Popular Articles

Sec. 36(1)(iii) and principle of commercial expediency

C.A. Mohit Mittal 24 December 2014 at 12:29

Section 36(1)(iii)- Principle of Commercial expediency As per Sec 36(1)(iii), Deduction shall be allowed for The amount of interest paid in respect of capital borrowed for the purposes of business or professionFor the purpose of claim

FAQ on Service TAx

Manish Khatri 06 January 2011 at 14:26

SERVICE TAX FREQUENTLY ASKED QUESTIONS 1. General 1.1. What is Service Tax and who pays this tax? Servi

Profit & Loss account during Construction Period mandatory?

CA Kishore Tallam 28 May 2010 at 17:58

Many times, we see that many companies which are in startup stage i.e. during construction period and before it is ready for commencing commercial operations do not prepare Profit and Loss Account for the year / period and the total expenditure incu

Eligibility of input tax credit with respect to Motor Vehicle

Nilesh 09 September 2017 at 11:06

Section 17 of the Central Goods and Service Tax (CGST) Act deals with Apportionment of credit and blocked credits, wherein Clause (5) of the said Section provides for restriction of credit

GST Services exempted w.e.f October 1, 2021

Bimal Jain 04 October 2021 at 09:39

CBIC has further amended Notification No. 12/2017-Central Tax (Rate) dated June 28, 2017 ("Services exemption notification"), in order to adhere to the recommendations of the 45th GST Council Meeting.

Taxing Job Work

CA. Rayan Sequeira 06 October 2007 at 16:15

The Indian Taxation system is spreading its wings so wide that it is hard to find a trading or service activity not falling under the ambit of indirect taxation. However the Government has encouraged small enterprises like job workers, to operate on

Cross Border Leasing

Harsh Thakrar 19 September 2016 at 11:04

The article provides an insight about the cross border leasing and its legal implications

Highlights of Companies (Cost Records and Audit) Rules 2014

CMA Ramesh Krishnan 05 July 2014 at 13:23

Highlights of Companies (Cost records and audit) Rules 2014Introduction: Ministry of Corporate Affairs has notified the Companies (Cost records and audit) Rules 2014 under section 148 & 469 Companies Act 2013 on 30th June 2014. These rules have l

Manpower supply prior or Post 1st July, 2012

Bimal Jain 30 July 2012 at 11:01

Whether employees sent on deputation to subsidiary/ associate companies amount to manpower recruitment or supply service before or after 1st July, 2012 Citation : 2012-TIOL-855-CESTAT-DEL Appellant (s) : ITC Ltd Respondent (s) : Commission

Most Frequently Asked Questions by CA students and their answers

CA Prakhar Jain 05 January 2016 at 12:23

Greetings to all fellow 'Future Chartered Accountants'.I would like to share that the institute has compiled a list of Frequently asked questions in 'National Conventions/Conclaves' of CA students and their answers.These quest