CAclubindia Articles

Beware Dealers Claiming Input Tax Credit

CA Saiyum khan 02 May 2012 at 11:22

One of my clients has received the demand notice from the Commercial Tax Department of Gujarat for payment of VAT against wrong claim of Input Tax Credit. On scrutinizing the relevant documents of input tax credit it was found that Tax Invoice was i

'Tenancy Rights' and action under SARFAESI Act, 2002?

Durga Rao 02 May 2012 at 11:22

Banks used to take advantage of the provisions of SARFAESI Act, 2002 earlier in taking possession of the secured asset even when the tenant was in possession of the property. Absolutely, there is no difficulty in taking the possessio

Deferred Tax in Simple Words - PART II

Vignesh Killur 02 May 2012 at 11:22

The Day is 1st of April 2001; the Indian Accounting Fraternity is introduced to the concept of Deferred Tax. Accounting for Taxes on Income (AS 22) is applicable to different categories of enterprises from different dates. TABLE 1.

Institutional Placement Programme (IPP)

Victor J uruvath 02 May 2012 at 11:21

Foreword The article intends to study the provisions of Institutional Placement Programme (IPP) - a recently introduced mode of raising additional capital, in order to comply with minimum public shareholding

The Indians' Craze For Gold

Tony John 30 April 2012 at 11:47

Gold is a precious metal which is well-known for its shiny, yellow colour. It got its name 'gold' from an Anglo-Saxon world 'gelo', which means yellow. On the other hand, in Chemistry, it has been

Capital Gain - Part 1

Manish Kumar Agarwal 28 April 2012 at 11:20

UNDERSTANDING TAX ON CAPITAL GAINS WITH LATEST CASE LAWS: PART - I Taxation of Capital Gain is the most disputed subject amongst all major tax disputed subjects. Generally, the capital gain tax not comes to every assessee and it may come in hi

How to face Inspection u/s 209-A of the Companies Act,1956?

G S Rao 28 April 2012 at 11:20

Introduction I am overwhelmed by the response of the readers to my previous articles on Inspection and Investigation. It motivated me to continue the series. I felt that it would be more appropriate, if I cover the preparatory steps to face inspec

It's 3 Hours Examination which matters

CMA Raveendranath 28 April 2012 at 11:19

It gives me great pleasure to write articles on topics which helps students in better performance in exams. Out of my experience, both in professional practice and as a trainer for professional course, I feel that there is a wide gap between student

An insight into Point of Taxation Rules, 2011

vandana 27 April 2012 at 10:43

Introduction Details: a. Notified vide Notification No. 18/2011 dated March 1, 2011 and Notification No. 25/2011 dated March 31, 2011. b. Effective from April, 2011, option to implement from July, 2011. c. The Point of Taxation Rules are for d

India Downgraded - Needs Policies

Indraneel Sen Gupta 26 April 2012 at 11:06

WRITING ON THE WALL.NOW BEING HEARD. The writing was on the wall and now its being heard. The country's weakening debt profile and sluggish investment climate has blown the trumpet of Indian economic prospects. Well the downgrading