Popular Articles

Practical Application of CARO, 2015 (through FAQs)

Guest 20 August 2015 at 10:22

The Ministry of Corporate Affairs, on 10th April, 2015, notified the Companies (Auditor's Report) Order, 2015 (CARO, 2015). The text of the Order is available on the following URL http://www.mca.gov.in/Ministry/pdf/Companies_Auditors_Report_Ord

Section 80C simplified. (A summary view)

CA. AJAY PANCHARIA 13 July 2015 at 10:45

DEDUCTION UNDER SECTION 80 C F.Y. 2014-15(A.Y. 2015-16)(AN INVESTMENT LINKED DEDUCTION) 1. LIMIT:With effect from 01-04-2015 the maximum allowable limit is extended to Rs.150000 from the previous Rs.100000.2. MAJOR INVESTMENT AREAS: Followi

Projected audit score and analysis of May 16 Audit paper

CA Ravi Taori 07 May 2016 at 12:33

Exam days are busy days both for students & professors. Doubt solving, morale boosting, last minute tips and so on. 6th May was a similar day as we had CA Final Audit Paper. I was anxious how will be paper, how ICAI will surprise this time as the

Proposed amendments in Budget 2012-13 in Taxation-Part 1

Amit Bajaj 17 March 2012 at 13:01

RATES OF INCOME-TAX after Budget 2012 presented on 16.03.2012 A. Normal Rates of tax: 1. Where the total income does not exceed Rs. 2,00,000/-. Nil 2. Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/- 10 per cent of the

Complete Guide to Custom Exchange Rate

Ritika Agarwal 09 July 2020 at 14:57

The custom exchange rate is used in filing the shipping bill and bill of entry. The exchange rate is the value of one country's currency in relation to author currency.

Recent Changes in Service Tax

Madhukar N Hiregange 22 April 2014 at 12:04

Introduction Service tax is a levy on provision/rendition of service in India. Chapter V of Finance Act, 1994, introduced Service tax in India and it came to force from July 1994. Finance Act, 1994 is the only parent

EXAM PREPARATION TIPS

CA CS CIMA Prakash Somani 16 September 2009 at 11:41

EXAM PREPARATION TIPSFor many people, exam time is the most stressful part. With so much riding on the outcome, there can be a high degree of pressure to perform well. Here are some exam preparation tips to help you.Getting StartedThe earlier you sta

Restriction of Input Tax Credit to 20% - Breakdown

CA GAUTHAM RAJ 02 November 2019 at 13:54

MOF vide notification no. 49/2019 - Central Tax dated 09th October, 2019 vide powers conferred on central government under section 164 of Central Goods and Services Tax Act, 2017, through CGST (Sixth Amendment) Rules, 2019, has inserted sub-rule (4) in rule 36 on Documentary requirements and conditions for claiming Input Tax Credit.

Rate changes of Key items by GST council

Mayur 07 October 2017 at 11:23

ST implementation is a huge transformation and will definitely take time span on 1 to 2 years before being stabilized.

Capitalization of Borrowing Cost

CA Prashant Gupta 15 May 2013 at 12:22

In this competition market mostly business work on borrowed funds. Finance has the work to arrange and utilize the funds. But after this Q is raised, when this borrowing cost will be capitalized and when it is charged to revenue. AS-16 deals with th