ICAI routinely releases Exposure Drafts on the proposed Accounting standards and of late have begun to release IFRS compliant ASs. Recently, the Exp Draft of AS 39 was released for comments. I wrote the following letter to ASB, which I thought I sho
Commandments of Tax Planning 1. Execution of Tax Planning: Execution of Tax planning should be such that the proposal should be applied with good conceptual knowledge of the facts. Tax Planning principles must be sound and also due care sh
SEARCH, SEIZURE AND SURVEY SIMPLIFIED Search and Seizure are the burning topics in current Tax scenario. It seems that North Block is completing its direct as well as indirect tax targets through this amour of ‘SEARCH & SEIZURE’. A
IFRS and Transfer Pricing as per Income Tax Act, 1961 The bundle of IFRS that we have in the pipeline is no kith and kin for the existing Transfer Pricing concepts. IFRS dwells predominantly on the ‘Fair Value’ concept. Majority of these
Environmental Scanning Strategic Management is a systematic process of achieving desired objectives of an organization by proper allocation of its resources.
The Target Plus Scheme (TPS) was introduced in the Foreign Trade Policy 2004-2009. The details of the scheme are enumerated under Para 3.7 of the Foreign Trade Policy and Para 3.2 of the Hand Book of Procedure and also in theNotification No. 32/20
Education, coaching and training have become an expensive affair and many children from the poor families can't afford it. The lack of education and training leads to unemployment and if any organisation is imparting coaching and training to e
Goods and Service tax (GST) is the most talked about topic in the field of indirect taxation today in India. Everybody is keenly waiting for the proposed GST draft which will replace the existing system of VAT in India. The central government wants t
With the advent of MNCs(Multi National Concerns) a trend has also been adopted by the MNCs to structure their investments and business strategy in such a way that profits are maximized in such jurisdictions where tax rates are low, which give rise to
The role of Chartered Accountants (CAs) in eradicating Corruption If the accounting profession is committed to
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