CAclubindia Articles

Section 68 of Income Tax Act 1961

Amit Bajaj 19 May 2011 at 13:17

According to section 68 of Income Tax Act 1961, where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source of the same or the explanation offered b

Growing consumption a bane for India - Cost Management

CMA.Devarajan Swaminathan 18 May 2011 at 13:45

Growing consumption a bane for India - Chandran Nair.I was reading this interview that appeared in the Economic Times, Mumbai Edition today with great interest. "Author and think-tank founder Chandran Nair is a second-generation Indian-orig

Export of Service

Sunil Singh Thakur 18 May 2011 at 13:18

Service Tax as its name suggests is a tax on services. Service tax in India is regulated by a statute which is exclusive in nature. In other words, it does not bring to tax all the services but only those services which are expressly included in t

Articleship - The Goldmine

Gaurav Arya 18 May 2011 at 13:00

ARTICLESHIP THE GOLDMINE As per Income Tax act, a long term asset is that asset which is held for more than three years. And this long term asset, if sold Capital Gain is taxable @20% flat rate. Friends articleship period in CA course is

What if there is nothing called as Interest?

Fahim 18 May 2011 at 12:59

This question should have come in the minds of a large number of entrepreneurs more often than not. By interest what I mean is the excess money a borrower has to pay to a lender for a period for having borrowed a certain amount of mo

Be A Good Communicator!

BAIJU MASOODU 17 May 2011 at 13:37

COMMUNICATION SKILLS Part II (TECHNIQUES) Please read Part I of this series posted on 28/04/2011 in career (COMMUNICATION SKILLS- it really matters) I dont know English grammar. This is the usual complaint of people w

Striking Off Name of Company

CS Bijoy 16 May 2011 at 12:29

STRIKING OF NAME OF COMPANIES INTRODUCTION: On incorporation of a company a certificate of registration is issued from the government of India with the condition that the company has come into existence from the date of registration and the name o

Service tax on representation services by CA

CA Rohit Gupta 16 May 2011 at 12:29

Finance Act, 2011 made the services rendered by legal firms taxable. And with this also rescinded the notification no. 25/2006 vide notification no. 32/2011 which exempted the representation services provided by CAs and CS to their clients. The noti

Issue of TDS Certificate

Muralidharan 14 May 2011 at 12:27

13th May 2011 Dear Forum Members We are all aware that those who deduct TDS has to issue TDS Certificate (Form 16A) for every quarter. This is applicable from the financial year 2010-11 onwards (Assessment Year 2011-12). This has put an additional b

Presumptive Taxation | An analysis

Sathya Sankeerth K N 14 May 2011 at 12:27

PRESUMPTIVE TAXATION Presumptive taxation involves lump sum levies on certain small-scale business activities to whom Section 44AB is not applicable. Thus Sections 44AD, 44AE and 44AF of the Income-tax Act, 1961, provide for estimating the income