Articles by Ravikumar.G

RBI FOR DOMESTIC CARD PAYMENT SYSTEM

Posted by Ravikumar.G 28 September 2007 4319 Views

The Reserve Bank of India (RBI) is in favour of a domestic card payment settlement company to rival the global payment majors Visa and MasterCard. The Indian Banks Association (IBA) had earlier proposed the setting up of a domestic card transaction

REMOVE DUMPING DUTY ON STYRENE BUTADIENE RUBBER

Posted by Ravikumar.G 28 September 2007 6910 Views

The All India Rubber Industries Association (AIRIA) has sought a removal of anti-dumping duty on styrene butadiene rubber (SBR), which is a synthetic substitute for natural rubber. "There is no logic for clamping an anti-dumping duty on SBR, since i

GOT A GIFT FROM A RELATIVE ? NO TAX ON IT

Posted by Ravikumar.G 27 September 2007 5109 Views

It is widely known that gifts from relatives are tax-exempt. But what is not widely known at all is that gifts received even from non-relatives can also be completely exempt from income tax. Here is the complete run-down from a renowned tax expert. I

DOING BUSINESS IN INDIA STILL TOUGH

Posted by Ravikumar.G 27 September 2007 4589 Views

First the good news. In the Doing Business report 2008, which is brought out annually by the World Bank and International Finance Corporation (IFC), India has climbed 12 ranks, which makes it the fastest-reforming economy in south Asia. Its speed of

BIG GAINS FROM SMALL TOWNS

Posted by Ravikumar.G 27 September 2007 5211 Views

Few days ago when an income-tax raid in Chirkunda, city with a population of little over 39,000 (according to 2001 Census) in Dhanbad district of Jharkhand, yielded a disclosure of over Rs 70 crore of concealed income, it made news only in local dail

Treasury Management

Posted by Ravikumar.G 27 September 2007 10471 Views

TREASURY MANAGEMENT :Treasury Management refers to efficient management of liquidity and financial fisk in business.The responsibilities of Treasury Management include :a) Management of cash, while obtaining the optimum return from surplus funds.b) M

MERITS OF ADOPTING GLOBAL ACCOUNTING SYSTEM IN CORE SECTOR

Posted by Ravikumar.G 26 September 2007 6604 Views

Earlier, in most countries, while public sector operators were responsible for construction, operation and maintenance of infrastructure, including toll highways, toll bridges, power plants, water supply plants, airports, sea ports, etc, such infrast

What Is the Meaning of Dependant for Claim of deduction u/s 80DD?

Posted by Ravikumar.G 25 September 2007 6928 Views

What section 80DD says "80DD. (1) Where an assessee, being an individual or a Hindu undivided family, who is a resident in India, has, during the previous year, (a) incurred any expenditure for the medical treatment (including nursing), training and

Tax Benefits available to Senior Citizens

Posted by Ravikumar.G 25 September 2007 4240 Views

There are not many Exclusive deductions available to senior citizen . A person becomes senior citizen under Income Tax Act in any year after attaining the age of 65 even for one day. Once he attains 65 years, his status as senior citizen in that FY,

Hedging Loss is Buisness Loss , not Speculation Loss!

Posted by Ravikumar.G 25 September 2007 7859 Views

Can a loss from hedging of commodities be set off against normal profit of a related commodity merchant? Yes, there is express provision under the I T Act ,by which loss from hedging of commodities are allowed to be taken not as Speculation Loss and