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By adopting practice of early and timely work disposal and for that purpose adopting some time saving practices, one can find lot of extra time for reading, writing, thinking and relaxation. Pending work causes lot of burden on your mind and heart- it is not good for health and wealth both. Reminders from clients should not be considered as indication of your importance but in nature of complaints. Still if you have an urge to feel reminders as praise, once a while you can delay some work, preferably a petty one and not very important to you, you will receive a reminder from client and that proves that even a petty work for you is important to the client.
In a recent case, the Madras High Court concluded that P&L account and balance-sheet are not books of account as contemplated under the I-T Act. Computation of business income under the income-tax law has to be made on the basis of `books of account’. This law has been in operation since 1992, but surprisingly there was no definition of the term till 2001. Finance Act, 2001 introduced the definition through Section 2(12A). The definition, which took effect from June 1, 2001, reads thus:
