Blog Archives

Investing in Pension Plans in current situation? Beware and understand Why (or Why Not)

Posted on July 16, 2020 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

Taking benefit of low Bank FD interest and low/negative return on equity mutual funds, many insurance agents are marketing pension plan heavily for safe guaranteed return. However, they may not be a good investment for you on Risk Adjusted After … Continue reading →

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Investing in Debt Mutual Fund in current situation? Beware and understand Why (or Why Not)

Posted on July 16, 2020 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

Taking benefit of low Bank FD interest and low/negative return on equity mutual funds, many MF agents are marketing medium/long duration funds for low risk investments. However, they may not be a good investment for you on Risk Adjusted Basis. … Continue reading →

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UDYAM (MSME) REGISTRATION PROCESS : Step-wise and Other important related information

Posted on July 15, 2020 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

UDYAM (MSME) REGISTRATION PROCESS: Step-wise and Other important related information CONTENT Introduction and Salient features of registration process New Registration Process: Point-wise information required Registration of existing registered enterprises Udyam Registration Certificate Updation of information Change in Classification Penalty for false … Continue reading →

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MSME / Udyam Registration: Definition, Eligibility and Issues

Posted on July 15, 2020 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

Udyam Registration (Effective from July, 2020): DEFINITION, ELIGIBILITY AND ISSUES CONTENT A. Definition of MSME B. Activities (NIC codes) not covered under MSMED Act, 2006 for registration C. How to Calculate Investment and Turnover? D. Answers to queries relating to … Continue reading →

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e-Library: Details and Link to Webinar/Webcasts on GST, Income Tax, Technology, Motivation and many more

Posted on June 10, 2020 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

Dear All, Knowledge Sharing Initiative: e-Library of details of useful video with link The Covid-19 has created a huge impact on the economy, system, and the way people used to live. There are few positives also in this pandemic. There … Continue reading →

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Understanding Winding Up of Franklin’s 6 Debt Funds, its Impact and How to invest/ Redeem in Debt and Equity Mutual Fund

Posted on April 25, 2020 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

On April 23, late evening, Franklin India Mutual Fund shut down 6 debt mutual fund schemes. No financial transaction – Purchase, SIP, STP, SWP, or Redemption would be allowed after April 23, 2020 1:00 pm cut off time. These schemes … Continue reading →

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Making sense of RBI Measures, analyze their effect and how to Plan Investments

Posted on March 27, 2020 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

On March 27, 2020, RBI introduced very important measures to combat adverse effect of covid-19 on the Indian economy. These measures are summarized, explained in simple terms and analyzed for its effect below. Overall effect of these measures on various … Continue reading →

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Quick Summary of Compliance Relaxation Measures announced by Finance Minister

Posted on March 24, 2020 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

Quick Summary of Compliance Relaxation Measures announced by Finance Minister Union Finance Minister Nirmala Sitharaman today announced various statutory and regulatory compliance relief measures amid a complete shutdown almost all over the country to control the spread of the coronavirus. FM … Continue reading →

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Covid 19: Work from Home

Posted on March 21, 2020 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

COVID-19 : How can ‘Work from Home’ be implemented? SAFETY FIRST : Measures should be taken to prevent spreading COVID-19 : Work from Home policy should be adopted as Safety of Staff, Articles and family members is our Prime Responsibility. … Continue reading →

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Leveraged FD MAY be coming for NRIs – RBI Announces USD/INR Swaps

Posted on March 12, 2020 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

Extreme Risk Aversion due to Corona virus (COVID-19) has impacted all financial assets drastically with global market indices losing 30%+ in less than a month, gold touching Rs. 45,000 and emerging market currencies experiencing extreme pressure. Also in India, FIIs … Continue reading →

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Sale Old Real Estate or Immovable Property before March 31, 2020 and Save Capital Gains Tax

Posted on February 22, 2020 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

If you are planning to sell an immovable property originally acquired before April 1, 2001, you may be better off if you sell the property on or before March 31, 2020. Budget 2020 introduced a new provision restricting fair market … Continue reading →

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IRS Form 1040 – U.S. Individual Income Tax Return

Posted on February 18, 2020 by Vishal Jagetiya (CA, B-Com)

Who must file: A Green card holder, a US citizen or any person considered a resident for tax purposes need to file an Income Tax return – 1040 by April 15, 2020. An extension of 6 months is available just … Continue reading →

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IRS Form 1065 – U.S. Return for Partnership

Posted on February 17, 2020 by Shivam Thakkar, CA

IRS Form 1065 – U.S. Return for Partnership A partnership must be an association of two or more taxpayers with the objective of making a profit. A business operated as a partnership is not recognized as a taxable entity under … Continue reading →

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USA Tax Returns : Types and Applicability

Posted on February 6, 2020 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

US TAX RETURNS – CA Vishal Jagetiya, CA Shivam Thakkar 1. Introduction The U.S. tax system is set up under both a federal and state level. There are several types of taxes such as income, sales, capital gains, etc. Federal … Continue reading →

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Budget 2020: Important Changes that Affect Investments and Taxation in India

Posted on February 4, 2020 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

Budget 2020 was introduced with an objective of “Ease of Living” with three prominent themes as Aspirational India, Economic Development and Caring Society with Good Governance and Robust Financial Sector. However, it may not result into ease of calculating and … Continue reading →

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Budget 2020: Resident definition changed – NRI can be taxed as a Resident

Posted on February 2, 2020 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

The Finance Budget 2020-2021 came as a big surprise for NRIs as it changed the definition of a “Resident” in India. The Government noticed an individual managing his/her period of stay in India, so as to remain a non-resident in … Continue reading →

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Overview of New GST Returns (Applicable from April 2020)

Posted on December 26, 2019 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

Overview of New GST Returns (Applicable from April 2020) 1.        Background                 The GST Council approved a new simplified GST return format in its 27th Council meeting. The new GST return aims at enhancing transparency and accuracy of the return … Continue reading →

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Future of Accounting:- Cloud based solutions

Posted on October 11, 2019 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

Future of Accounting:- Cloud based solutions A couple of times, we have heard desktop based accounting is good and it will give more control over accounts and secrecy of data. Well, this blog aims at debunking the above statement. In … Continue reading →

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Practical Issues on UDIN generation for Statutory Audit of Companies and important UDIN FAQs

Posted on September 4, 2019 by Chintan Patel FCA, CPA(USA), Cert.IFRS(ICAI), CISA (USA), DISA, DIRM

Generation of Unique Document Identification Number (UDIN) is made mandatory for all other audit, assurance and attestation functions by ICAI w.e.f. 1st July, 2019. Therefore this is first year where the statutory auditor of companies (including private limited company) has … Continue reading →

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Managing Wealth: 5 Lessons to Learn from the VG Siddhartha’s Letter

Posted on August 5, 2019 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

Just a week ago, who wouldn’t want to be like Mr. V G Siddhartha?   Mr. VG Siddhartha was a catalyst business tycoon and founder of the most successful coffee chain in India (Café Cofee Day), an early investor of successful … Continue reading →

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