CAclubindia Articles
Gifts received not to be indicated in ITR
Introduction :-As per Section 56 of Income Tax Act 1961, Gift exceeding Rs. 50,000/- is taxable in the hands of Donee and is to be indicated under the head Income from Other Sources in ITRs. But if gifts recei
Incorporation of one person company
“With the development of the practice, there will be more and more ‘exception’ phenomena which can’t be explained by the original thoughts or theories. Once these exceptions developed to such an extent that waved people’
Incorporation of Private Limited Company
Features of Private Limited Company Separate Legal Status Capacity to borrow Easy Transfer of shares Minimum number of Members : 2 ; Maximum number of Members : 200 Minimum Capital : Nil {omitted by Companies (Amendment) Act, 2015} Limited Liability
13 Reasons why CA students are facing failure in exam
First of all, Congratulations to those students who have cleared CA- IPCC and CA- Final exam. After the declaration of Result, there are a few happy faces of candidates who�ve managed to clear the exams. Their hard work has been rewarded and t
Economic Policies consideration while framing Tax Proposal
ECONOMIC POLICIES TO BE CONSIDERED WHILE FRAMING TAX PROPOSALSThe Government's Economic Policy for 21st Century- If it moves, Tax It. If it keeps moving, regulate it.
The Chartered dream
Becoming a CA is many people�s dreamSome make it happen and some don�tThere will always be a vacuum in the depths of the heart, when you have not achieved itThis story is just a portrayal of the human emotion.----The Chartered dream-----L
Alteration of Memorandum of Association of Company
MEANING:The expression �alter� means to modify/change or vary; to make or become different in some respect.As per Section 2(3) of the Companies Act, 2013 (the Act) �alter� and �alteration� shall include the making
The consolidated audit report under companies act 2013 (The Devil lies in Detail)
As per the Guidance Note of the ICAI, �The Council of the Institute of Chartered Accountants of India has issued Accounting Standard (AS) 21 'Consolidated Financial Statements' which lays down principles and procedures for preparation a
Update on indirect taxes for the month of Aug
A. Service Tax1. Rate of Service Tax � The rate of service tax has been changed to 14% w.e.f. June 1, 2015. No cess shall now be applicable. Levy of Swacchh Bharat Cess has not been notified till yet.2. Service Tax payment for the month of Jul
FM senses delay in implementation of GST by 1st April 2016
Looking to the ongoing protests and non co-operation movements in the Parliament , the Implementation of Goods & Service Tax (GST) regime in India from 1st April 2016 is in doldrums.Since the factum is that once the GST Bill is passed from Rajya
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