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Roller coaster or an aircraft?
In A Roller Coaster, the starting point and ending point is the same.In Aircraft, your starting point is a different city / country than your destination at end of the journey. In A Roller Coaster, your purpose is to have fun in the ups and downs. Yo
Full CPT revisionary notes applicable for June 2016 exams
Accounting � An IntroductionMeaning and Scope of AccountingTransaction is used to mean �a business, performance of an act, an agreement� while event is used to mean �a happening, as a consequence of transaction(s), a result.�Meaning of AccountingAccounti
IFC - Relevance of Information Technology in Internal Controls
The purpose of internal controls is to identify, manage and control risks that could prevent the organization from achieving its objectives. The information technology (IT) function designs, develops, implements and maintains much of an organization&
ST - Interest rates changed again !
Service TaxInterest Rates Changed Again!There are two provisions under Finance Act, 1994 dealing with interest on delayed payment as given below: Sl. No Situation Section No. 1 Am
3 steps to control risk in your investment portfolio
Any investor would agree that ignorance and lack of awareness in the investment field can prove to be expensive. In the world of finance and investment, risk management is very closely related, rather necessary for measuring performance. Understandin
All about internal financial control (IFC)
What is Internal Financial Control (IFC)? (Sec 134) As per Section 134 of the Companies Act 2013, the term �Internal Financial Controls� means the policies and procedures adop
Beware: tax evaders take bath in this "Kumbhmela" of income declaration scheme 2016 or else?
Arjuna(Fictional Character): Krishna, by taking a holy bath in Kumbhmela, a person purifies himself. Now the Income Tax Departmen
Assessment of HUF with perspective of important & recent cases
Hindu Undivided Family(HUF) - A fresh perspective with important & recent case laws:Background:U/s 4 of the Income Tax Act, 1961 income tax is payable by �every person�. U/s 2(31), Person is defined to include a Hindu Undivided Family
Indirect Tax Dispute Resolution Scheme, 2016: Overview
The Union Budget, 2016, has introduced number of measures for reducing litigation and providing certainty in taxation, considering the same as one of the key thrust are
TCS on sale of Goods and Services
Section 206CTax Collected at Source:�TCS is the Tax Collected at Source by the seller (collector) from the buyer(collectee)�. Every person, being a seller, shall collect tax at source (TCS) from the buyer of goods specified in section 206
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