CAclubindia Articles

Minor / Minority and capacity to contract - An analysis

Posted by Alok Rudra 22 April 2021 4772991 Views

Under Section 11, a minor is a person who has not attained the age of 18 years. The age of the majority of a person is regulated by Section 3 of the Indian Majority Act, 1857.

Inventory write downs vis-a-vis Rule 3 (5b) of CCR

Posted by Manoj Pala 03 August 2011 14449 Views

Inventories are measured at the lower of cost or net realizable value (NRV). If the NRV falls below the recognized costs pf an inventory item, the respective inventory items must be measured. Inventory write-downs should reflect the estimated loss i

GST: Impact on the Poor

Posted by Nagesh Bajaj 03 August 2011 12752 Views

GST is a destination based consumption tax. Consumption taxes are regressive in nature. It increases the gap between the rich and the poor.

NRI's can't claim concessional tax rate u/s 115H for interest

Posted by CA. Anuj Gupta 03 August 2011 81850 Views

Recently Madras High Court in the case of Dr. M MANOHAR(Appeal No 759 of 2004) decided an important question Whether the interest on the deposit made out of the interest income also qualified for concessional rate as the investment income de

SARFAESI Act'2002: Boon For Banks Curse for Borrower

Posted by CA. Vikash Dwivedi 03 August 2011 27244 Views

THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSESTS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 SARFAESI Act, as the name of the act suggests, deals with 3 matters: Securitisation [Sec 2 (1) (z)] Reconstruction of Financial Asset [Sec

Judicial Pronouncements

Posted by khushbu darak(CWA) 03 August 2011 8435 Views

Some More Important judicial pronouncements under Service Tax 1. Whether erection and Commissioning of tower parts through engagement of employees shall be termed as Manpower Recruitment and Supply Agency Services? Facts: Sh

" 7 Days to go " - Go for it guys

Posted by SANYAM ARORA 03 August 2011 21669 Views

A Very good Evening to all the members of CCI Family............................!!!!!!! Today I want to speak something very special for all the students of PCC/ IPCC STUDENTS. So friends just 7 D

Impact of Organization Culture on Internal Controls

Posted by Sonia Jaspal 01 May 2021 13256 Views

The COSO defines Internal Control as a process, effected by an entitys board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories: ef

Technology and Humanity

Posted by Nabeel 02 August 2011 5918 Views

TECHNOLOGY AND HUMANITY Hello Friends, This time I came with a new article Technology and Humanity. Technological advancement is increasing day by day. It is good for us to have technologies but it has some effect on youth as well as h

Can NRI/PIO Claim Exemption on Transfer of Bonus Shares

Posted by CA. Anuj Gupta 02 August 2011 6170 Views

We all know that cost of Bonus shares is NIL as per sec. 55(2)(aa)(iii) of the Act and in normal circumstances , the gain on transfer of Bonus shares shall be fully taxable in the hands of seller. However , Income Tax Act