Just a thought to add to the aforesaid post that was made on Facebook, just a few moments ago. I know what I am going to say will sound very philosophical to the reader of this article, but that is besides the point. What is important to note, however, is that we are living in a system that drills into our heads that what you think is the only thing that can be correct for you. But this is a gross fallacy, and the reason why I am writing about it, is because I have fallen foul in many people’s thoughts, simply because I choose to be forthright and blunt because of my sun sign “Sagittarius”. Not a very great believer of astrology or readings of the stars, but at the same time, I do not make fun of it. On the lighter side, I can add that being a “Fire” sign sure lights many a fire in all the wrong places that one can imagine !!
Indeed, it is YOU who decides the fate of many a person whom you meet on your journey of life. So this is just a general thought that cannot point towards anyone specifically, because life has taught me well to always be positive. In the ultimate analysis, the only person who really loses anything at all in making any kind of judgement about any other person who walks the face of this Earth, is YOU YOURSELF.
So to all my friends, readers and well-wishers across the globe, it is a piece of sage advice, never judge a person by only his words or only his looks or only by what comes first to your mind in just one meeting. Remember, first impressions are usually the lasting impressions – and also, the cold hard fact is that the good that men do is often forgotten easily, its the bad things that have an unfortunate habit of staying alive in your brain.
Cheers and have a good day ahead of you. Thanks for the patient reading of my humble thoughts.
CA VIKRAM S. MATHUR
17-Feb-2017 | 00:00 Hours IST
This Tax Alert summarizes a recent ruling of Supreme Court of India (SC) in the case of Gopal and Sons (HUF) (Taxpayer) on the issue whether advance received by the Taxpayer from Indian Company wherein the Taxpayer’s Karta is a registered shareholder can be regarded as deemed dividend under the provisions of the Indian Tax Laws (ITL).
The ITL provides for deemed dividend taxation in respect of payment by a closely held company by way of advance or loan given to (a) a beneficial shareholder holding not less than 10% of the voting rights in such company; or (b) any concern in which such shareholder (viz. holding 10% or more voting power) is a member or a partner and such shareholder has a substantial interest (20% or more) in the said concern.
The Taxpayer contended that it was neither the beneficial shareholder nor the registered shareholder of ICo as the shares were issued in the name of Karta and, hence, the deemed dividend provisions of the ITL is not applicable.
SC, however, held, deemed dividend provision is attracted in present case as the Taxpayer is a concern in which shareholder (Karta) has a substantial interest. Thus, the payment received by the Taxpayer from an Indian company (ICo), is deemed dividend under the provisions of the ITL.
SC held that a loan given to a concern can also constitute dividend if a shareholder has substantial interest. SC noted that the Karta in whose name shares were registered has substantial interest in the income of the Hindu Undivided Family (HUF) and that this proposition was not in dispute. SC, therefore, concluded that the loan was given to a concern and, hence, the loan can be considered as deemed dividend.
You can find this page here – AhmedabadFCA WordPress Sites on Facebook Pages – do visit it – and please do like it ,because this is what helps me maintain all the wordpress sites that I am currently maintaining.
CA Vikram Shankar Mathur
2nd August 2016 | 10:57 Hours
Daily Prompt: Karma Chameleon.
According to Wikipedia Karma Chameleon is defined as, and I quote
“KARMA CHAMELEION is a classic hit song by British New Wave band Culture Club, featured on the group’s 1983 album Colour by Numbers. The single spent three weeks at #1 on the US Billboard Hot 100 in early 1984, becoming the group’s biggest hit and only US #1 among their many Top 10 hits. “Karma Chameleon” was also a huge global hit, hitting #1 in sixteen countries worldwide, and the Top 10 in several more. Sleeve by the photographer David Levine.
In the group’s home country of the United Kingdom, it became the second Culture Club single to reach the top of the UK Singles Chart (after “Do You Really Want to Hurt Me“), where it stayed for six weeks in September and October 1983, and became the UK’s biggest-selling single of the year 1983. Worldwide, “Karma Chameleon” went on to sell over 5 million copies worldwide, making it one of the best-selling singles of all time. It is widely regarded as Culture Club’s signature song.
In an interview, Culture Club frontman Boy George explained: “The song is about the terrible fear of alienation that people have, the fear of standing up for one thing. It’s about trying to suck up to everybody. Basically, if you aren’t true, if you don’t act like you feel, then you get Karma-justice, that’s nature’s way of paying you back.”
The song won Best British Single at the 1984 Brit Awards. The group performed the song as a finale when they appeared in the 1986 episode “Cowboy George” of The A-Team.”
It inadvertently always reminds me of Boy George.
It is with great pleasure that I would like to announce the re-awakening of my firm’s website, or you can now call it my personal website at http://www.vsmathur.co.in and what excites me even more is the parallel launch of my wordpress blogrolls located at VSMathur WordPress, VSMathurCo WordPress and CAVSM WordPress.
Here, I would like to thank my very good friend, owner of Opal Infotech and a webmaster of International reputation for all the help that his team and he has extended towards me.