COMPARATIVE STUDY OF AS-22 (ACCOUNTING FOR TAXES ON INCOME) AND IAS-12 (INCOME TAXES)[Submitted by Mr. Anshul Rastogi,CA(Final),Meerut, Uttar Pradesh]July 6, 2007OBJECTIVE (AS-22 and IAS-12) To prescribe the accounting treatment for taxes on income.
Pricing of cross border supplies of goods and services assumes significance for the purpose of determining customs duties thereon and also for ascertaining the income tax liability of the person undertaking or receiving cross border supplies. It ther
Distinction between shares held as stock-in-trade and shares held as investment - tests for such a distinctionCIRCULAR NO. 4/2007, DATED 15-6-2007 The Income Tax Act, 1961 makes a distinction between a "capital asset" and a "trading asset".2. Capital
The concept of deemed dividend postulates two factors, whether thepayment is a loan and whether on the date of payment there isaccumulated profit.Closely-held companies having accumulated profits in whichsubstantial voting power lies in the hands of
What happens within boardrooms of companies has a direct bearing oncorporate governance, and the character and value systems of thedirectors and the time and inclination they have to exercise closeand constant supervision influence the happenings wit
Accounting Standards By Achint Guptaachint.gupta@gmail.com What are Accounting Standards? What are their objectives? Who issue these standards in India? What is the scope of these standards? These are only few of the questions that came in to my m
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