Bad debts are such debts which are not recoverable. Doubtful debts are such debts which are suspected to be recovered. As per judgment of TRF Limited vs. CIT (Supreme Court). Bad debts need not be proven to be irrecoverable u/s 36(1)(vii). It
At present, most of the sales tax/value added tax enactments have a provision which requires an assessee to deposit the entire amount of tax or a portion of the disputed tax, as an admission fee before filing appeal. An assessee, th
The issues associated with the entry of mega firms in retailing are often discussed from the perspective of the cons
Accounting of Investments using Tally I am pretty sure that many of the readers who clicked to view this post have some interest in investments. This article is all about shares and mutual funds and accounting for it using tally. I would like to
CAGs Cannot Be Cheer Leaders Very recently, Indias national auditor has said the government should not expect it to be a cheerleader for all of its actions. Comptroller & Auditor General Vinod Rai took the opportunity of addressing his se
Date 10/08/2012 VAT On Builders / Developers in the State of Maharashtra Recent Developments & Methods of computing VAT Liabilty
Disallowance of Expenses in Computation of Profit and Gains of Business or Profession Part - I Section 40(a) of Income Tax Act, 1961 Purpose: Disallowance of expenses for computing income u/s 28 of Income Tax Act, 1961. Applicability: All assesses
IMPACT OF FDI IN RETAIL IN INDIA Analysis of FDI impact in INDIA M.MUTHU KUMAR The main objectives of this paper are to analyse the impact of recent opening of
Investors who have invested on site/land have many options. One is to retain and wait for good capital appreciation. Another option is to construct a building. For construction owner
INTRODUCTION Worldwide, the micro and small enterprises (MSEs) have been accepted as the engine of economic growth and for promoting equitable development. The MSEs constitute over 90% of total enterprises in most of the economies and are credit
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