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Economy

THE ANATOMY OF SECTION 40A OF THE INCOME TAX ACT, 1961 [The Act]

on
May 9, 2018

DISSECTED BY ME for the benefit of the HONEST tax payer.
PART-1 covering Sections 40A (1); 40A (2a) & 40A (2b)
Since this Section is too vast, I intend to cover this in Parts for the easy grasp of the tax payers

1. INTRODUCTION
1.1. This draconian Section, introduced by the Finance Act,…


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Economy Indian Economy

THE HALLA GULLA OVER RISE IN PRICES OF PETROL & DIESEL IS A MERE ELECTION STUNT BY THE OPPOSITION PARTIES!

on
May 5, 2018

1. I am reminded of the proverb ” hunting with the hound and running with the hare here”!

2. The CPI – IW( Retail Prices) has been coming down consistently in the past four years and stands today at its 15 year low of 4.28%.

3. Consequently, acting under the powers…


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Current Affairs Economy

CANTEEN FACILITIES PROVIDED TO YOUR EMPLOYEES ARE TAXABLE UNDER GST – RULES AAR (Kerala)

on
April 18, 2018

Note: Where ever the term “Act” is used in this Article, it refers to the CGST Act, 2017

1. THE TAXING EVENT IN GST LAW
1.1. “Supply” of goods or services or both shall be exigible to GST under Section 9 of the CGST Act, 2017.
1.2. The “Scope” of supply is elaborated…


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Economy India

INDIA’S PUBLIC HEALTH CARE SYSTEM ( PHCS) – A STUNTED INFANT 70 YEARS OLD.

on
April 15, 2018

1. Almost all the nations in the world have recognized that it is their primary DUTY to provide Public Health Care Services either free of cost or at heavily subsidised rates to the poor and less privileged of their citizens.

2. India is no exception to this.

3. India is a…


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Lifestyle

TRANSFORMATION COMES IN LITTLE PACKAGES !

on
April 15, 2018

1. We often find FB and WA postings telling us how even a cat in Japan and elsewhere knows how to cross the roads and how motorists wait patiently when a flock of ducks amble through the zebra crossing to the other side of the road!

2. We react, indulging…


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India

MORNING DEAR ALL!

on
April 8, 2018

HAPPY WEEK END!!!
Here are some thoughts for our week end, thoughts which keep triggering our pride in some defining acts of the virtuous and brave in our land which have left an indelible imprint in our evolution as a civilised nation state.

PLEASE READ ON
1. On 12. 06. 1975, the…


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Economy Lifestyle

WHY INDIANS HAVE THIS FETISH FOR THE YELLOW METAL?

on
March 31, 2018

1. INDIA IS THE SECOND LARGEST IMPORTER OF GOLD IN THE WORLD
1.1. Till China overtook it in the recent past, India was, for many years, the largest importer of gold in the world.
1.2. Indian households have the largest stock of this yellow metal, somewhere in the range of 18,000…