CAclubindia Articles
Wall Street - The fall of the wall.
The US once more became the lender of last resort for its banks and industries battered by the subprime crisis, extending a $85 billion bridge loan to global insurer AIG. Immediate danger averted, the American banking system is now in unchar
Expenditure on website development
Expenses on Development of Website : Capital or Revenue in nature Expenses on Development may be treated as Revenue Expenditure. Enduring benefit is not the only criteria for determining whether the expenditure is of capital or revenue nature. The r
AS 26 Accounting for Intangibles : A review with respect to Patents and Trademarks
AS 26 Accounting for Intangibles : A review with respect to Patents and TrademarksMore often brands created are not recognized in the Balance Sheet. Companies invest huge amounts in advertisement and sales promotion which were earlier treated as def
CREDIT OF RESIDENCE LANDLINE, MOBILE ALLOWED
Change is inevitable and so are the clarifications and statements issued by the Ministry of Finance, which at times change more colours than a chameleon. In 2003, the Central Board of Excise and Customs, vide its Circular No. 59/8/2003-S.T., dated 2
SEZ OVERRIDES SERVICE TAX
The Central Government has been always known for the internal inconsistency between the Commerce and Finance Ministry. Both the Ministries have their own agendas and conflict of interest which is the root cause for all such Ambiguities. The Ministry
CURRENCY FUTURE: A Step into Future
CURRENCY FUTURE: A Step into FutureBy Preeti Modi, B.Com. ICWA, ACA.E-mail : preetimodi_ca@yahoo.co.inIt was very proud day on 29th August, 2008 for NSE (National Stock Exchange) when Finance Minister inauguratesa new financial services product - Cu
Tax on SIxth Pay Commission Arrears in FY 2008-09
Dear Friends , In this post we discuss various aspects of the tax due of arrears received /allowed to the Govt employees in light of Income tax rulesArrears to be given on the basis of sixth pay commission Report As per sixth pay commission the rep
Return of Income & Procedure of Assessment
Sec 139(1): submission of return of income* Being a co. or a firm(even those co’s whose entire income is exempt u/s 10, etc)* Being a person other than co, firm 1) if his total income or 2) total income of any other person in
Dos and Donts at interviews
Dos and Donts interviewsA proper interview can get us the job. There are a number of things we need to be prepared with before facing the interview. The following are a few dos and donts .1. Do check the advertisement.2. Ensure you meet
Enjoyment and Exemptions To Private Limiteds in INDIA
Exemptions To Private Limited Companies 1) Financial assistance can be given for the purchase of or subscribing for its own shares or shares in its holding company - Sec. 77 (2). 2) Further shares can be issued without passing a special resoluti
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