CAclubindia Articles
Partial reverse charge in the case of firms
Partial reverse charge mechanism on manpower supply if service receiver is a firm As per the provisions of reverse charge mechanism on manpower supply it is applicable only in the cases, where the service receiver is a body corporate.The word body c
Simple Process to raise capital for unlisted companies under new Company Law
A. A Pvt Ltd is having two members, Mr A & Mrs A. Co wants to raise Rs 2 Lakhs by issue of equity shares. Mr A & Mrs A do not want to invest further. Even Mrs A wants to sell some shares. However, Mr C wants to invest in the Company. It is
Black Money - Income Tax weapon of Search & Seizure becoming Stingless!
Today, I intend to discuss the most powerful and intrusive tool of Search & Seizure that the Income Tax Department possesses. In fact, in general public perception, the Income Tax Department is better known for its 'raids' on corporate ho
Demand of Tax vs Pre Deposit
"Taxation should not be a painful process for the people. There should be leniency and caution while deciding the tax structure. Ideally, governments should collect taxes like a honeybee, which sucks just the right amount of honey from the flow
No ST on Deputation of employees on cost-sharing basis
Deputation of employees on cost-sharing basis does not fall under Supply of Manpower Services We are sharing with you an important judgment of the Honble High Court of Gujarat in the case of Commissioner of Service Tax Vs. Arvind Mills Ltd. [(
Tips to handle Costing subject in Professional Exams
Dear Students, I am sure you all are eagerly waiting for your May 2014 CA attempt result. So first of all I would like to convey my best wishes to you. Further it is also a fact that November 2014 exams are approaching and it is high time for us to s
Grossing up of Dividend for distribution tax - increase in effective Dividend Distribution tax rate of 3.47%
The Finance (No.2) Bill, 2014 proposes to levy pidend distribution tax by grossing up the pidend payable for the purpose of computing liability towards pidend distribution tax. As per the existing provision of Section 115-O pidend distribution tax at
PSF, PFY and Tow- Ache din aa gaye hai
There was litigation on the point of taxability of ‘Tow’ which is an intermediate product in the manufacturing of Polyester Staple Fiber (PSF) and Polyester Filament Yarn (PFY) manufactured from plastic waste or scrap or plastic waste in
Procedures for Conversion of Private Company into OPC
Dear Professional Colleagues, Procedures for Conversion of Private Company into One Person Company (OPC) are regulated by Rule 7 of Companies (Incorporation) Rules, 2014. Before going through the procedure it is necessary to understand about the conc
Salman Khan gets a kick
In a recent decision pronounced by Honble ITAT (Mum) on 30-07-2014 in case of Salman Khan vs. ACIT wherein the assessee had claimed various legal expenses incurred for defending himself in various criminal proceedings pending in the court. The
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