CAclubindia Articles
Receiving "GIFT" a costly affair????
CA. Rayan Sequeira 06 October 2007 at 16:15Our ex-Miss Duniya, Mrs. Cashwarya Bachpan got a GIFT of Rs.25 crores from Mr. Amitaap Bachpan on the occasion of her wedding bells with the Dollywood heartthrob Kabhi-shake Bachpan. Bachpan family had already been in news due to the various notices
Taxing Job Work
CA. Rayan Sequeira 06 October 2007 at 16:15The Indian Taxation system is spreading its wings so wide that it is hard to find a trading or service activity not falling under the ambit of indirect taxation. However the Government has encouraged small enterprises like job workers, to operate on
Exposure draft on AS 12
CA. Rayan Sequeira 06 October 2007 at 16:15The Institute of Chartered Accountants of India (ICAI) has come up with the exposure draft on AS 12(revised). AS 12 (exposure draft) deals with accounting for Government grants and disclosure of Government assistance. AS 12 deals with the accounting
Professional Ethics - An Introductory Course in Value Education
CA. Rayan Sequeira 06 October 2007 at 16:15Ethics generally means the science of conduct or morality. Ethics are a blend of customs and cultures followed by people and are important in all kind of work we do, be it business or profession.Equally it applies even to our profession and we cannot
SUPPORTIVE E- GOVERNANCE
CA. Rayan Sequeira 06 October 2007 at 16:15No one can deny that the prosperity of a country largely depends on prosperity of its corporate world and the prosperity of its corporate world is facilitated through a simple and hassle free Company Law and its Practices. Unless comprehensive e-gove
You can have the cake n eat it too..
CA. Rayan Sequeira 06 October 2007 at 16:15How about getting bonus without having to pay up any tax on it? Sounds interesting. Wondering whether it can be possible? Perhaps, you have not heard of Bonus Stripping. What might sound, as Bonus extravaganza in layman's term is "Bonus Stripping" un
Service Tax on Works Contract and Renting of Immoveable property - An Analysis
CA. Rayan Sequeira 06 October 2007 at 16:151. Works Contract Service The insertion of the new category 'Works contract Service' has brought in the service component involved in the execution of works contract liable to service tax where the transfer of property in goods is liable to sale
Nitty-gritty of Service Tax
CA. Rayan Sequeira 06 October 2007 at 16:15Service Tax is an indirect levy of tax. Chapter V of the Finance Act, 1994 was inserted in order to tax Services in India. Today nearly 107 services are taxable out of which 7 are the additions in the recent budget. Another 44 services are in the str
Accounting for Employee Stock Option Plan [ESOP]
CA. Rayan Sequeira 06 October 2007 at 16:15Securities and Exchange Board of India issued ESOP guidelines in 1999. The idea behind this was to reward and motivate employees for their commitment and hard work. SEBI defines employee stock options as ¡§option given to the whole-time directors, of
AUDITORs AUDIT - A PEER REVIEW
CA. Rayan Sequeira 06 October 2007 at 16:15In the Parliament there is an opposition party to ensure that the government carries out its functions in concurrence with the guidelines of the constitution. The opposition examines the endeavors of the government to make certain that they are desig
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