Ethics Ratan Tata Quotes

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Ratan Tata speaks of JRD’s business ethics. One of India’s best known tax consultants, Dinesh Vyas, says that JRD never entered into a debate between ‘tax avoidance’ which was permissible and ‘tax evasion’ which was illegal; his sole motto was ‘tax compliance’. On one occasion a senior executive of a Tata company tried to save on taxes. Before putting up that case, the chairman of the company took him to JRD. Dinesh Vyas explained to JRD: ‘But Sir, it is not illegal.’ Softly JRD said: ‘Not illegal, yes. But is it right?’ Vyas says not in his decades of professional work had anyone ever asked him that question. Vyas later wrote in an article, ‘JRD would have been the most ardent supporter of the view expressed by Lord Denning: “The avoidance of tax may be lawful, but it is not yet a virtue.
R.M. Lala (The Creation of wealth: The Tatas from the 19th to the 21st Century)