CAclubindia Articles

The Bermuda Triangle mystery created by Negative List

Posted by Pradeep Jain 09 July 2012 19276 Views

Introduction:- After six years of uncertainties, finally section 66A of the Finance Act, 1994 has few more days to survive. 1.7.2012

Currency Translation Reserve

Posted by Sanjay Chauhan (IFRS) 09 July 2012 76893 Views

A. Objective: This topic covers accounting for non integral operations under AS 11 in specific and its comparison with IAS 21. B. Back Ground: With the intent to Go Global, Indian entrepreneurs are now expanding their business focus in variou

Works Contract - Negative List - Unanswered Questions

Posted by Pradeep Jain 09 July 2012 58633 Views

Introduction:- Service tax on Works Contract was introduced on 1.6.2007. Starting with an attractive rate of 2% service tax on the co

Service Tax Liability on Sub-Brokers

Posted by CA Prateek Kr. Agarwal 09 July 2012 50113 Views

Please note that Sub-Brokership and service as an authorised person to a member of a commodity exchange is not covered under negative list, instead it is covered under Mega Exemption notification 25/2012 dt 20-06-12. Hence, one need to first get re

Open a Winning Account: ACE The CA

Posted by Aniket 07 July 2012 19201 Views

An expanding economy along with complex regulations has led to a demand in the business world for expert advice. In the pecking order of finance, Chartered Accountants (CAs) rank at the top as managers, consultants, bankers and tax advisors. Break

Analysis of Declared Services, Exemptions, Abatements

Posted by Madhukar N Hiregange 06 July 2012 88313 Views

Foreword With Effect From 1st July 2012, the CBEC has proposed and the Parliament has passed the switch from an ad hoc system of selecting services to tax, to a negat

Proper Articleship

Posted by Madhukar N Hiregange 06 July 2012 111003 Views

IMPORTANCE OF PROPER ARTICLESHIP The Chartered Accountancy course in India is amongst the best of its kind in comparison to the courses offered in other countries. Also, it is rated as one of the most difficult professional courses among all other s

Corporate accounting reporting and ethics need for CAs

Posted by Srikanthan 06 July 2012 10610 Views

Corporate accounting and reporting and Ethics Need for Chartered Accountants to introspect Introduction All around us there is this talk of lack of ethics , corruption, inability of a normal Citizen to get justice in time , so on and so for

Input Tax Credit - Reversal/Reduction

Posted by Devinder Jain 05 July 2012 994160 Views

Some may develop a feeling of renunciation on achieving the age of 60 years, I on attaining the age of 60 years feel thankful to the society for whatever love and affection they have given to me, and think this is the time, I must try, whatever lit

Valuation & Reverse Charge for Construction Industry

Posted by CA.Manindar Kakarla 05 July 2012 49105 Views

NEW VALUATION & REVERSE CHARGE MECHANISM RELATING TO CONSTRUCTION INDUSTRY INTRODUCTION: We have discussed in my previous article about the changes in the applicability of service tax relating to construction industry. In this article,