CAclubindia Articles

Service Tax on Truck Owners

AKASH PHOPHALIA 20 August 2014 at 11:12

Service Tax on Truck Owners Services provided by way of transportation of goods by road are in the negative list in clause (p) of Section 66D. However, such clause makes an exclusion of services provided by Goods Transport Agency. Thus, it can be inf

Steps in Ledger Scrutiny

CA Satish Badve 19 August 2014 at 11:19

Ledger scrutiny is part of audit procedures, like vouching, posting etc.The scrutiny is required in all type of audit whether the same is Internal Audit, Statutory Audit. Ledger scrutiny is to be done for all type of clients whether the same is Pvt

Acceptance of Deposits

KARTIKEY 19 August 2014 at 11:19

Acceptance of Depositunder the Companies Act, 2013w.e.f. 1st April, 2014I. Meaning of the word DepositsAs per Section 2(31) the word Deposit has been defined as follows:Deposit includes any receipt of money by way of depos

Agenda for First Board Meeting of Private Limited Companies

CS Divesh Goyal 19 August 2014 at 11:18

As per New Company Law, gap between two board meetings cant exceed 120 Days. If last board meeting of company was held on 31st March 2014 then next board meeting can be held upto 28th July, 2014 (April 30 days + May 31 Days + June 30 days +Jul

All about forfeiting

RAM KUMAR GUPTA 19 August 2014 at 11:18

Forfeiting is another way of getting finance against the capital goods exported through purchase of bill by some other person/company, called forfeiter, which purchases all such export bills which shall be due on future dates. The important point in

Amended rules of chapter XII

ANJAN KUMAR ROY 19 August 2014 at 11:18

RELATED PARTY TRANSACTIONS (RPTS) ………….. Went to the operation theatre once again and came back with ………….some additions, some deletions, some clarity and a lot of confusion The Ministry of Corp

Missed 31st July Deadline for filing Income Tax Return? What Now?

CA Chirag Chauhan 19 August 2014 at 11:18

Most of tax payers comply with 31st July deadline for filing Income tax returns. However many miss out due to other commitment in professional and personal life. Missing the deadline does not mean you cannot file your return. Infact if you have miss

Audit Committee under Section 177 of Companies Act,2013

CS M.Kurtrala Nathan 19 August 2014 at 11:17

Section 177 of the Companies Act,2013 and Rule 6 and 7 of Companies (Meetings of Board and its Powers) Rules,2014 deals with the Audit Committee. Applicability of Audit Committee: The Board of directors of every listed companies and the following cla

India is My Country and To Pay Others Taxes is also My Duty

CA Umesh Sharma 18 August 2014 at 18:38

Karniti Part 50India is My Country and To Pay Others Taxes is also My DutyArjuna (Fictional Character): Krishna, In India on 15th August 68th Independence Day and on 17th August Shri Krishna Jannamashtmi was celebrated. Bhagwadgita has narrated the

Special Reserve created under section 36(1)(viii)

Member (Account Deleted) 18 August 2014 at 11:20

Special Reserve created under section 36(1)(viii) of the Income Tax Act, 1961 and Deferred Tax Liability on it.As per section 36(1)(viii) of Income Tax Act 1961 in respect of any special reserve created and maintained by a specified entity, an amount