CAclubindia Articles

BANK AUDIT NORMS ::

CA.Saibaburao Nanduri 24 August 2007 at 16:02

Implementation of revised empanelment norms for appointment of statutory auditors of public sector banks select all India financial institutions & RBI.CLARIFICATION AS REGARDS THE MEANING OF THE TERM 'AUDIT STAFF' ISSUED BY RBI The Reserve Bank o

Complications and Facts of Accountancy

CA Nikita 23 August 2007 at 18:09

With the opening up of the real-estate industry, there has been an increase in Foreign Direct Investment (FDI) in the sector. According to a report by property consultants Jones Lang LaSalle, an estimated $10 billion foreign investment is expected to

Tax filing isn't easy in India!!

CA Nikita 23 August 2007 at 17:05

The month of July is associated with the time for filing returns of income by individual taxpayers. The government has recently notified new forms for filing income tax returns. These forms replace the old ones. Any person planning to file her return

Wealth-tax (First Amendment) Rules, 2007

CA Nikita 22 August 2007 at 18:59

Wealth-tax (First Amendment) Rules, 2007 - Amendments in rule 4A, substitution of rule 4AA and Form DA; insertion of Form DAANotification No. 216/2007 [F. No. 142/11/2007-TPL], dated 7-8-2007In exercise of the powers conferred by section 46 of the We

Draftsman dividing a house

CA Nikita 21 August 2007 at 17:07

Two issues come up routinely for debate in the context of housing-related tax benefits. Section 54 of the Income-Tax Act, 1961 spareslong-term capital gains from transfer of a residential house fromtax if at least such gains are ploughed back or roll

Tax Planning for the Self-Employed

Mr. PURNA P 17 August 2007 at 05:17

Tax Planning for the Self-EmployedSelf-employment . . . the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you're self-employed, you'll need to pay your own FICA taxes

AIR DETAIL IN ALL NEW AIR FORMS

RAJAN GUPTA 14 August 2007 at 11:13

AIR(ANNUAL INFORMATION REPORT) DETAIL IN NEW ITR FORMS WHAT TYPE OF ENTRIES TO BE REPORTED.In all the new ITR(Income Tax Return) forms an information about following transaction has been demanded.And what i observe that person are normally ignoring t

Belated Returns

Late CA Sampat Jain 14 August 2007 at 06:52

Author/s :Pradip KapasiGautam NayakChartered AccountantsTopic :Return of income filed beyond time1. Issue for consideration :1.1 Every person, being a person specified in S. 139(1), is required to furnish a return of his income on or before the due d

Tax Planning On Income

Mr. PURNA P 14 August 2007 at 03:52

Tax Planning for Income The goal of income tax planning is to minimize your federal income tax liability. You can achieve this in different ways. Typically, though, you'd look at ways to reduce your taxable income, perhaps by deferring your income or

All about Revaluation of Assets

CA Manish Iyer 13 August 2007 at 23:35

Introduction:Many countries around the world are committed to adopt IFRSs directly or to get their national standards aligned with IFRSs. The change to IFRS will have major effects on the financial statements. This is because of the following reasons