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Department cannot adjust unconfirmed demand against refund payable to the assessee
Dear Professional Colleague,Department cannot adjust unconfirmed demand against refund payable to the AssesseeWe are sharing with you an important judgement of the Honble CESTAT, Delhi in the case of Bharat Sanchar Nigam Ltd. Vs. Commissioner
Business Enabler - Something that we CA's need to be!!
Do not book unrealised gains but provide for all potential losses this is the most commonly taught convention of conservatism to all of us who studied CA. We follow it so much throughout our work life, that uninten
Cracking CA Final not difficult
My Dear Friends, I would like to ask you Is CA Final Cracking difficult? Many of you must be thinking that it is difficult. But let me tell you its not so. Its just a matter of effort. Rather I will call it a smar
Complete Audit: A new look at social audit
Abstract It is a Research paper. The purpose of this article is to evaluate the current state of social audit. Analyzed the importance of social audit in every social activity. Universal imperatives of social audit are shown with examples.
Transfer Pricing - Flexing Muscles!
Recently the high court has ruled in favour of the Indian arm of Shell Plc in a tax case that made waves internationally in a transfer pricing case thereby affirming that it is not difficult to do business in India. The highlight is that the revenue
How do we assess the quality of Fixed Asset Record and related Controls?
Internal Financial Controls, under the Companies Act 2013, are Policies and Procedures, adopted by the company for ensuring orderly and efficient conduct of business, and among others, include, Safeguarding of its Assets. Let us see the
Read Balance Sheet in 3 Simple Steps!
If you have been studying Business, Finance, Economics then chances are that you are going to work in these domains. You definitely need to know some basic principles in order to understand & manage the finances better. During an interview for th
Life Of A Fauji: Lessons for Chartered Accountants
Recently I watched a very old TV serial Fauji starring Shahrukh Khan. A lot of you perhaps wont even know that Shahrukh Khan started his career acting in TV serials and then went to the Bollywood. This serial was based on the t
Is KVP a tool to convert black money to white?
Karniti Part 64Is it a tool to convert Black Money into White - Kisan Vikas Patra ?Arjuna (Fictional Character): Krishna, recently the Government has reintroduced the investment scheme of Kisan Vikas Patra. There are many questions rega
FTS u/s 9 of Income Tax Act, 1961
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
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