Courtesy: Dogbert series One Executive decision, chronologically followed by two Judicial decisions seemingly unconnected has a message to Valuation Professionals, more particularly Chartered Accountant Valuation Professional. The Executive Decision was by the Income Tax Department restricting the Valuation of unquoted Securities under DCF to Merchant bankers and dropping Chartered Accountants from discharging that function. The … Continue reading Dispelling the Haze around Fair Market Value – A Tax perspective
The arithmetic of aggregation of the Systems and processes or the Chemistry of the persons manning those systems and processes without an emphasis on Long term vision of Stakeholder value leads to Patchy Governance record.
The central theme of Governance is transparency, and that transparency should encompass every sphere of activity. The focus has to shift from transparency as predominantly disclosure which is primarily history, but it should also be functional as a dynamic real-time process. One of the serious gaps in this Infosys Saga is the stuttering transparency in matters related to Governance.
The Infosys saga disturbed a lot of Professionals and Stock Market watchers. Lot of Pink papers are getting filled with the proper nouns "Infosys", "Vishal Sikka", "Murthy", Common Nouns "Company" "Partnership", Collective nouns "Board", "Committee" and Abstract nouns such as "Governance", "Transparency" etc., and I thought let me put some of my thoughts on this topic interrupting my series for a few blogs and focus on the abstract nouns affecting the Infosys saga. This led me to do a brush of Corporate Governance Knowledge. The Introduction is a short write-up on the context of the battle that promises to last for a period longer than Mahabharata or the Daivasura Sangrama. The next few blogs will be on Transparency, the Philosophy of Governance, Legal implications and options and finally the ethical aspects of the imbroglio.
This is a beautiful Prayer from Rig Veda. This is a prayer for all Noble thoughts to travel from all directions into us. The flow of and the reception of such thoughts is truly a divine “gift”. Is there a danger of such thought getting taxed under section 56. Hopefully not, but one must qualify … Continue reading आ नो भद्राः क्रतवो यान्तु विश्वतः Let Noble and Intelligent thoughts come from all directions
This is the first in the new blog series. The topic for discussion is the amended provisions of Section 56 of the Income Tax Act,1961. This Provision could eat up a lot of time and resources of Professionals to keep them busy for quite some time. Being Busy leads to better Business for a professional.
Sage Jaabaali was a unique character in Ramayana who entered into a Verbal Duel with Rama. When Bharatha was sensing imminent failure of his efforts to bring Rama back, he prodded all elders to put in efforts towards this end. Sage Jaabaali stepped in and infuriated Rama by his arguments similar to the later day … Continue reading JAABAALI, the voice of the other side