CAclubindia Articles

cash loan !!!!!!! AIDMK

Posted by CA Nikita 26 June 2007 9312 Views

CHENNAI, JUNE 25, 2007 : VEAI NNIRADNirmala was a heartthrob ofTamil cinema and a favourite of MGR. She took a loan of Rs. 4,65,000from the AIDMK in cash and was awarded a sentence of two yearsRigorous Imprisonment in addition to a fine of Rs.4,65,00

Audit thyself

Posted by CA Nikita 21 June 2007 7987 Views

On the face of it, the information and broadcasting ministry's proposal to ask television channels to appoint auditors is a good one. It keeps the government off the channels' backs, and there will not be incidents of the type where the I&B minis

Rivalry in professional services

Posted by CA Nikita 21 June 2007 6115 Views

Restricted service fields can gain the most through freer rules for competition The institutional structures of a modern economy owe much to the learned professions-such as the accountants, lawyers, engineers and architects. Upon these professions re

Get online, not in line, to pay tax

Posted by CA Nikita 21 June 2007 6017 Views

Paying taxes has never been simpler with the authorities introducing the mechanism of online payment. The use of electronic means to deliver services is not only an efficient and speedy process, but it also facilitates a transparent process for disse

DDT as I-T must be added to 'book profit' while computing MAT

Posted by CA Nikita 21 June 2007 8235 Views

The increase in the dividend distribution tax (DDT) rate in the Finance Act 2007 was viewed sceptically by the industry. The levy of minimum alternate tax (MAT) on the IT sector, which is enjoying tax deduction under section 10A/10B of the Income Tax

The Global warming - How bad it is for India

Posted by tarun 20 June 2007 6616 Views

The Global warming - How bad it is for India The fact that it is the first time that I am using the channel to write about some thing which has nothing to do with taxation , itself implies the seriousness of the issue and how it concerns us all . It

Valuation of related party transactions by taxmen, SERVICE TAX

Posted by CA Nikita 20 June 2007 12509 Views

Pricing of cross border supplies of goods and services assumes significance for the purpose of determining customs duties thereon and also for ascertaining the income tax liability of the person undertaking or receiving cross border supplies. It ther

Distinction between shares held as stock-in-trade and shares held as investment - tests for such a distinction

Posted by CA Nikita 20 June 2007 14618 Views

Distinction between shares held as stock-in-trade and shares held as investment - tests for such a distinctionCIRCULAR NO. 4/2007, DATED 15-6-2007 The Income Tax Act, 1961 makes a distinction between a "capital asset" and a "trading asset".2. Capital

Income Tax Rules providing tax exemption to charitable and religious entities modified

Posted by CA Nikita 20 June 2007 9155 Views

June, 14th 2007Charitable and religious entities -Amendments to rules providing tax exemption The Ministry of Finance explained the relevant changes made to the Income Tax Rules 1962 that provided tax exemption to charitable and religious entities. T

Of deemed dividends and accumulated profits

Posted by Guest 18 June 2007 12845 Views

The concept of deemed dividend postulates two factors, whether thepayment is a loan and whether on the date of payment there isaccumulated profit.Closely-held companies having accumulated profits in whichsubstantial voting power lies in the hands of