CIBIL Score – Credit History of your debts

One of my friend, Vivek, had applied for a housing loan from one of the leading private sector banks. However, he was quite disappointed when he got a call from the bank that his CIBIL score was good enough to pass the internal appraisal process of the bank and therefore, the loan cannot be sanctioned…

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Banking Ombudsman – Last Mile Solution to your Banking Grievances

A couple of months back, there was a news in the media regarding HDFC Bank levying quarterly charges to its ‘Preferred’ customers. However, the best part about it was that such inclusion of the customer in the list of Preferred customers was not carrying an express consent from the customer and further, such charges were…

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Additional Disclosures in Income Tax Returns

The financial year 2016-17 has just ended and Income Tax Department has already released the income tax return forms, so as to ensure timely compliances by the citizens. While the income tax return forms have been made complicated and complex with each passing year, the data collection through Income Tax Returns (ITRs) has also been…

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Pain of Rs. 1000 Note

In a surprise move on 8th November, our PM announced the demonetization of existing series of high denomination notes of Rs. 500 and Rs. 1000 from the coming midnight. In simple words, the Govt. effectively made Rs. 500/ Rs. 1,000 notes non-eligible for any market transactions with almost immediate effect. While this move attracted lots…

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9/11 Moment for Black Money in India

While I was out for dinner with my friends a couple of days back, my mobile started ringing with constant message and Whatsapp notifications. The pace of messages was indeed alarming for me to make a quick check on what had really happened. I could read just a couple of notifications and all were providing…

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A New Season, A New Beginning!

With a new season of Blogbuddy unfolding, it is now the time to take the real thing, the blogging thing to the next level. While I have been a part of Blogbuddy v1.0 and v2.0 as well, the activities mostly remained confined over the discussion part and the execution part was missing therein. Even though…

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India at Rio Olympics 2016

I woke up today at the news of the wrestler, Sakshi Malik ending the medal jinx haunting the nation and finally opening accounts for India’s medal tally at Rio Olympics 2016. These games have brought more disappointments than positives for India, which had sent its largest contingent ever to Olympics. In the majority of the…

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An Autobiography of Patriotism

While the whole nation is celebrating its 70th Independence Day, I happened to notice someone at the Central Park, Connought Place, New Delhi, sitting silently and not interacting with anyone. When I got a bit closer, she seemed a bit upset. She introduced herself as Deshbhakti aka Patriotism. She put her heart out before myself…

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Reliving Old Days!

There was a time when we used to find meaning to our endless meaningless talks. There used to be a time when we need not check the time to meet our friends. While we have gotten so busy in our own daily routines, somewhere in our hearts, we always desire to get back to our…

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Accounting for Staff Loans

Financial reporting in India is expected to change tremendously due to applicability of Indian Accounting Standards since current Indian GAAP (Generally Accepted Accounting Principles) are divergent from the notified Ind-AS in many respects. One of the articles written by me on the subject also got published in The Chartered Accountant May 2016 issue. The article…

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