providing output service.It is often argued that CENVAT Credit is not allowed on Service Tax paid on mobile phones.Argument is backed by Circul

Will tribunals trivialise justice delivery?

CA Nikita 03 July 2007 at 02:06

It's increasingly a conflict between the judiciary and the quasi judiciary, seen by many as closer to the executive than the judiciary. The question is whether the new, powerful tribunals and commissions proposed by the government to speed and "moder

Taxman's brush with fine art of evasion

CA Nikita 03 July 2007 at 00:51

Tax evasion, some say, has become a fine art in India. So, it wasperhaps a matter of time before fine art came under the I-T scanner.It would certainly be hard for taxmen to ignore this phenomenon,with the Indian art market currently valued at $350 m