CAclubindia Articles

Late Fee and Penalty for delayed filing of ST-3 Returns

Kaustubh Ram Karandikar 05 August 2011 at 14:39

Late Fee As per provisions contained in Section 70 of the Finance Act, 1994, a person liable to pay Service tax

Minor / Minority and capacity to contract - An analysis

Alok Rudra 04 August 2011 at 14:43

Under Section 11, a minor is a person who has not attained the age of 18 years. The age of the majority of a person is regulated by Section 3 of the Indian Majority Act, 1857.

NRI's can't claim concessional tax rate u/s 115H for interest

CA. Anuj Gupta 03 August 2011 at 12:19

Recently Madras High Court in the case of Dr. M MANOHAR(Appeal No 759 of 2004) decided an important question Whether the interest on the deposit made out of the interest income also qualified for concessional rate as the investment income de

GST: Impact on the Poor

Nagesh Bajaj 03 August 2011 at 12:19

GST is a destination based consumption tax. Consumption taxes are regressive in nature. It increases the gap between the rich and the poor.

Inventory write downs vis-a-vis Rule 3 (5b) of CCR

Manoj Pala 03 August 2011 at 12:18

Inventories are measured at the lower of cost or net realizable value (NRV). If the NRV falls below the recognized costs pf an inventory item, the respective inventory items must be measured. Inventory write-downs should reflect the estimated loss i

SARFAESI Act'2002: Boon For Banks Curse for Borrower

CA. Vikash Dwivedi 03 August 2011 at 11:37

THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSESTS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 SARFAESI Act, as the name of the act suggests, deals with 3 matters: Securitisation [Sec 2 (1) (z)] Reconstruction of Financial Asset [Sec

" 7 Days to go " - Go for it guys

SANYAM ARORA 03 August 2011 at 11:36

A Very good Evening to all the members of CCI Family............................!!!!!!! Today I want to speak something very special for all the students of PCC/ IPCC STUDENTS. So friends just 7 D

Judicial Pronouncements

khushbu darak(CWA) 03 August 2011 at 11:36

Some More Important judicial pronouncements under Service Tax 1. Whether erection and Commissioning of tower parts through engagement of employees shall be termed as Manpower Recruitment and Supply Agency Services? Facts: Sh

CA is not my dream?

*RENU SINGH * 02 August 2011 at 11:41

This is a big question to those who dont want to be CA, but still enrolled themselves into it. Sorry its not a question its a situation. Because this question starts when a person starts its study

Can NRI/PIO Claim Exemption on Transfer of Bonus Shares

CA. Anuj Gupta 02 August 2011 at 11:41

We all know that cost of Bonus shares is NIL as per sec. 55(2)(aa)(iii) of the Act and in normal circumstances , the gain on transfer of Bonus shares shall be fully taxable in the hands of seller. However , Income Tax Act