CAclubindia Articles

Constitutional (97th Amendment) Act, 2011

Member (Account Deleted) 20 December 2012 at 11:01

[1] Cooperative societies is a state subject under Entry 32 of the State List of the Seventh Schedule of the Constitution. All states have accordingly enacted their own Cooperative Societies Acts for incorporation, regulation and winding up of c

Service Tax on supply of food at Restaurants

saurabh jain 20 December 2012 at 11:01

Service tax on Supply of food at Restaurants It is said that some things which seem to be very authentic may not be always correct. This is same which is happening with issue of Service tax on supply of food in restaurants. Internet is equal f

All about Depreciation

Prince Kumar Baranwal 20 December 2012 at 10:56

What is depreciation? Depreciation as per law of lexicon is defined as positive decline in the real value of a tangible asset because of consumption, wear and tear or obsolescence. The concept of depreciation is widely used for the purpose of writin

Penalty under Rule 27 for Technical Lapses? No Way

D R Pandit 20 December 2012 at 10:55

Rule 27 of Central Excise Rules 2002, is generously used for penalizing technical lapses. Many subscribe to the view that when penalty is imposed under Rule 27 for say, delayed filing of Returns, the penalty is payable. With due respect to all those

Deemed Dividend

KARTIKEY 18 December 2012 at 11:29

DEEMED DIVIDEND Deemed dividend under section 2(22) from an Indian company or any dividend from a foreign company is taxable in the hands of shareholders under the head Income from other sources, regardless of the fact whether shar

Cases on Income Tax decided by Supreme Court and High Courts

Raju S Narayanan 18 December 2012 at 11:29

Some of the case laws on Income Tax decided in the month of Nov2012: 1. Where assessee continued his employment with the firm, and was also given commission under Non-Compete Agreement ('NCA') for doing what he was normally ex

When to start planning for retirement?

Ramalingam K 17 December 2012 at 11:44

A question to be questioned: When a person should become health conscious? After becoming sick or before becoming sick or always There are some questions like this, though at the sub-conscious level we know the answer, our conscious mind s

The Role of short term sensations in the long term investment

Ramalingam K 17 December 2012 at 11:44

In the digital age, the current affairs reach our living room 24*7. The power of internet and social media makes the news and rumours spread like a wildfire. Because of this information overload we become so focused on details that we begin to ignor

Prosecution & cheque dishonour - New View

v. srikanth 17 December 2012 at 11:44

Section 138 of the Negotiable Instruments Act, 1881, deals with the consequences of dishonour of cheque for insufficiency , etc., of funds in the account. The provision provides for punishment with imprisonment for a term which may extend to 2 yea

Section 50C - A detailed analysis

Kailash Mehta 17 December 2012 at 11:44

Applicability of Section 50C to sale of immovable property by Builders and sale of immovable Property in block of assets. 1. INTRODUCTION: The generation of black money is major problem in India. Various committees were formed and number of suggesti