Tuesday, 1 October 2013



 QUICK VIEW ON INCOME TAX E-FILING STATISTICS FOR F.Y 2012-13







Why INR currency is sinking in the universal currency ocean ???
First 10 Reasons why INR currency is sinking in the universal currency ocean

•  Widening Current Account Deficit: (FEMA) The widening gap between what India earns from the rest of the world and what it pays to them is pushing up demand for the dollar and other foreign currencies.

•  Policy Inaction: Perception of lack of clarity on policy front is also fanning speculative demand wherein the Reserve Bank of India (RBI) on one day said it will tighten liquidity and on yet another said it will inject $1 billion into the market.

•  Falling Forex Reserves: India's foreign exchange (Forex) reserves are enough to cover imports of seven month only. The forex reserves have steadily declined in the recent months, due to which the RBI can't intervene aggressively sell dollars to prop up the rupee.

•  Economic Slowdown: India's gross domestic product (GDP) growth fell to a decade low of 5% in 2012-13 and 4.5% in the January-March quarter. As a result, foreign investors are losing confidence and pulling money out of the Indian markets.

•  Dependence on Foreign money: India's current account deficit was financed by foreign money for the last many years. Withdrawal of money by overseas investors is leading to the weakness in the rupee.

•  Recovery in the US: The slow but steady recovery in the US is making the greenback stronger against other currencies, as investors pull out money from other markets to reinvest in the US.

•  Stimulus Withdrawal: Indications that the US may withdraw or ease the fiscal stimulus package could potentially tighten liquidity in global markets and put the brakes on funds for developing economies.

•  Capital Controls: The decision by the Reserve Bank and the government to impose temporary restrictions on capital flows has not gone down well with the markets. It  not only discourages Indian companies from investing abroad, but also foreign firms from pumping money into India.

•  Trends in other markets: The rupee is also following the trend seen in the currencies of other emerging economies such as Brazil, Indonesia, Russia and South Africa. Only China has seen its currency appreciate against dollar in recent times.

•  Speculative Trading: Speculative trading in the currency markets is putting further pressure on the rupee.

What is the remedy for this problem??? how can we save our economy???
In 1970 1$ = Rs. 4
Today 1$ = Rs. More than 62
Estimated 1$ by end of the year = Rs. 70
Dollar is not getting stronger, rupee is getting weaker! & nobody else is responsible for d fall, except us!
How can we change it!
Some of these small changes in our daily routine can lead to a Major difference..
here are some of the Desi Tips..the list can be increased...

1. A Cold Drink produced for 70-80 paisa sold at Rs. 9-10!  Stop drinking them, Drink Lemon juice, Lassi, Fruit juice, butter milk etc. instead of coke, pepsi.

2. Use Soaps such as Cinthol, Santoor,Medimix, Neem, Godrej brands instead of lux,lifebuoy, rexona, liril, dove, pears, hamam,camay, palmolive!

3. Toothpaste-
Use Neem, babool, vicco, dabur instead of colgate, close up,pepsodent, cibaca

4. Toothbrush
Use prudent, ajanta,promise instead of colgate, close up, oral-b, pepsodent, forhans

5. Shaving cream- Use godrej, emamive,old spice,Instead of Palmolive,  Gillette

6. Blade-
Use supermax, topaz, laser, ashoka Instead of seven-o-clock, 365, gillete

7. Talcum powder- Use santoor, gokul,cinthol, boroplus Instead of ponds, old spice, johnson,shower to shower.

8. Milk powder Use indiana, amul,amulya Instead of anikspray,milkana, everyday milk, milkmaid

9. Shampoo- Use Nirma, Velvette, head and shoulders, pantene Instead of halo, all clear, sunsilk

10. Mobile connections- Use bsnl, airtel, reliance,idea Instead of vodafone

11. Food-Eat at jay bhavani, TGB, local restaurants Instead of mac-d, subway, pizza hut, kfc

12. Mobile Use micromax, karbonn, lava Instead of samsung,apple, htc, sony

13. Bikes- Use hero, royal enfield Instead of honda, yamaha

14. Footwear- Use bata, chavda Instead of nike, reebok, adidas, converse

15. Jeans and shirts Use spykar, k-lounge In stead of lee, levi's, U.s. Polo, pepe, benetton

 16. Watch Use titan, sonata,fasttrack Instead of tommy, Citizen, zodiac, tissot

Dont use products from hindustan lever, Only name is hindustan it has been taken by foreign company
We blame politicians
Now go and check the things you use and ask yourself how much do you contribute to the decreased value of RUPEE
You use these foreign made products & Government hav to pay in dollars for d same thus value of rupee Decreases.
Aren't u responsible for fall of rupee.
Samsung S4 at Rs 41k. Same features Micromax Can4 comes at Rs 17k means u waste Rs 24k and these 24k go to south Korea in dollars.
None of the indian products are subordinate in quality, they might look a bit less fancy!!
Why is china so ahead, because the whole world uses made in china items.

We indians could atleast use made in india items!

Tuesday, 24 September 2013

Highlights of the new Companies Bill

The Apex house of the Parliament passed the Companies Bill on August 8, 2013 after much hindrance  The bill replaces Companies Act, 1956, and had been passed by the Lok Sabha in December last year. Key highlights of the new Companies Bill are as under:


1. Incorporation of a One Person Company has been permitted.

2. Numbers of permissible members in private company has been raised to 200 as against existing limit of 50 members.

3. Listed companies shall have at least 1/3rd of the total number of directors as Independent Directors and the Central Government may prescribe the minimum number of Independent Directors for any class of public companies.

4. Nominee director cannot be regarded as Independent Director.


5. Maximum term of Independent Director has been restricted to five years at once subject to a maximum of two such terms.



6. Appointment of at least one woman director on the board of prescribed classes of companies has been made mandatory.



7. Appointment of at least one director resident in India, i.e. a director who has stayed in India for at least 182 days in the previous calendar year, is made mandatory for all companies.


8. Maximum number of directors has been increased from twelve (12) to fifteen (15) directors, Further no Central Government approval is required to increase the maximum no. of directors beyond fifteen(15). Shareholders of companies may do so by passing a special resolution.

9. A person can hold directorship of up to 20 companies, of which not more than 10 can be public companies.



10. No listed companies shall appoint:

i. an individual as auditor for more than one term of five consecutive years, and

ii. an audit firm as auditor for more than two terms of five consecutive years.


11. Shareholders are at liberty to decide by passing resolution that audit partner and the audit team, be rotated every year.



12. CSR has been made mandatory for a company having Net worth of Rs. 500 crore or more, or Turnover of Rs.1,000 crore or more or Net profit of Rs. 5 crore or more during any financial year. Under the new bill, companies are required to spend at least 2% of their average net profits for the three immediately preceding financial years on CSR



13. The new bill bans holding Treasury Stock which is often used by companies to increase shareholding or future monetization after consolidation.



14. Financial Year of any company can end only on March 31 and only exception is for companies, which are holding / subsidiary of a foreign entity requiring consolidation outside India, can have a different financial year with the approval of Tribunal.