CAclubindia Articles

Requirement for maintaining books of account

Posted by CA Anshu Agarwal 11 March 2010 35784 Views

Maintenance of accounts: [section 44AA and rule 6F] In case of specified professions [Gross receipts exceeds Rs.150000…] : the followings books of accounts shall be maintained by a person carrying on the specified profession:-

"Eligible" covers Non-eligible also

Posted by Pradeep Jain 10 March 2010 12771 Views

Prepared By: CA Pradeep Jain and Sukhvinder Kaur, LLB Introduction: This year the Budget 2010 announced on 26.02.2010 has given benefits to Small Scale Units. These benefits have been given not only to those units which are availing the small sc

Budget 2010-11 - Levying Service Tax on Medical Services

Posted by CA Pradip Shah 10 March 2010 23357 Views

Budget 2010-11- Levying tax on Medical Services - The Case of Delivering a Deformed Baby By CA. Pradip R Shah e-mail: pradip@pradiprshah.com Introduction 1.0 In order to evaluate applicability of the provision of a statute levying tax, one is

Shares transfers - the litigation?

Posted by Durga Rao 09 March 2010 7273 Views

Share transfers: We all know the settled law that the Private Company can have restrictions in its Articles restricting the right of its shareholders in transferring the shares. There can not be any such restriction in the articles of Public C

Depreciation - an interesting aspect

Posted by Pavan Jain S 08 March 2010 34066 Views

Depreciation – a non cash expenditure allowed under Income Tax Act, 1961 following block concept. Under the block concept, all the assets falling within the same class and subject to same rate of depreciation are clubbed together and considere

KVAT Amendments

Posted by Pavan Jain S 08 March 2010 31475 Views

Major Changes in Karnataka Value Added Tax Act, 2003 effective from April 1, 2010: · VAT exemption on paddy, rice, wheat, pulses and products of rice and wheat extended for one more year from 1.4.2010. · Tax on M

Implication Budget 2010 on Business Income

Posted by CA Pramod Jain 08 March 2010 9230 Views

Tax Rates Tax rate for firms, LLP and companies remain the same as per last year's budget. • However surcharge in the case of domestic company gets reduced from existing 10% to 7.50% for the Financial Year 2010-2011. &bu

Arbitration Mechanism - corporate disputes?

Posted by Durga Rao 08 March 2010 11290 Views

Unless there is an express bar under law and when there is an arbitration agreement either express or implied, a dispute between or among the parties can be referred to an Arbitrator or panel of Arbitrators as specifically agreed to. As everybody kn

Post Budget - CA Sudhir Halakhandi

Posted by CA Sudhir Halakhandi 08 March 2010 9882 Views

BUDGET-2010 AN OVERVIEW OF IMPORTANT DIRECT TAX PROPOSALS- CA SUDHIR HALAKHANDI The union finance Minister Mr. Pranab Mukharjee has presented

Dividend Stripping u/s 94(7) of Income Tax Act

Posted by CA. Rishabh Mittal 08 March 2010 136011 Views

Dividend Stripping - Section 94(7) Suppose Record Date for Dividend / Income - 31.01.2010 Acquisition of Shares / Units of MF – Within 3 months prior to the record date (01.11.2009 till 31.01.2010) Sale or Transfer of ·