Articles by CMA Gul S

Tribunal's power to grant stay of demand

CMA Gul S 23 September 2007 at 14:47

Section 254 of the Income-Tax Act, 1961 relates to appeals before the Income Tax Appellate Tribunal (ITAT) by assessees and the tax department. It also deals with the law relating to grant of stay of demand on assessees' petitions. This section was

What's short-selling of shares

CMA Gul S 21 September 2007 at 18:27

What is short-selling? Short-selling, in the context of the stock market, is the practice where an investor sells shares that he does not own at the time of selling them. He sells them in the hope that the price of those shares will decline, and he w

HOUSING SOCIETIES TRANSFER FEES TAXABLE

CMA Gul S 17 September 2007 at 22:43

HOUSING SOCIETIES in the city that disputed the applicability of income tax on transfer fees - collected by a society when a flat is sold by a member - may have to pay up. The Income-Tax (I-T) Department has begun issuing notices to such housing soci

Period of Preservation of Accounts

CMA Gul S 17 September 2007 at 22:43

Central ExciseDaily Stock Account of goods produced must be maintained for 5 years immediately after the financial year to which such records pertain Maharashtra Value Added Tax Rules Every Registered Dealer must preserve all books of account, regis

OPPORTUNITY TO WORK IN NOVA SCOTIA, CANADA

CMA Gul S 14 September 2007 at 14:01

OPPORTUNITY TO WORK IN NOVA SCOTIA, CANADAProfessional Development Committee (PDC) of ICAI is working with BusinessDevelopment, Emerging Markets team of Nova Scotia Business Inc. (NSBI) to facilitaterecruitment of members of ICAI for employment in No

Single window clearances envisaged for SEZs

CMA Gul S 14 September 2007 at 14:01

The Union Minister of Commerce & Industry called for a coordinated effort by all stakeholders so that SEZ Scheme can fulfill its objectives and is implemented efficiently by the State Governments by providing single window facilities and all othe

Infrastructure MFs are flavour of the year

CMA Gul S 13 September 2007 at 14:38

It's not just the infrastructure sector that is witnessing fund inflows from a cross section of investors, including private equity players, for the past year. Schemes floated by mutual funds (MFs) have also piqued investor interest, as a result of w

Report on Indo-EFTA trade pact by year-end

CMA Gul S 13 September 2007 at 14:38

A Joint Study Group (JSG) of India and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Liechtenstein and Iceland, set up last December to explore the possibility of entering into a broad-based trade and investment agreemen

Re-hit exporters may get extra sops as govt worries on missing target

CMA Gul S 13 September 2007 at 14:38

The government is likely to dole out an additional relief package for exporters hit by an appreciating rupee by the month-end with fears that the country may not achieve the $160-billion export target. The move comes at a time when the exporters have

Tax Benefits for Senior Citizens

CMA Gul S 12 September 2007 at 18:06

What are the deductions admissible to a Senior Citizen? K G menonThere are not many . A person becomes senior citizen under Income Tax Act in any year after attaining the age of 65 even for one day. Once he attains 65 years, his status as senior citi