CA A. K. JAIN

New Fiscal Approach For Govt. Revenue Collection

Through the proposed DTC / GST legislations, the Government has acknowledged the need of revamping existing revenue system but the proposed new laws appear to be even more intricate and complex then the present one. To move forward the economic refor... Read >

Currency Devaluation Hammers India

The year 2012 has begun with catastrophic affect for the rupee. It was Rupees 43.96 against a dollar in the July 2011 and now for $1 it is Rupees 54.3. Rupee hits all time low in January 2012. This kind of decline will have the sweeping impact on the mac... Read >

How “The Lok Pal” Can Fit in Indian Constitutional System

Mr. Anna Hazare is trying to fix Lok Pal in already crowded space shared by investigative agencies like CBI, RAW, IG, Police, CAG etc. etc. & multi layer judicial system consisting of Supreme Court, High Court and Lower Courts etc. The entire law enforc... Read >

Penalties Under Indian Companies Act

Indian Companies Act 1956 provides a range of obligations to be discharged by every company registered under this act and also on the part of its Directors / Managers / Secretaries, etc. The law relating to penalties arising from non-compliance of various... Read >

Unauthorized Deposits in Foreign Banks by Indians and its Remedy

From the news paper reports, we have been reading about our financial wealth being stored in Swiss Banks etc. Indian media is actively discussing this subject regularly. Some high profile celebrity individuals are also talking about the issue. This has ... Read >

New Government Authority to Investigate Financial Frauds

Introduction - Taking clue from the developed nations Indian Government has also established a multi-disciplinary organization under Ministry of Corporate Affairs to investigate serious financial frauds committed in India. This office known as “SFIO" is w... Read >

HUF & Tax Implications

Hindu Undivided Family is defined as consisting of a common ancestor and all his lineal male descendants together with their wives and unmarried daughters. Therefore, a HUF consists of all males & females in the family. Daughters born in the family are it... Read >

Information Technology Panacea For Police Problems

With the development of Net Based Technologies along with availability of advanced software and hardware systems, it has become feasible to systematize and present the most complex data system in simple formats. This facilitates the quality of data storag... Read >

Ombudsman Can Resolve Your Income Tax Issues

To resolve Income Tax related tax issues of the taxpayers, the Government has created office of “Income-Tax Ombudsman". The officer designated as “Ombudsman" hold independent jurisdiction and work as autonomous authority. The Government has so far set ... Read >

New Fiscal Approach Needed For Govt. Revenue Collection

Through the proposed DTC / GST legislations, the Government has acknowledged the need of new revenue system but the proposed new laws apparently appear to be even more complicated then the present one. India needs a very very simple legal system, whic... Read >

Income Tax Raids - No Reason to Panic

The term “Raid in Indian Income Tax Law" is incredulous and any unexpected encounter with IT sleuths generally leads to chaos and vacuity. If you are likely to experience such action it is better to familiarise with the subject, so that, the situation can... Read >