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Dear Jitendra,
The recent week has been filled with the analysis of Union Budget unveiled by Honourable Finance Minister on February 29th. The third budget of Mr. Arun Jaitely prioritized the fiscal discipline and assured his faith in overall growth of economy by accelerating the core pillars of Indian Economy which is agriculture, rural, social sector, skills, ease of doing business and tax & compliances reforms.
While there have been different perspectives, the righteos actions have been taken wherever considered necessary by the ministry. The budget, neverthless, is promising and oriented to core reforms that may result in better strucutured Indian Economy. What is your perspective? Share with us and we, the team of Exactitude Advisors is happy to assist you in understanding its impact on your business. [click here for our budget analysis in case you missed.]
Team Exactitude!
Ind AS/ IFRS
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If you would have people speak well of you, then do not speak well of yourself. --Blaise Pascal (1623 - 1662) French mathematician, physicist, theologian
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From listening comes wisdom, and from speaking repentance. --Italian Proverb
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Everyone is wise until he speaks. --Irish Proverb
Economy
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Words are weapons, and it is dangerous . . . to borrow them from the arsenal of the enemy.--George Santayana
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All about 6% Tax on online advertisement / Google Tax
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Wise sayings often fall on barren ground; but a kind word is never thrown away. --Arthur Helps (1813 - 1875) English historian, novelist, essayist
Exactly
17 Camels and 3 sons
Long...long ago, there lived an old man with his three sons in a deserted village, located in the vicinity of a desert. He had 17 camels, and they were the main source of his income. He used to rent out camels as means of shipping in the desert. One day, he passed away and he had a will, leaving his assets for his three sons.
After the funeral and the other obligations were over, the three sons read the will. While he divided all the properties he had into three equal parts, he divided the 17 camels in a different way. It wasn’t shared equally among the three as ‘17’ is an odd number and prime number, which cannot be divided.
The deceased old man stated that the eldest son will own half of the 17 camels and the middle one will get the one third of the 17 camels and the youngest one will get his share of camel as one ninth!
All of them were stunned to read the will and questioned how to divide 17 camels as mentioned in the will.
It is neither possible to divide 17 camels and give the half of the 17 camels to the eldest one nor able to divide the camels to the other two sons. They spent several days to divide the camel as mentioned in the will, but none could find the answer.
They finally took this issue to the wise man in their village. The wise man heard the problem and instantly found a solution. He asked them to bring all 17 camels to divide them as intended by their father.
The sons brought the camels to the place. The wise man added a camel owned by him and made it count 18.
Now, he asked the first son to read the will, he get half the camels, which now counts to 18 / 2 – 9 camels! The eldest one got 9 camels as his share.
Remaining camels left – 9 camels
The wise man asked the second son to read the will – he was assigned a share of 1 / 3 of the total camels.
It comes to 18 / 3 – 6 camels. Second son got 6 camels as his share.
Total camels shared by the elder sons – 9 + 6 = 15 camels.
The third son read his share of camel – 1 / 9th of total camels – 18 / 9 = 2 camels.
The youngest one got 2 camels as his share.
Totally there were 9 + 6 + 2 camels shared by the brothers, which counts to 17 camels.
One camel brought by the wise man was taken back.
The wise man solved this problem smartly with his intelligence. Intelligence is nothing but finding a common ground to solve an issue.
Take away: A small step of extra mile may solve various difficult solutions of life.
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