CAclubindia Articles

FTS u/s 9 of Income Tax Act, 1961

Posted by CA Nischal Agarwal 22 November 2014 31564 Views

Installation & Commissioning Expenses are not covered under the definition of FTS u/s 9 of Income Tax Act, 1961 The issue is no longer res integra as it has been held by Honble ITAT Mumbai in case of Bennet Coleman & Co. Ltd. Vs ITO(TD

Loophole in section 139 of the Co. Act, 2013

Posted by CA HEMANT SHARMA 22 November 2014 47392 Views

LOOPHOLE IN SECTION 139 OF THE COMPANIES ACT, 2013The legislature in their wisdom decided to plug loopholes of the erstwhile Companies Act, 1956 by inclusion of various new provisions to prevent frauds in the Companies Act, 2013 which were not a part

Service tax adjustment and refund

Posted by Annu Agarwal 21 November 2014 80244 Views

Every one of us is already trying our level best to understand the Service Tax provisions, but it is really difficult to cover up all that is written in the Finance Act.Lets get started:Question 1: What all are th

CBEC clarification on availment of Cenvat credit

Posted by Bimal Jain 20 November 2014 30898 Views

Dear Professional Colleague,CBEC clarification regarding availment of Cenvat credit on Inputs/ Input Services after six monthsBackground:The CBEC vide Notification No. 21/2014-CE (NT), dated July 11, 2014 (Applicable w.e.f September 1, 2014) [

The Hare Could Win Here !!

Posted by Prof. Bajaj 19 November 2014 23074 Views

This is the story of 2 friends viz Amar and Rakesh. Both were from middle-income family backgrounds. Both joined same company at the same salary level of around Rs. 23,000 p.m.We all have heard the story of a hare and tortoise wherein the hare was fa

How do Internal Controls manifest in an Organization?

Posted by Tulasi S Sastri 19 November 2014 46196 Views

In my last article, “Internal Audit under the new Companies Act 2013 – Opportunity or Responsibility for the Internal Auditor?”, released through this medium on 11th November 2014, some of the key words used were, Orderly and Effici

Meaning of Debit Note & Credit Note

Posted by Ankur Dudani 19 November 2014 925365 Views

#!,This Article contains Detainled Information about Debit Note & Credit NoteDebit note is a note sent by one party to another informing him that his account is debited in the sender's book.e.g. P (Purchaser) Purchased goods from S (Seller)

Advocates alone are entitled to Practice, Plead and Act before the revenue authorities

Posted by BSKRAO 19 November 2014 39992 Views

(1) When the Deptt. is taking so much of security measure for e-filing of tax returns through only Assesses Digital Signature Certificates etc., person filing the return in the capacity of Individual, HUF and Artificial Juridical Person should only a

Service tax on Restaurants and Hotels

Posted by Bimal Jain 17 November 2014 47235 Views

Dear Professional Colleague,Service tax on Restaurants and Hotels - We are sharing with you an important judgment of Division Bench of the Hon’ble Kerala High Court in the case of Union of India and Others Vs. Kerala Bar Hotels Association and

You decide importance of Majority and resolutions in your business

Posted by CA Umesh Sharma 17 November 2014 12496 Views

Karniti part 63You decide importance of Majority and Resolutions in your BusinessArjuna (Fictional Character): Krishna, In Maharashtra State discussion on proving Majority and resolution for proving trust in Government is going on. Its for the