CAclubindia Articles

Life Of A Fauji: Lessons for Chartered Accountants

Posted by Nimish Goel 25 November 2014 32507 Views

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

Cash flow statement and its usefulness

Posted by CA N RAJA 22 July 2016 35832 Views

MANU CONVERSATION BETWEEN MANU AND VINU ABOUT CASH FLOW STATMENT AND ITS USEFULNESS VINU Manu Hi Vinu! How are you? Vinu Fine Manu! Man

Is KVP a tool to convert black money to white?

Posted by CA Umesh Sharma 24 November 2014 32108 Views

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

Posted by CA Nischal Agarwal 22 November 2014 31604 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 47421 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 80294 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 30921 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 23125 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 46217 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 925430 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)