Good morning. Dear friends, Boom !!! Boom!! Boom!!! Markets celebrate 1st day of new financial year with a bang! Only a dimwit from political circle or a maniac from terrorist club or mother nature’s fury could really dampen the markets now. There is nothing other than these 3 factors which could lead to a major [...]

In one of the moves in the budget, the notification no. 59/98 dated 16th October 1998 was withdrawn by notification no. 2/2006 with effect from 1st March 2006. The development has astonished the entire community of Chartered Accountants, Costs and Works Accountants and Company Secretaries. As a result of the withdrawal of the notification, all [...]

With changing times, internet has come accross as a amazing channel for communication to reach people at large for providing information as well as interaction with them. Nowadays lot many information are published by the departments so that public has an easy access to it. Recently making a similar move, the Income tax department has [...]

Forum4CA – A unique discussion platform for the Chartered Accountants, Company Secretaries, Cost Accountants and geeks of finance, audit and taxation. Forum4Ca can boast of being Indias first ‘BLOG’ of its kind. A ‘Blog’ where its members can put forwrad thier views and ideas of their interest. Blogging is going to be the next big [...]

I have observed while working that we executives spend 14th of our average working day over the phone either attending or making calls. Tele-talking or telecon is an important part of our working schedule. The importance of the Graham Bell’s invention cannot be ignored in todays business world as it has made the world come [...]

The Finance Bill 2006 has been passed by the Lok Sabha today. Consequently, certain changes have been made in the direct and indirect tax provisions of the Bill. Details of these changes are as under:/strong> Direct Taxes Clause 16 of the Finance Bill, 2006 proposed that deduction under Section 80C of the Income-Tax Act shall [...]

The Finance Minister in its budget removed the exemption granted to the CAs/ICWAs and CS from paying the service tax by withdrawing an exemption notification. This action of the Finance Minister raised strong dissent amonst our community of CAs/ICWAs/CSs. The Chartered Accountants contended that why are they being brought under the ambit of service tax [...]

Eyes were set on the hearing of the Supreme Court on the demolition issue which was to be held on 20th March. The SC asked MCD to act fast on removing all shops and commercial establishments from the indentified locations. SC further rapped MCD for its double standards. MCD seems to different stands on the [...]

There was a time in our country that the foreign exchange reserves were so thin and depleted that our government could never think of even partial convertibilit of rupee. People could not buy shares or assets outside the country such stringent were the regulations. With time, the foreign exchange reserves have increased much attributable to [...]

I could hear many of complaining us chartered accountant freinds complaining about the very low audit fees for the audit of a cooperative bank. The audit fees for a co-operative bank was as low as Rs 10000 irrespective of the size of the bank. But now many of us have a reason to rejoice as [...]