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Friday, December 11, 2009

[Chartered_accountant] Service Tax on renting of Immovable property

 

Dear Friends
 
My client is an Individual having a land. The said land is letted out @ rs. 100000/- per month. Total yeraly income comes out to be Rs. 1200000/-. is he liable to charge Service Tax. He is not individually registered under Service Tax.
 
Kindly advise
 
Thanks and Regards
Bhawna


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Thursday, December 10, 2009

[Chartered_accountant] How to set up liasioning office for UAE Based Company

 

Dear All,

One of my UAE based clients wants to start real estate consultancy businees in India. They are going to give franchisee to around 100 people all over India. What is the best way to operate in order to minimise tax burden and ensuring smooth outflow of profit from India to UAE.

If they set up a branch / company in India, what are the legal/tax implications?
If their Dubai based company enters into Franchise agreement with an India company and set up a liasioning office in India, What are the legal/tax implication?

Kindly reply at your earliest.

Thanking you in anticipation

With Warm Regards 

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[Chartered_accountant] sales of property not having in b/s

 

Dear Sir,
 
Mr.x get a immovable property after his father death in 2008. He cannot give that effect in return of 08-09 due to lack of knowledge. Now he want to sale that property, kindly advice what will be the tax implification and entry in account
thanking you


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Re: [Chartered_accountant] Partnership - Query

 

Reply :-
1. It is not compulsory to register a Firm before apply for PAN, TAN & Service Tax Registration.  It is optional & if a firm wants to register it can get itself registered after obtaining PAN Number
 
2. As Service tax registration is based on PAN you have to first obtain PAN Number and then only apply for Service Tax registration.
 
Thanks,
Dinesh N


From: mayurgosar <mayurgosar@yahoo.co.in>
To: Chartered_accountant@yahoogroups.com
Sent: Sat, 5 December, 2009 6:44:50 PM
Subject: [Chartered_accountant] Partnership - Query

 

Dear Members,

I have a few query regarding partnership firm,

1. Is it complusory to register a partnership firm for applying for PAN , TAN and service tax registration ?

2. Can i register for service tax only after getting PAN ?

3. What is the procedure, fees & documents required for registration of partnership firm in Mumbai

4. Is there any capital gain applicable if properitory firm is taken over by a partnership firm.

With Warm Regards
Mayur Gosar
9833626277



The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.

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Wednesday, December 9, 2009

[Chartered_accountant] New audit report and return format under UP VAT

 

Dear Friends,
 
Would request you all to send the new audit report format under UP VAT and related notification.
 

With best regards,

CA brajesh agarwal
9818623388 (m)

 

 

 

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RE: [Chartered_accountant] Domain name

 

Hi Sandeep,

 

The guidelines are as under and also available at the Institute’s website (http://www.icai.org/post.html?post_id=1958 )

 

GUIDELINES FOR PERMITTING THE CHARTERED ACCOUNTANTS/FIRMS OF CHARTERED ACCOUNTANTS TO POST THEIR PARTICULARS AT WEBSITE

 

As you are aware, under Clause (6) of Part I of the first schedule to the Chartered Accountant Act, 1949, the members are prohibited from soliciting clients or professional work either directly or indirectly by circular, advertisement, personal communication or interview or by any other means. The Council laid down its guidelines/directions for posting the particulars on website by Chartered Accountants in practice and firm(s) of Charted Accountants in practice. The same are published in para (n) under the said Clause (6) of Para I of the First Schedule to the Chartered Accountants Act, 1949 at page 63-68 of the Code of Ethics, 2001 edition.
Recently, the Council considered to revise the sub-Clauses (8) & (20) of the existing website guidelines and decided to modify them on the following lines:

"(8) Display of Passport size photograph is permitted."
in place of existing sub-Clause
"(8) No photograph of any sort are permitted."; and
"(20) The Website may provide a link to the Website of ICAI, its Regional Councils and Branches and also to the Websites of Govt./Govt. Departments/Regulatory authorities/other professional bodies, such as, American Institute of Certified Public Accountants (AICPA), the Institute of Chartered Accountants of England & Wales (ICAEW) and The Canadian Institute of Chartered Accountants (CICA)."
in place of existing sub-Clause
"(20) The Website may provide a link to the Website of ICAI, its Regional Councils and Branches and also to the Websites of Govt./Govt. Departments/Regulatory authorities. Except the neither link to nor information about any other Website is permitted."

The revised guidelines in full are as under:

"(n) Website

The Council at its meeting held in January, 2001 approved the detailed guidelinesfor posting the particulars on Website by Chartered Accountants in practice and firms(s) of Chartered Accountants in practice.Further, the Council at its meeting held in July, 2003 amended sub-clauses (8) & (20) of the said guidelines in full issued by the Council are as under:

1. The Chartered Accountants and/or Chartered Accountants' Firms would be free to create their own Website subject to the overall guidelines laid down by the Council hereunder. The actual format of the Website is not being prescribed nor any standard format of the Website is being given to provide independence to the Members. There is no restriction on the colours which may be used in the Website.

2.Individual Members would also be permitted to have their Webpages in their trade name or individual name.

3.The Chartered Accountants and/or Chartered Accountants' Firms would ensure that their Websites are run on a "pull" model and not a "push" model of the technology to ensure that any person who wishes to locate the Chartered Accountants or Chartered Accountants' firms would only have access to the information and the information should be provided only on the basis of specific "pull" request.

4.The Chartered Accountants and/or Chartered Accountants' Firms should ensure that none of the information contained in the Website be circulated on their own or through E.mail or by any other mode or technique except on a specific "pull" request.

5.The Chartered Accountants would also not issue any circular or any other advertisement or any other material of any kind whatsoever by virtue of which they solicit people to visit their Website. The Chartered Accountants would, however, be permitted to mention their Website address on their professional stationery.

6.The following information may be allowed to be displayed on the Firms'/Members' Websites :

  1. Member/Trade/Firm name.
  2. Year of establishment.
  3. Member/Firm's Address (both Head Office and Branches)
    Tel. No(s)
    Fax No(s)
    E-mail ID(s)
  4. Nature of services rendered (to be displayable only on specific "pull" request)
  5. Partners

Partners Name

Year of Qualification

Other Qualifications

Tel. No.
Off.-Direct
Res.
Mobile
E-mail address

Area of
Experience
(to be
displayable
only on
specific
"pull"
request)

  1. Details of Employees -

Professional

Others

Name

Designation

Area of experience (to be displayable
only on specific "pull" request)

  1. Job vacancies for the Chartered Accountant/firm of Chartered Accountants (including articleship)
  2. No. of articled clerks. (to be displayable only on specific "pull" request)
  3. Nature of assignments handled (to be displayable only on specific "pull" request). Names of clients and fee charged cannot be given.

7) Since Chartered Accountants in practice/firms of Chartered Accountants are not permitted to use logo with effect from 1st July, 1998, they cannot use logo on Website also.

8) Display of passport size photograph is permitted.

9) The members may include articles, professional information, professional updation and other matters of larger importance or of professional interest.

10) The bulletin boards can be provided.

11) The chat rooms can be provided which permit chatting amongst members of the ICAI and between Firms and its clients. The confidentiality protocol would have to be observed.

12) The members/firms can provide on line advice to their clients who specifically request for the advice whether free of charge or on payment.

13) The listing on suitable search engine should be permitted. However, the field of search should be restricted only to the field of "Chartered Accountants" or "CA" or "Indian CA", "Indian CPA", "Indian Chartered Accountant" or any permutation or combination related thereto. The Websites would be subjected to the guidelines contained herein and normally would not be vetted by the Institute of Chartered Accountants of India (ICAI). ICAI at its sole discretion may vet any of the Websites created by its members or individual Chartered Accountant or firms of Chartered Accountants and would have powers to direct deletion of certain portions and/or issue specific directions. In addition, necessary action can be taken in accordance with the Chartered Accountants Act, 1949 and the Regulations framed thereunder, in case there is any violation of the above guidelines.

14) The details in the Website should be so designed that it does not amount to soliciting client or professional work or advertisement of professional attainments or services. In case any content or technical feature of Website is against the professional Code of Conduct and Ethics as well as the restrictions contained in the schedules to the Chartered Accountants Act, 1949 or against the guidelines or directions issued by ICAI from time to time, appropriate action will be initiated by the ICAI in terms of its disciplinary mechanism either suo-motu or on complaint as provided under the Chartered Accountants Act, 1949.

15) The Website should ensure adequate secrecy of the matters of the clients handled through Website.

16) A number of Chartered Accountants Societies or other bodies are creating data-bases of Chartered Accountants or Chartered Accountants' Firms and are offering listing to Chartered Accountants. Such listing would be permitted with or without payment. In case a Chartered Accountant or Chartered Accountants' Firm is a member of a professional body or association or Chamber of Commerce and they offer listing to the members or firm, the same would be permitted.

17) The Institute of Chartered Accountants of India will regularly inform the aforesaid guidelines to the members and the Chartered Accountants' Firms to ensure the strict compliance of the guidelines. The guidelines may be revised from time to time.

18) No Advertisement in the nature of banner or any other nature will be permitted on the Website.

19) The Website should be befitting the profession of Chartered Accountants and should not contain any information or material which is unbecoming of a chartered accountant.

20) The Website may provide a link to the Website of ICAI, its Regional Councils and Branches and also to the Websites of Govt./Govt. Departments/Regulatory authorities/other professional bodies, such as, American Institute of Certified Public Accountants (AICPA), the Institute of Chartered Accountants of England & Wales (ICAEW) and The Canadian Institute of Chartered Accountants (CICA).

21) The address of the Website can be different from the name of the firm. But it should not amount to soliciting clients or professional work or advertisement of professional attainments or services. The Website address should be as near as possible to the individual name/trade name, firm name of the Chartered Accountant in practice or firm of Chartered Accountants in practice. The Committee on Ethical Standards & Unjustified Removal of Auditors (CESURA) of ICAI will decide in case there is any difficulty.

22) The address of the Website should be intimated to the ICAI within 30 days.

23) The Website should mention the date upto which it is updated and the information should not be at material variance from the information as per the ICAI's records.


A number of non-Chartered Accountants' firms, corporates including banks, finance companies and newspapers have set up their own websites providing advisory services on taxation and other areas where Chartered Accountants are rendering professional service. Some of such websites may request Chartered Accountants or Chartered Accountants' firms to provide consultation and advice through their websites. This would be permitted subject to the condition that on the website, contact address of the Chartered Accountant concerned is not provided nor such website will contain any material which advertisesprofessional achievements or status of such Chartered Accountant except making a statement that they are charterd Accountants. The name of Chartered Accountants' firm with suffix "Chartered Accountants" would not be permitted."

 

 

----------------------
Kapil Malhotra

ACA, DISA (ICAI), LLB

WARNING -This e-mail, including any attachments, is for the personal use of the recipient (s) only. Republication and re-dissemination, including posting to news groups or web pages, is strictly prohibited without express prior consent. If you are not the intended recipient of this e-mail you are requested to delete it and its contents.

P  Please consider the environment before printing this e-mail
"Where I was born and where and how I have lived is unimportant. It is what I have done with where I have been that should be of interest." - Georgia O’Keeffe.

 

From: Chartered_accountant@yahoogroups.com [mailto:Chartered_accountant@yahoogroups.com] On Behalf Of Sandeep bapuli
Sent: 01 December 2009 13:01
To: Chartered_accountant@yahoogroups.com
Subject: [Chartered_accountant] Domain name

 

 

I want to create my Own Domain name , pls let me know the process and code with ICAI .

 

 

Regards

 

 

Sandeep bapuli

 

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[Chartered_accountant] URGENT: Capital Gain or Business Income‏

 

Dear Sir,
 
Request you to provide me few DETAILED case laws for deciding whether transactions in shares and securities is trading (business income) or investment in nature (capital gains), where it has been decided that the same are Capital Gains only.
 
Request your immeidate guidance & help in this matter, if possible.
 
Thanks & Regards,
 
CA Nimesh Doshi


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[Chartered_accountant] Thought of the day

 
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Monday, December 7, 2009

[Chartered_accountant] Thought of the day

 

"Some men have thousands of reasons why they cannot do what they want to, when all they need is one reason why they can."

- Willis Whitney

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[Chartered_accountant] Business process & Controls in Banking

 

Hi All,

 

Can anyone share few business process and controls in Banking Industry.

Also, it will be great if you can share atleast the major section/ division for these process / controls for e.g.

 

1)    New Account opening process

2)    Loan origination

 

Thanks for your help.

 

 

Regards

CA Vivek Kumar Jain

CA, DISA(ICAI, CIA(USA), CISA(USA)

 

http://groups.yahoo.com/group/CACSCWA

 

 

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CA.Hitesh Gupta wants to stay in touch on LinkedIn

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Sunday, December 6, 2009

[Chartered_accountant] Thought of the day

 
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[Chartered_accountant] KVAT rate for Rice?

 

Dear All
 
Can you help me what is tax rate applicable to rice in karnataka?

--
| CA. Chikkerur Chidambar R |
  CHARTERED ACCOUNTANT

Kamala Nilaya| #30 | Ground Floor |18th Main | Vijayanagar | Bangalore - 560 040 | India |
Mobile: 98443-17480 | India Tel (Direct): +91 80 23154952 | E Mail : chidu_11@yahoo.com|

Website: www.chikkerur.co.in

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[Indian_CA_and_Tax_Advisors] system makes $65000 a month

 

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[Chartered_accountant] CA firm - whether registration under Shop Act required

 

Hi All,

 

Pls let me know whether for CA firm, registration under Shop & Establishment act is required?

 

If I need to open a bank account in my proprietorship firm name, the bank officials need certificate of opening business under Shop & Establishment act .

 

Pls advise.

 

 

Regards

CA Vivek Kumar Jain

CA, DISA(ICAI, CIA(USA), CISA(USA)

 

http://groups.yahoo.com/group/CACSCWA

 

 

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Saturday, December 5, 2009

[Chartered_accountant] Any feedback on Institute's training program on Finacle CBS Audit

 

Hi All,

 

I am planning to attend ICAI’s training program on Finacle CBS Audit. Members who had attended this program earlier, pls provide feedback.

 

Whether the program is useful in understanding Finacle CBS features & audit functionalities.

 

 

Regards

CA Vivek Kumar Jain

CA, DISA(ICAI), CIA(USA), CISA(USA)

 

http://groups.yahoo.com/group/CACSCWA

 

 

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[Indian_CA_and_Tax_Advisors] double your sales - download it FREE

 

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[Chartered_accountant] Partnership - Query

 

Dear Members,

I have a few query regarding partnership firm,

1. Is it complusory to register a partnership firm for applying for PAN , TAN and service tax registration ?

2. Can i register for service tax only after getting PAN ?

3. What is the procedure, fees & documents required for registration of partnership firm in Mumbai

4. Is there any capital gain applicable if properitory firm is taken over by a partnership firm.

With Warm Regards
Mayur Gosar
9833626277

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.

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Friday, December 4, 2009

[Chartered_accountant] 6 Reasons for the Gold price rise

 

6 Reasons for the Gold price rise:

Dollar crisis: A weak dollar in the wake of the recession has forced people to invest in gold which in the long run would fetch more returns.  Dollar is likely to weaken further leading to a further rise in gold prices.

Inflation: Gold has always been a good tool to fight inflation. Rising inflation rate appreciates gold prices. With inflation rising to record highs, gold will prove to be a safe bet. Gold is a sure shot best bet for hedging.

Economic crisis: Gold has always given high returns over a long term. As the crisis triggered a fall in markets across the globe, many investors wary of investing in stocks or bonds, found refuge in gold. Gold is globally accepted and easily convertible into cash. The recent Dubai World debt, this also affects the prices.

A fall in gold supply: Gold mining is decreasing and the demand for gold is increasing. Gold supply has decreased by almost 40 per cent as the cost of mining, legal formalities and geographical problems have increased which has led to a fall in gold mining.

US interest rates: The interest rates affect gold prices. Whenever interest rates fall, gold prices rise. Lowering interest rates increases gold prices as gold becomes a better investment option.

Festivals: Indians are among the largest consumers of gold. Gold has been used as ornaments and gifted during festivals and weddings.  So there is a huge demand for gold during the festive season.

BUT, Gold prices will settle lower in a period of 6 months from now.

Source: Rediff.com

Best Regards,
- Anand Wadadekar
M.A Economics, MBA, AMFI
Pune

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[Chartered_accountant] Thought of the day

 
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[Chartered_accountant] Financial Reporting - IFRS Applicability

 

Dear All,


Can anybody tell me whether IFRS applicable for student writing May 2010 CA Final Exams? If it so what extent will be applicable?

Reply ASAP...

Thanks in Advance...

--

Best Regards,


Sathish Kumar M

(From: GMail.com)

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Thursday, December 3, 2009

[Chartered_accountant] Very Important Nutrition Information

 





 

 


 

 

BRAIN DAMAGING HABITS

http://mumbaihangout.org/rnd.php

1. No Breakfast

People who do not take breakfast are going to have a lower blood sugar level. This leads to an insufficient supply of nutrients to the brain causing brain degeneration.


2 . Overeating=2 0

It causes hardening of the brain arteries, leading to a decrease in mental power.


3. Smoking

It causes multiple brain shrinkage and may lead to Alzheimer disease.


4. High Sugar consumption

Too much sugar will interrupt the absorption of proteins and nutrients causing malnutrition and may interfere with brain development.


5. Air Pollution

The brain is the largest oxygen consumer in our 20 body. Inhaling polluted air decreases the supply of oxygen to the brain, bringing about a decrease in brain efficiency.


6 . Sleep Deprivation

Sleep allows our brain to rest.. Long term deprivation from sleep will accelerate the death of brain cells..


7. Head covered while sleeping

Sleeping with the head covered increases the concentration of carbon dioxide and decrease concentration of oxygen that may lead to brain damaging effects.


8. Working your brain during illness

Working hard or studying with sickness may lead to a decrease in effectiveness of the brain as well as damage the brain.


9. Lacking in stimulating thoughts

Thinking is the best way to train our brain, lacking in brain stimulation thoughts may cause brain shrinkage.


10. Talking Rarely

Intellectual conversations will promote the efficiency of the brain





The main causes of liver damage are:


http://mumbaihangout.org/rnd.php

1. Sleeping too late and waking up too late are main cause.

2. Not urinating in the morning.

3 . Too much eating.

4. Skipping breakfast.

5. Consuming too much medication.

6. Consuming too much preservatives, additives, food coloring, and artificial sweetener.

7. Consuming unhealthy cooking oil.

As much as possible reduce cooking oil use when frying, which includes even the best cooking oils like olive oil. Do not consume fried foods when you are tired, except if the body is20very fit.


8. Consuming raw (overly done) foods also add to the burden of liver.

Veggies should be eaten raw or cooked 3-5 parts. Fried veggies should be finished in one sitting, do not store.

We should prevent this without necessarily spending more. We just have to adopt a good daily lifestyle and eating habits. Maintaining good eating habits and time condition are very important for our bodies to absorb and get rid of unnecessary chemicals according to 'schedule.'






The top five cancer-causing foods are:



1.. Hot Dogs


http://mumbaihangout.org/rnd.php

Because they are high in nitrates, the Cancer Prevention Coalition advises that children eat no more than 12 hot dogs a month. If you can't live without hot dogs, buy those made without sodium nitrate.




2. Processed meats and Bacon


http://mumbaihangout.org/rnd.php   http://mumbaihangout.org/rnd.php

Also high in the same sodium nitrates found in hot dogs, bacon, and other processed meats raise the risk of heart disease. The saturated fat in bacon also contributes to cancer.




3. Doughnuts


http://mumbaihangout.org/rnd.php

Doughnuts are cancer-causing double trouble. First, they are made with white flour, sugar, and hydrogenated oils, then fried at high temperatures. Doughnuts, says Adams , may be the worst food you can possibly eat to raise your risk of cancer.




4. French fries


http://mumbaihangout.org/rnd.php

Like doughnuts, French fries are made with hydrogenated oils and then fried at high temperatures. They also contain cancer- causing acryl amides which occur during the frying process. They should be called cancer fries, not French fries, said Adams .





5. Chips, crackers, and cookies


http://mumbaihangout.org/rnd.php  http://mumbaihangout.org/rnd.php    http://mumbaihangout.org/rnd.php

All are usually made with white flour and sugar. Even the ones whose labels claim to be free of trans-fats generally contain small amounts of trans-fats.








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[Indian_CA_and_Tax_Advisors] Looking for SEX partner!

 
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Wednesday, December 2, 2009

A Wonderful Spiritual Gift



--
Thanks & Regards
CA Jitender Gupta
01123456244, 9811664559
P Please don't print this Email unless you really need to.

Don't waste time regretting or expecting too much in your life..Yesterday is history.Tomorrow is a mystery.But Today is a gift - and that is why it is called the PRESENT.

[Chartered_accountant] Thought of the day

 
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Tuesday, December 1, 2009

NIRC Elections 2009 : CA Bansal Puneet Kumar Ballot No - 8

Dear Sir,
I hereby take this opportunity to present my very close friend Mr Puneet Bansal's profile before you for the forthcoming Election of the Northern India Regional Council of Institute of Chartered Accountants of India to be held on the 4 & 5 December 2009 in Delhi and on the 5 December 2009 in other cities.
I seek your Precious Vote, Valuable Support & Best Wishes.
With Warm and Personal Regards

CA. Jitender Gupta,




I kindly request your vote, support and best wishes for the forthcoming NIRC Elections (Ballot No. 8)

--
Thanks & Regards
CA Jitender Gupta
01123456244, 9811664559
P Please don't print this Email unless you really need to.

Don't waste time regretting or expecting too much in your life..Yesterday is history.Tomorrow is a mystery.But Today is a gift - and that is why it is called the PRESENT.

[Chartered_accountant] Thought of the day

 
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Re: [Chartered_accountant] Query - Capitalization of Expenses

 

charge to land account because the land is still in the name of firm, when the firm sale the land, the amount automaticaly recovered.

 


From: Aamir Noor <maamir_noor@yahoo.com>
To: Chartered_accountant@yahoogroups.com
Sent: Tue, November 10, 2009 7:59:53 PM
Subject: Re: [Chartered_accountant] Query - Capitalization of Expenses

 

If the business depend on the sale and purchase of the land then it is debited to the land cost otherwise debited to the profit and loss account (as my openion which is seen in your question)
thanks

 


From: Vijay Kalani <cacsvijaykalani@ yahoo.com>
To: vijaykalani1@ yahoo.com
Sent: Wed, November 4, 2009 11:10:50 AM
Subject: [Chartered_accounta nt] Query - Capitalization of Expenses

 

Dear Members
 
My assessee is Partnership Firm engaged in Real Estate & Construction business. Firm is having 6 partners and their capital is Rs. 10,00,000/- each. Total Capital as on 31-03-2008 is Rs. 60,00,000/- and from this capital firm purchase land of Rs. 50,00,000 in the year 2007-08.
 
During the year 2008-09 i.e. on 01-04-2008 two partners retire from the said firm and firm gives them Rs. 17,00,000/- each towards there capital Rs. 10,00,000 and surrender of rights in land Rs. 7,00,000/- each.
 
So whether this Rs. 14,00,000/- paid towards surrender of rights is debited to land account  or What will be treatment of this Rs. 14,00,000/-


With Thanks & Regards


Vijay R Kalani





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Monday, November 30, 2009

[Chartered_accountant] Domain name

 

I want to create my Own Domain name , pls let me know the process and code with ICAI .


Regards


Sandeep bapuli

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[Chartered_accountant] Thought of the day

 

"The greatest use of a life is to spend it on something that will outlast it." 
- William James

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[Chartered_accountant] Internet Safety

 

Internet Safety

Anand Wadadekar, Pune

 

 

Communication today plays a very vital role and more so, communication done through electronic media like internet, cell phones, etc.

 

As the famous quote goes, "A word uttered cannot be taken back", this has now become very much critical in the electronic / internet age. This article speaks about internet security and so would like to construct another quote, which is, "Information given cannot be taken back".

 

We hear almost daily that someone lost money or was cheated due to misuse of personal information on internet or hacking in the email account or stealing credit cards, etc. These unfortunate events can be easily and certainly avoided if we follow simple rules of internet, while transacting or interacting through electronic media.

 

We will see some of the most recommended safety tips:

 

 

Computer Safety:

 

ANTI-VIRUS SOFTWARE-Anti-virus software should be installed on all Internet connected computers. And because new viruses are emerging daily, it is essential to configure your anti-virus software to both check for and update your anti-virus signatures daily.

ANTI-SPYWARE SOFTWARE -The term "spyware" covers a broad category of malicious software designed to intercept or take partial control of a computer's operating system without the informed consent of that machine's owner or legitimate user. All home computers connected to the internet should have a reliable program to scan for the presence of spyware on their computers.

FIREWALLS -A firewall is a protective layer between your computer and the rest of the Internet. There are a number of subscription based products that are offered (McAfee, Norton, Microsoft firewall available with Windows XP Service Pack 2, etc. At a minimum, you should have a software firewall installed on your home computer to prevent an outside intruder from gaining access.

REMEMBER ME:

Unclick or don't click the tick box which asks you to save your login and password. This should be avoided on public computers.

 

 

Online Communications: Email, SMS, Chatting

 

  • Remember never to give out personal information such as your name, home address, school name, or telephone number in a chat room or on bulletin boards. Also, never send a picture of yourself to someone you chat with, unless you know the person or trust the person.
  • Do not meet someone or have them visit you without the permission of your parents.
  • Remember that people online may not be who they say they are. Someone who says that "she" is a "12-year-old girl" could really be an older man.
  • Remember to sign out / logout when you have finished using the email service or any websites in which you have logged in.

  • REPORT SPAM – If you feel that a particular email is from an unidentified person or a weird email address, make sure you report it as 'Spam' in your email.

 

Banking:

PASSWORDS -Your password is the key that allows access to your financial information. Don't use a password that is easy for others to guess e.g. birth dates, social security numbers, mother's maiden name, child or pet names. Instead, use a password that contains a variety of letters, numbers and symbols and change it regularly. Do not tape it to your computer monitor and do not file it in your rolodex under "Password."

ENCRYPTION- If you access your financial accounts through a secure web page with your bank, the information you transmit is almost certainly encrypted. However, email is frequently unencrypted, so even if you access it from a secured web page, be wary of sending sensitive information such as account numbers, passwords and other personal information through email.

DISCONNECT- Always log off properly after you have completed your online business. Follow the secure area exit instructions to ensure the protection of your financial information.

SPAM WITH VIRUSES- Before opening emails or attachments make sure they are free of any viruses or known exploits. The best way to do this is to make sure your anti-virus software is current and scans your email as it is received.

PHISHING- Fraudsters will design fake websites that use a web address deceptively close to that of a genuine business. Their goal is to lure you into giving them personal information, such as your account number and password. The crooks can then put charges on your credit card, steal from your accounts and even steal your identity. Always ensure that you are really on your bank's website before logging on. When in doubt call your bank.

SHARING OF LOGIN INFORMATION – Banks won't ever ask for your login details or your bank account details on email. If you receive such emails, do not reply to them.

 

  

Online Shopping:

 

  • Where possible, use a secure online payment service like Visa, Verisign, PayPal, etc.
  • Use credit cards rather than debit cards.
  • Don't keep your personal or financial information (including account passwords) on your computer. Use removable storage (like a USB stick).
  • Don't give out personal or financial information to vendors over the phone, through the mail, or online unless you are absolutely certain that your contact is legitimate.
  • Try to make all of your online transactions with one credit card, if you have more than one.
  • Keep a record of what you pay for and always check your online purchases off against your statement[s].
  • Always check the privacy policy of any Web site that requests personal details. If the Web site is requesting this type of information and does not have a privacy policy, it is not wise to submit your information.
  • When submitting information online, make sure there is a "lock" icon on the browser's status bar (and that it is "locked").
  • Ensure that while making payment the website name starts with "https" and not "http"… see whether there is a 's' after 'http'.
  • Don't give your account number over the phone unless you've initiated the call. If you've dialed a wrong number, don't give it out at all.

 - Anand Wadadekar



Regards,
Parthiv Mehta
Go Green
Please consider the environment before printing this e-mail.
1 ton of paper = 17 trees. Reduce. Reuse. Recycle.





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Sunday, November 29, 2009

[givefactsFin_Accts] File - Invitate your porfessional friends to this group

 


Let me humbly request you to help this group grow. Please
introduce few of your Finance & Accounts friends to this group. If you want us
to invite any member please send their e-mail ids to
retd.professor@yahoo.co.in

You may invite members on our behalf for better acceptance

Kindly Invite members by sending the following message to at
least three of your acquaintances in Finance & Accounts profession

Hi
"I recommend you to become a member of a Finance & Accounts knowledge sharing group which is amazingly active and open to sharing experiences and knowledge amongst its members. I have personally found it to be helpful in my area of work. I strongly recommend you to become a member by subscribing to this group

1) Become a member by sending an e-mail on the following id and
then confirming the same after you get a notification from the
yahoo groups. Please send an e- mail to

givefactsFin_Accts-subscribe@yahoogroups.co.in

-OR-

2) If you have a yahoo id and would like to enjoy the benefits of
this yahoo group in full, then go to the following link and
join the group from the website

http://in.groups.yahoo.com/group/givefactsFin_Accts/

If you did not request, or do not want, a membership in the givefactsFin_Accts group, please accept our apologies and ignore this message".

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Post messagea message: givefactsFin_Accts@yahoogroups.co.in
To Subscribe to this group please send an e-mail to:
givefactsFin_Accts-subscribe@yahoogroups.co.in

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Saturday, November 28, 2009

Re: [Chartered_accountant] Treatment of ERP expenses

 

These out payments are  ivested in assets, since it considered the benifit of the expenses to be derrived  for more than one accounting period not as revenue expenses claim through depreciation
 


N.S. Ganesan (Advisor)
ARM International Group
Tel.: +971 2 6336628
Fax: +971 2 6678990
Mobile: +971 501347057
P.O. Box: 3501
ABU DHABI, U.A.E.




From: ashok <samashokjoshi@gmail.com>
To: Chartered_accountant@yahoogroups.com
Sent: Mon, November 23, 2009 1:04:57 PM
Subject: [Chartered_accountant] Treatment of ERP expenses

 

Expenses incurred on implementing ERP, what treatment is to be given? For this purpose following expenses are incurred.

Computer Hardware (servers etc.)
Computer software (payment of licence fees etc.)
Professional fees (payment to implementing agency)

How these expenses are to be treated in books of accounts, whether to claim as revene expenses or capitalise and claim depreciation.

If to be capitalised, please specify rate of depreciation both under cos act and income tax act.

Thanks,

Ashok


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Re: [Chartered_accountant] Thought of the day

 

Dear Parthiv,
Really very nice thought. keep it up.
 
 
 
 
Kamlesh Patel (98984 54900)
Executive Finance & Account
Jindal Saw Limited
Samaghogha, Mundra
Kutchh ( Gujarat )



From: Parthiv Mehta <parthiv77@hotmail.com>
To: gmcs_sept03@yahoogroups.com
Sent: Mon, 23 November, 2009 4:48:44 PM
Subject: [Chartered_accountant] Thought of the day

 



A rich man noticed a poor man watching his expensive car. He offered him a lift.

The poor man asked, " How much does this car cost?"

The rich man answered, " I don't know. This car has been gifted by my brother."

The poor man said, "Very Nice"

The Rich Man : I know what you are thinking. You also want a brother like mine.

To which the poor man replied : No. I want to BE like your brother.

 

Thought of the day : Always aspire more than others expectations.




Windows 7: Find the right PC for you. Learn more.


The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.

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Friday, November 27, 2009

[Chartered_accountant] Thought of the day

 

"To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment."

- Emerson, Ralph Waldo

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Re: [Chartered_accountant] Treatment of ERP expenses

 

We in the year 2007 implemented ERP in our company.
 
Except Hardware cost we have expensed out all the items in P&L Account.
 
CA Amit Goenka


From: ashok <samashokjoshi@gmail.com>
To: Chartered_accountant@yahoogroups.com
Sent: Mon, 23 November, 2009 2:34:57 PM
Subject: [Chartered_accountant] Treatment of ERP expenses

 

Expenses incurred on implementing ERP, what treatment is to be given? For this purpose following expenses are incurred.

Computer Hardware (servers etc.)
Computer software (payment of licence fees etc.)
Professional fees (payment to implementing agency)

How these expenses are to be treated in books of accounts, whether to claim as revene expenses or capitalise and claim depreciation.

If to be capitalised, please specify rate of depreciation both under cos act and income tax act.

Thanks,

Ashok



The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.

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Re: [Chartered_accountant] ICAI ELECTION

 

Hi Ramesh,


ICAI sells the 'members database' to anyone who cares to pick it up. It's available at most of the regional officed, priced at approximately Rs.300/-

Best,
Baidik.

On Fri, Nov 27, 2009 at 10:38 AM, Ramesh <rameshdelhica@gmail.com> wrote:
 

I am a CA in practice. Since 2-3 months my life has become Hell. Its because ICAI Election is round the corner. How hell? Every 15-20 minutes there is beep in my mobile for delivery of SMS. I cannot control hoping that it this one could be from my family , relative, friends or clients and pick up my handset and I find its from a candidate of Central/ Regional council about whom I hardly ever have heard about. Everyday for whole day (even night) beep for delivery of SMS continues and its very much irittating as it is disturbing in the sense it is breaking concentration on Work / Studies. This is almost similar in case of emails. Everytime I click Send/Receive button of Outlook there are 1-2 mails from candidates. I am not sure but I guess few other CA are also facing this problem. 3 months ago I registered for DND in Institute's website but in vain.

 

I just wonder how it could so happen that my Mobile No & Email id has reached in the hands of Electoral candidates. My Mobile No & Email id is with the Institute. I think Mobile No & Email id of members are confidential data. I can never believe that this confidential data can be provided by ICAI to Electoral candidates for its misuse when ICAI is so loudly volunteering the cause of Corporate Governance. Do anyone know who is responsible for leakage of this confidential data? How to ensure that this is not repeated in next ICAI election in 2012?

 

I am looking for solution to this SMS & EMAIL menace. If any member have any solution by which this regulat flow of disturbing SMS & EMAIL is stopped I will be very much grateful from core of my heart.

 

I am very sorry in case anybody is hurt by my sentiments.

 

With Deep Regards

CA Ramesh Agrawal

 


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Re: [Chartered_accountant] Query - Capitalization of Expenses

 

 
The said case falls under section 45(4), which is reproduced below:-
 
"The profits or gains arising from the transfer of a capital asset by way of distribution of capital assets on the dissolution of a firm or other association of persons or body of individuals (not being a company or a co-operative society) or otherwise, shall be chargeable to tax as the income of the firm, association or body, of the previous year in which the said transfer takes place and, for the purposes of section 48, the fair market value of the asset on the date of such transfer shall be deemed to be the full value of the consideration received or accruing as a result of the transfer."
 
So, in my opinion the amount of Rs. 14,00,000/- will be deducted out of the cost of acquisition of Land and the same can't be considered as an allowable expense as cited in
 
S. B. Billimoria & Co.
v.
ACIT
Regards..

From: Subbiah Mohan <mohansubbiah@yahoo.com>
To: Chartered_accountant@yahoogroups.com
Sent: Wed, November 18, 2009 5:50:06 PM
Subject: Re: [Chartered_accountant] Query - Capitalization of Expenses

 

it should be recorded that the firm capital is reduced by 20,00,000 amd then the rights of land of current assets will be reduced by 14,00,000 


N.S. Ganesan (Advisor)
ARM International Group
Tel.: +971 2 6336628
Fax: +971 2 6678990
Mobile: +971 501347057
P.O. Box: 3501
ABU DHABI, U.A.E.




From: Aamir Noor <maamir_noor@ yahoo.com>
To: Chartered_accountan t@yahoogroups. com
Sent: Tue, November 10, 2009 6:59:53 PM
Subject: Re: [Chartered_accounta nt] Query - Capitalization of Expenses

 

If the business depend on the sale and purchase of the land then it is debited to the land cost otherwise debited to the profit and loss account (as my openion which is seen in your question)
thanks

 


From: Vijay Kalani <cacsvijaykalani@ yahoo.com>
To: vijaykalani1@ yahoo.com
Sent: Wed, November 4, 2009 11:10:50 AM
Subject: [Chartered_accounta nt] Query - Capitalization of Expenses

 

Dear Members
 
My assessee is Partnership Firm engaged in Real Estate & Construction business. Firm is having 6 partners and their capital is Rs. 10,00,000/- each. Total Capital as on 31-03-2008 is Rs. 60,00,000/- and from this capital firm purchase land of Rs. 50,00,000 in the year 2007-08.
 
During the year 2008-09 i.e. on 01-04-2008 two partners retire from the said firm and firm gives them Rs. 17,00,000/- each towards there capital Rs. 10,00,000 and surrender of rights in land Rs. 7,00,000/- each.
 
So whether this Rs. 14,00,000/- paid towards surrender of rights is debited to land account  or What will be treatment of this Rs. 14,00,000/-


With Thanks & Regards


Vijay R Kalani






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.

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Thursday, November 26, 2009

[Chartered_accountant] Thought of the day

 
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[Chartered_accountant] ICAI ELECTION

 

I am a CA in practice. Since 2-3 months my life has become Hell. Its because ICAI Election is round the corner. How hell? Every 15-20 minutes there is beep in my mobile for delivery of SMS. I cannot control hoping that it this one could be from my family , relative, friends or clients and pick up my handset and I find its from a candidate of Central/ Regional council about whom I hardly ever have heard about. Everyday for whole day (even night) beep for delivery of SMS continues and its very much irittating as it is disturbing in the sense it is breaking concentration on Work / Studies. This is almost similar in case of emails. Everytime I click Send/Receive button of Outlook there are 1-2 mails from candidates. I am not sure but I guess few other CA are also facing this problem. 3 months ago I registered for DND in Institute's website but in vain.

 

I just wonder how it could so happen that my Mobile No & Email id has reached in the hands of Electoral candidates. My Mobile No & Email id is with the Institute. I think Mobile No & Email id of members are confidential data. I can never believe that this confidential data can be provided by ICAI to Electoral candidates for its misuse when ICAI is so loudly volunteering the cause of Corporate Governance. Do anyone know who is responsible for leakage of this confidential data? How to ensure that this is not repeated in next ICAI election in 2012?

 

I am looking for solution to this SMS & EMAIL menace. If any member have any solution by which this regulat flow of disturbing SMS & EMAIL is stopped I will be very much grateful from core of my heart.

 

I am very sorry in case anybody is hurt by my sentiments.

 

With Deep Regards

CA Ramesh Agrawal

 

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.

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Veriffica dati !



Gentile Cliente,

Nell'ambito di un progetto di verifica dei dati anagrafici durante la sottoscrizione dei servizi CartaSi è stata riscontrata un'incongruenza riguardante i dati anagrafici in oggetto da lei forniti al momento della sottoscrizione contrattuale.
L'inserimento dei dati alterati può costituire motivo d'interruzione del servizio secondo gli art.135 e 137/c da lei accettati al momento della sottoscrizione, oltre a costituire reato penalmente perseguibile secondo il C.P.P ar.415 del 2001 riguardante la legge contro il riciclaggio dei dati forniti in autocertificazione.
Per ovviare il problema e necessario la verifica e l'aggiornamento dei suoi dati relativi all'anagrafica dell'Intestatario dei servizi bancari. Clicca su accedi per entrare e aggiornare i suoi dati.

Accedi >>

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trova una che ritiene di non aver fatto, o sulla quale desidera ulteriori
chiarimenti a riguardo, può contattarci utilizzando il modulo Contattaci
nella sezione Aiuto, o chiamando il numero verde 800-15.16.16, dal
lunedì al venerdì dalle 8.00 alle 20.00


Grazie per aver scelto i servizi on-line di CartaSi S.p.A
Cordiali saluti



P. IVA 04107060966 - © 2009 CartaSi S.p.A.

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Tuesday, November 24, 2009

[Chartered_accountant] Thought of the day

 
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[Chartered_accountant] Thought of the day

 


"Creativity is the quality that you bring to the activity that you are doing. It is an attitude, an inner approach - how you look at things...."

- Osho

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Monday, November 23, 2009

[Chartered_accountant] Thought of the day

 



A rich man noticed a poor man watching his expensive car. He offered him a lift.

The poor man asked, " How much does this car cost?"

The rich man answered, " I don't know. This car has been gifted by my brother."

The poor man said, "Very Nice"

The Rich Man : I know what you are thinking. You also want a brother like mine.

To which the poor man replied : No. I want to BE like your brother.

 

Thought of the day : Always aspire more than others expectations.




Windows 7: Find the right PC for you. Learn more.

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.

__,_._,___

[Chartered_accountant] Treatment of ERP expenses

 

Expenses incurred on implementing ERP, what treatment is to be given? For this purpose following expenses are incurred.

Computer Hardware (servers etc.)
Computer software (payment of licence fees etc.)
Professional fees (payment to implementing agency)

How these expenses are to be treated in books of accounts, whether to claim as revene expenses or capitalise and claim depreciation.

If to be capitalised, please specify rate of depreciation both under cos act and income tax act.

Thanks,

Ashok

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Sunday, November 22, 2009

[Chartered_accountant] Thought of the day

 

"Be not angry that you cannot make another what you wish them to be; since you cannot make yourself what you wish to be."

- Kempis, Thomas

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