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Monthly Archives: February 2009

Effects of Section 40 (B) of Indian I.T.Act

Today, I am here on my Blog with a special Post which perhaps may not concern to most of my Readers who are not involved in business. Actually, this Article was written for my community members of Accounting and Taxation on PeerPower, an Exclusive web site of Times Group for Professionals only; but, being the same to be extensive to the limit of number of certain words, I thought to publish it here. Our family businesses fall under various categories of firms such as Proprietary, Partnership, Private Company as well as Professional. We are not purely dependent on our Tax Consultants and therefore we take keen interest in Taxation and its planning limited to our own concerns for fair discussion with them prior to finalize the documents of taxation.   

To make my Article precise, I’ll discuss only the provision of   Remuneration to Partner/s under Section 40 (B). Up to Ass. Year 1992-93, the Partnership Firms (Both Business and Professional) were levied Firm Tax; and over and above, the Partners also had to pay Individual Personal Tax on share of profit earned from the firm. Thereafter, as per provision of Financial Act 1992, the Partnership firms have to pay tax on total income at the flat rate of 35% and later on from Ass. Year 2006-07at the rate of 30% with applicable Surcharge as well as Education Cess. The Partners have to mention their share of profit as Non-Taxable Firm Profit in their Income and Expense A/c and such income is tax exempted u/s 10 (2-A).

As per above Financial Act of 1992, some notable provisions were made in Clause 40 (B) and accordingly the working partner/s are allowed to have Firm Management Remuneration. Following Table indicates what amount the working partner can have based on Book Profit of the firm. Remuneration to partners can be paid only to working partner/s authorized by the partnership deed. It should not pertain to period prior to partnership deed and must not exceed the limits prescribed.
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Posted by on February 25, 2009 in Article

 

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My Broken Heart! – A Gujarati Poem (ભગ્ન હૃદય!)

My Gujarati Readers,

As you know – my some Articles (Stories and Poetry) in Gujarati, but preamble in English, have been published on my blog previously. For your convenience, I have re-arranged my categories on right side bar. You may click ‘Gujarati’ or ‘pdf Attachment’ to reach those Articles.

Here is an emotional poem. The poet is internally unhappy and this very truth is known to somebody darling only. In the eyes of the people, the poet is materialistically the happiest man; but, but …..

Please proceed on.

ભગ્ન હૃદય!

અમારા આ જીવનવનને નંદનવન સહુ લેખે,
કિંતુ અમ અંતરે છાયા એ રણને તું જ પિછાણે.

અમારી આ જીવનસરિતાને નિહાળે કલકલ વહેતી સૌ,
કિંતુ કકળાટ અમ દિલનો તું વિણ કોણ એ જાણે ?

ભર્યાભાદર્યા આ ઘરમાં, ટહુકતાં સ્વજનો વચ્ચે,
અમારી એકલતાને બૂઝનારી દૃષ્ટિ તું જ પાસે.

અમારા હાસ્યની છોળો દીસે ઊઠતી ચોતરફ સૌને,
ઘૂંટાતા કારમા દિલના રૂદનને એક તું જાણે.

જીવન વિષે તો ભાગ્યશાળી સૌને હું ભાસું,
જીવન ભવ્ય છે કે ભાર,એ તો તું જ તો જાણે.

ભૌતિક સુખસુવિધાઓ તો ખડકાયે જતી મુજ પર,
પારાશીશી એ સુખની ગણાયે કે ન તું જાણે.

ઊઝરડાએલા આ દિલને શાતા મળે ક્યાંથી,
એ તો હું જ જાણું, પણ પાસ તવ વ્યર્થ એ આશા.

(તા.૦૩-૦૮-૧૯૮૪)
– વલીભાઈ મુસા

 
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Posted by on February 11, 2009 in gujarati, Poetry

 

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A Grave Note on Shoe-missiles! – ‘Seldom’ such Posts (2)

Click here to read in Gujarati

Records of ancient civilizations indicate many references to shoes. Plenty of evidences are there to prove how and why our primitive ancestors had started using modern shoe-like optional means such as wrapping larger and thicker leaves and skins of dead animals to bottom of their feet and also using wooden sandals for protection from pointed stones, thorns, mud and burning sands while roaming in search of food and shelter.

 

Bush

Wen-Jiabao

Utility of shoes has recently progressed excessively and its use as a weapon (missile) and sign of protest has started! An Iraqi journalist named Muntazer al-Zaidi hurled his shoes all of a sudden at US President Mr. George W. Bush during a Joint Press Conference with Iraqi Prime Minister Mr. Nouri al-Maliki at Baghdad on December 08, 2008 and subsequently on February 03, 2009 a protester(whose name could not be traced out) also hurled abuse and then a shoe at China’s Premier Mr. Wen Jiabao at Cambridge University (U.K.).

Above two episodes excited the people of the world with controversial feelings of both fun and disliking. Most of them have enjoyed much with their bias towards victimized fellows and their foreign policies. But a very few have condemned the events on disciplinary arguments that a guest should not be insulted with such a rude behavior.

My attempt here is to analyze and discuss some root causes of both the unfair happenings in a condensed way. Before I proceed on, I would like to quote below the utterances of both so-called heroes while hurling shoes to their targets just to understand how and why they re-acted so in public.

While throwing shoes one after another to Mr. Bush who was the most powerful politician in the world and responsible for imposing two wars on the world, Zaidi had said, “This is a goodbye kiss from the Iraqi people, d**! This is from the widows, the orphans and those who were killed in Iraq”. Mr. Bush was talking about an American security agreement and a strategy framework agreement between two countries. And, a Protester (most probably a Tibetan and/or an activist of Human Rights) against the Chinese Premier while throwing his one shoe towards stage of auditorium had addressed him as a ‘dictator’ and shouted loudly in fit of anger, ‘How can this university prostitute itself with this dictator and how can you listen to him unchallenged?’ Mr. Wen was delivering a speech on the global economy.

It cannot be negated that there were some political mistakes from the part of big-headed countries. Mr. Bush had many times accepted his blunder of attacking Iraq. Anti-war group ‘Code Pink’ which is mainly lead by women had arranged demonstration outside the White House in support of Zaidi’s action that he had expressed the sentiments of millions of people who are angry at George Bush’s policies. The protestors threw shoes at a large puppet looking like Mr. Bush turn by turn for hours and the U.S. Secret Service stood by during the protest; however there were no conflicts with authorities and no arrests were made. Similarly, Mr. Wen Jiabao was on a five nation ‘Confidence Tour’ to Europe and at his last stop in U.K. for three days the protestors followed him to demonstrate over human rights and Chinese policy in Tibet.

My good Readers should not misunderstand that the non-disciplinary actions of Mr. Zaidi in Iraq and the Protestor at Cambridge are justified or approved in this Article. It is true that any citizen of any country should not treat a guest rudely and in an insulting manner. Such misbehaviors become as the shame to a Host country and its security system. It is the responsibility of a host country to protect the guest both physically and mentally.

Protestors may adopt many non-violent measures such as tying black ribbons on arms, waving black flags, holding posters or banners in hands and uttering slogans in civilized manner. Same way, Media people and News Reporters must observe the ethics of Journalism. They may ask questions politely with consent of stage management, but they should not behave in such a manner that they might not like happen so with own Heads or delegates of their country elsewhere.

Above two episodes of shoe-hurling teach many lessons to the nations of the world. Any nation should not interfere into the domestic (internal) problems of other countries. Sovereignty is the soul of any nation and in any circumstances, any other country, individually or jointly, has no right to challenge it. UN proved to be weak in preventing wars due to the only reason that its status remained like a puppet against harsh behaviors of super-power nations. It is the right time now to change the entire constitution of UN with the prime change of cutting off the Veto Power specially favored to super power nations.

In both Afghanistan and Iraq wars, millions of civilians were killed which was totally against humanity and also the breach of Geneva International treaties on the laws of war. Oil wells were set to fire with the aim of weakening economy of respective countries ignoring the value of natural resources useful to mankind. Agricultural land was made barren with tons of massive bombardment. Many historical and religious properties were damaged. Most horrified matter was that the national integrity of those unfortunate countries was harmed and the people were divided in sects and groups with unfair diplomatic incitements to one or the other group or sect.

Now, turning to Tibetan issue, we can see that China considers Tibet as part of its territory and Tibetans demand full autonomy. Tibet’s struggle is spread over last 50 years and during this period its people have suffered a lot. Tibetans are afraid of losing their identity under the Chinese Rule. They people think that their culture and rich religious heritage cannot remain safe under China. On the other hand, it is the naked truth that the daily violence carried out by Chinese authorities is very common in Tibet. Constant violations of human rights are ignored by UN and the rest world.

Breach of Human Rights, either affecting to a mass or an individual, should always be criticized. How sad it is that Zaidi, in spite of being a citizen of Iraq, is badly treated during and after his arrest by Iraqi Government itself. Some authentic sources have brought the truth open that when Zaidi was arrested and being taken to jail, he was subjected to violence throughout the car journey. His ribs have been broken and his left eye was hit with a gun. It is reported that he is passing through the risk of losing his eye sight for ever.

No doubt, violation of a public order and law is a punishable crime, but the arrested person is simply a detainee until charged with a specific crime. Brutality towards a detainee, an under-trial or even the convict is the violation of Human Rights. Now, the question – “Who will punish those officers?” will remain un-answered until we hear of any actions taken by Iraqi Government.

Summing up, it is possible that the shoes thrown at Mr. Bush and Mr. Wen may give a lesson to all those rulers who are cruel and have dictatorial attitude.

-Valibhai Musa

 

 

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A thoughtful thought! – ‘Seldom’ such Posts (1)

Click here to read in Gujarati

Some years ago, I had read in some Gujarati News Paper the news that an International Conference on ‘Attitudes of Parents towards Childhood Disciplinary Behaviors’ was held at Istanbul (Turkey). One of the participants in debate had suggested that the children should not be physically punished but instead of that the pillows should be thrashed with fists or sticks in fit of anger. My Readers will smile gently as I also do, but there is a portion of little bit truth in the suggestion. It is a middle way between expressing anger and protecting child-respect. Remedy is interesting, but foolish also. The naughty child will show its teeth with smile when we hit to the pillow as punishment.

 

beatles-pillows

My pondering over above suggestion inspires me to modify it in a way that instead of punishing the pillow in lieu of the child, we should hit the pillow to the child provided it should be soft to avoid any injury. Parents will be satisfied and the child will think that it has been punished. Thus, the pillow will work as a non-violent weapon like Mahatma Gandhi’s practice of ‘Satyagraha’, a non-violent weapon. Shouldn’t Educational Institutions also provide pillows to the teachers for punishment to the pupils along with educational equipments? There is no need of any special provision for parents as the pillows are always available at their hand-reach in their households.

Though pillow-hurling is a light, safe, non-violent and effective punishment, we cannot deny the fact that there is a tender hardness and disguise bitter feeling of hatred in it. Psychologists of education and parenthood will not approve this method and thus there remains only one option of ‘Forgive and forget’. In Sanskrit, there is a slogan as “Forgiveness is the ornament of the brave.” But, such tendency is not possible for a common man and therefore they may implement direct or indirect pillow-hitting or pillow-hurling punishment to the children.

Now, my mobile thinking enters the world of corrupt politicians and dishonest bureaucrats spread over world-wide in little or more proportion. I see no any difference among innocent playful children, those politics-playing politicians and termite (white ants)-like Government servants boring holes within country’s economic progress. They also do some blunders (Passive violence) like misappropriation of money, mismanagement in administrative system and hundreds of non-ethical practices repeatedly like those children. But, we should not put any blame upon them as they themselves are not responsible as persons for their unfair acts. All blames should go to their chairs; and if we wish to punish them, we should break the legs of their chairs instead of their own legs. Their chairs are the root causes of their intoxicated state of power.

While proceeding further, I recall my memory of having read some Articles on ‘Co-ordination of Science and Philosophy’. In light of scientific definition, the pillows and chairs are inanimate objects; but children and politicians as well as bureaucrats are sentient humans. Parents and public should be careful to honor the feelings of both children and band of those poor rogues. They should be given indirect punishments as thrashing pillows or breaking chairs. Here, like self-proved geometrical theorem, if we have to give any priority for punishment, we should prefer first inanimate rather than sentient.

At this juncture, one more sub-question arises. While giving preference between inanimate and sentient, if we find both inanimate, what should we do then? In case of a politician or bureaucrat and the chair, it is obvious that chair is inanimate; but suppose that if the politician or bureaucrat is also inanimate, then what to do! In my opinion, the answer of the question is quite straight. We should judge who is more inanimate whether the chair or its user and we should punish accordingly. In botanical science, the plant of cotton and a tree are considered as sentient as long as they are live. But, as soon as they get dry, they become inanimate. Logical argument will be as a sentient will turn into an inanimate when it loses its life or sensation. Those cheats, by adopting the skin and tears of a crocodile, have lost their sensation and therefore they are liable to be punished directly.

For honest governance of a nation, the top-level cleanliness is necessary. Gandhiji’s one of the movements was cleanliness in streets as the part of hygienic care of people. A nation can be economically healthy only when its politics is clean. Just to remove political pollution in our country of India, the provision of Clause 49-0 of Election Rules must be made effective with some amendments. The voter must have the right of ‘No vote to any candidate’ in case of not a single candidate is found deserving. For this very purpose, the Election Commission should provide an extra box for ‘No Vote’ in Ballot Paper. It is very interesting to know that if number of ‘No Vote’ is higher than number of winning candidate, the Election of the respective constituency will be null and void. Further, in Re-polling situation, none of the former candidates can be participant for the second time. Thus, all Political Parties also can be taught a good lesson for issuing tickets to only deserving persons for candidateship to contest elections. Thus, the honest State and Central Governments would be able to clean up the Bureaucratic, Corporate and all types of civic dirt by making the Anti Corruption Bureau more active and Judiciary system quick.

Summing up, I have pleasure to announce that I have started a new series of Articles titled as – ‘Seldom’ such Posts. Above is the very first post of its kind; and, I’ll publish such in future, not regularly but seldom as and when my mood hits me.

A line in response to my endeavor of putting my thoughts in this post will highly be appreciated.

With best regards,

– Valibhai Musa

 

 
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Posted by on February 1, 2009 in Article, લેખ, education, MB

 

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