CAclubindia Articles

A note on Removal of Directors!

Posted by Ankur Garg 22 March 2012 49038 Views

Dear Students, Some time back I had started a series of small articles covering a particular exam oriented topics, where my focus was to choose topic useful for exam preparation. So I would request you all to please take note of the same as the

Reverse Charge Mechanism in service tax-more clarifications

Posted by Amit Bajaj 22 March 2012 123113 Views

In the Budget-2012-13 under the new Reverse Charge Mechanism in certain services the recipient of the service has been made liable to pay tax instead of service provider. In three of services namely hiring of means of transport, construction and

Buying Online Term Plan? Few Tips to Follow

Posted by Prof. Bajaj 22 March 2012 20180 Views

Nothing doing! Now no agent can fool me saying that endowment plans or ULIPs are good. I have understood that only term plan is the best form of risk cover. I am going to buy a term plan online. Said Niraj, a 29 year old IT profess

Lump sum scheme for payment of service tax in works contract

Posted by Amit Bajaj 21 March 2012 35459 Views

In works contract service lump sum scheme for payment of service tax in a works contract has been introduced by amendment in Rule 2A of the Service Tax (Determination of Value) Rules, 2006 vide Notification No. 11/2012 - Service Tax dated 17-03

Are Director Liable to Tax Audit & Service Tax as per Budget

Posted by CA Prashant Gupta 21 March 2012 35433 Views

ARE DIRECTORS LIABLE TO SERVICE TAX AND TAX AUDIT AS PER UNION BUDGET 2012-13 ? Till the date of budget, there is always confusion on treatment of directors remuneration. There is conflict about whether it is salary income or it is a bu

Internal Audit Basics

Posted by CA Satish Badve 21 March 2012 59269 Views

Internal Audit Basics The

Long and Strong performance in CS and other Exams!

Posted by Ankur Garg 20 March 2012 15346 Views

Hello Friends, As per my personal understanding for a long and strong professional career the foundation of your study should be very strong. I can say this because of my in-depth study of Institute Study Material. Dangerous Reality: Somewhere

Proposed income tax amendments in Budget 2012-13-Part-2

Posted by Amit Bajaj 20 March 2012 104954 Views

Consideration in excess of F.M.V of shares to be treated as income from other source if consideration received is in excess of Face Value of shares: It is proposed to insert a new clause (viib) in the aforesaid sub-section so as to provide that w

Vodafone 'Refund' Amendment - Possession is 9/10th of the law

Posted by ANANDH SUNDAR 20 March 2012 8294 Views

The Budget of FY12-13 dropped a tax bombshell by introducing a retrospective change in law from 1962, directed at Vodafone and other simillar cases. While my esteemed seniors will doubtless analyze or litigate this change in law, I thought it fit to

How Much "Convenience Tax" You are Paying?

Posted by Prof. Bajaj 20 March 2012 8620 Views

"Convenience Tax? When was this tax imposed? Government has no other business than to impose new taxes everyday?" might be a normal reaction after reading the title. Well, the good news is, this tax is not really levied by the Go