CAclubindia Articles

Some Facts for Tax Provisions

CMA Gul S 01 October 2007 at 14:41

1. Before we discuss the interpretation of 'beneficial provisions', it will be interesting to consider some basic rules of interpretation as laid down by the Supreme Court in its pronouncements viz. :(1) Legislative intent should be considered, henc

Careful while investing- Mr. FM

CMA Gul S 01 October 2007 at 13:00

NEW DELHI: As Sensex continued its upward march on Friday, touching a new high of 17,361.47 points before closing at 17,291.10, finance minister P Chidambaram urged investors to adopt a cautious approach. "My advice to investors is that they should d

AS 17 likely to change with convergence

riya 01 October 2007 at 03:59

Dolphy D'Souza The Institute of Chartered Accountants of India (ICAI) recently decidedthat Indian Accounting Standards will be fully in line with the IFRS(International Financial Reporting Standards) from April 1, 2011. Thechange from Indian GAAP (Ge

Gifts - Taxable or Non Taxable

Ravikumar.G 30 September 2007 at 22:20

Applicability :Individual and HUFTaxability:Any sum of money,aggregate value of which exceeds Rs.50,000 /- is received during the previous year without consideration,by an Individual or a HUF from any persons on or after 01.04.06 then the whole of th

Accountant Malpractice Lawsuits - Collection Tool for Lenders?

riya 30 September 2007 at 22:20

Accountant Malpractice Lawsuits - Collection Tool forLenders?By Grusd, Neville Lenders occasionally sue accountants for malpractice.This generally occurs when the lender suffers a lossand claims that the advances were made in reliance onincorre

FAQ on DIN

riya 30 September 2007 at 22:20

Frequently Asked Questions (FAQ) on 'Director Identification Number (DIN)' 1. What is Director Identification Number (DIN)? Itis an unique Identification Number allotted to an individual who is anexisting director of a company or intends to be ap

Guidelines for preparation & appearance in exams

riya 30 September 2007 at 01:25

Examination Guidelines:While there is no substitute forhard work, here are a few guidelines that will supplement your efforts inpassing CA/CWA/CS examinations. PreparationStudy from Study Notes of the Institute for all subjects supplemented by othe

Microsoft Excel Fails Math Test

धारा - 1 29 September 2007 at 23:09

Microsoft's Excel 2007 spreadsheet program is going to have to relearn part of its multiplication table.Ina blog post, Microsoft employee David Gainer said that when computerusers tried to get Excel 2007 to multiply some pairs of numbers and t

Sec 43A of the IT Act Vs. AS 11

Ravikumar.G 29 September 2007 at 16:10

Suppose a machine was imported for one lakh US dollars when the exchange rate was Rs 45 per dollar. Both in the accounting records as well as in the tax records, the transaction would have been recorded debiting the asset concerned with Rs 45 lakh. B

Declared goods as per CST Act

Ravikumar.G 29 September 2007 at 11:33

Goods of special importanceThere are restrictions on imposition of sales tax on declared goods.Article 286(3)(a) of Constitution of India authorises Parliament to declare some goods as of 'special importance' and to impose restrictions and conditions