Marriage of ex-collegue on 25th Nov 2007 at Guruvayoor:

One of our ex-collegues - Santhosh invited us for his wedding which happened last week in Guruvayoor Temple.

Me, Hari joined them in Chennai Central Station to Thrissur.

Sai and Deena came from Bangalore and got us in Thissur.

Nakul came from Madurai.

Kannan Devendran came from Trivandrum.

We went to Chotanikarai Bagavathy Amman Temple on Saturday, the 24th Nov.
ON 25th, after attending the marriage, we had a good dharshan of Lord Krishna in Guruvayoor. Did shopping and bought many stuffs.

It was a fun-filling trip and we all enjoyed to the maximum core. Hope to have a trip like this again quite soon.

Few photographs:

History of Accounting:

Bookkeeping and record-keeping methods, created in response to the development of trade and commerce, are preserved from ancient and medieval sources. Double-entry bookkeeping began in the commercial city-states of medieval Italy and was well developed by the time of the earliest preserved double-entry books, from 1340 in Genoa.


The first published accounting work was written in 1494 by the Venetian monk Luca Pacioli. Although it disseminated rather than created knowledge about double-entry bookkeeping, Pacioli's work summarized principles that have remained essentially unchanged. Additional accounting works were published during the 16th century in Italian, German, Dutch, French, and English, and these works included early formulations of the concepts of assets, liabilities, and income.


The Industrial Revolution of the mid-1700s created a need for accounting techniques that would be adequate to handle mechanization, factory-manufacturing operations, and the mass production of goods and services. With the emergence in the mid-19th century of large, publicly owned business corporations, owned by absentee stockholders and administered by professional managers, the role of accounting was further redefined.


Starting in the mid-20th century, machines—particularly computers—performed many of the bookkeeping functions that are vital to accounting systems. The widespread use of computers broadened the scope of bookkeeping, and the term data processing now frequently encompasses bookkeeping.

Alert on Tax Saving Efforts:

The Govt. of India has signed a contract with IBM for Rs.205 crores to create database of 375 lakhs income tax assessees based in Mumbai, Delhi, Hyderabad, Chennai and Ahmedabad. IBM was to start this work from Sep 2007.

Further, this year Income Tax dept has not been accepting TDS certificates, donation receipts etc. along with income tax returns. This tends to believe that Indian Income tax dept is coming in position to cross verify all your claims electronically.

An assessee can be issued notice of scrutiny for a period of 6 yrs. If you can't satisfy your ITO about genuineness of your return or payment of taxes, you could be asked to pay addl. tax with interest and the IT dept is empowered to levy 300% penalty.

One needs to engage efficient CA to attend scrutiny. An efficient CA may charge Rs.2,000/= or more per hour for time he devotes for visits to Income tax office and the time he spends in his office for preparation of replies. The CA's bill may come for more than Rs.25,000/=.

This year and last year income tax dept has issued plenty of notices to small income assessees whose capital is big.

Normally, the ITO gives tension to assessees. During scrutiny, he can ask for your passbooks and can verify correctness of your claims and in the process may come across various other issues.

Saving Rs.1,00,000/= in tax is no wise decision looking to the gravity and contract to IBM for creating database.