CAclubindia News

Professionals cannot claim Sec 32 tax benefit::SC

30 November 2007 at 17:05

NEW DELHI: The Supreme Court said on Tuesday professionals cannot claim depreciation under Section 32 of the Income Tax Act. The Section is applicable to an assessee carrying on business and not to a professional, the apex court said, dismissing an a

Posted in Income Tax | 10 comments | 17688 Views

CPT results to be declared on 30th Nov

28 November 2007 at 19:04

The result of the Common Proficiency Test held on 4th November 2007 is expected to be declared on Friday, the 30th November 2007 around 12 Noon and the same as well as the merit list (candidates securing a minimum of 60% and above marks and upto the

Posted in Students | 7986 Views

'ONE PERSON COMPANY' MAY APPEAR SOON ::

27 November 2007 at 08:41

The draft Companies Bill, 2007, has proposed a new entity called a one-person company (OPC) as a measure to provide start-up entrepreneurs and professionals the much- needed flexibility in setting up a business in India. The onerous compliance req

Posted in Corporate Law | 1 comments | 16119 Views

Supreme Court UPHELDS AS 22

21 November 2007 at 08:04

Apex court upholds new accounting standardsNew Delhi November 21, 2007The Supreme Court has upheld the revised accounting standards AS 22 issued by the Institute of Chartered Accountants of India which has been made mandatory for all the companies li

Posted in Accounts | 2 comments | 14844 Views

150,000 salaried individual taxpayers will have to re-file their returns

17 November 2007 at 19:03

Nearly 150,000 salaried individual taxpayers will have to re-file their returns for the 2007-08 assessment year, as their returns went up in smoke during a recent fire in the income-tax office at Mayur Bhawan in Connaught Place. The October 6 inciden

Posted in Income Tax | 4 comments | 20967 Views

Online refunds to cover the whole country soon

16 November 2007 at 00:22

The Income Tax Department is planning to extend the Refund Banker Scheme to the entire country as a move aimed at expediting refund of excess tax. The scheme, launched in Delhi and Patna in March this year, was later extended to Kolkata, Chennai, Ban

Posted in Income Tax | 1 comments | 5871 Views

Admission to Final CA (Old) Course !!

09 November 2007 at 09:31

Ancmnet/BOS/227/47/2007 Attention of the students is invited to para (v) of the Announcement: Ancment/BOS/227/06/2007 dated February 7, 2007 appended below. It is clarified that students who have registered for three years of articles with the date o

Posted in Students | 2 comments | 17619 Views

Now its the turn of CAs!!!

07 November 2007 at 10:45

After IT professionals and management graduates, it is now the turn of Chartered Accounts (CAs) to reap the fruits of globalisation in the form of increasing opportunities abroad. Major companies across the globe are actively hiring CAs from India.Th

Posted in Career | 3 comments | 21738 Views

Option to an entity to adopt alternative treatment in AS 15 - by ICAI

06 November 2007 at 21:58

An amendment by way of limited revision to Accounting Standard (AS) 15, Employee Benefits (revised 2005), has been made with a view to provide, inter alia, an option to an enterprise to charge additional liability arising upon the first application o

Posted in Accounts | 9207 Views

ICAI proposes dual taxation structure for GST roll-out

06 November 2007 at 01:13

The Institute of Chartered Accountants of India (ICAI) on Monday recommended that Goods and Service Tax (GST), proposed to be implemented from 2010, should have dual tax structures at the Centre and state levels.The GST is expected to create a common

Posted in GST | 2 comments | 12390 Views