Community & General Articles

The Great Expectations

Posted by Anjani Kumar Sharma 08 July 2014 15810 Views

The launching of all programs depends first and foremost on the resources of the treasury. (Arthashastra, Kautilya) Therefore for a robust economy, a progressive budget is an imperative. The count down for the budget has be

Budget 2014: Numbers that will matter the most

Posted by Satvir Singh 08 July 2014 14812 Views

10th July, 2014 is the day Finance Minister Arun Jaitley will present maiden budget of Modi government. Emphatic election win on the backdrop of massive campaign which promised moon to the citizens means the hopes from new government is very high. Bu

Budget wows: Why one who pays tax only suffers?

Posted by CA Umesh Sharma 08 July 2014 9401 Views

Karniti Part-44: Why one who pays tax only suffers? Arjuna (Fictional Character): Krishna, currently everywhere discussions are going on about the upcoming Budget. But Krishna, most of the taxpayers feel that the tax burden should be minimize

Experts seek a pathbreaking Budget

Posted by Nilesh Patel - CPA (USA), IRS 05 July 2014 15451 Views

I. International Tax Foreign Tax Credit Q. 1. Currently Taxpayers are unable to carry forward unutilized (excess) Foreign Tax Credit (FTC) to future years, and set off such unutilized FTC against the tax liability in the succeeding years. Thi

Deductor to be deemed as assesee in deafult only in respect of actual tax liability of Non-Resident

Posted by Amit Bajaj 04 July 2014 6945 Views

CBDT in its instruction No. 2/2014 [F No. 500/33/2013-FTD-l], Dated 26-02-2014 issued in view of the judicial develpments in the cases of GE India Technology P Ltd. vs CIT [2010] 7 taxmann.com and Transmission corporation of AP Ltd v. CIT [1999] 105

How to maintain work life balance?

Posted by CA Vijeta Verma 02 July 2014 24235 Views

It is a very well known fact that our outer world is exactly the reflection of our inner world. But if the funda is as simple as we receive back only what we give out then why there is so much hassle and hotchpotch in our lives. No doub

Basel Capital Accords - An Overview

Posted by Gowtham 30 June 2014 9801 Views

Banks are one among the major triggers in most of the economic crises. Banks are the veins of circulation of money in an economy. So the soundness of banking system is imperative to prevent the collapse of

FDI and its Possible Consequences on Defence

Posted by NILA REJESH P 27 June 2014 26529 Views

Nowadays, India government has taken initiatives to raise FDI in defence sector to 100%. Only 26 % of FDI is allowed in defence so far. The Draft Cabinet Note prepared by Department of Industrial Policy and

The Union Budget 2014 - ICAI Propositions

Posted by CA Neha Bhuwania 24 June 2014 19775 Views

With the flowing air of the Union Budget which is going to be announced soon, the expectations of a common man makes him look upon to Mr. Arun Jaitley, Union Finance Minister for some relief. Needless to say, Institute of Chartered Accountants of Ind

Negotiation lessons from the redbus exit

Posted by Guest 19 June 2014 13817 Views

At the time of exit to the Indian arm of the Ibibo group, Redbus had an enterprise valuation of around Rs. 600 crores (USD 125 million). Do you know what was the shareholding of its two founders Phanindra Sama and Charan Padmaraju? Less than 15 perc