Tag Archives: Taxes

by | March 6, 2013

A Study on Cadbury Fakes Factory in India

Cadbury Fakes Factory in India

Cadbury used nonexistent factory in India to avoid taxes

Cadbury Plc, now part of Mondelez International Inc (MDLZ.O), used a nonexistent factory in India to avoid about $46 million in taxes, the Wall Street Journal reported on Tuesday, citing a report by the Indian tax authorities. Cadbury’s Indian unit manipulated invoices and other documents to get an exemption from taxes available to companies that began production in new plants in Himachal Pradesh by March 31, 2010, the Journal said. The Directorate General of Central Excise Intelligence.



Cadbury Fakes Factory in India

which conducted the investigation, concluded that the factory could not have existed by the deadline as the company had not received the necessary approvals from government agencies, the Journal said. Mondelez is reviewing the content of the show-cause notice from India’s excise department, spokesman Michael Mitchell told Reuters in an emailed statement. “We have been fully cooperating with the authorities on this enquiry,” Mitchell said. Tax officials in India could not be reached for comment outside regular business hours. India had said in November it was investigating the local unit of Cadbury, saying the company may have evaded as much as 2 billion Indian rupees in taxes..

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by | February 23, 2013

A Study for BMC 2013-14 Budget

BMC is set to present a Rs 29,000 crore to Rs 30,000 crore budget for 2013-14 with a major thrust on strengthening its current services and completing pending projects. No additional taxes or charges are being proposed, and the civic body is unlikely to announce new projects or schemes. The BMC budget in 2012-13 was for Rs 26,581 crore, 26 per cent higher than the previous year. Civic officials said BMC will place renewed thrust on health, education and information technology areas. For the next year, too, the civic body will devote its resources to ongoing projects. “We will avoid allocating funds for new projects,” said an official.



A Study for BMC 2013-14 budget

The ambitious projects taken up during the past three years include complete concretisation of major roads and upgrade of major hospitals. But these are far from complete. The civic body was unable to spend on many projects this year. With a strengthening of its sources of income this year, BMC can provide for a substantial rise in the next financial year. “We are expecting the budget to increase by 10-15 per cent for the next financial year,” said a senior civic official.
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by | February 21, 2013

How is Budget Made & the People Behind

Budget Made & the People Behind Through the Budget, the government of the day seeks Parliament’s permission to collect funds by way of taxes, duties, borrowings and so on. These funds are used, with the approval of Parliament, to meet expenses.



How is Budget Made

Who makes The Budget: Budget is made through a consultative process involving ministry of fi nance, Planning Commission and the spending ministries States present their annual demand to the Planning Commission and others to ministries concerned Finance ministry and Planning Commission issue guidelines to spending based on which ministries present their demand.




How is The Budget Made: In September, the Budget Division issues a circular to all Union ministries, states, UTs, autonomous bodies and departments the defence forces for preparing budget estimates for the next year After ministries and departments send in their demands, extensive consultations are held between Union ministries and the Department of Expenditure of the Finance Ministry..
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by | October 1, 2012

Case Study on TurboTax experts take over Twitter

The company wanted to scale its Twitter effort to help customers with their taxes during tax season. To do so, they follow the approach of Intuit’s founder, Scott Cook. Cook created the concept of “follow me home” by literally hanging around Staples stores in the beginning of Intuit’s history until someone bought his product.

TurboTax’ seasonal business is both a strength and a weakness. On Twitter, the company has the chance to own the users who are interested in and commenting on their taxes. But that means devoted resources to the endeavor. And until this year, TurboTax wasn’t able to do that. Click here to read more…

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