The Power of Belief System

What is it?? Does it really affects our lives?? Is there any need to understand it?? The answer is Yes….and the reason will be known to you as you will go through this article. First of all, let me explain you the meaning of BELIEF SYSTEM: This is the system of our Thought Process running continuously in our mind either we are awake or sleeping. This is the real state of our mind that directs us regarding what to do or i [...]

Fake Rent Receipt Won’t Help You Lower Tax Burden Anymore

For as long as anyone can remember, producing fake property rent receipt, often from parents and relatives, has been an easy way to lower tax burden. Such cavalier disregard for tax rule was overlooked by most employers as well as taxman, who possibly felt it was a minor transgression. Perhaps, not anymore. The income tax department now has good reason to insist on proof from the tax payer showing that he is indeed a genuine tenant, staying in the property [...]

The Fear of English…………

The Fear of English............ Hello. My Name is Mohit Khurana and i am writing this article for the first time in my life. For the past few weeks i was searching on the internet that how can i improve my english and my communication skills and the most common answer i got on every website is that if you want to increase your writing skills, start writing something in your own words it may be a letter, a paragraph, an [...]

One Life, Many Struggles

One Life…….Many Struggles A lot of people already predicted that this article is related to their own lives because they can easily relate themse lves with the word in heading above “Struggles” Actually, the reason behind writing this article is just to pen down my own view on this word because I am suffering with this word too. Yesterday, I was talking to my friend and was telling her about my family, and then suddenly I told her “I lived a life full [...]


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Deductions under Section 80C of the Income Tax Act

Let's Begin.... 1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, being the aggregate of the sums referred to in sub-section (2), as does not exceed one hundred and fifty thousand rupees (2) The sums referred to in sub-section (1) shall be any sums paid or [...]


 Meaning of Benami Transactions: "Benami transaction" means,— (A) A transaction or an arrangement— (a) Where a property is transferred to, or is held by, a person, and the consideration for such property has been provided, or paid by, another person; and (b) The property is held for the immediate or future benefit, direct or indirect, of the person who has provided the consideration, except when the property is held by— A Karta, or a member of a Hindu undivided family, as the case [...]

Accounting Standards and IFRS

OVERVIEW: What are Accounting Standards? What is IFRS? What is Convergence of Accounting Standards? Convergence of Indian accounting standards with IFRS Role of ICAI in convergence Role of SEBI in convergence Role of Industry Associations in convergence Advantages and Challenges for convergence Meaning of Accounting Standards: In order to ensure transparency consistency, comparability, adequacy and reliability of financial reporting, it is essential to standardize the accounting principles and policies, Accounting Standards provide framework and standard accounting polices so that the financial statements of different enterprises become comparable. Accounting Standards [...]


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