CAclubindia Articles

ALL OLD CIRCULAR,CLARIFICATIONS WITHDRAWN,NEW CODING DONE CIRCULAR NO 97 DT 23/08/2007

Posted by RAJAN GUPTA 25 August 2007 6476 Views

NEW SERVICE TAX CODING,ALL OLD CIRCULARS,CLARIFICATIONS WITHDRAWN CBEC has issued a circular no.96 dated 23/7/2007 Service Tax.Main heading of the circular is summersied below:1.ALL OLD CIRCULARS ,CLARIFICATION AND COMMUNICATION WITHDRAWNParagraph 6

Complications and Facts of Accountancy

Posted by CA Nikita 23 August 2007 10028 Views

With the opening up of the real-estate industry, there has been an increase in Foreign Direct Investment (FDI) in the sector. According to a report by property consultants Jones Lang LaSalle, an estimated $10 billion foreign investment is expected to

Tax filing isn't easy in India!!

Posted by CA Nikita 23 August 2007 5116 Views

The month of July is associated with the time for filing returns of income by individual taxpayers. The government has recently notified new forms for filing income tax returns. These forms replace the old ones. Any person planning to file her return

Wealth-tax (First Amendment) Rules, 2007

Posted by CA Nikita 22 August 2007 4946 Views

Wealth-tax (First Amendment) Rules, 2007 - Amendments in rule 4A, substitution of rule 4AA and Form DA; insertion of Form DAANotification No. 216/2007 [F. No. 142/11/2007-TPL], dated 7-8-2007In exercise of the powers conferred by section 46 of the We

Draftsman dividing a house

Posted by CA Nikita 21 August 2007 4420 Views

Two issues come up routinely for debate in the context of housing-related tax benefits. Section 54 of the Income-Tax Act, 1961 spareslong-term capital gains from transfer of a residential house fromtax if at least such gains are ploughed back or roll

Tax Planning for the Self-Employed

Posted by Mr. PURNA P 17 August 2007 19232 Views

Tax Planning for the Self-EmployedSelf-employment . . . the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you're self-employed, you'll need to pay your own FICA taxes

AIR DETAIL IN ALL NEW AIR FORMS

Posted by RAJAN GUPTA 14 August 2007 7310 Views

AIR(ANNUAL INFORMATION REPORT) DETAIL IN NEW ITR FORMS WHAT TYPE OF ENTRIES TO BE REPORTED.In all the new ITR(Income Tax Return) forms an information about following transaction has been demanded.And what i observe that person are normally ignoring t

Belated Returns

Posted by Late CA Sampat Jain 14 August 2007 9442 Views

Author/s :Pradip KapasiGautam NayakChartered AccountantsTopic :Return of income filed beyond time1. Issue for consideration :1.1 Every person, being a person specified in S. 139(1), is required to furnish a return of his income on or before the due d

Tax Planning On Income

Posted by Mr. PURNA P 14 August 2007 10691 Views

Tax Planning for Income The goal of income tax planning is to minimize your federal income tax liability. You can achieve this in different ways. Typically, though, you'd look at ways to reduce your taxable income, perhaps by deferring your income or

CONSOLIDATED COMMERCIAL DIGEST (CCD) HIGHLIGHTS

Posted by CA Nikita 13 August 2007 6554 Views

CCD CHAMBERSFind out answers to your queries on the following subjects:Income-taxConversion of partnership into joint stock company under Part IX ofthe Companies Act - Whether liable to capital gains tax? P. 574Liability to deduct tax at source on pa