Do not over-complicate your portfolio
By Uma Shashikant It is not easy to convince an investor that asset allocation is the best way to build long-term wealth. A dear friend seriously wanted to know. It is really tough to tell...
View ArticleE-tailing booms, but e-payment falters
By Dhirendra Kumar Last week, I read an interview in which Silicon Valley legend Marc Andreessen talked about reinventing finance, with the theme being, as he put it, “We Can Reinvent the Entire...
View ArticleThe monetary value attached to art
Especially in a season of ex-chief ministers, Mamata Banerjee is not my favourite future ex-CM. And yet, at the risk of being excommunicated by both liberal and fascist friends, I find myself defending...
View ArticleGrowth prospects
By David Smith How worried should we be about the eurozone? Is the singlecurrency area the weakest link in the global economic chain since the crisis, about to enter its third recession in just over...
View ArticleBlack money: Why question the government’s integrity?
The Supreme Court demanded that the government pass on the names in its possession of Indians with bank accounts in Switzerland and Liechtenstein, brushing aside the government’s protestations about...
View ArticleTo revive growth, Modi government must now switch gears to emphasise on the...
By Saumitra Chaudhuri The verdict of the 2014 Lok Sabha elections hinged primarily on the poor conditions of the Indian economy. Raj Krishna’s ‘Hindu rate of growth’ of 3.5% is forever behind us. Three...
View ArticleInheritance tax? what’s that again, Mr Jayant Sinha?
A hint of the possibility of the reintroduction of estate tax has sent ripples of alarm among the upper echelons of society. The very thought of their heirs being saddled with such a tax is...
View ArticleAdopt GST instead of reviving BCTT, FBT
The Parthasarathi Shome led tax reform and administration commission (TARC) has run out of ideas. It wants to revive the banking cash transaction tax (BCTT) and the fringe benefit tax (FBT) to fight...
View ArticleIt makes sense to follow the rules of investing
By Dhirendra Kumar You must have heard — probably too often — the old saying about the exception that proves the rule. This has never made sense to me. How can an exception prove a...
View ArticleInsulate PEs from changing interpretation of law
By Prakash Kalothia and Anshuman Goenka In his speech at IRMA on November 25 last year, RBI governor Rajan raised concerns about growing bad loans in India and said, “The sanctity of the debt contract...
View ArticleThe Misinformation of FATCA
Last week, I traveled to India and met with Indian Chartered Accountants and financial advisors. After a few presentations to over 200 Indian tax and financial professionals, I recognized the amount of...
View ArticleThe FATCA Hunt Continues
Last month, President Obama traveled to India where he famously befriended Narendra Modi and others. There, he heralded a new era of joint cooperation on many fronts, including the exchange of offshore...
View ArticleShrinking budget, soaring ambition
This is a Budget that gives the impression of implementing a larger, consistent economic strategy. It builds upon the inclusive growth agenda of the UPA government, with an overlay of entrepreneurship...
View ArticleStronger IPR is about profits of big pharma—not jobs innovation or health:...
Nobel laureate for economics Joseph Stiglitz has strongly argued against US pressure on India’s intellectual property regime. Stiglitz, along with his colleagues Dean Baker and Arjun Jayadev, spoke to...
View ArticleChapter 11 comes to India
One of the best things in last week’s Union Budget, which has gone largely unnoticed, is the finance minister’s pledge to bring in a comprehensive Bankruptcy Code. Bankruptcy law reform is now a...
View ArticleUS IRS Clarifies Requirements for Streamlined Filing Procedures
I have received many inquiries from taxpayers interested in the Streamlined Filing Compliance Procedures with the new lower penalty. However US IRS guidance and instructions was unclear and ambiguous...
View ArticleWatch Out for Letters From Your Bank Requesting Information On Your U.S....
Numerous banks are sending letters to their customers demanding personal information to ascertain whether the customer is a U.S. citizen or a U.S. resident. The foreign banks typically state they are...
View ArticleNew US Subpoenae and IRS Data Mining Expected
Last month a US federal judge approved the US IRS issuing “John Doe” summonses requiring FedEx, DHL, UPS, and numerous other intermediaries to produce information about U.S. taxpayers who used...
View ArticleNews from the 2014 Criminal Fraud and Tax Controversy Conference
I just returned last month from attending the US Criminal Fraud and Tax Controversy Conference in Las Vegas, sponsored by the American Bar Association Section of Taxation where many US government...
View ArticleFATCA Looms Heavy Over US persons in India
This year a new U.S. tax law looms over U.S. persons in India. The U.S. Foreign Account Tax Compliance Act, or FATCA, has generated a lot of attention because, as of July 1, 2014, it...
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