CAclubindia Articles

Partial reverse charge in the case of firms

Jatin Srivastava 04 August 2014 at 11:36

Partial reverse charge mechanism on manpower supply if service receiver is a firm As per the provisions of reverse charge mechanism on manpower supply it is applicable only in the cases, where the service receiver is a body corporate.The word body c

Simple Process to raise capital for unlisted companies under new Company Law

CA Nitesh Kumar More 04 August 2014 at 11:36

A. A Pvt Ltd is having two members, Mr A & Mrs A. Co wants to raise Rs 2 Lakhs by issue of equity shares. Mr A & Mrs A do not want to invest further. Even Mrs A wants to sell some shares. However, Mr C wants to invest in the Company. It is

Black Money - Income Tax weapon of Search & Seizure becoming Stingless!

Guest 04 August 2014 at 11:35

Today, I intend to discuss the most powerful and intrusive tool of Search & Seizure that the Income Tax Department possesses. In fact, in general public perception, the Income Tax Department is better known for its 'raids' on corporate ho

Demand of Tax vs Pre Deposit

Dilip K Raina 04 August 2014 at 11:35

"Taxation should not be a painful process for the people. There should be leniency and caution while deciding the tax structure. Ideally, governments should collect taxes like a honeybee, which sucks just the right amount of honey from the flow

No ST on Deputation of employees on cost-sharing basis

Bimal Jain 02 August 2014 at 12:58

Deputation of employees on cost-sharing basis does not fall under Supply of Manpower Services We are sharing with you an important judgment of the Honble High Court of Gujarat in the case of Commissioner of Service Tax Vs. Arvind Mills Ltd. [(

Tips to handle Costing subject in Professional Exams

Ankur Garg 02 August 2014 at 12:58

Dear Students, I am sure you all are eagerly waiting for your May 2014 CA attempt result. So first of all I would like to convey my best wishes to you. Further it is also a fact that November 2014 exams are approaching and it is high time for us to s

Grossing up of Dividend for distribution tax - increase in effective Dividend Distribution tax rate of 3.47%

rajat aggarwal 02 August 2014 at 12:58

The Finance (No.2) Bill, 2014 proposes to levy pidend distribution tax by grossing up the pidend payable for the purpose of computing liability towards pidend distribution tax. As per the existing provision of Section 115-O pidend distribution tax at

Salman Khan gets a kick

Guest 01 August 2014 at 12:23

In a recent decision pronounced by Honble ITAT (Mum) on 30-07-2014 in case of Salman Khan vs. ACIT wherein the assessee had claimed various legal expenses incurred for defending himself in various criminal proceedings pending in the court. The

PSF, PFY and Tow- Ache din aa gaye hai

Pradeep Jain 01 August 2014 at 12:15

There was litigation on the point of taxability of ‘Tow’ which is an intermediate product in the manufacturing of Polyester Staple Fiber (PSF) and Polyester Filament Yarn (PFY) manufactured from plastic waste or scrap or plastic waste in

Procedures for Conversion of Private Company into OPC

Ankur Garg 01 August 2014 at 12:15

Dear Professional Colleagues, Procedures for Conversion of Private Company into One Person Company (OPC) are regulated by Rule 7 of Companies (Incorporation) Rules, 2014. Before going through the procedure it is necessary to understand about the conc