DEC. 22, 2002
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Two Slab
Income Tax

The Kelkar panel, constituted to reform India's direct taxes, has reopened the tax debate-and at the individual level as well. Should we simplify the thicket of codifications that pass as tax laws? And why should tax calculations be so complicated as to necessitate tax lawyers? Should we move to a two-slab system? A report.


Dying Differentiation
This festive season has seen discount upon discount. Prices that seemed too low to go any lower have fallen further. Brands that prided themselves in price consistency (among the consistent values that constitute a brand) have abandoned their resistance. Whatever happened to good old brand differentiation?

More Net Specials
Business Today,  November 24, 2002
 
 
Sharpest Of Them All

So, here they are: the winners of the Acumen 2002 Finals. The B-school students of India who proved that they are sharp enough. Find out how they did precisely that.

Quiz
National Champions School of Communication and Management Studies, Cochin: Deepak Chandran, Soumit Deb

1st Runner Up
XLRI, Jamshedpur: Naveen Ahmed, Ganesh Raman

2nd Runner Up
SP Jain Institute of Management & Research: Smitha S., Dharmendra Singh

3rd Runner Up FMS, Delhi: Rohan Gopal Khanna, Devesh M Das

The Buzz-Beeps
The quiz contest was no less a cracker, with quiz-master Joy Bhattacharya (of ESPN Super Selector fame) looking in need of a ringmaster's whip. In the ring: the West zone's SP Jain Institute of Management and Research, Mumbai, the East's XLRI-Jamshedpur, the South's School of Communication & Management (SCM), Cochin, and the local favourites, Faculty of Management Studies (FMS), Delhi.

It was roars, wails and laughter all the way, some credit for which must surely go to Rajiv Rai and Anustup Datta of Quizician, who set the questions. The very first one, in fact, on the leveraging of female assets by Sara Lee's division Bali Co (yes, Wonderbra), got the hall nice and attentive.

The participants proved themselves remarkably well-informed, though there were some tough nuts which even they couldn't crack. Thrown open to the hall's audience, the correct answer was found more often than not, winning these pop-up trivia-heads such prizes as Ray-Ban shades and Titan watches. There were some greying crowns in the audience, though the most vocal group was certainly the local mob from FMS, which cornered most of the audience prizes.

Q. Earnings Before Interest, Tax, Depreciation and Amortisation, popularly called EBITDA, is a common measure used by financial analysts to gauge the underlying health of a business. However, after the recent spate of accounting scandals, the acronym has been re-expanded to... what?

A. Earnings Before I Trick the Dumb Accountant

The quiz rounds had suitably interesting titles. There was Management in Action, TCS Tech Bytes and Money Talks. Speaking of which, if EBITDA used to stand for Earnings Before Interest, Tax, Depreciation and Amortisation, what do you suppose it has changed to? Answer: Earnings Before I Trick the Dumb Accountant.

As if to provide proof of the contest's competitive intensity, each quiz round threw up a new leader. The finish, surely, would leave the participants (and supporters in the audience) with some serious fingernail indigestion. And so it was. As the last round began, there was only a gap of a few points between topper XLRI and the rest. School of Communication and Management's Chandra and Deb, last on the chart, were to be seen getting off their seats, presumably to get better buzzer-access, standing. Or else, a plain case of nerves. Or maybe the determination of underdogs. Whatever it was, the audience watched agape as the boys from Cochin first closed the lag and then stole ahead -- right at the very end -- to win the quiz.

There's something for one and all: A member of FMS fraternity accepts a pair of Ray-Ban sunglasses as an audience prize from quizmaster Joy Bhattacharya

"The best thing about Acumen is that people, who are more familiar with the IIMS and FMS, get to know about us in SCM as well," said team-member Deepak Chandran, jubilant in victory. Celebration plans? "We don't know yet," said his equally overwhelmed partner Soumit Deb, "but we'll wait for things to sink in first." It's heady stuff, being declared the sharpest of them all.

 
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