CAclubindia Articles
Special Reserve created under section 36(1)(viii)
Special Reserve created under section 36(1)(viii) of the Income Tax Act, 1961 and Deferred Tax Liability on it.As per section 36(1)(viii) of Income Tax Act 1961 in respect of any special reserve created and maintained by a specified entity, an amount
Residential status and foreign income tax treatment
Hi friends,If you are individual and have foreign income. You must become aware of tax treatment of foreign income.In this article, I have explained how to determine residential status for individual and tax applicable as per residential status.Know
Incorporation of a Company limited by shares
Moving from the Companies Act 1956 to the Companies Act 2013 is like shifting from your old house to a new one. In the old house, where you have stayed for years, everything would have found its own place the shoes, the clothes, umbrella, fir
Why Chartered accountants can be the best entrepreneurs
Few people on the face of this earth have the mojo to change it forever. Since the dawn of industrial revolution, entrepreneurs have given maximum benefits to the society. No risk, no gain has been and will always be the mantra of success in life.Be
Tax audit under income tax and cost audit: Correlation & new amendments
Ensure the review of Cost Audit Reports (CAR) for the year 2013-14 before filing of Tax Audit ReportsCMA Navneet Kumar Jain Any organization has to undergo many audits like
Shifting of registered office from one ROC to another ROC within the same state
Procedure for Shifting of Registered Office from the Jurisdiction of One ROC to another ROC within the same State Dear All, In my previous 2 articles of this series titled Procedure for change in Registered Office we had discussed abou
Money Laundering in India
Hi all, Let us start from definition of Money laundering defined under Prevention of Money Laundering act, 2002 & with some insights about its impact on economy. Definition of Money Laundering:- Money laundering involves disguising financial asse
CLSS, 2014 - One time pending annual filing opportunity for Corporates
COMPANY LAW SETTLEMENT SCHEME One time opportunity for companies to seek relaxation on filing fees for pending annual filing forms The Ministry of Corporate Affairs has announced the Company Law Settlement Scheme, 2014 (CLSS, 2014) vide its General C
A Birds eye view of Advance tax provisions embedded under Income-tax Act, 1961
What is advance tax? U/S 208 Advance tax shall be payable during a financial year in every case where the amount of such tax payable by the assessee during that year, as computed in accordance with the provisions. Who is liable to pay advance tax? &
Procedure & requirement of appointment of MD for private limited company
Appointment of Managing Director, Whole- Time Director OR Manager (Section: 196): This Section is applicable on Both Private as well as Public companies. Only this section of Chapter-XIII applicable on Private Companies. At the time of practical wor
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