CAclubindia Articles

Section 44AD of the Income tax Act after Budget 16

MANSHI BAID 13 April 2016 at 10:39

SPECIAL PROVISIONS FOR COMPUTATION OF PROFIT AND GAIN OF BUSINESS ON PRESUMPTIVE BASIS(After Budget 2016)This section is nothing but provides a relaxation to the tax payers to declare income on presumptive basi

Sone Ki "Chidiya" ko Tax ki "Bediya"

CA Umesh Sharma 13 April 2016 at 10:39

Arjun (Fictional character): Krishna, what is the reason of agitation held by Jewellers across the Country. Why there businesses are closed from so many days? Let us discu

Ind AS - IFRS Converged Accounting Standards applicable to India

Prateek Jain 13 April 2016 at 10:39

On 16th February, 2015, the Ministry of Corporate Affairs (MCA) has notified Companies (Indian Accounting Standard) Rules, 2015 for applicability of Indian Accounting Standards (Ind AS) which shall come into force w.e.f 01st April, 2015. Indian Accou

Income Computation and Disclosure Standards

CA Arpita Tulsyan 13 April 2016 at 10:39

Income Computation & Disclosure Standards (ICDS's)ICDSs vis-�-vis AS and ICDSs vis-�-vis Judicial Rulings: There are significant deviations between the notified ICDSs, Accounting Standards & Judicial Rulings which are likely

Reverse Charge Mechanism under Service Tax

Shubham Gupta 12 April 2016 at 10:54

This reverse charge mechanism was first introduced from 01-01-2005 on 4 services namely telecommunication service, general insurance business, insurance auxiliary service, Goods Transport Agency services Reve

The Panama Papers: Things Explained in a Nutshell

Damandeep Singh 12 April 2016 at 10:54

"The Panama Papers Leak� these days this is the most running hot news on newspapers, TV channels, Internet & all other sources of media. Everyone wants to know, what it is all about, mostly due to the names of personalities being asso

Taxation on Investors and Traders

Munim.in 12 April 2016 at 10:54

Investor or Trader?According to Central Board of Direct Taxes(CBDT): Investor: anyone who invests with the intention of earning through dividends Trader: anyone who buys and sells with the intention of profiting from

Common errors while filing service tax return

SHILPA GUPTA 11 April 2016 at 13:36

With the service tax return season going on, consultants practising in the field of Indirect tax would be occupied in filing of Service tax return. The due date for filing of service tax return being 25 April; gives assessee a time of 25 days for pre

Internal Financial Control over Financial Reporting (IFCR)

Pranjul Mittal 11 April 2016 at 13:36

Meaning of Internal Financial Control over Financial Reporting Guidance notes issues by Institute of Chartered Accountant of India on September 2015 states that Internal financial control over financial reporting shall mean �the policies and pr

Recent changes in CARO 2016

CS DHANAPAL 09 April 2016 at 12:36

The Ministry of Corporate Affairs has notified the Companies (Auditor's Report) Order, 2016 (CARO 2016) vide its Notification no. S.O. 1228(E) dated 29th March, 2016. This Order supersedes the Companies (Auditor's Report) Order, 2015 dated 10