Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: form 3cd :: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: list of goods taxed at 4% :: VAT Audit :: ACCOUNTING STANDARDS :: VAT RATES
« News Headlines »
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016

A dozen IRS Officers resign for Packages of Rs. 1 Crore
January, 10th 2008

Poor   Packages of IRS Officers in Revenue Department has taken its toll with a dozen IRS Officers from Customs & Excise and Income Tax Department resigning from the Government for greener pastures having offers from the Corporate World.

A Commissioner of Customs posted in New Delhi has already resigned. He is said to be having an offer of Rs. 1 Crore per annum from a big company having stake in Financial and Infrastructure Sector.

A Commissioner of Central Excise posted in Karnataka has also resigned.  Further, an Additional Commissioner of Central Excise posted in NCR has also resigned.

Several more IRS Officers have got their resignation letters typed and are waiting for advice of their astrologers for putting auspicious date and signature. Those opting for voluntary retirement will also get the benefit of Pay Commissions recommendation which will be effective from 1st January 2006 as far as Pension and other benefits are concerned.

There has been a wide gap in the packages offered by the Government and the packages being offered by MNCs and Indian Corporates.  Even a CA with one year of experience is offered a package of Rs. 10 lakh which is much more than the salary package of the Chairman of Central Board of Direct Taxes or Central Board of Excise & Customs.

An ex-IRS Officer who is now with a Big Consulting company is already getting a package of Rs. 1.5 Crore per annum. Even an Inspector of Central Excise Department has been hired by a Big Consulting Company as Manager on an annual package of Rs. 24 lakh.  CAs with 8 to 10 years experience are hired by Consulting Companies as Director for their Tax Advisory Practice on Packages ranging from Rs 50 Lakh to Rs 80 Lakh Per Annum. Those having over 10 years experience are hired as Partners on Packages ranging from Rs 1 Crore to Rs 2 Crore.

When some candidates without any Professional Degree are anointed as Country Head with package of Rs 2 Crore per annum by some Companies; IRS Officers having wide exposure and expertise deserve and can expect much better Positions and Packages. Several SEZs are already looking for CEOs on Packages of Rs 1 to Rs 1.5 Crore and an IRS Officer is their first choice considering his rich experience in Export-Import regulations and procedures.

Those joining Consulting Companies are gainers in short term but are losers in long term. An IRS Officer who resigned in Eighties and floated his firm is said to be having annual billing of over Rs 100 Crore. An Inspector of Central Excise who resigned couple of years ago now has a billing of Rs 5 Crore. Those joining the Companies have also to retire on turning 60 ; but in your own once you create your name in the market; the name sells and the sky is the limit even if the work is handled by the juniors. An employee gets a hike of 15 to 20 per cent per annum ; while an Independent Professional can grow by 50 to 100 per cent per annum if he can market himself.

It is always a better option to make Rs 10 Lakh of your own as an entrepreneur rather than getting Rs 50 Lakh as an employee. If you set up a Company; the fruits go to generations and with PE money flowing and floating in India; you can also sell a small stake of your Company for few Crores after running it for few years.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions