Articles by Ravikumar.G

Audit Documentations

Posted by Ravikumar.G 30 June 2020 25753 Views

"The skill of an accountant can always be ascertained by an inspection of his working papers." Robert H. Montgomery, Montgomery's Auditing, 1912. During the performance of an audit, it is obvious that the auditor may have come across issues which we

NRI Tax

Posted by Ravikumar.G 24 September 2007 4235 Views

Who is a resident of India?A person who meets either of the following Basic conditions is considered a resident:The person should have been in India for 182 days or more during the previous year ORShould have been in India for 60 days or more during

Transfer Pricing | An analysis

Posted by Ravikumar.G 01 May 2021 7226 Views

This is not unique taxation measure in India. Many countries , as a consequences of opening economy, felt that Multi national Companies(MNC) plan their business affairs in such way that they earn more profits in a country wherein the taxation is less

Deemed Dividend -Maybe ,Maybe Not!

Posted by Ravikumar.G 24 September 2007 4723 Views

If a pvt. company provides security to a bank, on the basis of which the bank gives loan to a director who is also a majority shareholder, would the loan amount be considered as deemed dividend ? No, the amount of loan shall not be considered as deem

FBT applicability of Trusts

Posted by Ravikumar.G 24 September 2007 4829 Views

Section 115W(a)(iii) of the I T Act specifically exempts funds ,trusts or institution eligible for exemption u/s 10(23C) or registered u/s 12AA of the I T Act . The Board vide circular no 8/ 2005 clarified under question number 4 as follows :Whether

Indian Chartered Accountants are emerging as a global force now

Posted by Ravikumar.G 21 September 2007 12384 Views

Technology up gradations opened up a new avenue for chartered accountants in India too. Many companies in USA and UK are looking for hiring professional services from an Indian corporation, as it is proven that Indian can adapt to any system easily a

Knowledge Process Outsourcing

Posted by Ravikumar.G 21 September 2007 7155 Views

THIS ARTICLE HAS BEEN PUBLISHED IN THE 'INFORMATION TECHNOLOGY' SPECIAL ISSUE (JUNE 2006) of 'Sanhita' - a monthly magazine for corporate professionals published by the Pune Chapter of WIRC of The Institute of Company Secretaries of India. A CII Repo

DO NOT RUSH INTO CAPITAL ACCOUNT CONVERTIBILITY: RBI

Posted by Ravikumar.G 20 September 2007 3481 Views

The deadline for capital account convertibility could be pushed by another 10 years, going by the views of the Reserve Bank of India (RBI). This is way-off the schedule suggested by the Tarapore Committee on fuller capital account convertibility and

'RBI TO LEAVE INTEREST RATES INTACT, MAY HIKE CRR'

Posted by Ravikumar.G 20 September 2007 3293 Views

Unlike US Federal Reserves which cut interest rates by 50 basis points on Tuesday, the Reserve Bank of India is likely to retain the interest rates intact, global financial service provider Merrill Lynch said on Wednesday. The regulator, however, may

MORE SERVICE TAX SOPS FOR EXPORTERS

Posted by Ravikumar.G 20 September 2007 5031 Views

There is more relief in store for harried exporters. The list of services on which exporters have been granted exemption from payment of service tax may be expanded. Commission paid to foreign agents - which forms a sizeable chunk of the service tax