CAclubindia News

Scrutiny Norms..a study..!

20 August 2007 at 00:49

Computing the income chargeable to tax as per the provisions of the Income-Tax Act, 1961 is the first step in tax compliance. The natural sequence thereafter would be filing the return of income and awaiting approval of the tax authorities in respect

Posted in Income Tax | 1 comments | 13890 Views

CBDT PAVES WAY FOR SHORT SELLING OF SHARES !

19 August 2007 at 23:07

The Central Board of Direct Taxes (CBDT) has clarified that lending and borrowing of shares for short selling in equities will not attract capital gains tax. With this clarification one of the important hurdles in the way of permitting short selling

Posted in Others | 2586 Views

Frequenlty asked questions on MEF

19 August 2007 at 12:35

Q 1 - UCN -Not Allotted I have been allotted a Unique Code Number ( UCN) but, when I download the application, UCN field is appearing with the words 'NOT ALLOTTED'. What do I need to do ? Ans The Applicant needs to fi

Posted in Audit | 7527 Views

BAN ON 'ULIP'.....!

19 August 2007 at 07:20

The Insurance Regulatory and Development Authority of India (IRDA) has banned unit-linked insurance plans (ULIPs) in which charges are based on a complex structure, making it difficult for policyholders to comprehend. Such products in insurance parla

Posted in Others | 3108 Views

RBI considering the 'plastic' for the use of printing currency!

19 August 2007 at 00:04

The Reserve Bank is considering the use of long-lasting and more durable plastics for printing currency notes, to replace paper notes that have a shorter life. "The bank is deliberating upon the option of bringing in plastic currency which can be a m

Posted in Others | 2223 Views

I-T dept moves SC against ruling on taxing foreign firms !

18 August 2007 at 23:53

The Income Tax Department has moved the Supreme Court against the ruling by a quasi-judicial body which held that foreign firms are not liable to pay tax on assignment amount charged from their Indian subsidiaries if contracts are signed outside the

Posted in Income Tax | 2412 Views

ENTRY FOR ICAI AWARDS FOR EXCELLENCE IN FINANCIAL REPORTTING

18 August 2007 at 03:54

ICAI has started acceping entries for the EXCELLENCE IN FINANCIAL REPORTTING awards for the FY 2006-07 Annual Report.Entry form is available on the institute website.Last date for submission is 30th September,2007.

Posted in Accounts | 3411 Views

Articles enhancement notification finally arrives

18 August 2007 at 02:07

Notification - Enhancement in Entitlement of Articled AssistantsTo download the same click on the link belowhttp://www.caclubindia.com/files_display.asp?files_id=974

Posted in Career | 4107 Views

Compulsory Articleship in ICWA

17 August 2007 at 10:37

The Institute of Cost and Works Accountants of India (ICWAI) is all set to mandate a three-year articleship against thesix-monthatpresent. ICWAI newly-elected president Chander Wadhwa told FE that the governing body has decided to go for a longer tra

Posted in Career | 2 comments | 44007 Views

Massive increase in efiling

16 August 2007 at 08:09

E-filing of income tax returns is likely toincrease sharply to 3 million in the current financial year (2007-08),up from around 322,000 in 2006-07. Non-corporate assessees, whose accounts are auditedunder Section 44AB of the Income Tax Act, are

Posted in Income Tax | 3789 Views