Recent Posts

Prepare to pay tax on Undisclosed Foreign Income and Assets

  Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 Where is Black money stashed abroad? When will it hit Indian shores? Will it ever come to India? Is it just hype, a myth? These are the questions lingering in the minds of millions of Indians. No one is …

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Practical issues in capital gain on sale of property

  Post sale of the property, the seller will have to take certain precautions to save on capital gain tax. Some of them are discussed in this article.    Deposit the sale consideration in SB Account: After the sale takes place, the seller can deposit the demand draft/cash/cheque in his …

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Ways to make long partnerships

  In the early 90s, I was conducting an audit of a retail shop at JC road. It was a firm owned by two partners. The partners never had separate cabins; both of them were sitting side by side using two medium sized tables. Many times I thought to myself, …

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