Articles by CA S.SAIRAM
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On the way to Pinnacle(CA)
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
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
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
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
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
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
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
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
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
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
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