CAclubindia Articles

Reassessement under Income Tax Act

Posted by Amit Bajaj 29 January 2010 18228 Views

The power of assessement or reassessement of any income chargable to tax that have escaped assessement has been provided under secton 147 r w s 148 of Income Tax Act of 1961.If the assessing officer has the reason to believe that any income charga

Client Focus - Key to Success

Posted by Madhukar N Hiregange 29 January 2010 22204 Views

Client Focus- A key to Success Madhukar N Hiregange FCA & Roopa Nayak ACA Introduction: It is not uncommon to hear that the client is unwilling to pay the fees or delays the same inordinately. Even that all services in all taxes, advisory is a

EASY ECONOMY to a COMPETITIVE ECONOMY (series 1)

Posted by Indraneel Sen Gupta 29 January 2010 4444 Views

This year again we will see this same picture on 26th of Feburary 2010.Lots of hope and fate in that briefcase.Along with this US budget is also about get on the table within a next week followed with many countries budget. But we are already witness

SECTION 43(6) V. SECTION 45(1A)

Posted by Pavan Jain S 28 January 2010 39955 Views

CA Pavan Jain S, ACA., grad CS.Taxability of a receipt is governed by section 2(24) of the Income Tax Act (hereinafter referred to as “Act”) which define the term “Income”. In ordinary parlance, the term income connotes a rec

Hard nut to crack -Service tax refund claim

Posted by Pradeep Jain 28 January 2010 12421 Views

Hard nut to crack -Service tax refund claim Prepared By:

deduction u/s 80-IA of income tax act, 1961

Posted by CA Anshu Agarwal 28 January 2010 225134 Views

3.1 Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. [Section 80-IA]3.1.1 Applicability: where GTI includes any profits and gains derived from eligible business.

Failure is not final?

Posted by Durga Rao 28 January 2010 18422 Views

Looking at CA results and imagining at the pain of my dear students who could not complete their course, I just want to expose my views on failures and want to emphasize that failure is common in everyones life, but, handling it makes all th

No TDS on Service Tax Component

Posted by CA Pankaj Galhotra 28 January 2010 135647 Views

NO TDS ON SERVICE TAXWith the advent of service tax, an interesting question has arisen whether tax is deductible at source under the IT Act even in respect of the service tax component of the pro

Transfer Pricing

Posted by CA Prashant Gupta 28 January 2010 23227 Views

Transfer Pricing Sometime an Indian company can associated with a foreign company which is situated in other country. Indian company can purchase on high price or sale it on lower price to shift its profit. In this way a part of profit is transferre

Submitting to stupid rules

Posted by Sharangdhar 27 January 2010 11623 Views

As I walked down towards home one day, I heard someone calling my name. I turned back to see who was there. It was an old friend of mine walking briskly towards me. He had a heavy bag on his back. "Relax. What are you doing out here at this time