CAclubindia Articles

BIG GAINS FROM SMALL TOWNS

Posted by Ravikumar.G 27 September 2007 5211 Views

Few days ago when an income-tax raid in Chirkunda, city with a population of little over 39,000 (according to 2001 Census) in Dhanbad district of Jharkhand, yielded a disclosure of over Rs 70 crore of concealed income, it made news only in local dail

Treasury Management

Posted by Ravikumar.G 27 September 2007 10472 Views

TREASURY MANAGEMENT :Treasury Management refers to efficient management of liquidity and financial fisk in business.The responsibilities of Treasury Management include :a) Management of cash, while obtaining the optimum return from surplus funds.b) M

FEMA update and analysis

Posted by CA Nikita 26 September 2007 10961 Views

FEMA - Update and Analysis In this update, we have discussed some of the recent important amendments under FEMA:-Overseas Investment by Venture Capital Funds (VCFs) It is clarified that Domestic Venture Capital Funds registered with SEBI, have been p

MERITS OF ADOPTING GLOBAL ACCOUNTING SYSTEM IN CORE SECTOR

Posted by Ravikumar.G 26 September 2007 6604 Views

Earlier, in most countries, while public sector operators were responsible for construction, operation and maintenance of infrastructure, including toll highways, toll bridges, power plants, water supply plants, airports, sea ports, etc, such infrast

Cheque dishonoured .. wat to do??

Posted by CA Nikita 25 September 2007 6814 Views

DISHONOUR OF CHEQUE- What to Do Q1. What can I do when a cheque is dishonoured for the reason of insufficient funds. What legal action I can take to get the amount cleared?A. On the dishonour of a cheque, one can file a suit for recovery of the chequ

Home Loan the best way to save Tax!!

Posted by CA Nikita 25 September 2007 7048 Views

Home loan the best way to save taxTax planning, a legitimate exercise, should not be confused with tax avoidance or tax evasion. Good tax planning comprises tax compliance and availing proper tax benefits, coupled with proper analysis of the financia

Scepticism on ethics all-pervasive

Posted by CA Nikita 25 September 2007 4822 Views

Whenever in the classroom I discuss contemporary principles and methods for the preparation and presentation of financial statements, with executive and students, I always see discomfort gripping the participants. They express concerns that current p

F A Q ON ITR FORMS BY INCOME-TAX DEPARTMENT

Posted by CMA Gul S 25 September 2007 15387 Views

1. What are the forms that should be used for e-Filing? Answer: The Forms that are currently available for e-Filing for A.Y. 2007-08 are ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, & ITR-8. For A.Y. 2006-07 For A.Y. 2006-07, the e- return could be

Some more Questions on ITR

Posted by CMA Gul S 25 September 2007 11541 Views

31. The assessee who is under presumptive taxation scheme i.e. "no accounts case", what he should write for sundry debtors, sundry creditors, stock in trade, cash balance, gross profit as he may not have all these details since he is not maintaining

Tax Benefits available to Senior Citizens

Posted by Ravikumar.G 25 September 2007 4242 Views

There are not many Exclusive deductions available to senior citizen . A person becomes senior citizen under Income Tax Act in any year after attaining the age of 65 even for one day. Once he attains 65 years, his status as senior citizen in that FY,