Articles by CA Nikita

Do's & don'ts of working with Auditoes

CA Nikita 15 September 2007 at 15:05

The Do's and Don'ts of Working with Auditors by Carol WoodburySOX, PCI, ISO.. You're going to have to work with auditors eventually. Whether you're working with an auditor who's performing an internal \nor external Sarbanes-Oxley (SOX) audit, a Paymen

Doing Business in India: Budget 2007-2008

CA Nikita 11 September 2007 at 22:53

Archana Rajaram and Daksha BaxiNishith Desai Associates, Mumbai ________________________________________The Budget presentation by the Indian Finance Minister ('FM') is an important annual fiscal event for the nation. It not only narrates the fiscal

Take Care and make ur life easier-CA's

CA Nikita 06 September 2007 at 14:12

- At early age if the person manage to have his own residence house. He would prefer to go for that first. It will not only give the benefit of tax, but vis-à-vis offers security in life. He would also think of the following option availabl

New derivatives valuation norms to sway banks' bottomlines

CA Nikita 01 September 2007 at 20:04

Bank balance sheets may turn more volatile on account of the new accounting rules that would change the way derivatives are valued. The central bank has set up a sub-group to look at implementation of Accounting Standard 30 (AS 30), which pertains to

Complications and Facts of Accountancy

CA Nikita 23 August 2007 at 18:09

With the opening up of the real-estate industry, there has been an increase in Foreign Direct Investment (FDI) in the sector. According to a report by property consultants Jones Lang LaSalle, an estimated $10 billion foreign investment is expected to

Tax filing isn't easy in India!!

CA Nikita 23 August 2007 at 17:05

The month of July is associated with the time for filing returns of income by individual taxpayers. The government has recently notified new forms for filing income tax returns. These forms replace the old ones. Any person planning to file her return

Wealth-tax (First Amendment) Rules, 2007

CA Nikita 22 August 2007 at 18:59

Wealth-tax (First Amendment) Rules, 2007 - Amendments in rule 4A, substitution of rule 4AA and Form DA; insertion of Form DAANotification No. 216/2007 [F. No. 142/11/2007-TPL], dated 7-8-2007In exercise of the powers conferred by section 46 of the We

Draftsman dividing a house

CA Nikita 21 August 2007 at 17:07

Two issues come up routinely for debate in the context of housing-related tax benefits. Section 54 of the Income-Tax Act, 1961 spareslong-term capital gains from transfer of a residential house fromtax if at least such gains are ploughed back or roll

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

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