CAclubindia Articles

MAT - Tax on Gross Assets- Whether fair and logical?

Hiral Raja 25 August 2009 at 11:33

Under the erstwhile Income Tax Act, 1961, MAT was levied u/s. 115 JB on book profits. The idea of levying MAT on book profits was to ensure that the entity pays tax at least on book profits even though the tax payable by it under the Income Tax Act c

Internal Audit of Sub Con Dept of Engg Cos

Vikas Kalyanshetty, ACA 24 August 2009 at 13:59

Sub Contractor: A subcontractor is hired by a general contractor (or prime contractor) to perform a specific task as part of the overall project. The most common concept of a subcontractor is in building works and civil engineering. The incentive to

Law of Arbitration - Company matters?

Durga Rao 24 August 2009 at 13:59

In order to reduce the delay in courts and in the process of traditional adjudication mechanism, the Alternative Disposal Mechanism (ADR) was mooted. The dispute resolution through Conciliation, Arbitration and Mediation etc., is regarded as a

Procedures for Incorporation and Registration of Companies

Ankur Garg 24 August 2009 at 13:58

A company is a voluntary association of persons formed for the purpose of business activities. A company has distinct name and limited liability, it is a juristic person having a separate l

Budget Amendment- Impact

Madhukar N Hiregange 22 August 2009 at 12:20

Budget Amendments- Service Tax – 1st September 2009CA Madhukar N Hiregange & CA Vinay K.V. It is the practice followed in every budget by our Honorable Finance Minister to expand the scope (coverage) by introducing new categories of

International Tax Compilation Terminologies

Jinesh Bhagdev 22 August 2009 at 12:18

Economies are coming closer & closer due to globalization. Number of cross-border transactions has increased. Cross border transactions have led to a dynamic change in the system of taxation. New issues have aroused due to different styles of bus

Drafting agreements?

Durga Rao 21 August 2009 at 12:37

In day-to-day commercial transactions, we will enter into many agreements or contracts. While certain agreements are prepared mechanically and get executed, certain other agreements require careful consideration of many things. For e

An investing secret thats hard to follow

Equitymaster 21 August 2009 at 12:37

'Be fearful when others are greedy and greedy when others are fearful' says Warren Buffett. 'Buy low and sell high' is supposed to be the classic and simple formula for beating the stock market. Well, if it is indeed as easy as it sounds, the intrigu

IAS 39 HEDGE ACCOUNTING ( IN A DIFFERENT FORMAT )

CA Lalit Mohan Agarwal 21 August 2009 at 12:37

IAS 39 Financial Instruments: Recognition and Measurement Issued in March 1999 Revised in December 2003 Recent amendment: by IFRS 3 revised in January 2008 Financial Instruments

Job Work Under Central Excise

Madhukar N Hiregange 20 August 2009 at 13:19

JOB WORK UNDER CENTRAL EXCISEBy Madhukar N Hiregange (FCA, DISA)& Srikantha Rao T (B.Com, ACA) Job work is one of the most important aspects that a manufacturer registered under Central Excise should be familiar with not just because it enables