CAclubindia Articles
Do You Do Your Regular Financial Check-ups?
Just start the financial check-up: Noel Whittaker said, Life is full of uncertainties. Future investment earnings and interest and inflation rates are not known to anybody. However, I can guarantee you one thing.. those who put an investm
Service Tax For CA Students - Returns
I.STATUTORY PROVISIONS IN SERVICE TAX LAWS Section 70 of Finance Act, 1994. (1) Every person liable to pay the service tax shall himself assess the tax due on the services provided by him and shall furnish to the Superintenden
Exemption from Service Tax
Section 93. Power to grant exemption from service tax. (1) If the Central Government is satisfied that it is necessary in the public interest so to do, it may, by notification in the Official Gazette, exempt generally or subject to
Introduction to Service Tax Legislation
I. CONSTITUTIONAL BACKGROUND Article 265 of the Constitution of India read as: "No tax shall be levied or collected except by authority of law" This implies that the Government (whether central or State) can levy tax o
Service Tax for CA students - Basics, History & Administration
I. TYPES OF TAXES. Taxes can broadly be classified into two categories: (a) Direct Taxes: Direct Tax means a tax on property in respect of ownership, possession, or enjoyment of property. Direct taxes are those, which the taxpayer p
Is Dual Qualification a Guarantee for professional success
Dear Friends, One of old Caclubindia member asked me 2 queries as listed below. As per my understanding there queries are very important for career point of view and many aspirants can identify themselves with the given questions. Hence I thought
Supreme Court Partial Stay on Service Tax on 105(zzzz)
The service tax is dealt with the finance act and is the levy which is not having own act. The task of administartion is entrusted to the Central Board of Excise and Cutoms.When the service tax imposition was first ever started in India no body have
All you wanted to know about Mutual fund ELSS
There are so many tax saving investment options; how Mutual fund ELSS Schemes stand out from all other options? A Mutual Fund ELSS is similar to diversified equity funds. That means the fund manager can invest in shares of various companies across
Understanding Transfer Pricing with Latest Case Laws : Part 2
Now a days, during transfer pricing assessment , the TPO are coming with unique ideas like valuation of intangibles , corporate guarantees, ratings provided by CRISIL etc. this all leads to corporate in a mysterious situation. Below are the summ
Section 54F - Undesirable provision from an economic perspective
Before I delve into my topic of discussion, let me give a short brief about section 54F of the Income Tax Act 1961. Section 54F deals with exem
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