CAclubindia Articles
'Wilful default' by the borrowers: Whether needs further stringent norms?
1. Introduction: Loans and advances given to borrower becomes non-performing advances (NPA) for a bank, if it ceased to generate income for the bank. This may be for the variety of reasons like, poor credit discipline, Inadequate credit and risk mana
Scenario Manager in Excel (Revised)
Scenario Manager in Excel A Step Towards Advance Excel (Revised)On Scenario Manager, I have already written an article but that was not properly presented and had some confusions. After getting review from some users, where they suggested that if t
The pioneer myth of CA v/s MBA
Comparing a CA and an MBA is like comparing Mahatma Gandhi and Vijay Mallya. Though both are humans but have poles apart persona, one has a dry-as-a-bone lifestyle, while the other has a fluid lifestyle. Excuse me! I am talking about CAs and MBAs.Any
Treatment of MTM losses on forward exchange contract
IntroductionForward Exchange Contract is one of the foreign exchange derivatives (like future contracts, options, swaps, forward exchange contracts etc.) commonly used in India by business firms to protect itself against the risk of fluctuations in f
SC on Battery charger as an accessory - An analysis
Recently Honourable Supreme Court had dealt with VAT Appeal Nos 54 &55 (O&M) of 2010 passed by the High Court of Punjab and Hariyana . While disposing Civil Appeal Nos 11486-11487 of 2014 of State of Punjab & Ors Versus Nokia India Pvt. L
Read Balance Sheet in 3 Simple Steps: Illustrated with Actual Example
Happy New Year in advance :) ! I was humbled by the response to my past article, READ BALANCE SHEET IN 3 SIMPLE STEPS!I had highlighted how you can just follow these 3 steps and analys
Service Tax on Voluntary Organizations (NGO)
After introduction of Negative List based taxation under service tax from 1.7.2012, the applicability of service tax to voluntary / non-profit organizations (NGOs) has become a contentious issue. This is because of introduction of all encompassing de
Tax audit puzzles
RECENT CAG REPORT The Comptroller and Auditor General Report no.32 of 2014 has taken the list of Chartered Accountants who have signed tax Audit cases under Income tax Act of more than 400during FY 2012-13 and there are 22people in the list. ARBITRAR
Threshold exemption to small service providers under service tax as updated 26th Dec'14
1. Summary of previous notifications related to threshold exemption along with limit, date of applicability and relevant Notification numbers: Period Exemption limit (Rs.) Relevant Notification of Service Tax Effectiv
Rebate on Export of Goods (Notification 41/2014)
Notification No. 41/2012-Service Tax29th June, 2012 This notification shall come into effect on the 1st day of July, 2012. It deals with the export of goods. The Central Government grants rebate of service tax paid (hereinafter referred to as rebate)
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