CAclubindia Articles

Refund of unutilized Cenvat Credit - Partial Reverse Charge

Posted by Bimal Jain 07 March 2014 16842 Views

Dear Professional Colleague,Refund of unutilized Cenvat credit to Service Providers providing services under Partial Reverse Charge BackgroundPartial reverse charge mechanism has been introduced w.e.f. July 1, 2012 wherein both service provider and s

Six Easy Step To Reduce Your Tax Liabilities

Posted by CA Vap Patel 07 March 2014 32075 Views

As 31st March is coming closer, everyone is busy in tax planning. There are many illegal way to avoid tax but why to opt for that when you have many other legal way to reduce your tax liabilities.Here are the Six most easy way to counter attack with

TDS on Reimbursement of Expenses to Non-Residents

Posted by MOHIT JAIN 06 March 2014 17630 Views

TDS on Reimbursement of Expenses to Non-Resident To elucidate the concept, considered the following cases from TDS deduction perspective u/s 195 of the Income Tax Act:- Rs. 10 lacs paid as Fees for Technical Services to Non-Resident (NR) and his exp

Recognition Of AS-26 - Intangible Assets, Its Accounting Treatment

Posted by ESHA AGRAWAL 06 March 2014 29557 Views

Being a commerce professional the term Intangible Asset is so common, generally we think intangible asset is that asset which we cannot touch, feel, see etc. so according to this meaning prepaid advances is intangible assets as we cannot feel, touch

Importers issuing Cenvatable invoices requires CE Reg.

Posted by Bimal Jain 06 March 2014 14969 Views

Dear Professional Colleague,Importers issuing Cenvatable invoices require registration under Central Excise & consequential amendments Background:Rule 9 of the Central Excise Rules, 2002 (the Excise Rules) provides the list of pers

Recognition Of Intangible Assets, Its Accounting Treatment

Posted by ESHA AGRAWAL 05 March 2014 27711 Views

Tax Benefit on Housing Loan

Posted by C.S.SAVEESH.K.V. 05 March 2014 38013 Views

(Sec. 24, 80C and 80 EE of Income Tax Act) Repayment of Housing are divided into 2 components1. Repayment of the Principal portion2. Repayment of the InterestSection 80C: Tax benefit on Housing Loan (Principal Amount) The amount paid as Repayment of

How to improve Bank Audit Appointment System?

Posted by CA Nitesh Kumar More 05 March 2014 18232 Views

PRESENT APPOINTMENT SYSTEM: A) Every year, ICAI forward the Bank Branch Auditors Panel to Reserve Bank of India. The said panel was classified into following three lists by RBI:- i. List of auditors stationed at cooling period (applicable to

Practical Aspects of CSR Compliance

Posted by Arpit Shah 05 March 2014 10995 Views

Applicability: If the company has Net Worth of Rs. 500 crore In any of the closure of FY in 2013-14, 2012-13 & 2011-12 Turnover of Rs. 1000 crore Net Profit of Rs. 5 crore Then the compa

One Person Company (OPC) - Pros and Cons

Posted by CA MK Agarwal 22 April 2021 32770 Views

With this new concept, small entrepreneurs can set up a one person company (OPC) without sharing their profit with another individual. They can register with just one shareholder with limited regulatory costs and other requirements.