• CA.Preety Parik posted an update in the group Group logoThe Wise Investor 7 months ago

    India’s Economy always did have issues of Low GDP, Account Deficit, Inflation but I think it is more of confidence levels of investors that has tuned the stock markets and rupee levels.. Pre dec, 2011, the sudden collapse of rupee in six months and now post Dec, 2011 a big rise of rupee in just one month. Today, 3/2/2012, rupee hits 48.7 …[Read more]

  • CA.Preety Parik joined the group Group logoTax Practioners at Mumbai 7 months ago

  • CA.Preety Parik posted a new activity comment 7 months ago

    In reply to: Bikash Bogi created the group Tax Practioners at Mumbai View

    why the group is so specific as AT MUMBAI. Ain’t non Mumbai tax practitioners not INVITED ??

  • CA.Preety Parik posted an update in the group Group logoThe Wise Investor 8 months, 2 weeks ago

    Media, too can have role to hit the market sentiments. If 24×7, media keep on saying markets are collapsed, rupee is falling, the mind gets absorbed with negative sentiments. Today, I was seeing business channels for one hour, all the way it flashes “rupee falls, hits another low” while the fact was in the morning rupee started with 1 USD= 53.20…[Read more]

  • CA.Preety Parik posted an update in the group Group logoInternational Tax 9 months, 2 weeks ago

    I have read the case of Vijay Ship breaking (SC) which has held that LC Usance interest is subject to TDS u/s 195. I’am not very clear with international transaction and still confused for Usance interest on LC. My querry is if foreign LC is issued by Bank of India, Pune Branch and the same is discounted by Bank of India, Singapore Branch, Is the…[Read more]

    • Bank of India, Singapore Branch will not constitute a separate assessable entity. The assessable entity is Bank of India (in respect of its global operations). As BOI is a resident entity, there ought not to be any liability for TDS u/s 195.

  • CA.Preety Parik joined the group Group logoInternational Tax 9 months, 2 weeks ago

  • CA.Preety Parik posted an update in the group Group logoThe Wise Investor 9 months, 2 weeks ago

    Rupee has very drastically fallen against Dollar in a span of six months . The current trade quote is I USD= 51INR. One can see the plight of a importer who made booked material in April/ May ( when the rupee level was 45.5 ) against Usance LC for 180 days. The payment is due in Nov/ Dec when the levels have reached 51 INR. Lets See who will…[Read more]

    • Yes, Madam, but the exporters are dancing with Joy. One man’s food is another man’s poison. But I agree, such volatility is very unnerving for the Industry.

  • CA.Preety Parik joined the group Group logoThe Wise Investor 9 months, 2 weeks ago

  • CA.Preety Parik became a registered member 11 months, 2 weeks ago