CAclubindia Articles

Understanding section 28 with latest case laws

Posted by Manish Kumar Agarwal 23 December 2011 75768 Views

The usage of section 28 to justify any expenditure or loss is rarely found. We try to substantiate the same under section 36 or 37 and sometimes not able to get the deduction due to limitations and conditions laid down in that section. Thats

DTC not Tabled - Indian Slowdown

Posted by Indraneel Sen Gupta 22 December 2011 9871 Views

The much awaited Direct tax code is being delayed further as the chances of Parliaments standing committee on finance submitting its report on the Bill in the ongoing Winter Session, which concludes on December 23, are bleak. With barely

Exemption From ITR Filing : A Mirage ?

Posted by Prof. Bajaj 21 December 2011 32253 Views

Phew !! Thank God (and thanks to Pranav Babu) I dont have to file ITR this year. It is such a painful process, Said Ajay Dixit, a 27 year old BPO Executive to his friend Kapil. And how did you arrive at this conclusion,

How CA Profession Changed in 2011 Part-II

Posted by ANANDH SUNDAR 20 December 2011 42230 Views

After my earlier article(http://www.caclubindia.com/articles/how-ca-profession-changed-in-2011-11847.asp) got a favourable response, I thought of writing a followup, now that we are at the end of 2011, with lots of economic uncertainity ahead. My ea

Definition of Capital as per Company Bill, 2011

Posted by AMAN JAIN 20 December 2011 12744 Views

Definition of Share capital and debentures in Company Bill 2011 Equity share capital has now been defined as: Equity share capital, with reference to any company limited by shares, means: all share capital which is not prefere

Major Amendment regarding Share Application Money

Posted by RG - A Helping Hand 20 December 2011 180614 Views

Dear Professionals Colleagues, It is my humble effort to update you all regarding a very important amendment in Corporate Laws through MCA Notification dated December 14, 2011. Ministry of Corporate Affairs has vide its notification dated 14.12.20

RBI Governor critiques ICAI on CPE, rent seeking, delegates

Posted by ANANDH SUNDAR 19 December 2011 16060 Views

Its a habit of mine to read speeches by RBI Governor/Dy Governors to glean some insights into their way of thinking, and also generally to know what issues are generally concerning the economy. And while reading the RBI Governor's speech on Chal

Basic Steps involving to install the Costing system

Posted by CMA Ramesh Krishnan 19 December 2011 76972 Views

Introduction: Costing system is an important tool for Cost control and cost optimization in any type of organization. Each industry has got different type of cost involving in to the operations,

All about XBRL

Posted by CS GURVINDER SINGH 19 December 2011 22763 Views

INTRODUCTION XML stands for extensible markup language. Extensible means language that can be extended by anyone who wants to create additional ways to use it. Markup means that XMLs primary task is to give definition to text and symbols. Lan

Position of "Auditors" under "Companies Bill, 2011"

Posted by GAURAV SHRAWAGI 17 December 2011 37914 Views

Every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its sixth annual