CAclubindia Articles

A Brief Analysis on Safe Harbour Rules

Sagar Tilak 26 November 2013 at 11:31

Background The tax litigation relating to Transfer Pricing has been the area of concern for the assessees as well as tax authorities. The determination of Arms Length Price (ALP) covers not only financial but also the economic analysis of the

Insistence with Companies Act 1956: A Step Backward

Arijit Ghose 26 November 2013 at 11:30

The November 18th announcement made by ICAI seeking attention of those appearing for Nov, 2014 is definitely a step backward. After the entire Hullabaloo, post November 5th when CA final students were shell shocked to find themselves staring at the P

Dealing in Bonds - Practical Aspects

CA Chiranjiv Kumar 26 November 2013 at 11:30

What are bonds?Bond is a debt security in which the holder is paid interest at regular interval till maturity and the principal amount at the same date. You can think it as an IOU (I Owe You) given by the issuer to the lender.How interest is paid?Gen

Service Tax on GTA - A Guide

Manoj Agarwal 26 November 2013 at 10:53

1. Service Tax - Introduction It is quite surprising to know that unlike other central taxation laws like Central Excise Act, 1944; Customs Act, 1962; Income Tax Act, 1961; Central Sales Tax Act, 1956; etc; there is no specific act like Service Tax A

Calculation of Tax Exemption on LTA

T E Gautham 25 November 2013 at 12:19

In an earlier post we looked at the conditions governing tax exemption on leave travel allowance (LTA). In this post we will look at the calculation of the tax exemption amount. As mentioned in the earlier post, the exemption is available only on tra

Income Tax Short Notes: A summary

C.S.SAVEESH.K.V. 23 November 2013 at 13:47

INCOME TAX FOR C.S.EXAM DEEMBER 2013Heads of Income:Income of a person is classified into 5 categories. Thus, income belonging to a particular category is taxed under a separate head of income pertaining to that category. Section 14 of the Act, has

Tax Exemption on Leave Travel Allowance

T E Gautham 23 November 2013 at 13:46

As a company engaged in the business of payroll processing and statutory compliance related to payroll, we wonder if the tax law governing tax exemption on Leave Travel Allowance (LTA) is among the most complex tax legislations in India. Each year or

Cenvat Credit Rules from scratch Part-2

Saurabh Maheshwari 23 November 2013 at 13:46

Hello friends, Greetings of the day to you all!!In continuation with the previous article the next part is ready .so lets begin discussing the remaining topics.. The link for first part Q-1 What are the timing, manner a

Inflation Cost - Allowability under Business Head of the Income Tax Act,1961

Raghavendra Prasad M 23 November 2013 at 13:45

Sri S.S.Tarapore, retired Dy. Governor , Reserve Bank of India, and a popular columnist in The Hindu Business Line, Eenadu dailies time and again requests the RBI authorities to do justice to the poor depositors by payi

Internal Audit and Risk Management

Ca Jai Prakash Agarwal 23 November 2013 at 13:43

Internal Audit and Risk Management Whether Synonyms or something else. By CA Jai Prakash Agarwal M.Com, LL.B, ACMA, ACA, ACS, DISA (ICAI), DIRM (ICAI), UGC NET What is Risk Management? Risk management once a jargon has become a much kno