Articles by CA S.SAIRAM

On the way to Pinnacle(CA)

CA S.SAIRAM 18 January 2011 at 11:10

Pinnacle is the handy term to symbolise the peak moments of our life, be it happiness or melancholy. Literally that we know, a pinnacle is a structure with a pointed top and one cannot manage hanging there at the top edge for hardly even a minute or

Excise and Service tax Audit in Manufacturing Industry-Ticklish things

CA S.SAIRAM 18 December 2010 at 11:59

Our Audit performance (whatever the area may be) hinges on effective maintenance of records and documents otherwise the audit team is sure to take us for a ride. Not only this, the accounting department also has to have a good presence of mind as reg

Criminal Liability of Independent Directors

CA S.SAIRAM 29 November 2010 at 10:17

Criminal Liability of Independent Directors Until now, 'Samaritans' is not how the Independent Directors are purported by Clause 49 in the Listing agreement. An Independent Director is somebody who receives the normal remuneration w

Barriers and Challenges in Cross Border Investment

CA S.SAIRAM 08 November 2010 at 12:16

Barriers and Challenges in Cross Border Investment Cross Border Investment is an Investment cutting across the geographical borders with an aim to cash in the foreign market. The first and foremost requirement for a Cross border Investment t

Transfer Pricing Reforms in the Direct Tax Code

CA S.SAIRAM 25 October 2010 at 11:36

Transfer Pricing Reforms in the Direct Tax Code The new Transfer Pricing policy introduces two concepts which are novel only to the Indian tax system known as 1) Safe Harbour rules and 2) Advance pricing agreement (APA). Safe Harbour rule in

Pursuing CA is like undertaking a spiritual journey

CA S.SAIRAM 22 October 2010 at 13:06

Facing troubles in life is imperative to keep the mental state in equilibrium. A drop of medicine is saver, a glass of the same is killer. In the same way too much of happiness leads to bad chemistry in the human mind and body in the form of an intox

IFRS: Amoritsed cost and tax implications

CA S.SAIRAM 16 October 2010 at 17:16

Amortized cost basis valuation in IAS-39 with respect to specified financial instruments can be compared to a journey in a passenger train which is either behind or ahead of the schedule and makes lot of discretionary time adjustments (i.e. halts and

Sec.50C and Sec.69B of IT Act 1961 - No Twins

CA S.SAIRAM 11 October 2010 at 11:52

Sec.50C and Sec.69B of IT Act 1961 - No Twins Man proposes, God disposes (either ways). But luckily for the assessee the Department proposes, judiciary opposes. Our Income tax law provides for tackling the cases of undervalued as well as undiscl

Indo-Mauritius Treaty: Mortising Legality to Tax evasion

CA S.SAIRAM 04 October 2010 at 11:00

Indo-Mauritius Treaty: Mortising Legality to Tax evasion The thin line of demarcation between tax evasion and tax avoidance is the 'scienter' or the intent of fraud. The moment the adjudicating or apex authority fails to discern the

Deferred Tax asset on Depreciation Loss: a Moot

CA S.SAIRAM 16 September 2010 at 11:56

Deferred Tax asset on Depreciation Loss: a Moot Creation of deferred tax asset in pursuance of accounting standard-22 requires existence of an intriguing situation called ‘Virtual Certainty’ for future taxable profits. ‘Virtual Cer