Articles by CA Nikita

Make your Resume Powerful!!!

Posted by CA Nikita 06 August 2007 9260 Views

Presenting your resume is the first step in the process of getting a desired job. A good resume will land you an interview; a sloppy one won't. Hence, the importance of writing a powerful resume doesn't need much emphasis.A 'Resume' is like a marketi

Remuneration payable to the Statutory Central and Branch Auditors of Public Sector Banks from the year 2006-07

Posted by CA Nikita 06 August 2007 7707 Views

RBI/2007-2008/101DBS.ARS.BC. No. 3/ 08.92.001/ 2007-08 July 25, 2007To,The Chairman & Managing Director, all Nationalised Banks andThe Managing Director, Associate Banks of SBIDear Sir/Madam, Remuneration pa

MAT

Posted by CA Nikita 30 July 2007 7136 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 whi

Concealment-Conscious/Unconscious

Posted by CA Nikita 29 July 2007 8112 Views

Concealment or furnishing inaccurate particulars of income is liable for penalty. The concealment may be deliberate or otherwise. Provisions relating to concealment penalty have undergone frequent changes . For example, the Finance (No. 2) Act, 1977

Coming Up- Clarification on Works contract

Posted by CA Nikita 29 July 2007 6542 Views

The government said it would issue clarification on works contract which was included under service tax net this year. "We will issue clarification with regard to the ongoing contract after formal examination," Finance Ministry Joint Secretary (TRU-I

Substance over Form-TDS

Posted by CA Nikita 23 July 2007 9890 Views

Mere nomenclature used in the lease agreement, such as security deposit or advance deposit, will not be conclusive of the nature of the payment. The reality of the transaction will have to be looked into.Tax law seeks to safeguard the interests of th

Will tribunals trivialise justice delivery?

Posted by CA Nikita 03 July 2007 5597 Views

It's increasingly a conflict between the judiciary and the quasi judiciary, seen by many as closer to the executive than the judiciary. The question is whether the new, powerful tribunals and commissions proposed by the government to speed and "moder

Taxman's brush with fine art of evasion

Posted by CA Nikita 03 July 2007 5690 Views

Tax evasion, some say, has become a fine art in India. So, it wasperhaps a matter of time before fine art came under the I-T scanner.It would certainly be hard for taxmen to ignore this phenomenon,with the Indian art market currently valued at $350 m

New I-T return form's a tough nut

Posted by CA Nikita 03 July 2007 6171 Views

Are the new income tax returns (ITR) `saral' indeed? For close to adecade, successive finance ministers have sought to make the returnseasy to file although many taxpayers are not convinced.According to finance minister P Chidambaram, the return form

Fair Value Stumps Auditors

Posted by CA Nikita 26 June 2007 5955 Views

Fair Value Stumps Auditors, PCAOB ToldAuditors won't feel at ease about dealing with fair value foranother 20 to 30 years, the PCAOB's advisory group predicts.Sarah Johnson, CFO.comJune 22, 2007The Public Company Accounting Oversight Board's advisory