Articles by Mr. PURNA P

5 tips for surviving an audit

Posted by Mr. PURNA P 03 November 2007 16165 Views

5 tips for surviving an audit If you are being audited, don't panic. Be prepared and know your legal rights.1. Do your homework. Before you go into the auditor's office, get organized. Get all your papers together. Go over your return carefully. Beco

Five key issues in FBT guidelines on ESOPs

Posted by Mr. PURNA P 26 October 2007 5555 Views

Five key issues in FBT guidelines on ESOPsThere are at least five niggling problems with the new norms issued for ESOP (employee stock option) valuation, says Mr Vikas Vasal, Executive Director, KPMG. "First, in the case of unlisted companies, no par

Tax implications of offshore derivative instruments

Posted by Mr. PURNA P 26 October 2007 6031 Views

Will the proposed review of foreign institutional investor (FII) regulations about issuance of ODIs (offshore derivative instruments) have any income-tax implications in India for the foreign investors? The answer appears to be in the affirmative."Th

Seven axioms for investors

Posted by Mr. PURNA P 16 October 2007 6313 Views

For starters, it is a good policy to diversify investments across a few industry sectors to insulate against vagaries of business cycles.Retail investors must understand that the present frenzy on stock markets is largely confined to big companies, a

Sarbanes- Oxley Act of 2002

Posted by Mr. PURNA P 12 September 2007 7336 Views

Summary of SOXThe Act has 11 Titles.SECTION 1. SHORT TITLE; TABLE OF CONTENTS.(a) SHORT TITLE.-This Act may be cited as the ''Sarbanes-Oxley Act of 2002''. (b) TABLE OF CONTENTS.-The table of contents for this Act is as follows: Sec. 1. Short title;

Tax Planning for the Self-Employed

Posted by Mr. PURNA P 17 August 2007 19225 Views

Tax Planning for the Self-EmployedSelf-employment . . . the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you're self-employed, you'll need to pay your own FICA taxes

Tax Planning On Income

Posted by Mr. PURNA P 14 August 2007 10687 Views

Tax Planning for Income The goal of income tax planning is to minimize your federal income tax liability. You can achieve this in different ways. Typically, though, you'd look at ways to reduce your taxable income, perhaps by deferring your income or