CAclubindia Articles

Suggestions to control black money

Posted by ramesh 26 February 2012 33251 Views

How to control black money:- 1. Ensure that even petty shop people deposit their cash sales in to a bank account (account opening should be simple & easier) 2. Integrate sub registrar office, sales tax and service tax departme

Tax Invoice defined in Value Added Tax Act

Posted by Third Eye Advisory 26 February 2012 50149 Views

Tax Invoice Section 86 One of distinguishing features of VAT Act is the provision for Tax Invoice. There can be two types of sale invoice; Tax Invoice and other than Tax Invoice; i.e., bills, normal in

Reconciliation in professional life

Posted by CA PARAS BAFNA 26 February 2012 10701 Views

BRS ( BRS is used for Bank Reconciliation Statement. However; see how CAs utilize this concept in their professional life ). Scene 1. . Seminar on Bank Audit ( Lunch-Break ). . Mr. Sen and Mr. Jain : Two practising CAs. M

New tax slabs expected in Budget 2012 by CA Sudhir Halakhandi

Posted by CA Sudhir Halakhandi 25 February 2012 21725 Views

The most interesting part of the Budget-2012 is going to be the Limit for Individual Taxation and there is a hope for individual Taxpayers to get a very good response in this respect from the Finance Minister Mr. Pranab Mukharjee. This aspect of the

Exemption from Filing Income Tax Return

Posted by Kapil Dev Sanghai 24 February 2012 24608 Views

The Central Government has exempted certain class of persons from filing the income tax return subject to following condition: 1. Assessee should be individual 2. Income does not exceed Rs. 5 Lac 3. Income is chargeable under Salaries Intere

Corruption beneficial to professionals?

Posted by CS Nadeem Ahmed Siddique 24 February 2012 8726 Views

Corruption a buzzword in todays society has found its place on every tongue, but is rather bitter in taste. Each day corruption is striking hard on the economy, some social activists are trying to curve the corruption but the fa

Immoral/Illegal/Against public policy-yet taxable or tax deductible in India

Posted by ANANDH SUNDAR 24 February 2012 7471 Views

During my study of both direct tax and indirect tax law, I saw quite a few instances where although the activity in question was illegal or prohibited, that fact was not considered for the purpose of tax law. That does seem a bit strange that tax la

Accounting Frauds

Posted by Vijay Kalia 24 February 2012 20896 Views

MANIPULATIONS THROUGH ACCOUNTING AND FRAUDS: Introduction: India figures amongst the top nations so far as stashing the black money abroad is concerned. It is estimated that one fifth of our GDP is there running parallel in the economy which transl

Positiveness - A way of life (Part I)

Posted by nitin suvarna 24 February 2012 12643 Views

Hello friends, this is my first article for CCI. I had been wishing & wanting to write one so here I am writing it. Before registering for CA course ,I had heard so many things about it( difficult one ,little expensive ,need to be smart &

Beware of your Banker!

Posted by Prof. Bajaj 23 February 2012 12317 Views

Welcome Mr. Mehta, What can do I for you ? said Jenny, a relationship manager working with a leading private sector bank, to the bank customer Mr. Mehta, who himself is a tax consultant. I just wanted to deposit these cheques