CAclubindia News
Direct tax Growth figures are pleasant facts!!
22 August 2007 at 12:42Improved tax administration and a robust economic growth have started showing results. Continuing with its buoyant growth, the Centre's net direct tax collections grew 44.39 per cent since the beginning of the current fiscal till August 15 to Rs 59,2
ARE YOU INTERESTED 'ICAI' LIAISON POINT ..!!
22 August 2007 at 08:57Important Announcement from ICAI ::The matter regarding positioning of the profession at the global platform hasbeen receiving the attention of Institute for quite sometime and in this era ofglobalization, the aim is to facilitate creation of opportu
FREQUENTLY ASKED QUESTIONS ON 'TAN'..!!
21 August 2007 at 05:47What is TAN?Ans. TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. It is compulsory to quote TAN in all TDS/TCS returns (i
Confusion in AIR for taxpayers!!
21 August 2007 at 05:17Worryingly for taxpayers, there is confusion in the air about AIR (annual information return) ever since the taxman issued an FAQ relating to ITR (income-tax return) forms. FAQs are supposed to clarify things but what is causing puzzlement to assesse
Could stamp papers escape E-filing???
21 August 2007 at 04:46Companies would soon be able to file stamp papers electronically with the ministry of corporate affairs, a senior official said today. "Companies are now filing their papers online, with the exception of stamp papers. But we are working on this as we
ICAI to set up 12 new centres of excellence
21 August 2007 at 02:17TheInstitute of Chartered Accountants of India (ICAI) is contemplating thesetting up of 12 centres of excellence for chartered accountants (CAs)across the country within two years. The centres would enhance the capability, quality and p
FBT cannot substitute liability of employees !
20 August 2007 at 23:27A client pays his senior employees a quarterly bonus, a fixed sum, revised once a year. Since, this is given to all senior executives, this is taxed at 30 per cent plus SC plus cess in the hands of the employees. These employees request that the comp
LOSS ABROAD CAN BE SET OFF FROM TAXABLE INCOME IN INDIA ..!
20 August 2007 at 23:05A large number of Indian companies have set up offices outside India. The profits or losses of such offices are liable to be taxed in the foreign country. But how such profits or losses should be treated in India is a vexed question. A recent judgmen
Scrutiny Norms..a study..!
20 August 2007 at 00:49Computing the income chargeable to tax as per the provisions of the Income-Tax Act, 1961 is the first step in tax compliance. The natural sequence thereafter would be filing the return of income and awaiting approval of the tax authorities in respect
CBDT PAVES WAY FOR SHORT SELLING OF SHARES !
19 August 2007 at 23:07The Central Board of Direct Taxes (CBDT) has clarified that lending and borrowing of shares for short selling in equities will not attract capital gains tax. With this clarification one of the important hurdles in the way of permitting short selling
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