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House Rent Allowance (HRA) Vs. Rent Free Accommodations (RFA)
House Rent Allowance (H.R.A.) results in tax savings because accounting under Income tax act is direct exemption based. However, accounting of Rent Free accommodation is valuation based taxation and added to total income of employee presumptive basis
Ethical corporate governance
The quality of corporate governance is also determined by the manner in which top management, particularly the Board of Directors, allocates the financial resources of the company as between themselves and other interest groups such as employees, cus
How to prepare financial reporting by rankholder
Hello FriendsI am CA Manoj Kumar Bothra (all India Ranker in May 2014 Exam). I am here to discuss how to prepare financial reporting (CA Final). I think that you have gone through my article How to crack CA Final in first attempt, if no
COBIT: An IT Framework
Introduction :- CONTROL OBJECTIVE FOR INFORMATION AND RELATED TECHNOLOGY (COBIT) Cobit is a comprehensive IT framework from ISACA which was launched in 1996. It provides guidelines for auditing of information system for auditors. COBIT has revised t
Action plan of CBEC to evolve non-adversarial indirect tax administration
The CBEC has issued an instructions vide letter F. No. 296/185/2014-CX.9 dated September 30, 2014 to all CCs and DGs on its action plan to evolve Non-adversrial indirect tax administration for the benefit of trade, industry and other stakeholders, wh
10 Common Sense yet confusing questions regarding CV / Resume
A cv or resume is the most important document that will help you to get the best job offers. While many are strong and sound on academic and presentation front, still they feel confused when it comes to CV and resume. Questions of myriad type arise i
Equity linked saving scheme (ELSS) - The best tax saving tool
WHAT IS AN EQUITY LINKED SAVING SCHEME (ELSS)? ELSS is a popular mutual fund scheme that allows you to take exposure in the equity market, while simultaneously serving as a tax-saving product. It is a type of mutual fund which invests majority of its
Loan to director
It is applicable to both public and private limited company. No Company shall directly or indirectly advance any loan, including any loan represented by a book debt, to any of its Directors or to any other person in whom the Director is interested, o
Exponential Rise in Rate of Interest of Service Tax
Karniti Part 57 In October Heat Exponential Rise in Rate of Interest of Service TaxArjuna (Fictional Character): Krishna, October months heat has started. In this by increasing rate of interest of service tax from 1st October 2014 the departme
How to deal with stock market losses
All money decisions are emotional. No matter how much to know at the time of the decision, things change very quickly and your emotions are always with you for the ride. Most people dont know what to do w
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