CAclubindia Articles

Meaning of Assessed Tax for the purpose of section 234B

CA Harsh Kothari 10 January 2015 at 11:13

Meaning of Assessed Tax for the purpose of section 234B.Introduction: We regularly face situations where we are required to compute interest under section 234B of the Income tax Act, 1961 (Act). Whereas, the present scenario is that thi

Excellence in Excel - Part III

CA ANKUSH AGGARWAL 10 January 2015 at 11:13

How to use VLOOKUP in ExcelOn many request to write an article on VLOOKUP,I tried my best to fulfill the requests. VLOOKUP is a powerful Excel function that allows you to look for a specified value in one column of data in

Exemptions of Service tax for GTA Service

Member (Account Deleted) 10 January 2015 at 11:12

What are the exemptions available on GTA Service on the basis of goods involved in the consignment?As per notification no.25/2012- ST amended from time to time, services provided by way of transportation of f

Applicability of provisions under Co. Act, 2013

CS Divesh Goyal 09 January 2015 at 11:05

1. Applicability of XBRL (Extensible Business Reporting): General Circular No. 16/2012 Dated: 06.07.2014. Vide Companies (Filing of documents and forms in Extensible Business Reporting Language) Rules, 2011 notified vide GSR No. 748E dated 5.10.201

Works contractors are also eligible for advance VAT exemption - P&H High Court

Amit Bajaj 09 January 2015 at 11:05

The Punjab & Haryana High Court in CWP 19835 of 2014 Ayyappa Infra Projects Pvt Ltd vs State of Punjab has directed the State of Punjab to issue clarification to the effect that works contractors are also eligible for exemption from advance VAT

Rent a cab service - Revenue Raising or Litigation Raising

Harsh Gadodia 09 January 2015 at 11:05

A recent amendments made in the Union Budget 2014 in regard to rent a cab service - service tax liability, cenvat credits and reverse charge, not only ignite the confusions that was prevailing already in the industry

Lacuna in section 14A and rule 8D of IT Act 1961

CA HEMANT SHARMA 08 January 2015 at 12:48

Allowance of expenditure incurred in relation to exempted income during the assessment or otherwise would be prejudicial to the revenue thats why Section 14A was introduced by the Finance Act 200

Section 143 Powers and Duties of auditors

Anjana Ahuja 08 January 2015 at 11:53

Section 143 Powers and Duties of auditors and auditing standards (Relevant Rule 11, 12, 13 of The Companies (Audit and Auditors) Rules, 2014)Auditor have right to access books of accounts and vouchers of the co. and all its subsidiaries, if a

Decreasing crude oil prices but increasing excise duty

CA Ashutosh Khaitan 08 January 2015 at 11:53

India is one of the largest importers of Crude Oil as it imports roughlyaround 80% of its total requirements. The recent fall of almost 45% in thecrude prices from at its peak of $115/Barrel in June 2014 to $57/Barrel inJanuary 15 has been a blessing

Raju ban gaya gentleman - CSR in Education or Education in CSR

Sundharesan Jayamoorthi 08 January 2015 at 11:05

CSR is the latest buzzword that matches Corporate Governance in terms of brand recall and search in most electronic media. Off late even the print media has stopped writing much on Governance; maybe with so many scams they have lost faith in the form and