CAclubindia Articles

Constitutional (97th Amendment) Act, 2011

Posted by Member (Account Deleted) 20 December 2012 58541 Views

[1] Cooperative societies is a state subject under Entry 32 of the State List of the Seventh Schedule of the Constitution. All states have accordingly enacted their own Cooperative Societies Acts for incorporation, regulation and winding up of c

Service Tax on supply of food at Restaurants

Posted by saurabh jain 20 December 2012 81725 Views

Service tax on Supply of food at Restaurants It is said that some things which seem to be very authentic may not be always correct. This is same which is happening with issue of Service tax on supply of food in restaurants. Internet is equal f

All about Depreciation

Posted by Prince Kumar Baranwal 20 December 2012 77510 Views

What is depreciation? Depreciation as per law of lexicon is defined as positive decline in the real value of a tangible asset because of consumption, wear and tear or obsolescence. The concept of depreciation is widely used for the purpose of writin

Penalty under Rule 27 for Technical Lapses? No Way

Posted by D R Pandit 20 December 2012 61693 Views

Rule 27 of Central Excise Rules 2002, is generously used for penalizing technical lapses. Many subscribe to the view that when penalty is imposed under Rule 27 for say, delayed filing of Returns, the penalty is payable. With due respect to all those

Deemed Dividend

Posted by KARTIKEY 18 December 2012 72983 Views

DEEMED DIVIDEND Deemed dividend under section 2(22) from an Indian company or any dividend from a foreign company is taxable in the hands of shareholders under the head Income from other sources, regardless of the fact whether shar

Cases on Income Tax decided by Supreme Court and High Courts

Posted by Raju S Narayanan 18 December 2012 43668 Views

Some of the case laws on Income Tax decided in the month of Nov2012: 1. Where assessee continued his employment with the firm, and was also given commission under Non-Compete Agreement ('NCA') for doing what he was normally ex

When to start planning for retirement?

Posted by Ramalingam K 17 December 2012 13036 Views

A question to be questioned: When a person should become health conscious? After becoming sick or before becoming sick or always There are some questions like this, though at the sub-conscious level we know the answer, our conscious mind s

The Role of short term sensations in the long term investment

Posted by Ramalingam K 17 December 2012 6602 Views

In the digital age, the current affairs reach our living room 24*7. The power of internet and social media makes the news and rumours spread like a wildfire. Because of this information overload we become so focused on details that we begin to ignor

Prosecution & cheque dishonour - New View

Posted by v. srikanth 17 December 2012 18044 Views

Section 138 of the Negotiable Instruments Act, 1881, deals with the consequences of dishonour of cheque for insufficiency , etc., of funds in the account. The provision provides for punishment with imprisonment for a term which may extend to 2 yea

Section 50C - A detailed analysis

Posted by Kailash Mehta 17 December 2012 151407 Views

Applicability of Section 50C to sale of immovable property by Builders and sale of immovable Property in block of assets. 1. INTRODUCTION: The generation of black money is major problem in India. Various committees were formed and number of suggesti