CA student wins tax professional award

Stephane Baller,of Ernst & Young,France,said in a letter written to Ernst & Young,India,“We celebrate the victory of Asmita Paranjpe from India this year. I feel it is a good idea to nurture talent like hers.”

“It was a truly stunning moment when I held the trophy in my hand. The case study that I had to present dealt with two hypothetical entities in distinct nations. I had to examine the tax implications of transfer pricing of these entities in the context of the broad conventions followed globally,” Asmita said,elaborating on the competition. She is currently pursuing her Chartered Accountancy Course from the Institute of Chartered Accountants of India (ICAI) and is undergoing the second year of her Articleship training.

Apart from her interpretation of the case,she also outlined a well thought out strategy that could be applied by the entities in order to minimise their tax burden and optimize the benefits of low taxation zones.

The participants were given an hour to interpret the situation after which they presented their thoughts to the jury. “We had to justify our analysis in the wake of a rapid cross-fire of questions from the eminent members of the jury,including members of the French Ministry of Tax,” she added.