CAclubindia Articles

Concept of Contemporaneous Documentation in Transfer Pricing

CA Deepanshu Bansal 14 October 2014 at 10:42

Contemporaneous documentation means information, records and other documents which exist or brought into existence at the time the taxpayer is developing or implementing any arrangement that might raise transfer pricing issues. It is important that

Life Learning Lessons From Tally

Rishit Shah 13 October 2014 at 11:14

Tally is commonly known to people as an accounting software which is widely used in India as well as abroad. But it is much more than just an accounting software. It is a complete package for managing a business and its allied operations. Well, I am

Reservations/ quota system do we need them?

Dhruv Nandani 13 October 2014 at 11:12

Just having read the topic, many of us may come to a conclusion that, NO there is no need for reservations, we believe in merit. Let people compete on merit, why shall someone be given preference at the cost of others. Let people be given equal oppor

"Tell me about yourself" interview question - Simple ways to follow

Nimish Goel 13 October 2014 at 11:12

OK. So tell me about yourself This seemingly simple question generally makes everyone sweat like a pig and can create a nerve-wracking situation for any candidate who is not prepared. Well, there is no need to panic since it is not at a

Be Careful - while making transactions in cash!!

CA Umesh Sharma 13 October 2014 at 11:11

Karniti Part 58 Be Carefulwhile making transactions in cash!! Arjuna (Fictional Character): Krishna, Today is 13th October last day for the promotion of Elections. In the chaos of election, crores of rupees were ceased. During this period Ele

Update on Indirect Tax - Service Tax and Excise for the month of Oct 2014

TARUN KUMAR GUPTA 11 October 2014 at 10:49

A. Service Tax 1. Service Tax payment for the month of September, 2014 is due for payment on 6th October, 2014 for assesses including Individual, Proprietary Firm, Partnership Firm or LLP. It is now mandatory for all assesses w.e.f. October 1, 2014,

An Accountant; a value creator or a value counter or co-ordinator in a Business

CA.Raj Kumar Gupta 11 October 2014 at 10:49

An accountant; a value creator or a value counter or a value co-ordinator in a Business.Business has been almost fully corporatized in this twenty first century. Now days, we can find that even small business entity prefer to work in corporate firm r

Interest allowable on refund of pre-deposits

Bimal Jain 11 October 2014 at 10:48

Dear Professional Colleague,Interest allowable on refund of pre-depositsWe are sharing with you an important judgment of Honble Delhi High Court in the case of Afcons Infrastructure Ltd. Vs. Union of India [(2014) 49 taxmann.com 79 (Delhi)] on

Process of approval of Directors report & FS

CA Nitesh Kumar More 10 October 2014 at 11:15

Process of approval of Directors report & FS: MGT 14 can be filled by 20th Oct, if Board meeting held on 21st Sep & shorter notice for AGM 1) Auditor had been appointed in last AGM & audit, say , whole year(generally,in case of Big CO). I

House Rent Allowance (HRA) Vs. Rent Free Accommodations (RFA)

Sensys Technologies 09 October 2014 at 12:20

House Rent Allowance (H.R.A.) results in tax savings because accounting under Income tax act is direct exemption based. However, accounting of Rent Free accommodation is valuation based taxation and added to total income of employee presumptive basis