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CA Prashant Gupta

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Clarification on Reverse Charge Mechanism

Service Tax : The main question arise whether the service providers whose gross turnover is less than Rs. 10 lacs has to registered with service...

September 10, 2012 9362 Views 0 comment Print

Reverse Charge Mechanism of Service Tax

Service Tax : Reverse charge mechanism is not a new concept in service tax. Under the reverse charge mechanism, instead of service provider, the...

August 13, 2012 60959 Views 29 comments Print

Change In Filling Form 23B- An Overview

Company Law : Every statutory auditor appointed by the company in the Annual General Meeting under section 224(1) of the Companies Act, 1956 in ...

July 22, 2012 26729 Views 0 comment Print

Ideal Work Place of a Chartered Accountant

CA, CS, CMA : When you start your own practice, the first thing comes into mind is that why the office should be? Whether we require a small spa...

April 9, 2012 19200 Views 6 comments Print

Commodity Market – For Beginners

Finance : Today, we know the commodity market as a place to trade the different commodities without taking delivery of same. You can trade i...

April 2, 2012 1111 Views 0 comment Print


Latest Posts in CA Prashant Gupta

Clarification on Reverse Charge Mechanism

September 10, 2012 9362 Views 0 comment Print

The main question arise whether the service providers whose gross turnover is less than Rs. 10 lacs has to registered with service tax if they provide services mentioned under reverse mechanism.

Reverse Charge Mechanism of Service Tax

August 13, 2012 60959 Views 29 comments Print

Reverse charge mechanism is not a new concept in service tax. Under the reverse charge mechanism, instead of service provider, the service receiver is liable to pay service tax. In that case, the service receiver will register himself with service tax authorities and file the required returns. The general exemption of Rs. 10 lacs is not available for that. T

Change In Filling Form 23B- An Overview

July 22, 2012 26729 Views 0 comment Print

Every statutory auditor appointed by the company in the Annual General Meeting under section 224(1) of the Companies Act, 1956 in form 23B has to intimate whether he has accepted the appointment or not to the concerned Registrar of Companies, within 30 days of the intimation received from the company by the auditor. Till date the form is uploaded free of cost and in lots of cases the auditors does not bother to file the form and intimate the concern ROC even it is free of cost procedure. While filling of Form 23AC where there is space for SRN of Form 23B, they used the SRN Z99999999 or any other SRN that does not exist.

Ideal Work Place of a Chartered Accountant

April 9, 2012 19200 Views 6 comments Print

When you start your own practice, the first thing comes into mind is that why the office should be? Whether we require a small space or should be start with a larger space! Where it should be situated, in the mid of the town or a crowed place or a separate place will work?

Commodity Market – For Beginners

April 2, 2012 1111 Views 0 comment Print

Today, we know the commodity market as a place to trade the different commodities without taking delivery of same. You can trade in gold, silver, crude oil, agriculture products, metals and many more, without bothering about the perishable nature of commodity, place to store and security. When the commodity market was established, its purpose was to find a fair price and better market to agriculture products. In present era, the commodity market is mainly used by investors to earn the price differences in the commodities.

Are Directors Liable To Service Tax And Tax Audit As Per Union Budget 2012-13?

March 20, 2012 15920 Views 0 comment Print

Till the date of budget, there is always confusion on treatment of director’s remuneration. There is conflict about whether it is salary income or it is a business income chargeable under the head business and profession. In this union budget, we have got a new clause u/s 194(J) that is 194(J)(1)(ba) that defines Any remuneration or commission paid to director of the company are liable to tax deduction at source at the rate of 10%. In my point of view, this will end the debate on TDS liability on director remuneration.

Risk Based Internal Audit

March 11, 2012 1550 Views 0 comment Print

Parallel to the great upsurge another factor that hunting the board room of the corporate are “Risk”. There can be any type of the risk whether it is liquidity risk, fraud risk, reputation risk, competition risk and sundry other risks. Thus the internal audit profession has witnessed a sea change in the era, a change from traditional typical ‘compliance’ or ‘transaction’ audit to the much more dynamic and interest based ‘Risk based audit’. It can be also define as control assessment or control rationalization. It is much more different from the traditional internal audit, which is just related to compliance and bothers the employees of the organization as it is not give any productivity or return to the organization or auditee. Now a day, the internal audit is turned in to risk assessment mechanism which provide analysis of risk evolved in any business activity. Along with that it also refers to the assessment of the control and rationalization of the authorities. It involve whether the proper person has a proper job.

Human Resource Accounting Meaning, Need & Focus

January 17, 2012 8286 Views 0 comment Print

Human resource accounting is one of the emerging areas of the Indian accounting industry. As we all know, any organization cannot survive if it does not have the human assets. Specially in today’s IT era, its employees are most important assets of the organization. In the financial accounting, we record every assets of the organization in monetary term at historical cost. When we consider our employees as our greatest assets, the question arise, can we account for these assets? At which value? How this value will be calculated? Are there any standard for recording the value of human resource?

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