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Analysis of Cenvat Credit - Changes in FA 2011
Analysis of Cenvat Credit- Changes FA 2011 By Madhukar.N. Hiregange, FCA Introduction: The primary object o
Dispute - Genesis to Resolution
Handling of Departmental Proceedings - Survey, Search & Seizure, Adjudication Proceedings and Appeals CA Madhukar N. Hiregange The objective of this article is to summarise the basic backgrou
Few questions on Service Tax and Vat
SERVICE TAX & VAT Dear Student,These are important questions for revising again in last days.Please do complete course and then refer these Q & A.Dont take this as a short-cut.Although I promise you, these questions are picked after
eXtensible Business Reporting Language (XBRL)
An Introduction to XBRL XBRL is a language for the electronic communication of business and financial data which is revolutionising business reporting around the world. It provides major benefits in the preparation, analysis and communication of bus
Clarification regarding sending copies of Balance Sheets
Dear All Sometimes before Postal Department has discontinued the UPC service namely the facility of Certificate of Posting. Consequent upon which our Ministry of Corporate Affairs had permitted the service of documents upon the Shareholder
Failure to voluntarily apply sec 50C does not attract penalty
The ITAT Mumbai has given an important decision on levy of penalty u/s 271(1)(c) of Income Tax Act when a person fails to declare capital gain as per the deeming fiction of section 50C, I find this Judgment very useful and sharing it for the benefit
Certificate of Commencement of Business- In case of SLP
1. Requirement for obtaining commencement of business certificate A public limited company having share capital cannot commence business until it has obtained the certificate to commence business from the Registrar of Companies. Normally,
Analysis of Penalty on Late Filing of Service Tax Return
ANALYSIS OF PENALTY ON LATE FILLING OF SERVICE TAX RETURN Amendment in Section 70 (1) In Section 70 (1) of the Finance Act, 1994, for the words two thousand rupees, the words twenty thousand rupees shall be su
Section 50c applies to immovable depreciable assets
ITO vs United Marine Academy(Mumbai ITAT) Brief Facts: The assessee sold an office building for Rs. 49.43 lakhs. As the WDV of the said building was also Rs. 49.43 lakhs, no STCG was offered to tax. The AO held that as the stamp duty valuation of t
Few points on Internal audit
1) A plan once prepared should be continuously reviewed by the internal auditor to identify any modifications required to bring the same in line with the changes, if any, in the audit environment. However, any major modification to the internal audi
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