CAclubindia Articles

Analysis of draft rules for grant of Foreign Tax Credit

Posted by CA Paras Dawar 20 April 2016 6459 Views

Computation of Foreign Tax Credit (�FTC�) in case of assessee�s with cross border tax payments has been a major hassle for tax professionals. Absence of well-defined set of rules, coupled with few judicial precedents had resulted in

Prevention of money laundering act, 2002

Posted by CA. Atul Khurana 20 April 2016 9187 Views

Introduction:PREVENTION OF MONEY LAUNDERING ACT, 2002 Came into force with effect from 01st July, 2005.The Act extend to whole of India except J&K.Objective: To prevent money- laundering, seize the property with authority, involved in money laund

Ind AS12 on income taxes

Posted by P.R. Sethuraman 20 April 2016 76459 Views

What is tax expense?Tax expense (income) is the aggregate amount included for determination of profit and loss in respect of current tax and deferred Tax. Income tax relating to items charged or credited to other comprehensive income/equity is charge

Common problems of MCA with solution

Posted by CS Ankur Srivastava 19 April 2016 27566 Views

W.e.f. 27th March, 2016 MCA portal is under unconsciousness stage. Stakeholders are not able to even login, sign, prefill, upload, prescrutiny check of forms. Unnecessary cookies related solutions are being suggested by the MCA. Effort

Responsibilities of the Company Secretary

Posted by Gaurav 19 April 2016 7678 Views

Company Secretary:A Company Secretary is basically a person who holds the senior position in a company, both private and public. Having the position is equivalent to that of a manager, a Company Secretary ensures smooth and efficient administration o

How to reduce tax liability through HUF?

Posted by CA. Kapil Goel, DISA(ICAI) 18 April 2016 33905 Views

How to reduce tax liability through HUF? In this article we will discuss how to reduce the Tax Liability using HUF. As it is a separate legal entity in the eyes of Income Tax Act.Formation of a HUF: Typically, a HUF is automatically created. As the n

Appointment & continuation of managerial personnel above the age of 70

Posted by CS Divesh Goyal 18 April 2016 7018 Views

Provision:As per 196(3) No company shall appoint or continue the employment of any person as managing director, whole-time director or manager who is below the age to twenty-one years or has attained the age of seventy years:Provided that appointment

Highlights of Section 194IA

Posted by CA Rohan jain 18 April 2016 180689 Views

Highlights of Section 194-IA (TDS On Sale/Purchase of IMMOVABLE PROPERTY)Crux :1.As per Finance Act of 2013, TDS is applicable on transfer of any Immovable Property(other than agricultural land), wherein the consideration of the property exceeds or i

Maharashtra Settlement of Arrears in Dispute Act 2016 a new law

Posted by CA Umesh Sharma 18 April 2016 7418 Views

Arjun (Fictional character): Krishna, this year Central Government has introduced various new provisions in the budget to settle tax related old disputes. Following that, the state government also has brought up law to settle the disputes between tax

Understanding tds on purchase of immovable property

Posted by Abhishek Ranjan Singh 18 April 2016 76691 Views

Understanding of Notice, Penalty, Late fees and Interest on TDS for Purchase of Immovable PropertyAs per Finance Act of 2013, TDS is applicable on transfer of Immovable property, wherein the consideration of the property exceed