CAclubindia Articles
Sweeping away GAAP
Sweeping Away GAAPFASB's Herz calls for a national plan to wean U.S. companies from their current rules-based accounting system.Marie Leone, CFO.comOctober 01, 2007At an industry conference Friday morning, Financial Accounting Standards Board chairma
Depreciation on leasing
Depreciation on leasing? An ageing puzzleUnder the Income Tax law, two most important conditions for tax depreciation claim pertain to ownership and usage of the asset. As is the case on any other contentious matter, history is replete with judicial
Revenue tries to pierce the corporate veil
Revenue tries to pierce the corporate veil In the recent past, controversy in relation to taxability of offshore sale or transfer of security in a foreigncompany (offshore special purpose vehicle (SPV)) has been consuming the energy of taxpayers and
Income Tax - Modern History of Income Tax
The Income Tax history in modern India dates back to 1860. In this year first Income Tax Act was introduced and which remained in force for a period of 5 years. This Act lapsed in 1865. Thereafter Act-II of 1886 was in force. This Act of 1886 was the
Seven Meeting Etiquette Rules Not To Forget
Business meetings are held for a variety of reasons, but one common characteristic is the sharing of information with others. As in dining, there are rules of etiquette that go along with meetings. I cannot believe the number of times I have been to
Some Facts for Tax Provisions
1. Before we discuss the interpretation of 'beneficial provisions', it will be interesting to consider some basic rules of interpretation as laid down by the Supreme Court in its pronouncements viz. :(1) Legislative intent should be considered, henc
Some issues with Annual Information Return and Income-tax Return
S.285BA of the Income-tax Act (Act) read with Rule 114E of the Income-tax Rules (Rules) requires certain specified persons to file Annual Information Returns (AIR) every year. Income-tax Return Forms, ITR - 1, 2, 3 and 4, applicable to Individuals/H
Profitable Trading In The Forex Markets
The basis behind using technical analysis is to find trends when looking at the forex charts and be aware of when they first develop so you can ride the trend until it ends. The foreign exchange market is a very strong trending market, lots of ups an
Careful while investing- Mr. FM
NEW DELHI: As Sensex continued its upward march on Friday, touching a new high of 17,361.47 points before closing at 17,291.10, finance minister P Chidambaram urged investors to adopt a cautious approach. "My advice to investors is that they should d
AS 17 likely to change with convergence
Dolphy D'Souza The Institute of Chartered Accountants of India (ICAI) recently decidedthat Indian Accounting Standards will be fully in line with the IFRS(International Financial Reporting Standards) from April 1, 2011. Thechange from Indian GAAP (Ge
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