B E Kumar Prasad

B E Kumar Prasad
He is a Practicing Chartered Accountant in Bengaluru, India. He has 28+ years of experience in income tax, business setup, and NRI matters. He is also an Insolvency Professional, Registered Valuer (F&SA) and Social Auditor.Prasad welcomes your comments and questions. Please email him at simplifiedlaws20@gmail.com

Reciprocal Tariff by the U.S

I just wanted to share my thoughts on the reciprocal tariffs announced yesterday by the U.S. Government and what they could mean for Indian businesses. You have probably read or heard about it in the news and on social media. But let me try to simplify it in my own …

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Time Capsule

Five years ago, the world faced a major event — the COVID-19 pandemic that shook every corner of the globe. I still remember how, at the time, many famous personalities took to the media and declared that the world would never be the same again! But let’s revisit that part …

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Karnataka Budget Proposal: A Hope for Fair Guidance Value Revision?

The Karnataka Budget Proposal to scientifically determine the guidance value using GIS (Geographic Information System) could be a major relief for many property owners. After the guidance value revision in October 2023, thousands of properties have been overvalued compared to actual market rates, making it difficult for both buyers and …

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Simplification of Income Tax – A New Era in Taxation

The Income-Tax Act, 1961, has long been a key pillar of India’s tax system. Enacted on 1st April 1962, the Act has been amended over 4,000 times through Finance Acts to adapt to the evolving economic landscape. However, the accumulation of amendments, complex language, and a bulky structure have made …

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An Update on Updated Income Tax Returns

The Union Budget 2025 has introduced a key change in the Updated Income Tax Return (ITR-U) mechanism by extending the filing period by two more years. This change provides a longer window for taxpayers who missed filing or underreported their income. But before understanding its impact, let’s briefly revisit the …

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Last-Mile Connectivity

As I thought about starting the new year, the topic of last-mile connectivity, used metaphorically seemed the most appropriate for my first article of 2025! We often put significant effort into tasks but fail to complete the final, crucial step, rendering all prior efforts ineffective. For example, we file Income …

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Shouting? You will Be a Written-Off Case

Are you someone who shouts, harasses, ignores, or irritates the people around you like your spouse, kids, team members, juniors, professionals, consultants, vendors, or even customers? If so, this note is for you. Trust me, it could change the way people see you and the way you see yourself. When …

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Tax Lessons for Life

Life is full of deadlines whether it’s preparing for exams, getting ready for events, or completing tasks at the office. Yet, procrastination often gets the better of us. The Income Tax Act offers valuable life lessons through its interest under Sections 234A, 234B, and 234C. Procrastination is the act of delaying tasks …

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