CAclubindia Articles

Wealth Tax: Taxes on your wealth!

Posted by Garvit Dave 29 December 2012 32659 Views

Wealth tax is a direct annual tax, payable every year like your direct taxes. It is another type of direct tax by which tax is imposed on individuals coming within its purview. Pensioners, retired persons or senior citizens have not been accorded

Cheque Truncation System: Digitisation in Banks

Posted by R. Sudarshan Bala 28 December 2012 31440 Views

CHEQUE TRUNCATION SYSTEM: A TOOL REQUIRED FOR DIGITISATION IN BANKS As we all know the environment around us is highly dynamic and volatile which necessitates continuous updation and improvement in order to survive competitively. The

Alimony and Tax Implications

Posted by Manish Negi 28 December 2012 14842 Views

Meaning of Alimony Alimony or maintenance is a U.S. term signifying a legal obligation to provide financial support to one's spouse from the other spouse after marital separation or

The Burning Desire- Part II - The world of IPCC

Posted by CA Mihir Kulkarni 27 December 2012 26141 Views

The world of IPCC Hello Friends, Its been nice to meet you again. I was thinking about the second difficult level of ICAI exams i.e. IPCC, and the various problems faced by CA students during the course. It is o

Beware! Mis-selling Season Ahead!

Posted by Prof. Bajaj 27 December 2012 10661 Views

After coming back from his vacation, Sidhesh Tulange, a 33 year old Software consultant, logged into his office computer to make the first statement, Oh No !! I forgot to submit this before going to vacation. The HR department has re

Clubbing of Income: An essential part of Tax Filing

Posted by Garvit Dave 09 April 2021 19512 Views

Now that we know the scenarios which lead to clubbing of income, we could efficiently work around this very premise to save taxes. There is a fine line of difference between tax saving and tax evasion, spilling over from one to another could mean

Master Circular on Audit System issued by Government

Posted by gokul rathi 27 December 2012 54522 Views

We are aware that every year, on 1st July, the Reserve Bank of India comes out with Master Circulars on various subjects which consolidate all the instructions on the subject issued throughout the year. 102 such Master Circulars have been issued b

What is Salary | How to Calculate TDS on Salary

Posted by @VaibhavJ 24 April 2020 1064816 Views

TDS on salary is computed on Salary under section 192. TDS on salary is computed on the estimated annual salary of the employee at the rates in force in the FY

Concept of Internal Audit - A Spoon Feeding

Posted by CS Amit Kumar 26 December 2012 40647 Views

Concept of Internal Audit - A Spoon Feeding When we run an enterprise we be too busy in getting the goals or loosing the goals and become biased for the reason of success or failure. If we get success we think that we were strong and if we fail

Some Common Errors in Service Tax

Posted by Madhukar N Hiregange 26 December 2012 29814 Views

Service tax was introduced recently as compared to Central Excise Act and Customs Act. It has been seeing a lot of changes every year. The chance of the assessees (especially those who