Questions to ask while designing Employee Incentive Schemes

Performance Incentive Schemes have all along been considered an important tool in the hands of the management, to differentiate between high performers and others, and to suitably reward the former. Where the overall output is dependent on employee group efforts, typically seen in manufacturing environment, group incentive schemes have been considered appropriate. Where individual performance matters, as it happens in some of the Software Services...

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New Year Resolution: Have A 'Stop Doing' List

“The difference between successful people and very successful people is that very successful people say ‘No’ to almost everything.” (Warren Buffet) The new-year 2015 is approaching and as usual we all would start to write down our resolutions for the new year.  If you observe very closely, our resolutions are always on the lines of things that we would do, things that we would finish etc.  As per a research, 75% of the people...

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TNVAT - How to make E-payment of TNVAT?

Recently, TNVAT Department has made the e-payment of monthly taxes, mandatory in respect of assessees whose turnover during the previous year is more than 1 Crore. As a prelude to the complete computerization and online management system in TNVAT, many assessment circles have issued notices to all assessees irrespective of their turnover to make only e-payment. How to make e-payment of TNVAT monthly tax payments ? First the assessee has to log-in...

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Know Your Bank Balance through Mobile

தற்பொழுது ஒரு மாதத்திற்கு 5 முறை மட்டுமே இலவசமாக ATM எந்திரம் வழியே பணம் எடுக்கவோ அல்லது வங்கி கணக்கில் உள்ள கையிருப்பு பணத்தை பார்க்கவோ முடியும். *அதற்கு மேல் பார்த்தால் ஒவ்வொரு முறைக்கும் 20 ரூபாய் பிடித்துக்கொள்ளப்படுகின்றது. இதனால் சாமானிய மக்கள் பாதிக்கப்பட்டுள்ளனர். *தற்பொழுது இலவசமாக வங்கி கணக்கில் உள்ள கையிருப்பு பணத்தை அறிந்து கொள்ள இலவச நம்பர் சேவை அறிமுகப்படுத்தப்பட்டுள்ளது. *கீழே கொடுக்கப்பட்டுள்ள இலவச எண்ணிற்கு கால் செய்தால்...

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Five rare benefits of filing regular 'Income Tax Returns'

What is the benefit of filing income tax return? this is the first question when a client ram into the office of a CA or Tax lawyer. Generally professionals have pre-defined answers for this, as it benefits for Loan, CC limit, or being loyal with the govt etc etc . But do every one of us know what are the RARE benefits of filing Income tax returns regularly i.e. without any gap ? Here is the answer 1. For job appointment  in Judicial &...

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5 Heads of Income Tax in India

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My First Leadership lesson in My Office

The Happiest moment in my office meeting. I felt a small nervous before all the seniors. Finally I decided that Pen is better than mouth. Any-ways, whether good or bad, I used my opportunity. That's all....

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Accounting for Construction Contracts

The following is the text of the Accounting Standard (AS) 7 issued by the Institute of Chartered Accountants of India on 'Accounting for Construction Contracts'. The Standard deals with accounting for construction contracts in the financial statements of contractors. In the initial years, this accounting standard will be recommendatory in character. During this period, this standard is recommended for use by companies listed on a recognised stock...

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Update on Indirect Tax - Service Tax and Excise for the month of Dec 2014

A. Service Tax 1. Service Tax payment for the month of November, 2014 is due for payment on 6th December, 2014 for assesses excluding Individual, Proprietary Firm, Partnership Firm or LLP. It is now mandatory for all assesses w.e.f. October 1, 2014, to pay their dues through internet banking (e-payment) (In case the assessee wants to use any mode other than internet banking, a specific permission...

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