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2015

Saradha Chit Fund Scam

  • Saradha group of companies were established in the year 2006 by Master Mind Sudipta Sen and spread in the states of West Bengal, Assam, Jharkhand, Orissa, Bihar   Chhattisgarh.
  • Estimated amount collected : Rs. 20,000 to 30,000 crore

Modus Operandi

  • Business started in the name of Sarada Devi, who is wife of Shri RamKrishna Paramhans, a highly respected spiritual guru born in West Bengal. Name of Sarita Devi also known as Mother Sarada used to gain trust of the people in the fund.

2015
  • If a serviceman earns Rs. 10.00 lacs per year, he has very limited scope to avoid tax payment. He can at best save some money in tax saving schemes and reduce tax liability by at most 20 to 30 thousand rupees. He will have to pay Income tax to the tune of rupees one to two lacs as income tax per year. They cannot avoid tax payment but they can if they like, earn bribe up to any extent to compensate they lose in tax payment.
  • But a manufacturing company earning profit of more than one crore per year can avoid tax payment completely by using various tools of tax avoidance suggested by tax officials, tax consultants and Chartered Accountants. In India one may find persons or firms in every town who guide businessmen how to avoid tax payment, who suggest various illegal ways for tax evasion and who works as broker for tax assessing officials and setting bribe sharing rates among tax officials, businessmen and broker himself for passing of IT assessment order from tax offices.
  • River of black money flaws from houses of these business icons only because they know many ways of tax avoidance and it is they who are master in creation of black money. It is they who keep politicians happy by giving them alms in many ways and it is they who in turn provide safety net to business houses from the clutches of tax officials. They altogether work in nexus with each other.

2015
    • As a thumb rule you must file an IT Return in India for AY 2015-16 if your Gross Income is more than
      • Rs 2,50,000 if you are less than 60 yrs old.
      • Rs 3,00,000 if you are 60-80 yrs old and
      • Rs 5,00,000 if you are more than 80 years old.

2015
  • While communicating with business people, the language you use must be consistently appropriate in style and tone.

The following are the basic features of formal writing.

  • Write all verbs in full. Do not use contracted forms like don’t or can’t.
  • Do not use abbreviations such as info (for information) and asap (for as soon as possible).

2015

Corporate Tax:

  • Reduce from 30% to 25% over next 4 years

Other than Corporate Tax:

2015

How to disable WhatsApp blue ticks for read messages

    • WhatsApp have introduced a new feature that lets users know that their messages have been read, with the double grey ticks appearing in front of the messages turning blue
    • And now, just as quietly, the mobile messaging service is letting users of its Android app disable the feature with the rollout of WhatsApp version 2.11.444. This version is available for users on WhatsApp’s website for now, and will eventually be rolled out to all users.
    • Here’s how you can disable the blue coloured read receipts’ with the message timestamp on whatsApp’s Android app:
      1. Make sure that your Smartphone is running on Android 2.1 or a newer version.
      2. Go to settings menu and enable Download from Unknown sources in the Security tab
      3. Go to the WhatsApp website and download the APK (application) file available under http://www.whatsapp.com/Android/
Financial Management