CAclubindia Articles

12 interesting Changes in ITR FY 13-14

S.ASWATH 10 June 2014 at 12:06

There are 12 interesting updates in the ITR of FY1314 which are : 1. There are no refund by Cheque and only e-refund will be allowedControversy : Till now there are two option such as e-refund as well as cheque. But where the refund exceeds the limit

New CA Act implication

CS Ankur Srivastava 10 June 2014 at 12:06

Companies Act, 2013A review and immediate actions required Sr. No Particulars Section Action to be taken Time limit 1. Changes in letterhead, bills etc Section 12(3) Pri

Deposit under new CA Act

CS Ankur Srivastava 10 June 2014 at 12:06

Detailed provisions of depositExisting Deposits: Where the deposit accepted by the company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due

Karniti Part-40: State Budget: Relief in MVAT up to Rs. 10 Lakh but No relief for refund & LBT

CA Umesh Sharma 10 June 2014 at 12:05

Arjuna (Fictional Character): Krishna, on 5th June 2014, Deputy Chief Minister and Finance Minister of Maharashtra State presented the finance budget for the year 2014-1

NRI - Non Resident Indian Frequently Asked Questions on Income Tax for AY 2014-15

CA Chirag Chauhan 09 June 2014 at 12:05

Q) Who is NRI as per Income Tax Act? A) Residential status of an individual or HUF or a company is of great importance in Indian Income Tax Act as the liability to pay tax in India does not depend on the nationality or domicile of the Tax payer but o

Substance over Form

Amol Gopal Kabra (CA,CS,DISA) 09 June 2014 at 12:05

The concept of substance over form is very difficult to understand for the students in the initial stage. Owing to initial confusion many students either keep it in option or even if they study, dont understand it fully. I have made a short at

S. 194A - Co-operative bank need not deduct tax at source on interest paid to its members

Rupesh Srivastava 09 June 2014 at 12:04

(2014) TaxCorp(LJ) 3362 (ITAT-BANGALORE) S. 194A - Co-operative bank need not deduct tax at source on interest paid to its members even if the amount exceeded Rs\- 10,000 p.a. It was held that 194A(3)(v) applies to a co-op bank and in view of the exe

Section 139 - Appointment of Auditors

Saurabh Toshniwal 09 June 2014 at 11:57

Chapter X - Audit & Auditors (Section 139 to Section 148)Section 139 (Appointment of Auditors) Appoint at first annual general meeting who shall continue up to conclusion of 6th AGM Ratification by members at every AGM Written consent from Aud

Comprehensive Agenda Items of First Board Meeting in FY 2014

Ankur Garg 09 June 2014 at 11:57

Dear All, It is a fact that various new provisions / compliance have been prescribed by Companies Act, 2013. Some of these compliances are such where no transition period has been given. For example Section 12(3) and particularly clause (c) which req

Management of risk emanating from usage of social media by financial institution

Dinesh Darak 09 June 2014 at 11:56

Abstract Nowadays social media is being used by financial institutions for advertising and marketing, product research, facilitating applications for new accounts, providing incentives, inviting feedback from the public and engaging with existing and