Saving face can be an expensive business

Your credit card XXXX9999 is credited with exgratia amount of ₹ 12.45 on November 4, 2020, under scheme announced by government of India. Read FAQ on this link”. This SMS message from my credit card issuing bank caught my attention both because it was unexpected and because the amount of relief offered was meagre. But[…..]

Avoid taxing hardship compensation twice

I had written in my column dated August 30, 2020, about how the newly introduced Taxpayers´ Charter is likely to be more effective as it is now a part of the main Income Tax Act itself and carries the sanction of Parliament. Here, I am outlining a very fit case of double taxation of Hardship[…..]

Guaranteed loans have multiplier effects

The Covid19 pandemic has devastated many sectors in India leading to significant loss of livelihood.Salaried people have lost their jobs and the self employed have been forced to shut down.Among other things, the government has announced a guarantee package of ₹ 3 trillion for medium and small enterprises (MSME). The government will stand guarantee for[…..]