CAclubindia Articles

Scandal Series: LIBOR Scandal

Vikash Maheshwari 11 May 2013 at 13:31

As a part of my short and quick understanding of financial crisis and scandals that has rocked the nations across the globe, today Ive taken up the LIBOR scandal. Although theres a debate if its a scam/scandal or not, we must

Understanding Reverse Charge Mechanism in Service Tax

CA Priyanka Srivastava 11 May 2013 at 13:31

Service tax is an indirect tax levied by service provider on the service recipient. The service provider collects service tax on bills raised on the service recipient and deposits it into the Government account. Hence the liability to pay service

Importance of Gaining Knowledge About Client's Business

ashish sharma 11 May 2013 at 13:31

In an audit it is important for an auditor to acquire sufficient knowledge about the client's businessthis will not only help him/her express an opinion as to the truth and fairness of assertions in the financial statements but also help him/her safe

About New ITRs for A Y 2013-14

CA Pardeep Chanana 10 May 2013 at 13:18

Form & mode of filling of Income Tax Return for A Y 2013-14 Relevant Sections of Income Tax Act, 1961:- 139(1), 139(3), 139(4A), 139(4B), 139(4C), 139(4D), 142(1), 148(1), 153A All Applicable Return Forms for A Y 2013-14:- ITR 1 (SAHAJ)

Specified Domestic Transaction

CA Pardeep Chanana 10 May 2013 at 13:18

INTRODUCTION Applicability of transfer pricing provisions was earlier limited to International Transactions only. With effect from 01.04.2013, the scope of Transfer Pricing provisions is extended to Specified Do

Investors guide to trade in Nifty

reena sharma 10 May 2013 at 13:18

To deal with stock market an individual must know about Nifty and nifty future. Nifty is basically a termed defined as an index of performance of top companies listed in NSE National Stock Exchange. The NSE India enlists thousands of compa

Changes in Tax Returns filing norms - from F.Y. 2012-13

CA Priyanka Srivastava 10 May 2013 at 13:18

W.E.F. from F.Y. 2012-13, following persons have to file returns electronically: (Vide Notification No. 34/2013, dated 01.05.2013) 1. Every person (not being a company or person filing ITR 7) if Total Income is above Rs. 5 lacs. 2. Resident Indivi

Common Income tax procedures at one place

Saurabh Maheshwari 09 May 2013 at 11:57

In continuation of my previous article, posted almost 2 months back I am writing once again but I am extremely sorry for such a delay but the same was due to some other commitments.Thanks for wonderful response to the first part of

Deduction u/s pension scheme worthy or not as per income tax

CA Prashant Gupta 08 May 2013 at 12:21

Any individual can deposit contribution to Notified Pension Scheme by central Government. If person is employed then his contribution will get deduction u/s 80CCD (1) and employer contribution will get deduction u/s 80CCD (2). Any self employed can

Is it worth becoming a Chartered Accountant

Nimish Goel 08 May 2013 at 12:20

I keep getting so many emails and calls regarding choosing a career option, specifically in relation to chartered accountancy. Obviously, being a CA, I am approached for this profession the most. There