Awards Received – ACCOUNTANT OF THE YEAR and CUSTOMER CENTRIC BUSINESS OF THE YEAR

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We are honored to have received Two Awards at the Intuit Quickbooks Excellence Awards 2013 in association with Bloomberg TV India at Delhi on 21st November 2013. Naresh J Patel & Co, Chartered Accountants received “ACCOUNTANT OF THE YEAR” and for NRI Advisory … Continue reading

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Budget Analysis for Investors: How to Efficiently Plan your Investments NOW for Maximum Benefit

Budget 2017 has proposed many important changes related to investments. Efficient Planning of your equity, debt as well as real estate investment could materially affect the investment returns. I have analyzed the effect of major changes proposed in the budget … Continue reading

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Rs. 500 and Rs. 1000 Currency notes No longer valid in India from November 9, 2016 – An Analysis

“From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. These notes are just papers from tomorrow,” said Prime Minister Mr. Narendra Modi. The announcement was made to combat black money, corruption, counterfeit currency … Continue reading

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Brexit and its effect on NRI Investments in India – An analysis

Understanding Brexit: Brexit means BRitain’s EXIT from the European Union (EU). EU is an economic and political partnership involving 28 European countries. It has grown to become a “single market” making goods and people to move within EU very easy. … Continue reading

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15CB, 15CA Procedures Updated: Understand new procedures applicable from April 1, 2016

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Finally, the Central Board of Direct Taxes (CBDT) issues Notification no. 93/2015 dated December 16, 2015 that is both reasonable and practical for anyone making payment to a non-resident or an NRI remitting money outside India or transferring from NRO … Continue reading

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“Non Filing of Income Tax Return – Reg.” notice and Eye-opening Reality of Information Gathering by IT Department

Recently, the Income Tax Department (ITD) has become very aggressive in widening the tax base through identification of stop-filers and non-filers by issuing notices to  persons who it thinks may have filed the return. The notice would say,  ”The Income … Continue reading

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5 Speedbreakers on the highway of Ind AS Implementation

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Speedbreakers on the highway of Ind AS Implementation Financial reporting in India is passing through very remarkable moments owing to adoption of Indian accounting standards (Ind AS). For companies covered under Phase – 1 of mandatory Ind AS Financials, 1st … Continue reading

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New Revenue Recognition Standard Ind AS 115 deferred?

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New Revenue Recognition Standard Ind AS 115 deferred? The corresponding standard of Ind AS 115 is IFRS 15 Revenue from Contracts with Customers. Let us first understand why there was need to issue new standard IFRS 15 by IASB in … Continue reading

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NRO to NRE transfer Update: 15CB/15CA required for Both “Taxable” and “Non Taxable” Transfers

From June 1, 2015, any person making a payment to a non-resident, including an NRI transferring funds from NRO to NRE account would be required to obtain a certificate from a Chartered Accountant in form 15CB and file form 15CA … Continue reading

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IFRS now reality – Get Ready!!!

On February 16, 2015, the ministry of corporate affairs notified the Indian version of International Financial Reporting Standards (IFRS), to be referred as Ind AS.  39 IND AS are issued aimed at convergence of the Indian accounting framework with globally … Continue reading

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Setting up Business in Vibrant Gujarat & Incredible India

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Setting up Business in Vibrant Gujarat & Incredible India 7th Vibrant Gujarat Summit, has well begun today on 11th January 2015 at Mahatma Mandir, Gandhinagar, Gujarat, India. At this time, it is imperative to know the key facts of Gujarat … Continue reading

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Destination India 2: Important initiatives by new Indian Government……Have you invested in India or still watching?

Indian government, under Mr. Modi’s leadership with a mantra of “Minimum Government, Maximum Governance”, has taken some very important initiatives to reduce bureaucracy, increase transparency, speedy execution, reduce redundancy, improve work culture, foster international relations, increase defense capabilities and guard borders, increase … Continue reading

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Forex Remittances allowed upto US $125,000; FPIs can trade in currency derivatives; and NRIs allowed INR upto Rs. 25,000

RBI in a bi-monthly Monetary Policy Statement on June 3, 2014, announced 3 important measures related to Non Resident Indians (NRI), Foreign Portfolio Investors (FPI) and foreign exchange remittances by Resident Indians: 1. Last year, to stem rupee depreciation and … Continue reading

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Destination India: How to Invest in World’s next bull market

Election result of India, the Biggest democracy in the World, gave clear mandate to the“Development” agenda of Mr. Narendra Modi who has successfully led Gujarat as a Chief Minister for 12+ years and put the state in the limelight with his … Continue reading

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Capital Guaranteed (in USD) Insurance Plan for NRIs – An Analysis

Looking at the success of the Leveraged FCNR deposits, increased interest of NRIs of investment in Leveraged products, continuous inquiry from NRIs to increase their returns and lower LIBOR rates, financial services industry is very much interested to come up … Continue reading

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