CAclubindia Articles

Joint Charge-Compliance and Credits Under Negative List Based Taxation

Posted by Madhukar N Hiregange 22 April 2014 9547 Views

Introduction:The service tax law based on negative based taxation has been effective fr

Sales of goods on High Seas Sale & by Transfer of Ownership

Posted by CS M Pota 22 April 2014 75667 Views

• What is High Seas Sale To understand what is high sale it is needed to understand the meaning of ‘high sea’. The term ‘High Sea’ means any location in the Sea/Air which is not covered in the territorial limit of India.

Section 40(a)(ia): Whether applicable to sum payable at the year end or on all sums during year

Posted by Sagar Gupta 22 April 2014 20389 Views

Section 40(a)(ia) of the act was introduced in the Income Tax Act, 1961 by the Finance (No 2) Act, 2004 w.e.f. 01.04.2005 with the view to augment the revenue through the mechanism of tax deduction at source. This provision was bought so as to disall

Recent Changes in Service Tax

Posted by Madhukar N Hiregange 22 April 2014 44492 Views

Introduction Service tax is a levy on provision/rendition of service in India. Chapter V of Finance Act, 1994, introduced Service tax in India and it came to force from July 1994. Finance Act, 1994 is the only parent

Avoiding Dispute Alternative

Posted by Madhukar N Hiregange 22 April 2014 4998 Views

Avoiding Dispute Alternative Best Practices?-By Madhukar N HiregangeOne of the major challenges for the assessee is avoiding of the disputes with the department. To avoid/ reduce such disputes with the department, one must understand

Exemption Notification cannot be forced upon assessee

Posted by Bimal Jain 21 April 2014 7836 Views

Dear Professional Colleague,Exemption Notification cannot be forced upon assessee No legal bar on paying duty & availing benefit of Modvat schemeWe are sharing with you an important judgement of the Honble High Court of Delhi, in t

A Note on Independent Director - A New Law in Co Act

Posted by radha 21 April 2014 40860 Views

A NOTE ON INDEPENDENT DIRECTORS The term Independent Director is not a new for us. Provisions in relation to Independent Director was well incorporated by the SEBI in the listing Agreement. Now the Companies Act, 2013 also introduced the definition a

Exchange rate determination and its dynamics

Posted by Gowtham 21 April 2014 10396 Views

Many a time, when we hear in news that Indian rupee depreciates or appreciates against US dollar, a common question that arises in the our mind is How are

First check and Second check in Customs

Posted by CS M Pota 21 April 2014 55333 Views

Before understanding the meaning of first check and second check in Customs, we understand what is Customs? As per the Oxford dictionary Customs mean usual behavior. In other wards we may say it is a usual pract

Overseas shoot not taxable in India

Posted by ESHA AGRAWAL 18 April 2014 12447 Views

To facilitate shooting in foreign locations for film and TV Indian production houses utilizes services of overseas entities, the issue then arises whether these payments are subject to tax in India, in the hands of overseas parties. Endemol