Articles by CA CS CIMA Prakash Somani

Types Of Mortgages

Posted by CA CS CIMA Prakash Somani 01 March 2009 25072 Views

Simple Mortgage Where, without delivering possession of the mortgaged property, the mortgagor binds himself personally to pay the mortgage-money, and agrees, expressly or impliedly that in the event of his failing to pay according to his contract,

Appeals In Income Tax India

Posted by CA CS CIMA Prakash Somani 01 March 2009 22285 Views

According to the provisions of Section 246 any assessee who is aggrieved by an order, passed by the Assessing Officer may prefer an appeal to the Commissioner of Income-tax (Appeals).The Commissioner of Income-tax (Appeals) or the Appellate Tribunal

How to Study for Exam- Time-Management

Posted by CA CS CIMA Prakash Somani 25 January 2009 26260 Views

Step 1 Become proficient at time management before your course begins. Be conscious of everything that you do. Create a graph of all your activities at the end of the day. Write down time, then activity. Disregard the relative importance or silliness

Minimum Alternate Tax ( MAT)

Posted by CA CS CIMA Prakash Somani 17 June 2008 35972 Views

The MAT credit is available in respect of MAT paid under Section 115JB of the Income-tax Act with effect from assessment year 2006-07.The amount of MAT credit would be equal to the excess of MAT over normal income-tax for the assessment year for whic

Long Form Audit Report (LFAR)

Posted by CA CS CIMA Prakash Somani 17 June 2008 73379 Views

Documents required to be kept in Audit file for Peer Review purpose1. Cash Retention Limit duly certified by the Branch Manager;2. A certificate from the Branch Manager stating that the excess cash holding is being reported to the controlling authori