Budget 2021 Analysis: Important takeaways for Investments, Taxation and Compliance

Budget 2021 was projected as “Budget Like Never Before” creating a lot of expectations in tax benefits for tax payers. While there is not much changes in the tax codes, it is a great budget as it paves a way for establishing a trusting relationship between investors and tax payers. The […]

Attestation of Prospective or Provisional Financial statements/ Information – Is it allowed?

Attestation of Prospective or Provisional Financial statements/ Information – Is it allowed? (a) Attestation of Prospective Financial Statements /Information? As per clause (3) of part-I of Second Schedule to the Chartered Accountants Act, 1949, a member in practice will be deemed to be guilty of professional misconduct if he engages in estimation […]

Quick Summary of Compliance Relaxation Measures announced by Finance Minister

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 has extended compliance deadlines and provided various relief measures in Income […]

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

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 value as on 1/4/2001 to the stamp duty value for calculating […]

Budget 2020: Important Changes that Affect Investments and Taxation in 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 determining tax liability. The Budget 2020 has made many changes including […]

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

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 perpetuity and not be required to declare the global income in […]

Decoding Budget 2019 (No. 2) for NRIs: 11 important changes and their effect on NRI Investments and Taxation

On July 5, the First full-time Female Finance Minister of India, Ms. Nirmala Sitharaman, presented the budget in the Parliament. While it may be a mixed bag for many, the one category it affect the most, and that too positively, is Non- Residents (NRIs/ PIOs). We have analyzed all the budget […]

Decoding Budget 2019: The Hidden Opportunity for Smart Investors to Create Tremendous Wealth

The interim budget 2019 included few indicators properly placed in the budget speech, if identified and analyzed properly, could become a great opportunity for smart investors to create tremendous wealth in long term. This blog tries to explain and analyze the same. 1.Vision 2030 and Economic Growth For the long term […]