CAclubindia News
TDS likely to be restructured soon
24 April 2007 at 08:21The system of tax deduction at source (TDS) could be expanded furtherto include more business under its domain. This means more types ofbusiness will have to deduct the tax, before making payments to parties.The revenue department is also considering
FBT cutoff: Esops get April Fool's Day surprise
24 April 2007 at 08:21COMPANIES hoping to escape the fringe benefit tax (FBT) on employeestock option plans (Esop) by allotting shares to their employees aheadof the government notification are in for a rude shock. The tax will beapplicable from April 1, 2007, and, theref
More I-T scrutiny round the corner
24 April 2007 at 08:20The trading community may soon come under greater income tax scrutiny.The finance ministry is likely to conduct income surveys based onaddresses picked up from trade directories. According to officialsources, the move would boost revenue collection a
Confusion over service tax
24 April 2007 at 08:19Annual Supplement To Foreign Trade Policy: The Day After Aday after the Annual Supplement to the Foreign Trade Policy 2004-09 wasunveiled, confusion prevailed over a key pronouncement related toservice-tax benefits for the Indian exporters. At a CI
CAs can train more article clerks
24 April 2007 at 08:18The Institute of Chartered Accountants of India (ICAI) has raised the entitlement of training articled assistants. This means that the number of students for articleship training under a practising Chartered Accountant (CA) will now be increased. Wit
Useful CA final notes for May 07
18 April 2007 at 01:57LAST MINUTE REVISION NOTES ON MICShttp://www.zshare.net/download/lmr-mics-1-doc.html(revision material)AUDITING NOTEShttp://www.zshare.net/download/auditing_notes-doc.html(160 pages doc file- 1.1 MB, open read only)SUMMARY OF TAXABLE SERVICEShttp://w
Tenant needs a TAN to live here
06 April 2007 at 05:10LIKE residents, many non-resident Indians (NRIs) too have found the lure of investing in real estate irresistible. This has happened despite the fact that it is a herculean task for these NRIs to maintain their vacant apartments. Individuals who take
HC sees red over 1-day I-T notice
06 April 2007 at 05:09A division bench of the Bombay high court on Monday lashed out at the income tax department for having allegedly recovered TDS dues from an assessee within a day of serving a demand notice.The assessee's plea for two days to reply on the recovery pro
Stock options must be taxed at employee level
06 April 2007 at 05:08Industry chamber FICCI has urged the Finance Ministry to amend the budget proposal of imposing Fringe Benefit Tax (FBT) on employee stock options (ESOPs) at the hands of the employer. Instead, ESOPs should be taxed only as perquisites or capital gain
Capital gains tax on deals similar to Hutch
06 April 2007 at 05:07The I-T department, which believes that Hutch-Vodafone deal falls under the capital gains tax ambit in India, may scrutinise similar transactions.Transfer of beneficial interest of any asset in the country was liable to capital gains tax, a departmen
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