CAclubindia Articles

Believe Yourself

CA Suraj Lakhotia 03 September 2010 at 13:32

"Think twice before you take up Chartered Accountancy.. Its a five years commitment.. easy to get in but difficult to get out" these words were told to a student who had just topped the district.. I was just sixteen then.. just a kid. The

Do you know how the 'Central Bank of India' was found?

Durga Rao 03 September 2010 at 13:30

I know that many students in this country aim high despite their family background, financial strength, family commitments and plethora of other disadvantages

Income Tax Saver Fixed Deposits : Must Know Facts

CMA. Subhash Kumar Jha 03 September 2010 at 13:30

Income Tax Saver Fixed Deposits : Must Know Facts During 2005, banks were losing key investments due to thinning popularity of fixed deposits due to frequent reduction in interest rates. The fixed deposits which were giving interest rates up to 1

Highlights in Direct tax code for Salaried Individuals

CMA Ramesh Krishnan 03 September 2010 at 13:26

Highlights in Direct tax code for Salaried Individuals Scope of Income from employment: As per the DTC Bill 2010, the Gross salary includes all of the following 1. Any sum received from the employer under employment 2. Any allowance for

Basic concept on Wealth Tax

Suresh Prasad 03 September 2010 at 13:26

Wealth Tax Basic Concept Applicability: whole of India from 1st April, 1957. Chargeability: On net Wealth of individual, HUF & Company @ 1% in excess of Rs. 3,00,000 on Valuation Date. Valuation Date: 31st march immedi

Direct Tax Code : Lost the original Glitter while Moderation

CMA. Subhash Kumar Jha 01 September 2010 at 16:46

Direct Tax Code : Lost the original Glitter while Moderation ! In the year 2009, Government had announced the adoption of Direct Tax Code (DTC) from 01/04/2011. This announcement had created a big hype everywhere, be it individual or corporate s

Long Form Audit Report - LFAR

Anish Lakshman S 31 August 2010 at 13:37

Long Form Audit Report - LFAR Documents required to be kept in Audit file for Peer Review purpose 1. Cash Retention Limit duly certified by the Branch Manager; 2. A certificate from the Branch Manager stating that the excess cash holding is being re

Suggestions on Draft Point of Taxation Rules

M B Abhyankar 31 August 2010 at 11:16

Board deserves thanks from taxpayers for advance intimation & invitation for suggestions in respect of Point of Taxation rules that would be made applicable for charge of service tax. These Rules can provide useful inputs in the process of d

We Are Proud To Be CA Students !!!

Anish Lakshman S 30 August 2010 at 12:50

Dear friends, I write this article not just to post simply something for the sake of making a contribution to the site. But I want to ensure that any person who gets to reads this should from at least then, feel and respect his/her profession. Every

Burder on so called "ORDINARY MAN" of Inflation by GOVERMENT

Kunal 30 August 2010 at 12:15

There was a day when ORDINARY people used to bring the vegetables that even a poor person can afford with ease & burden less at a price of just Rs. 5/- to Rs. 6/- per Kg, but today the same ORDINARY people is getting at a price ranging between R