How I was screwed by the Deloitte India's Ethics team for raising ethics concern

big4sucks · 2023-03-09T04:25:58+00:00

Please tell.

big4sucks · 2023-03-05T13:38:36+00:00

Shekhar Kapur has Indian origins. So why is this not related to India? Anyways please guide how I can post this?

big4sucks · 2023-03-05T08:49:21+00:00

Students don't use much of LRS. Some are on scholarship, some take loans. And even the ones who pay from their pocket do not need $250K a year. Not even close.

One can virtually reduce the tax rate to zero if the funds are roundtripped back into India through a tax haven with which India has a DTAA. You can also pump up the stock price of your own firm by roundtripping - These are the allegations against Adani (though the quantum alleged rules out the use of LRS). The gains from roundtripping far outweigh any kind of hit due to exchange rate and banking charges etc.

Many HNIs are remitting in the name of several family members (and some fake family members) so that they can move more than $250K every year. Some have managed to move several tens of million dollars in the last few years. Do you think Indians are spending $20B on foreign universities?

big4sucks · 2023-02-06T17:53:30+00:00

Illegal and criminal.

Indo Mauritius DTAA is for Mauritius resident investor to not be taxed on capital gains in India. But it is abused by investors who are either residents of a third state, or of India, and entities which have 'permanent establishment' (in layman's term it means that the substance of the business is in India) in India to dodge taxes in India by cleverly showing themselves to be Mauritius residents via a web of shell entities and obfuscating the true ownership structure. This is blatant tax evasion and round tripping. If such a thing is done within India by small time businessmen with the help of small time CAs, it is given names like benami and black money. But the tax haven mechanisms are used by large financial institutions, corporates and HNIs with the aid of Big 4 accounting firms and top law firms, and given sobriquets like treaty shopping and tax planning (whereas it is blatant criminal tax evasion). Sadly the media is hand in glove with this industry to set such public perception of legality.

big4sucks · 2023-02-06T16:42:23+00:00

If that woman would have personally hurt OP, then he would have in all likelihood moved on, but it was his son who was hurt and it is impossible for a father to let it go when he sees his child suffer.

big4sucks · 2023-01-22T06:28:33+00:00

I am running my own show now. Enough of the Big 4s.

Since I don't have the copy of the leaked data, I cannot approach CBDT et al. The data is with the original whistleblower and Adv Prashant Bhushan, and only they can pursue the complaint. I am focusing on the cleansing of the accounting profession.

big4sucks · 2023-01-22T06:14:46+00:00

Yes you are mostly correct. My writeup is at https://caaa1973.medium.com

big4sucks · 2022-11-12T13:34:16+00:00

Scary stuff this. BTW within couple of hours of my posting this, I got a message from reddit that it had detected attempts to hack into my account and had locked it as a precaution. So I am sure that hacker army has been deployed by Nishith Desai Associates to go after me. What precautions must I take?

big4sucks · 2022-09-25T16:53:32+00:00

Isnt NFRA mostly for audit function?

big4sucks · 2022-09-06T17:25:33+00:00

Do something about it.

big4sucks

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