Monthly Archives: March 2019

Corporate Tax Planning

There are two certainties in this world: Death & Tax.Unavoidable circumstances. Reduce it. How to do that? Understand Tax Laws and apply. Why to understand and how to apply? Illustrations [in individuals].  Give money to spouse and spouse should purchase/construct house property they can use which for self-purpose to avoid provisions of Sec.27.

 Transfer of house property to son’s wife or minor grand child(son’s son) without adequate consideration would attract provisions of Sec. 64.Because sec. 27 does not cover these two transfers (only spouse and minor child(not being a married daughter) covers. So, if the property is under self-occupation, then the nail income will be the club.

Transfer it satisfies income yielding assets. Create income-yielding assets from income of assets transferred the to spouse. Using spouse in a sister concern of the entity where the assesses has the substantial interest would help to avoid clubbing.

SCOPE: Not only corporate entities, but all come under the purview of CTP (contrary to the common belief). Knowledge of taxation is an unimportant ingredient in any financial decision making. In tax planning, direct tax laws are the most crucial input. The Income Tax Act is the prime field of study in this context.

The interpretation process and demonstration of application would equip us with the art of getting into other legislations. It would take the holistic approach wherever necessary to comprehend decision situations involving knowledge of multiple pieces of legislation.

Stages in taxing statute:

  1. Chargeability: By express enactment, can not infer
  2. Assessment: Quantifying chargeability
  3. Collection: TDS, Advance tax, Self-assessment tax (under IT Act )

Rules of interpretation:

A. LITERAL RULE: ordinary, natural and grammatical meaning:

If the provision is free from ambiguity, we must ascribe plain meaning to the words used without impeding subtracting anything from the words. If a narrow interpretation emerges, which cannot serve the manifest purpose of the act, then a broad meaning can ascribe. (Ex. Sec. 173 (1) of the Companies Act, 1956: The nature of the concern or interest of the director or manager of a company in the subject-matter of the proposed motion discloses. Here we cannot confine the interest only to monetary interest alone.)

B.GOLDEN RULE: Rule of reasonable construction: If application of literal rule yields absurd result by which object sought to achieve would defeat, words changes to produce sensible meaning. It should not be guesswork.

C.MISCHIEF RULE/ RULE OFBENEFICIAL CONSTRUCTION: suppress the mischief and advance the remedy. The earlier mischief for which the earlier law provided none solution and the true intent of the present legislation with its remedy to the mischief.


When two or more provisions of the cat conflict with each other, they have to understand in such a manner that all have to satisfy. [Ex. Sec. 210 (date of balance sheet shall not precede the date of meeting by over six months) and 166(1)(gap between two AGMs should not be over 15 months)]

E.EJUSDEM GENERIS: of the same kind or species

If there is a plain conflict between two provisions, the special one prevails. General words following specific words have to draw their colour from the specific words [You can keep dogs, cats, cows, buffaloes and other animals (not a lion)]. If the particular words used exhaust the whole genus, then the general words can cover a larger genus.


  1. Long title is a part of the act (short title only identifies the act)
  2.  Preamble: scope, object and purpose of the act, but can not override the plain words of the act.
  3. Heading and title of a chapter: preamble to the sections
  4. Marginal notes: In India, they can refer to.
  5. Definitional sections / cause illustrations are not a part of the section, but definitely a part of the act. But they cannot expand or curtail the ambit of the section.
  6. Proviso: The exception to the section.
  7. Explanations to read in harmony with the main section and clarifies its meaning
  8. Schedules: to read together with the act. If they are in conflict with the act, actprevails.


  1. Earlier acts, historical settings
  2.  Dictionary meaning
  3. Foreign decisions


  1. Act, Ordinance, Rules
  2. Structure of an Act – Chapter, Sections, Sub-sections, Clauses, Sub-clauses, Provisos, Illustration, etc.
  3. Deductions, Allowances, Rebates, Relief, Exemption, etc.
  4. Benevolent circular – Binding force of a circular
  5. Heads of Income & Sources of Income, GTI, Total Income
  6. Reason to believe v. Reason to Suspect
  7. Application of mind
  8. Principle of unjust enrichment

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Suicide Warning Syndromes

When a person who kills himself intentionally calls suicide. It is the act of killing yourself. Remember, it is a crime to commit suicide. A perceptible sign ofsomething not immediately clear (as a visible clue that something has happened) .

Followings are warning signs which can lead one to suicide stage. If you know one who is exhibiting similar signs and intensions, then straightaway action needs and please take those people for medical advice and save his /her life. Followings are a few of indications that can treat as warning signs that can lead to a suicide, so better prevent before it is too late.

Suicide warning syndromes

  1. Acting recklessly: marked by a defiant disregard for danger or consequences, characterized by careless unconcern
  2. Feeling excessive or shame: a state of dishonor, a painful emotion resulting from an awareness of inadequacy or guilt, bring shame or dishonor upon, compel through a sense of shame, cause to be ashamed
  3. Bad performance at work or in school :
  4. Appearing depressed or sad most of the time: a mental state characterized by a pessimistic sense of inadequacy and a despondent lack of activity, a long-term economic state characterized by unemployment and low prices and low levels of trade and investment, a state of depression and anhedonia so severe as to require clinical intervention.
  5. Talking or writing about death or suicide.
  6. Withdrawing from family and friends.
  7. A state of hopelessness, helplessness: Without hope because there seems to be no possibility of comfort or success, in an agony of hopeless grief;with a hopeless sigh he sat down”, Of a person unable to do something skillfully, certain to fail, beyond hope of management or reform.
  8. Feeling strong anger or rage: a strong emotion; a feeling that orients toward some real or supposed grievance, a feeling of intense anger,
  9. Experiencing dramatic mood changes: a characteristic (habitual or relatively temporary) state of feeling
  10. Abusing drugs or alcohol:
  11. Showing a change in personality and losing interest in most activities
  12. Change in sleeping habits and eating habits

Almost three fourth of people who died of suicide showed suicide signs, so it is of significance and importance to detect such signs and then take those persons for serious medical consultations. Do not leave him alone during those times and make him show the sign of how beautiful life can be.

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Rainy Season at Puri, Odisha, India

It may be a surprise or maybe an in believable fact but it is truth, and I have tried to decipher the reason behind it and somewhat find the clue. In this area predominantly there are many shops of temporary because of visitors delight many shops opened for profits and they use vehemently the polythene pack which degenerate and thus the big drainage system got struck with these polythenes and the water clogging happens and then the floods after somewhat medium rains. This is a very precarious situation to believe it in but thee fact of the matter is that this is happening and the water flooding dynamic evil effects.

Lots of skin disease , diarrhea frequent and watery bowel movements can be a symptom of infection or food poisoning or colitis or a gastrointestinal tumor are the main disease which appears to some persons lives there’s. The most important problem is the drinking water as the drinking water circulation pipes goes through these Badashankha and because of some leakages those dirty waters mixes with the drinking water and thus enabling some bad disease and contaminated water.

The most dreaded problem is from the electricity as when there is a mini flood like situation and is most of the electrical standings earths and cur rented, thus making the water current and thus electrocution can be several and fatal so while travelling to Puri and especially at the rainy season beware of these facts. Try to buy the bottled water and do not drink or eat from the roadside vendors as you may fall ill try to avoid food from outside and take food from a good and clean and permanent restaurant. Try to get good fruit as good fruits are available in plenty nearer to municipal markets.

It will water if you are at Puri and it is raining for 30 minutes then try to get back to yours accommodation or hotels yours accommodation or hotels as most of the area will they will water accommodation or hotels and above problems you may face. At Puri rain hardly the pause for thirty minutes to one hour but the aftereffects of rain can stop you for over two hours and if you are in such a situation, then my advice will be to call the electricity department to cut down the power and then walk or stay that place still all the water get drained.

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Internet Blackout

Many times this internet blackout is so severe that you may think about what is your thought process can be and how could all these manage and galvanized to make it more and more happening and attainable. The The Internet is the collection of vast sites and the number of sites is on the rise throughout each day and night. These are a few significant factors that assigns to and manage with. With the blogging sphere, the vast knowledge base with the Internet is still increasing day by day and day in and out.

The Internet is a significant proportion, and the user has to remember it day in day out for their favourite websites. These are cases when the user will decide upon what websites to browse and what not to browse and with this the significant proportion and many times these have to calculate and simulated with a stupendous proportion so much so that when you will connect with internet all these will have to mass used and managed with. These are some of the most significant factors which, if attributed carefully, can have a stimulant and a wonderful effect that can have many more significant attributes.

The problem is with these phenomena and in the internet’s age is that all these come with the cost and the basic parameters, is the significant attributes and the number of websites and related parameters to capture with and how all these can use and manage is the performance attributes and the manager status those cans have well intimidated. The first point of inference is that, how many websites browsed and the list goes on and this is particularly is of great significance because of the reason is that, the particular parameter with which you connect to the internet is first and the foremost is of how many you want to spend and the second is that in which way, and what time you will browse.

Nowadays is the age of the Internet and how many bytes you spend to map it out. It is the unit and the speed and with which the corresponding measure of all the ingredients of the speed of the internet that matters. Then after logging into and checking into all the emails concerned the fact of the matter and the significant part is, here, comes the phenomenon of internet blackout. The basic importance to all these has been the wonderful part of here time about internet threats that is lurking in and out of internet arena and this is making this most of the remarkable proportion and in this way, all the significant interest is just making it more and more attainable to its different parameters.

Due course of time and on the internet it is a must that to recall a site it is very difficult to remember and for this it is of optimum importance that understanding and its significant related website can have much needed connivance and attained significance in its upper parametric circumstances that are making it more and more prone to remember the previously remembered sites and the list in memory goes out of hand and it is very difficult to attain and grant the uppers side. From this, the whole branch of understanding and attainable brilliance comes into mind.

Many times this internet blackout is so severe that you may think about what is your thought process can be and how could all these manages and galvanized to make it more and more happening and attainable. Just think of a situation where all these has been making period galvanized significant not so independent source of underestimating proportion’s and how all these can have gone out of your memory. Can all these be the basis of all thinking and whether these can have reverse osmosis in the making? These should not have any thought or bearing into the part of the process but the basic utters of websites and its listings will surely be significant enough to make it run for money and you will feel about all these underestimations.

These entire websites name just been out of content, and it is from sure better to bookmark all these websites in your favourite web browser. As I can notice it that in every modern web browsers there are provisions for the better understanding and also that can be very much helpful to make you believe and understand the whole process of the complete simulation so that the memory comes to your mind. These are all the happenings and the making of its own is just the symbol of beginning and then wonderful part which is just making it more and more the symbol of success in getting the things done.

The website count can be very synchronizes with the website and there are many websites that are making the work for online synchronization or cloud synchronization and with this the basic understating of the knowledge and the related matter with have gone beyond doubt to significance proportions and its altitude in attendance is just making it more and more easily available syndrome and with this there are many chances that your internet blankness will survive in time and moments. I to sort all these need out for sure, someone says it is better to write the names of websites so you will not be forgetting all these in the meantime but it is not for sure as it is.

The proud moment and the related consequences of it are the single parameters when the computer savvy person still will not work or think of it. Some times the real worry can be of not remembering the every day’s website and that will make the fun of it and still not getting that website and search for search engines and there can be the well chance to get it back of it. The significance and the attachment of wonderful phenomena are making the whole life of it thinking and after the computer session is over, you will think it out how come I not remember this thing and this will have considerable significant proportion attached with it.

It relates all these to the most satisfied technological commitment and the leading edge technology of the most wonderful attendance and the measure that is making it most. The most satisfying and the consumer awareness are surely magnificent waves and how to survive and get the most of it is the soul that is making the whole attendance in the spheres of the world of internet. All these seems to be that you will outgo sociable and spreading the harmony and the message of brilliance is just been picking at you and it makes it more and more significant statement to you and to others and this is what perhaps you will make it out from most.

You will expect and getting administration and applause and also your efforts at home and within the family have not been vain but the most important of it is making it more and more significant proportions that are getting it to let others around. It is stress less , all about comfort and the related comfort zones that attach with and that why all these parameters is making it more and more wonderful and the absolute essential to make it work just like the peer of happiness that is making the internet a whole new and brand world internet connectivity. That is why trust yourselves and be felt as you are like the experts and making it more of it.

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