CA Gunavanth Vaid

**New Valuation Framework by SEBI: A Step Toward Market Reliability** SEBI has made crucial changes to the valuation framework for Alternative Investment Funds (AIFs), following inputs from industry participants. These adjustments focus on improving the accuracy and transparency of valuations, addressing key concerns raised by the investment community. The new framework aims to provide more accurate financial insights, fostering a deeper sense of reliability within the market. By enhancing how AIFs are valued, SEBI is ensuring that the valuations are reflective of market conditions and aligned with global standards. The changes come in response to evolving industry needs, aiming to bridge gaps in the existing valuation methods and promote better governance practices. These reforms are expected to boost investor confidence by providing more reliable financial disclosures, thereby enhancing the overall integrity of the alternative investment market. Read this article on Business Standard: https://lnkd.in/gZ6GSEqg #BurgeonLaw #SEBI #AIFs #Finance #Regulation #BankingSector #India

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IFSCA relaxes investment restrictions on retail schemes in IFSC, enhancing opportunities for Fund Management Entities. For more details, refer to Circular No: IFSCA-IF-10PR/1/2023-Capital Markets. Harsh Sanghvi #ifsca #ifsc #fundmanagement #investment #investmentopportunities #capitalmarkets #kamdardesaiandpatelllp

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Join the Live Webinar on Tax Implications of NRI Investments in India! 📅 Date: 12th July 2024 (Friday) 🕒 Time: 5:00 PM – 6:00 PM (IST) 💻 Register Now for FREE! (Limited Slots Available): https://bit.ly/45ZQZOg Don't miss out on this informative session! #NRI #TDS #nriinvestment #nritaxation #nonresidentindians

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𝗥𝘀 𝟭.𝟵 𝗧𝗿𝗶𝗹𝗹𝗶𝗼𝗻 𝗶𝗻 𝗜𝗣𝗢 𝗦𝗵𝗮𝗿𝗲 𝗦𝗮𝗹𝗲𝘀 𝗡𝗼𝘄 𝗦𝘂𝗯𝗷𝗲𝗰𝘁 𝘁𝗼 𝗟𝗧𝗖𝗚 𝗧𝗮𝘅 Over Rs 1.9 trillion in secondary share sales via IPOs since April 2018 face scrutiny for potential long-term capital gains (LTCG) tax evasion. Ambiguity over LTCG applicability led many promoters and PE firms to avoid taxes. The latest Budget clarifies this issue retroactively, enforcing LTCG from April 1, 2018. This change impacts nearly two-thirds of the Rs 3 trillion raised through IPOs since FY19, necessitating back taxes and interest payments. #finance #news #IPO #LTCG #Tax Source:- https://lnkd.in/g9_-tmce

*GST UPDATE* *Summary of Outcomes from the 54th GST Council Meeting held on 9th Sept, 2024.* *1. GST Rates Reduced* *1.1 Namkeens* and Extruded/Expanded Savoury Food Products: GST rate reduced *from 18% to 12%* for certain savoury food products. *1.2 Cancer Drugs*: GST rate reduced from 12% to 5% on Trastuzumab Deruxtecan, Osimertinib, and Durvalumab. *2. GST Rates Increased* *Car and Motorcycle Seats*: GST rate increased *from 18% to 28%* on car seats to bring parity with motorcycle seats. *3. New Section to be Inserted* *Section 128A of CGST Act, 2017*: Introduction of procedures for waiver of interest or penalty under section 73 for FYs 2017-18, 2018-19, and 2019-20. *4. New Rule to be Inserted* *Rule 164 in CGST Rules, 2017*: Provides procedure and conditions for waiver of interest or penalty under section 128A of CGST Act, 2017. *5. Clarifications* *5.1 Roof Mounted Package Unit (RMPU)* Air Conditioning Machines for Railways: Classified under *HSN 8415 with 28%* GST. *5.2 Life and Health Insurance*: A Group of Ministers (GoM) will examine GST on life and health insurance. *5.3 Flying Training Courses*: GST exemption clarified for DGCA-approved courses. *5.4 Preferential Location Charges (PLC)*: Clarified that PLC forms part of composite supply with construction services. *5.5 Affiliation Services*: Clarification on the taxability of affiliation services provided by educational boards and universities. *5.6 Ancillary/Intermediate Services by GTA*: Clarification that services provided by GTA in the course of transportation constitute a composite supply. *5.7 Import of Services by Branch Office*: GST exemption clarified for services imported by foreign airline companies without consideration. *6. Others* *6.1 Reverse Charge Mechanism (RCM)*: Introduced on the supply of metal scrap and renting of commercial property by unregistered persons (URP) to Registered Persons ( RP) *6.2 TDS of 2% on supply of metal scrap by RP in B2B Supply* *6.3 ITC allowed on demo vehicles to dealers of car* *6.4 B2C E-Invoicing*: Pilot rollout recommended for selected sectors and states. *6.5 Invoice Management System (IMS)*: Introduction of new ledgers, including a Reverse Charge Mechanism (RCM) ledger and an Input Tax Credit Reclaim ledger. *6.6 Film Distribution Services*: GST liability for past periods regularised where the distributor acts on a principal basis. *6.7 Electricity Supply Services*: Exemptions provided for certain ancillary services related to electricity supply. *7. New Recommendations* *Group of Ministers (GoM) on Compensation Cess*: Formation recommended to study the future of compensation cess. Regards: *CA Anubhav Nagelia* *Anubhav Nagelia& Associates*

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Audit Regulator NFRA slaps a penalty of Rs. 2 cr. on Audit Firm, Rs. 10 lakh and Rs. 5 lakh respectively on the EP and EQCR, for substantial deficiencies in the audit of Coffee Day Enterprises Ltd..... Read a detailed analysis >> https://buff.ly/3Nl0u1F #LawStreetIndia #LSI #law #Taxsutra #Flash #NFRA #penalty 

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GIFT City, IFSCA offers various benefits to NRIs, OCI, FPIs and Foreign Nationals. It's a NO TAX regime with lower cost of transactions and Nil Currency Risk. Two products are interesting - GIFT NIFTY (The USD Denominated NIFTY 50 index ) and AIF funds which allow NRIs to use the GIFT City route for investment in the Indian market. (Equity AIFs and MF AIFs) Calling all Investment advisory companies, Wealth Management entities, Wealth Managers, CA and Law Firms to be part of this growing story! You can be our ASSOCIATED DISTRIBUTORS, which will benefit your customers. Of course at a lucrative commission-sharing structure. Interested? Feel free to call / WhatsApp at +91 9967165230 for more information. Or Email to [email protected] #CA #investments #wealthmanagers #charteredaccountants #personalwealth #pmsservices #pmsadvisory #investmentadvisory #NRI #nriinvestment #globalaifinvestment #aifs #fundmanagement 

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Important Update for FY25 Capital Gains Tax in India The Income Tax department has just announced the Cost Inflation Index (CII) for FY25, which is used to calculate long-term capital gains tax on assets like property, securities, and jewelry. This year's CII is 363, which is higher than FY24 (348) and FY23 (331). Here's what it means for you: Reduced Tax Liability: The CII helps adjust the purchase price of your asset for inflation, ensuring you're taxed on real gains, not just inflation-driven increases. This can significantly lower your tax burden. Fairer Tax System: By considering inflation, the CII creates a fairer tax system that avoids penalizing taxpayers for holding assets long-term. Key takeaway: If you plan to sell any long-term capital assets in FY25, be sure to factor in the new CII to calculate your capital gains tax accurately and potentially reduce your tax liability. Further considerations: This is a good opportunity to discuss tax planning strategies with a financial advisor to optimize your tax situation for FY25. Stay tuned for further updates on tax regulations that might impact your financial decisions. #FY25 #CapitalGainsTax #TaxPlanning #Inflation #India

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Attention all finance professionals and taxpayers! 📢 The Income Tax department has just released the Cost Inflation Index (CII) for FY25, pegging it at 363, higher than the previous years. What does this mean for you? Reduced tax liability and a fairer tax system. Be sure to factor in the new CII when calculating your capital gains tax. Now's the time to strategize with a financial advisor for optimal tax planning in FY25. Stay informed for more updates on tax regulations that could impact your financial decisions. #FY25 #CapitalGainsTax #TaxPlanning #Inflation #India #startup

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PPF accounts with excess contributions beyond the Rs.1.5 lakh annual limit, multiple accounts – all such accounts will be declared irregular with changes proposed. Check out how these new rules will affect the irregular accounts. https://lnkd.in/gUERa8i5 PS: I had written about this 2 years back when I found few of my clients contributing more than the stipulated limit in PPF. PPF rules are finally catching up from October this year. #PPF

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🔍 What to Expect from the 54th GST Council Meeting! 🔍 The 54th GST Council Meeting on 9th September 2024. Key discussions on rate rationalization, compliance simplifications, and potential new policies are expected to shape the future of GST. #GSTCouncil #TaxReforms #BusinessStrategy #India #FinanceNews

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Finshares Objectives Of the Week Which of the following is/are listed on company's balance sheets? A. Godwill B. Debt B. Most of the information about debt can be found on the balance sheet - but some assets and debt obligations are not disclosed there. For starters, companies often possess hard-to-measure intangible assets. Corporate intellectual property (items such as patents, trademarks, copyrights and business methodologies), goodwill and brand recognition are all common assets in today's marketplace. But they are not listed on company's balance sheets.

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