The winner’s curse, Auction theory and the Noble Prize 2020

Auctions are exciting – a live ongoing fierce competition with people bidding to win a prized asset. It is common for items of art and historical importance to be auctioned; however, auctions have been more commonly used in selling items such…

Richie Rich and Slumdog – How pandemic is widening the gap!

“Last week, one of our employees, Shiv Kumar, made an unusual request for an advance against his salary. While the need for advance during current times is self-explanatory, we were surprised at the amount that he requested, as it was almost…
Business of Cricket – Indian Premier League

The Business of Cricket – Indian Premier League (IPL) Explained

COVID-19 cases are raking up every day and yet the cricketing body, Board of Control for Cricket in India (BCCI) is organising the mega event – Indian Premier League (IPL). The league involves hundreds of star cricketers, their support staff,…
Farmers’ Bills

The New Farmers’ Bills: The Good and the Bad, Explained

We buy, cook, eat and even waste food with such ease and live in comfort as food is always available at our realms. We are grateful that we aren’t amongst the 73 million in Africa, 43 million in the Middle East and 18.5 million in the Caribbean…

Section 206C (1H) - TCS on sale of goods & some practical aspects

Introduction – As per Income Tax Act, 1961, certain persons are required to collect tax from their buyer at specified rate on specified transactions. In order to widen and deepen the tax net, it is proposed to amend section 206C to levy…