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

Digital Budget 2022 – Part 2

Will the Government abolish Income Tax? This question pops up once in a while in the public domain. To answer this, here is the estimated total Tax revenue of the Union Government for FY23 – Corporate Tax (Tax paid by business entities) Rs.7,20,000 Crores Income Tax (Tax paid by salaried …

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An overview of Digital Budget 2022

FM read out the speech from a digital tab and most of the contents of the speech referred to digitization. It is indeed a digital budget both in words and spirit. Amrit Kaal from India @ 75 to India @ 100 is the vision statement of this budget. The budget …

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Government Employment contract and corruption

Assume you have to cross or jump a 3-foot fence to reach the road. If it is an electric fence, but not written on it, you taking the chance of jumping across it is, say, 70%. If a whiteboard is tagged onto the fence with DANGER and SKULL symbols, you …

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Can we eat Gold?

Is Gold edible? We, the middle-class society always used to grumble about the wealthy people saying that ‘they may have Golden plates, but can they eat gold? They also have to eat rice only’ ‘You may be rich or powerful, in the end, you have to eat food only!’ Do …

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Where can we find the excess cash?

None of us will forget 8th November 2016, the day Demonetization was announced by the Government. How much cash was in circulation during that time?  The Annual Report of RBI shows that the total currency (cash) in circulation was Rs.17,77,000 Crores. The latest report of RBI, published in November 2021 …

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What is a Startup

The most frequently used term in business news is “startups’ The startups are valued at so many billion dollars, startups are going for IPO, startups are funded by venture funds, startups get incentives, startups turn as unicorns, so on and so forth. What does a startup mean? Whether all newly …

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My trip to Odisha

A 3N/4Days trip to Bhubaneswar – Puri – Konark just ended yesterday. After two years of Corona break, this was our first family trip outside of Karnataka. Odisha was not in our choice of destination. But for the wedding of my colleague, we wouldn’t have gone there at least for …

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Stock Market operations and life lessons

There are many similarities in the way we live and in the way we operate in Stock markets. I have penned a few of them here. Bull and Bear Cycles Stock markets follow a trend, the one where prices keep rising is Bull and the one where it is declining …

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All about Annual Information Statement(AIS)

A few years back, one of my friends said DATA is the NEW OIL. You collate the data, drill deep and extract the information, i.e., new oil. The Government, precisely, the Income Tax department is now in the business of NEW Oil. Just before writing this note, I logged into …

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