Khavi Priya Bagya Lakshmi | Association of Chartered Certified Accountants (original) (raw)

Papers by Khavi Priya Bagya Lakshmi

International Journal of Recent Technology and Engineering (IJRTE) ISSN: 2277-3878, Volume-8 Issue-4S3, Blue Eyes Intelligence Engineering & Sciences Publication, 2019

Tax planning is one of the key aspects of financial planning from a tax perspective. Efficient ta... more Tax planning is one of the key aspects of financial planning from a tax perspective. Efficient tax planning enables every taxpayer to reduce the tax liability to the minimum. This is done by legitimately availing various tax exemptions, deductions under chapter VIA, rebates and allowances available under the Income Tax Act, 1961. The ever increasing functions of the government have naturally lead to increased expenditure, for instance, achieving the social and economic objectives laid down in the constitution, balancing regional economic growth, removing the concentration of economic power in few hands, reducing the inequality of income, and so on. The wealth of an individual is maximized by increasing the level of savings in various investment avenues. The key area of the research is to learn the appropriate popularly used tax saving instruments and also the factors influence the investment in those tax saving instruments. It is empirical research which will throw light upon the aspects of tax planning and ways to reduce the income tax liability.

The term Agile has been derived from the Latin word Agilis, which means relating to or denoting a... more The term Agile has been derived from the Latin word Agilis, which means relating to or denoting a method of project management, used especially for software development that is characterized by the division of tasks into short phases of work and frequent reassessment and adaptation of plans or able to move quickly and easily. Portfolio management is the art and science of making decisions about investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk against performance. Portfolio management is all about determining strengths, weaknesses, opportunities and threats in the choice of debt vs. equity, domestic vs. international, growth vs. safety, and much other trade-offs encountered in the attempt to maximize return at a given appetite for risk. Agile Governance at the Portfolio Level is meant as a portfolio is a collection of programs or projects and other work grouped together to facilitate effective management in order to meet strategic business objectives.

Over the years, corporates have contributed much in creating a more equitable, fairer, and more j... more Over the years, corporates have contributed much in creating a more equitable, fairer, and more just society. Yet they have much more to contribute. As a core value in CSR, social equity is no longer novel or new. Nevertheless, during the past decades, as social equity has grown in importance. Institutional reforms associated with neoliberalism and good governance have altered the roles and responsibilities of states and transnational corporations in relation to social development. Increasingly such firms are engaging more directly in social service provisioning through privatisation, claiming to be more responsive to the concerns of multiple stakeholders through corporate social responsibility, positioning themselves as partners in poverty reduction, and becoming more proactive in standard setting and privatised governance.
Four central components of equality are considered: social protection, rights, empowerment and redistribution. It is argued that the contribution of CSR in relation to these different elements varies considerably. Most CSR initiatives focus on social protection. Belatedly CSR discourse has embraced issues of labour and other human rights but CSR practice associated with the realisation of rights lags well behind. Other dimensions of equality related to empowerment and redistribution remain relatively marginal in the CSR agenda.
Given the extent of anecdotal or piecemeal evidence regarding the impacts of CSR, attention has turned in recent years to developing frameworks that identify a range of policies, practices and effects that need to be examined to adequately assess social and developmental aspects. This paper attempts to contribute to the discussion by focusing on the contribution of CSR to equality and equity, here in terms of minimising deprivation, enhancing equality of opportunity, correcting gross imbalances in the distribution of income, wealth and power, and social justice.

The responsibility of meeting the credit needs in the rural areas of the country was entrusted pr... more The responsibility of meeting the credit needs in the rural areas of the country was entrusted primarily with the cooperative sector and later to the commercial banks. One of the major objectives of the nationalization of major commercial banks in 1969-1980 was to improve the flow of formal institutional credit to rural households. Although these measures were ambitious and laudable, bank credit did not reach the poor people in adequate quantum. The financial sector reforms begun in 1992 have been systematically moving away from the social objective of the banking sector. Though banking sector has witnessed tremendous changes in recent periods in terms of technological advancements, internet banking, online money transfers, etc., “financial exclusion” is a reality.
It is in this context that the term “financial inclusion” gains importance and it is defined as the process of ensuring access to financial services and timely and adequate credit needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. The overall strategy for financial inclusion, especially amongst the poor and disadvantaged segments of the population should comprise ways and means to effect improvements within the existing formal credit delivery mechanism, as well as an evolution of new models for extending outreach, and a leverage on technology solutions to facilitate large scale inclusion.
Today the term ‘bottom of the pyramid’ refers to the global poor most of who live in the developing countries. Only two to five percent of the 500 million poorest households in the world have access to institutional credit. Due to lack of financial inclusion among the lower income households, their protection from external economic shock becomes miniscule. As a result, income disparity leads to vicious circle of poverty which continues to persist in the lower income groups. These large numbers of poor are required to be provided with much needed financial assistance in order to sail them out of their conditions of poverty. Ensuring their financial inclusion can unlock the considerable economic potential of rural areas, and benefit the rural poor by increasing household income and decent work. The ILO can contribute greatly to this goal through its technical capacity in financial inclusion and in integrating access to finance strategies in its work that reaches out to the rural economy, and leveraging the effects of this with ILO constituents.
This paper is an attempt to comprehend and distinguish the significance of Financial Inclusion in the context of a developing country like India wherein a large population is deprived of the financial services which are very much essential for overall economic growth of the country.

This paper gives a brief introduction about Knowledge Management (KM), its need, definition, chal... more This paper gives a brief introduction about Knowledge Management (KM), its need, definition, challenges and also provides information on how the KM initiative has been adopted at Infosys, to support organizational success. Both knowledge sharing, as well as reuse, needs to be encouraged and recognized at the individual employee level as well as the company level. This is best done by measuring and rewarding knowledge performance. Sustained strategic commitment and a corporate culture that is conducive to knowledge-performance are vital for success in Knowledge Management. The paper deals with the implementation of policy and future practices of KM in Infosys.

BUSINESS HORIZONS VOLUME 5 ISSUE 1 ISSN: 2395-2504, 2018

The fundamental objective of GAAP states that the financial statements must depict ‘true and fair... more The fundamental objective of GAAP states that the financial statements must depict ‘true and fair’ view of the financial state of affairs. The ambiguity of ‘true and fair’ view created a loophole towards the rise of financial frauds, thereby weakening the trust of the users of financial information on the reported statements. Unbridled increase in the financial reporting irregularities, corporate frauds, and the ‘white-collar’ crimes has popularized the concept of forensic accounting in India. Forensic accounting, an integration of investigation and accounting, is an art and science of detecting and preventing financial frauds. There is much scope for advancements in the forensic accounting techniques and legislation in the wake of unrelenting number and complexity of corporate frauds and economic crimes.
In recent times, there has been a rise in white collar crimes the world over, especially in India and this is where forensic accounting steps in. A blend of accounting, auditing and investigative skills gives rise to “Forensic Accounting”. But in reality, white collar crimes are equally consequential. This research has been inspired by various news articles, journals and the urge to explore the field. The paper examines forensic accounting as a tool that complements various auditing concepts to establish confidence in auditors’ reports to the users. In spite of the concepts of independence, integrity, fairness and objectivity auditors’ reports are still challenged and most of the times are found vulnerable. Adequate knowledge of forensic accounting will aid experts’ defence in fraud examinations and litigation support. The aim is to create awareness about the necessity and role of forensic accounting in development and betterment of the economy.

Shanlax International Journal of commerce , 2019

SME's are playing a vital role in economic development and also for the growth of India's economi... more SME's are playing a vital role in economic development and also for the growth of India's economic growth. SME's contribution to Indian economy development is at large. According to Micro Small and Medium Enterprise (MSME) Act 2006 in India, considers investment rationing for both the manufacturing sectors and the service sectors. Government of India have introduced many industrial estates, industrial parks, special economic zones for enhancing SME's status. With the onset of the globalization process, SMEs are lagging behind the rival firms. Those firms originate from the neighboring countries in terms of export competitiveness. This study will help to identify the challenges faced by SME's about lack of finance, lack of infrastructure, lack of networking, lack of information, lack of production facilities, lack of marketing skills and many more.

Books by Khavi Priya Bagya Lakshmi

Current strategies in Economics and Management Volume 3 Chapter 7 Book Publisher International, Jun 26, 2020

The concept of behavioral finance is becoming more recognized in the financial and investment env... more The concept of behavioral finance is becoming more recognized in the financial and investment environment. The concept of behavioral finance implies that investors do not necessarily make rational investment decisions. It argues that investment decisions are often influenced by emotional factors or other non-rational factors, leading to irrational investment choices. Investor’s behavior is one of the most important discussions of the science in the financial and non - financial market. It includes rational behaviour, herding behaviour, reaction behaviour and heuristic behaviour. This research paper is an attempt to comprehend and distinguish the importance of psychological behaviour of individuals towards investment and decision making. The study aimed to figure out how investors among different age categories make investment decisions based on behavioral finance biases.
This research is practical as objective and implies a descriptive - survey research method. The different phases of the research include the purpose of identifying the factors that impact the investors’ behavior and also the most preferred instrument among the respondents. This research paper exhibits key analysis tools like factor analysis, binomial distribution, chi-square analysis, correlation analysis, percentage analysis, weighted average, Kendall’s W test and regression analysis with Three Hundred as the sample size and the research was conducted within the Chennai City in Tamil Nadu, India. Questionnaires were fairly structured and the responses were collected through Google forms. The SPSS software was used for analyzing the data.
The statistically significant correlations indicate that the behavioural biases influence investor’s decision. Nevertheless, motive on investment return wasn’t significantly related to loss aversion bias, mental accounting bias, anchoring bias, regret avoidance bias, and over
confidence bias. However, there are many instances where emotion and psychology influence ones’ decisions, causing them to behave in unpredictable or irrational ways. The research findings indicate conscientiousness plays a key role in influencing investor decision making and the investors are dynamic to the changes in the investment and portfolio market. A small degree of change in the probability will have a high impact on investment decision making as the investors risk preference is highly risk-averse. The reflexive and reflective approaches to decision making will influence behavioral biases. The investor’s behavior is predominantly based on the risk and return-trade off which impacts the psychology of the investor decision making. Results show that respondents might not essentially build choices on the premise of a rational analysis of all the information.
To analyse the personality trait based on the OCEAN (Five-factor theory) and to analyse the risk preferences of the investors based on the behavioural bias, in such a way, a website was developed using React JS and deployed using AWS to advocate the individuals based on their preferences.

Current strategies in Economics and Management Volume 1 Chapter 3 Book Publisher International, Jun 2, 2020

Tax planning is one of the key aspects of financial planning from a tax perspective. Efficient ta... more Tax planning is one of the key aspects of financial planning from a tax perspective. Efficient tax planning enables every taxpayer to reduce the tax liability to the minimum. This is done by legitimately availing various tax exemptions, deductions under chapter VIA, rebates and allowances available under the Income Tax Act, 1961. The ever increasing functions of the government have naturally lead to increased expenditure, for instance, achieving the social and economic objectives laid down in the constitution, balancing regional economic growth, removing the concentration of economic power in few hands, reducing the inequality of income, and so on. The wealth of an individual is maximized by increasing the level of savings in various investment avenues. The key area of the research is to learn the appropriate popularly used tax saving instruments and also the factors influence the investment in those tax saving instruments. It is empirical research which will throw light upon the aspects of tax planning and ways to reduce the income tax liability.

International Journal of Recent Technology and Engineering (IJRTE) ISSN: 2277-3878, Volume-8 Issue-4S3, Blue Eyes Intelligence Engineering & Sciences Publication, 2019

Tax planning is one of the key aspects of financial planning from a tax perspective. Efficient ta... more Tax planning is one of the key aspects of financial planning from a tax perspective. Efficient tax planning enables every taxpayer to reduce the tax liability to the minimum. This is done by legitimately availing various tax exemptions, deductions under chapter VIA, rebates and allowances available under the Income Tax Act, 1961. The ever increasing functions of the government have naturally lead to increased expenditure, for instance, achieving the social and economic objectives laid down in the constitution, balancing regional economic growth, removing the concentration of economic power in few hands, reducing the inequality of income, and so on. The wealth of an individual is maximized by increasing the level of savings in various investment avenues. The key area of the research is to learn the appropriate popularly used tax saving instruments and also the factors influence the investment in those tax saving instruments. It is empirical research which will throw light upon the aspects of tax planning and ways to reduce the income tax liability.

The term Agile has been derived from the Latin word Agilis, which means relating to or denoting a... more The term Agile has been derived from the Latin word Agilis, which means relating to or denoting a method of project management, used especially for software development that is characterized by the division of tasks into short phases of work and frequent reassessment and adaptation of plans or able to move quickly and easily. Portfolio management is the art and science of making decisions about investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk against performance. Portfolio management is all about determining strengths, weaknesses, opportunities and threats in the choice of debt vs. equity, domestic vs. international, growth vs. safety, and much other trade-offs encountered in the attempt to maximize return at a given appetite for risk. Agile Governance at the Portfolio Level is meant as a portfolio is a collection of programs or projects and other work grouped together to facilitate effective management in order to meet strategic business objectives.

Over the years, corporates have contributed much in creating a more equitable, fairer, and more j... more Over the years, corporates have contributed much in creating a more equitable, fairer, and more just society. Yet they have much more to contribute. As a core value in CSR, social equity is no longer novel or new. Nevertheless, during the past decades, as social equity has grown in importance. Institutional reforms associated with neoliberalism and good governance have altered the roles and responsibilities of states and transnational corporations in relation to social development. Increasingly such firms are engaging more directly in social service provisioning through privatisation, claiming to be more responsive to the concerns of multiple stakeholders through corporate social responsibility, positioning themselves as partners in poverty reduction, and becoming more proactive in standard setting and privatised governance.
Four central components of equality are considered: social protection, rights, empowerment and redistribution. It is argued that the contribution of CSR in relation to these different elements varies considerably. Most CSR initiatives focus on social protection. Belatedly CSR discourse has embraced issues of labour and other human rights but CSR practice associated with the realisation of rights lags well behind. Other dimensions of equality related to empowerment and redistribution remain relatively marginal in the CSR agenda.
Given the extent of anecdotal or piecemeal evidence regarding the impacts of CSR, attention has turned in recent years to developing frameworks that identify a range of policies, practices and effects that need to be examined to adequately assess social and developmental aspects. This paper attempts to contribute to the discussion by focusing on the contribution of CSR to equality and equity, here in terms of minimising deprivation, enhancing equality of opportunity, correcting gross imbalances in the distribution of income, wealth and power, and social justice.

The responsibility of meeting the credit needs in the rural areas of the country was entrusted pr... more The responsibility of meeting the credit needs in the rural areas of the country was entrusted primarily with the cooperative sector and later to the commercial banks. One of the major objectives of the nationalization of major commercial banks in 1969-1980 was to improve the flow of formal institutional credit to rural households. Although these measures were ambitious and laudable, bank credit did not reach the poor people in adequate quantum. The financial sector reforms begun in 1992 have been systematically moving away from the social objective of the banking sector. Though banking sector has witnessed tremendous changes in recent periods in terms of technological advancements, internet banking, online money transfers, etc., “financial exclusion” is a reality.
It is in this context that the term “financial inclusion” gains importance and it is defined as the process of ensuring access to financial services and timely and adequate credit needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. The overall strategy for financial inclusion, especially amongst the poor and disadvantaged segments of the population should comprise ways and means to effect improvements within the existing formal credit delivery mechanism, as well as an evolution of new models for extending outreach, and a leverage on technology solutions to facilitate large scale inclusion.
Today the term ‘bottom of the pyramid’ refers to the global poor most of who live in the developing countries. Only two to five percent of the 500 million poorest households in the world have access to institutional credit. Due to lack of financial inclusion among the lower income households, their protection from external economic shock becomes miniscule. As a result, income disparity leads to vicious circle of poverty which continues to persist in the lower income groups. These large numbers of poor are required to be provided with much needed financial assistance in order to sail them out of their conditions of poverty. Ensuring their financial inclusion can unlock the considerable economic potential of rural areas, and benefit the rural poor by increasing household income and decent work. The ILO can contribute greatly to this goal through its technical capacity in financial inclusion and in integrating access to finance strategies in its work that reaches out to the rural economy, and leveraging the effects of this with ILO constituents.
This paper is an attempt to comprehend and distinguish the significance of Financial Inclusion in the context of a developing country like India wherein a large population is deprived of the financial services which are very much essential for overall economic growth of the country.

This paper gives a brief introduction about Knowledge Management (KM), its need, definition, chal... more This paper gives a brief introduction about Knowledge Management (KM), its need, definition, challenges and also provides information on how the KM initiative has been adopted at Infosys, to support organizational success. Both knowledge sharing, as well as reuse, needs to be encouraged and recognized at the individual employee level as well as the company level. This is best done by measuring and rewarding knowledge performance. Sustained strategic commitment and a corporate culture that is conducive to knowledge-performance are vital for success in Knowledge Management. The paper deals with the implementation of policy and future practices of KM in Infosys.

BUSINESS HORIZONS VOLUME 5 ISSUE 1 ISSN: 2395-2504, 2018

The fundamental objective of GAAP states that the financial statements must depict ‘true and fair... more The fundamental objective of GAAP states that the financial statements must depict ‘true and fair’ view of the financial state of affairs. The ambiguity of ‘true and fair’ view created a loophole towards the rise of financial frauds, thereby weakening the trust of the users of financial information on the reported statements. Unbridled increase in the financial reporting irregularities, corporate frauds, and the ‘white-collar’ crimes has popularized the concept of forensic accounting in India. Forensic accounting, an integration of investigation and accounting, is an art and science of detecting and preventing financial frauds. There is much scope for advancements in the forensic accounting techniques and legislation in the wake of unrelenting number and complexity of corporate frauds and economic crimes.
In recent times, there has been a rise in white collar crimes the world over, especially in India and this is where forensic accounting steps in. A blend of accounting, auditing and investigative skills gives rise to “Forensic Accounting”. But in reality, white collar crimes are equally consequential. This research has been inspired by various news articles, journals and the urge to explore the field. The paper examines forensic accounting as a tool that complements various auditing concepts to establish confidence in auditors’ reports to the users. In spite of the concepts of independence, integrity, fairness and objectivity auditors’ reports are still challenged and most of the times are found vulnerable. Adequate knowledge of forensic accounting will aid experts’ defence in fraud examinations and litigation support. The aim is to create awareness about the necessity and role of forensic accounting in development and betterment of the economy.

Shanlax International Journal of commerce , 2019

SME's are playing a vital role in economic development and also for the growth of India's economi... more SME's are playing a vital role in economic development and also for the growth of India's economic growth. SME's contribution to Indian economy development is at large. According to Micro Small and Medium Enterprise (MSME) Act 2006 in India, considers investment rationing for both the manufacturing sectors and the service sectors. Government of India have introduced many industrial estates, industrial parks, special economic zones for enhancing SME's status. With the onset of the globalization process, SMEs are lagging behind the rival firms. Those firms originate from the neighboring countries in terms of export competitiveness. This study will help to identify the challenges faced by SME's about lack of finance, lack of infrastructure, lack of networking, lack of information, lack of production facilities, lack of marketing skills and many more.

Current strategies in Economics and Management Volume 3 Chapter 7 Book Publisher International, Jun 26, 2020

The concept of behavioral finance is becoming more recognized in the financial and investment env... more The concept of behavioral finance is becoming more recognized in the financial and investment environment. The concept of behavioral finance implies that investors do not necessarily make rational investment decisions. It argues that investment decisions are often influenced by emotional factors or other non-rational factors, leading to irrational investment choices. Investor’s behavior is one of the most important discussions of the science in the financial and non - financial market. It includes rational behaviour, herding behaviour, reaction behaviour and heuristic behaviour. This research paper is an attempt to comprehend and distinguish the importance of psychological behaviour of individuals towards investment and decision making. The study aimed to figure out how investors among different age categories make investment decisions based on behavioral finance biases.
This research is practical as objective and implies a descriptive - survey research method. The different phases of the research include the purpose of identifying the factors that impact the investors’ behavior and also the most preferred instrument among the respondents. This research paper exhibits key analysis tools like factor analysis, binomial distribution, chi-square analysis, correlation analysis, percentage analysis, weighted average, Kendall’s W test and regression analysis with Three Hundred as the sample size and the research was conducted within the Chennai City in Tamil Nadu, India. Questionnaires were fairly structured and the responses were collected through Google forms. The SPSS software was used for analyzing the data.
The statistically significant correlations indicate that the behavioural biases influence investor’s decision. Nevertheless, motive on investment return wasn’t significantly related to loss aversion bias, mental accounting bias, anchoring bias, regret avoidance bias, and over
confidence bias. However, there are many instances where emotion and psychology influence ones’ decisions, causing them to behave in unpredictable or irrational ways. The research findings indicate conscientiousness plays a key role in influencing investor decision making and the investors are dynamic to the changes in the investment and portfolio market. A small degree of change in the probability will have a high impact on investment decision making as the investors risk preference is highly risk-averse. The reflexive and reflective approaches to decision making will influence behavioral biases. The investor’s behavior is predominantly based on the risk and return-trade off which impacts the psychology of the investor decision making. Results show that respondents might not essentially build choices on the premise of a rational analysis of all the information.
To analyse the personality trait based on the OCEAN (Five-factor theory) and to analyse the risk preferences of the investors based on the behavioural bias, in such a way, a website was developed using React JS and deployed using AWS to advocate the individuals based on their preferences.

Current strategies in Economics and Management Volume 1 Chapter 3 Book Publisher International, Jun 2, 2020

Tax planning is one of the key aspects of financial planning from a tax perspective. Efficient ta... more Tax planning is one of the key aspects of financial planning from a tax perspective. Efficient tax planning enables every taxpayer to reduce the tax liability to the minimum. This is done by legitimately availing various tax exemptions, deductions under chapter VIA, rebates and allowances available under the Income Tax Act, 1961. The ever increasing functions of the government have naturally lead to increased expenditure, for instance, achieving the social and economic objectives laid down in the constitution, balancing regional economic growth, removing the concentration of economic power in few hands, reducing the inequality of income, and so on. The wealth of an individual is maximized by increasing the level of savings in various investment avenues. The key area of the research is to learn the appropriate popularly used tax saving instruments and also the factors influence the investment in those tax saving instruments. It is empirical research which will throw light upon the aspects of tax planning and ways to reduce the income tax liability.