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Hedging Loss on FC Forward Contract not Speculation Loss
TAX FLASH: CIT v Friends And Friends Shipping Pvt Ltd. - Gujarat High Court S. 43(5): Loss on foreign currency forward contracts by a manufacturer/ exporter is a hedging loss and not a speculation loss FACTS OF T
Highlights of Companies Bill,2011
The Bill has 470 clauses and 7 schedules as against 658 Sections and 15 schedules in the existing Companies Act, 1956. The entire bill has been divided into 29 chapters. Following chapters have been introduce
Company Secretary & Chartered Accountant - The Difference!
For all those who are still confused about the difference between a company secretary and a chartered accountant: this article would help you in understanding the difference. Many people often get puzzled when they hear about these two terms. Well,
Best Practices - Reply to SCN
The service tax law has resulted in a large number of disputes [ more than 1 lakhs + pending as on date] mainly due to the fact that the law is changing frequently and drafting has been seen to have many loose ends. The trigger happy attitude of so
Detailed analysis of new TDS Section 194IA
w.e.f 01/06/2013, new TDS section brought into effect for deduction of tax while making payment for purchase of immovable property other than agricultural land in rural area in India- Following are the conditions and operational mechanism- (1) T
A few aspects of applicability of Tax audit
The voluntary tax compliance by the taxpayers considerably widened after the insertion of tax audit under section 44AB in the Income-tax Act, 1961 by the Finance Act, 1984. An important revision to Tax Aud
Cenvat Credit on services of commission agents
CENVAT CREDIT ON SERVICES OF COMMISSION AGENTS: A COMMON ISSUE WITH CONTRARY DECISIONS Introduction: Cenvat Credit has been a highly sensitive issue since its inception. The assessees always attempt to avail credit of every possibl
Journey of my CA life
Writing about ones journey of life is never easy. You dont know where to begin and where to end. Life is full of precious moments and its a daunting task to recollect all the memories and express in words. Never though I attempt
Place of Provision of Service - Including Issues
Introduction Under earlier method of taxation (positive list based) the services which were provided in India were taxable, without any distinction of f
Lessons of life - hard work
Lately, after exams, its been a time for reflection and self introspection. Though I do this often, it never really gets repetitive. The novelty doesnt wear off in as much as I get to learn something new each time I do it. The bone of
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