CAclubindia Articles

Let's Keep Accounting Simple

Ashok 13 December 2013 at 11:39

The profession of Chartered Accountancy is much respected in society today. Its a prestigious recognition that many tens of thousands of students aspire to attain. The profession earned this respect partly due

Rejection Order under VCES is appealable & recent clarifications

Bimal Jain 12 December 2013 at 16:57

Dear Professional Colleague, Rejection Order under VCES is appealable & recent clarifications issued pertaining to VCES We are sharing with you an important judgement of the Honble Punjab & Haryana High Court in the case of M/s Barnala

Voluntary Compliance Encouragement Scheme 2013

Advocate Neerav Mainkar 12 December 2013 at 11:10

VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013- ENGOURAGING ENOUGH? The Budget of 2013-14 ushered in a new gift for a multitude of service tax payers; or rather non-payers by announcement of the Voluntary Compliance Encouragement Scheme, 2013 or the

Importance of Internal Audit Report for the Statutory Auditor

Ca Jai Prakash Agarwal 12 December 2013 at 11:03

Internal Audit report is a very crucial document and if internal audit is carried our fairly, it contains lot of insights and information about the entitys operations. The statutor

Last Month for Service Tax VCES 2013 - Highlights

CA Chirag Chauhan 12 December 2013 at 11:03

LAST MONTH FOR SERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEME, 2013 (VCES)Readers, this is last month to take the opportunity under VCES (Service Tax Voluntary Compliance Encouragement Scheme). Through this scheme government wants to act tough

Rupee Depreciation - 8 Practical Reasons

CA Chiranjiv Kumar 11 December 2013 at 12:04

Rupee had fallen an all-time low on 28th August 2013 at 68.85 and now it is appreciating and currently standing at 61.13 as on 10th December 2013. Underlining principle is demand and supply which we all know but let me get to the real situation to ex

ST on Works Contract Service under Reverse Charge Mechanism

CA Chandrashekar L 11 December 2013 at 12:04

Date :10/12/2013An Overview of Service Tax on Works Contract Service under Reverse Charge Mechanism 1.Reverse Charge?As per Section 68(1) of the Finance Act, liability to pay service tax is of the service provider. However there is exception to the

Corporate Governance & its Importance

CA S K MISHRA 10 December 2013 at 17:58

Corporate Governance In todays globalize and interconnected world, investors, creditors and other stakeholders have come to recognize that environmental, social, and governance responsibilities of a company are integral

Karniti Part-14: Why, Carrot to Service tax defaulters and sticks to followers?

CA Umesh Sharma 10 December 2013 at 17:58

Why, Carrot to Service tax defaulters and sticks to followers? Arjuna (fictional character): O Lord Krishna, Why Honble Finance Minister is promoting the Voluntary Compliance Encouragement Scheme of Service Tax so much? Lord Krishna (fictional

Loan provided to employees- Perquisite calculation - Part II

T E Gautham 10 December 2013 at 17:57

In an earlier previous post, we had a look at the basis of perquisite calculation on loans provided to employees and members of their household. According to Rule 3 (7)(i) of the Income Tax rules, the taxable value of benefit an employee derives on a