CAclubindia Articles

Wall Street - The fall of the wall.

Aravind 24 September 2008 at 12:28

The US once more became the lender of last resort for its banks and industries battered by the subprime crisis, extending a $85 billion bridge loan to global insurer AIG. Immediate danger averted, the American banking system is now in unchar

Expenditure on website development

sudha 23 September 2008 at 14:54

Expenses on Development of Website : Capital or Revenue in nature Expenses on Development may be treated as Revenue Expenditure. Enduring benefit is not the only criteria for determining whether the expenditure is of capital or revenue nature. The r

AS 26 Accounting for Intangibles : A review with respect to Patents and Trademarks

sudha 22 September 2008 at 13:14

AS 26 Accounting for Intangibles : A review with respect to Patents and TrademarksMore often brands created are not recognized in the Balance Sheet. Companies invest huge amounts in advertisement and sales promotion which were earlier treated as def

CREDIT OF RESIDENCE LANDLINE, MOBILE ALLOWED

MONISH BHALLA 20 September 2008 at 15:29

Change is inevitable and so are the clarifications and statements issued by the Ministry of Finance, which at times change more colours than a chameleon. In 2003, the Central Board of Excise and Customs, vide its Circular No. 59/8/2003-S.T., dated 2

SEZ OVERRIDES SERVICE TAX

MONISH BHALLA 20 September 2008 at 15:21

The Central Government has been always known for the internal inconsistency between the Commerce and Finance Ministry. Both the Ministries have their own agendas and conflict of interest which is the root cause for all such Ambiguities. The Ministry

CURRENCY FUTURE: A Step into Future

PRADEEP MODI 16 September 2008 at 12:57

CURRENCY FUTURE: A Step into FutureBy Preeti Modi, B.Com. ICWA, ACA.E-mail : preetimodi_ca@yahoo.co.inIt was very proud day on 29th August, 2008 for NSE (National Stock Exchange) when Finance Minister inauguratesa new financial services product - Cu

Tax on SIxth Pay Commission Arrears in FY 2008-09

RAJAN GUPTA 15 September 2008 at 16:10

Dear Friends , In this post we discuss various aspects of the tax due of arrears received /allowed to the Govt employees in light of Income tax rulesArrears to be given on the basis of sixth pay commission Report As per sixth pay commission the rep

Return of Income & Procedure of Assessment

Ashka 15 September 2008 at 12:22

Sec 139(1): submission of return of income* Being a co. or a firm(even those co’s whose entire income is exempt u/s 10, etc)* Being a person other than co, firm 1) if his total income or 2) total income of any other person in

Dos and Donts at interviews

sudha 15 September 2008 at 12:22

Dos and Donts interviewsA proper interview can get us the job. There are a number of things we need to be prepared with before facing the interview. The following are a few dos and donts .1. Do check the advertisement.2. Ensure you meet

Enjoyment and Exemptions To Private Limiteds in INDIA

CA. Dashrath Maheshwari 13 September 2008 at 18:15

Exemptions To Private Limited Companies 1) Financial assistance can be given for the purchase of or subscribing for its own shares or shares in its holding company - Sec. 77 (2). 2) Further shares can be issued without passing a special resoluti