CAclubindia Articles

Service Tax on GTA - A Guide

Posted by Manoj Agarwal 26 November 2013 187236 Views

1. Service Tax - Introduction It is quite surprising to know that unlike other central taxation laws like Central Excise Act, 1944; Customs Act, 1962; Income Tax Act, 1961; Central Sales Tax Act, 1956; etc; there is no specific act like Service Tax A

Calculation of Tax Exemption on LTA

Posted by T E Gautham 25 November 2013 103207 Views

In an earlier post we looked at the conditions governing tax exemption on leave travel allowance (LTA). In this post we will look at the calculation of the tax exemption amount. As mentioned in the earlier post, the exemption is available only on tra

Income Tax Short Notes: A summary

Posted by C.S.SAVEESH.K.V. 23 November 2013 254024 Views

INCOME TAX FOR C.S.EXAM DEEMBER 2013Heads of Income:Income of a person is classified into 5 categories. Thus, income belonging to a particular category is taxed under a separate head of income pertaining to that category. Section 14 of the Act, has

Tax Exemption on Leave Travel Allowance

Posted by T E Gautham 23 November 2013 31732 Views

As a company engaged in the business of payroll processing and statutory compliance related to payroll, we wonder if the tax law governing tax exemption on Leave Travel Allowance (LTA) is among the most complex tax legislations in India. Each year or

Cenvat Credit Rules from scratch Part-2

Posted by Saurabh Maheshwari 23 November 2013 59078 Views

Hello friends, Greetings of the day to you all!!In continuation with the previous article the next part is ready .so lets begin discussing the remaining topics.. The link for first part Q-1 What are the timing, manner a

Inflation Cost - Allowability under Business Head of the Income Tax Act,1961

Posted by Raghavendra Prasad M 23 November 2013 16794 Views

Sri S.S.Tarapore, retired Dy. Governor , Reserve Bank of India, and a popular columnist in The Hindu Business Line, Eenadu dailies time and again requests the RBI authorities to do justice to the poor depositors by payi

Internal Audit and Risk Management

Posted by Ca Jai Prakash Agarwal 23 November 2013 25173 Views

Internal Audit and Risk Management Whether Synonyms or something else. By CA Jai Prakash Agarwal M.Com, LL.B, ACMA, ACA, ACS, DISA (ICAI), DIRM (ICAI), UGC NET What is Risk Management? Risk management once a jargon has become a much kno

Right Issue - Practical Aspects

Posted by CA Chiranjiv Kumar 23 November 2013 24476 Views

What will be the effect on issue of right shares? Why it is not issued in market directly? Will the shareholders be at any profit/loss? Let us move by defining it and the case onwards.What is right issue of shares?Right shares are simply the shares i

Different Committees as per the Companies Act, 2013

Posted by Vandana J Doshi 21 November 2013 69351 Views

The historic Companies Bill which had received the Presidents assent on 29th August, 2013 became the Companies Act, 2013, (hereinafter the new Act) by notification in the Official Gazette, on 30th August, 2013. Furthermore, the M

Making Money out of Forex and IR Swaps

Posted by CA Chiranjiv Kumar 20 November 2013 27127 Views

Arbitration in ForexArbitration in forex is the possibility that the profit can be made out of exchange trading on the basis of forward rate and prevailing interest rate in 2 different countries.Profit can only be made if returns made by borrowing fr