Hrithik Goudar

The Ministry of Corporate Affairs (MCA) has released four key notifications, effective from 10 September 2024, pertaining to combinations under the Competition Act, 2002 (Competition Act). These notifications implement specific provisions introduced in the Competition (Amendment) Act, 2023 (Amendment Act), while also expanding the scope of when notices for combinations must be filed and outlining instances where exemptions from filing may apply. These exemptions aim to streamline business transactions by exempting combinations that do not raise competition concerns, thereby reducing the compliance burden for transactions that are unlikely to have an appreciable adverse effect on competition. Read more: https://lnkd.in/grq8s-gn

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#Buybacktax #Unionbudget2024 Buy back tax u/s 115QA is proposed to be abolished. Companies undertaking buy back of shares w.e.f 1st October, 2024, would not be required to pay buy back tax. Instead, amount received by the shareholder on buy back of shares will be deemed as dividend in the hands of the shareholder and will be taxable at the applicable rates. No deduction of any expenses undertaken for buy back would be available. Cost of acquisition of shares bought back would be deemed to be capital loss in the hands of the shareholder (assuming consideration of shares to be nil). Such capital loss would be available for a set off from capital gains as per the relevant carry forward and set off provisions.

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Just wanted to ask how many organizations having permits or licenses are not flouting the permit or license conditions? How many inspections are carried out and guilty are punished? Our system always works with knee jerk reaction. Totally corrupt & inefficient system.

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Expected - Increased income Tax for higher tier income individuals Reduced Income Tax for Middle tier income individuals

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Time to settle direct taxation issues on land This article in The Economic Times #Realty supplement highlights one of the many loopholes in #DirectTax laws related to #Land in India. To render commercial land development as a level-playing field, it is important for the #Finance ministry and #CBDT to build clarity (and granularity) in taxation rules. There are two open issues: First, a national-level indexation for assessing capital gain fails to capture regional variations. Second, the market valuation of #GoingConcern is not conducive towards segregating asset value between land and depreciable assets. This has led to much #litigation. There are scientific ways to address both the issues. But, the eco-system must first invest in #DataTransparency. #PriceIndex projects must be adequately encouraged, supported and nurtured. For example, at #IIMA we publish an #Agricultural #LandPrice index (#ISALPI) in collaboration with SFarmsIndia. We need more of such indices to rationalize capital gains #taxation. But, such projects cannot sustain themselves without adequate government or institutional support. https://lnkd.in/dT4EYqxa #MCFME Misra Centre - IIMA

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Let’s see how the gaming sector in light of GST shapes up..

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ICAI Unveils Groundbreaking CA GPT Platform Featuring Annual Reports of 5000 Listed Companies! ICAI through its Committee on AI in ICAI launched CA GPT-Industry Forum comprising of annual reports of 5,000 listed companies for the fiscal year 2023-24. This historic development was officially unveiled during a Global Live Webinar held on 24th November 2024, which was attended by over 10,000 CA from across the globe. This powerful GPT integrates approximately 5,000 listed companies’ annual reports into the ICAI CA GPT platform, enabling Chartered Accountants to access and analyse financial data with unprecedented ease. The reports, covering a wide spectrum of industries, are now seamlessly integrated into over 70 GPTs across various industries, empowering professionals to perform complex financial analysis with a single click. On this occasion, ICAI highlighted the Institute’s ongoing efforts to leverage cutting-edge technologies like AI, Big data, Machine Learning or other emerging technologies that are essential tools for accounting, auditing, taxation, management consultancy and other services that CAs provide. He stated “Our CA GPT Initiative has already begun to make a transformative impact. Launch of CA GPT has received widespread acclaim, providing Chartered Accountants with AI-powered tools for accounting, auditing and taxation. This industry-specific GPT, which includes analysis of annual reports from 5,000 listed companies, will be an invaluable resource, providing members with easy access to insights tailored to their industries and professional needs. Earlier, ICAI launched CA GPT on July 1st, 2024 and made it available free of cost to all Members. At present CA GPT consists of 19 specialized GPTs that includes 16 specialized GPTs (of various ICAI Committees), CA GPT - UAE VAT and UAE Corporate Tax dedicated towards digitizing tax compliance & planning for members to navigate through UAE’s evolving tax landscape, Constitution of India - providing quick access to Constitutional insights for enhanced legal compliance work and the recently launched Industry Forum - annual reports of 5,000 listed companies. As on date, more than 70,000 Members are actively using CA GPT and have generated over 2.5 Lakh Prompts. In July 2024, ICAI launched GPT for CA Students also, providing customized tools for Foundation, Intermediate, and Final levels. It includes past papers, study materials and the ICAI syllabus to support students in their preparation. Over 50,000 students are currently using the GPT, generating more than 2.5 Lakh prompts. Further, to support members and handhold them to learn AI, an exclusive Certificate Course on AI for Members was also launched on July 16, 2024, during the AI Innovation Summit (AIS 2024) in Hyderabad.

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🚀 The Institute of Chartered Accountants of India (ICAI), through its Committee on AI at ICAI, has launched the CA GPT-Industry Forum, which includes the annual reports of 5,000 listed companies for the financial year 2023-24. ✨ This historic development was publicly unveiled during a Global Live Webinar on November 24th, 2024, attended by over 10,000 Chartered Accountants from around the world. 💫 The reports, which cover a wide range of businesses, are now seamlessly integrated into over 70 GPTs (Generative Pre-trained Transformers) that span several industries, allowing experts to execute complex financial analysis with a single click. 📜 In this development, ICAI President CA Ranjeet Kumar Agarwal highlighted the Institute’s ongoing efforts to leverage cutting-edge technologies such as AI, Big Data, Machine Learning, and other emerging technologies that are critical tools for accounting, auditing, taxation, management consulting, and other services provided by CAs. 📰 In July 2024, the ICAI announced GPT for CA Students, which includes customized tools for the Foundation, Intermediate, and Final levels. It provides past papers, study materials, and the ICAI syllabus to assist students with their preparation. almost 50,000 students are now using the GPT, resulting in almost 2.5 lakh prompts. The Institute of Chartered Accountants of India (ICAI) The Institute of Chartered Accountants of India GPT ChatGPT ChatGPT #investment #finance #capital #money #wealth #strategy #growth #construction #india #marketing #nifty #leadership #economy #sensex #icai #chatgpt #gpt #ai #artificialintelligence

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Audit firm first needs to audit itself………………………………….

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Do you know as per Ind AS 110 "Consolidated Financial Statements" If a parent loses control of a subsidiary, the parent: (a) derecognises the assets and liabilities of the former subsidiary from the consolidated balance sheet. (b) recognises any investment retained in the former subsidiary at its fair value when control is lost and subsequently accounts for it and for any amounts owed by or to the former subsidiary in accordance with relevant Ind ASs. That fair value shall be regarded as the fair value on initial recognition of a financial asset in accordance with Ind AS 109 or, when appropriate, the cost on initial recognition of an investment in an associate or joint venture. (c) recognises the gain or loss associated with the loss of control attributable to the former controlling interest. #Gaap #Ind_AS #Consolidations #Reporting #Financial_Reporting

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~Scroller of the Day M&A and Corporate Governance (Day 10) Here I have explained 5 reason of why mergers & acquisition generally fail? Follow me, Ayush Singh for more such finance content. SOURCES : The Institute of Chartered Accountants of India Corporate Finance Institute® (CFI) #Mergers #Acquisitions #Corporate #Finance

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*Have a Look on Scoop of Business News 20th June* 1. *F&O Transactions May Face Higher Taxes* The government plans to deter retail participation in futures and options (F&O) by reclassifying F&O income as "speculative" and/or introducing TDS in the upcoming Budget. This move could lead to higher taxes and stricter tracking of F&O investors. 2. *Record Block Deals on Dalal Street* Indian stock markets hit a record with ₹23,000 crore in block deals, primarily due to Vodafone Group's stake sale in Indus Towers. This surge underscores robust demand from institutional investors. 3. *PNB Housing Finance Shares Drop After Block Deal* PNB Housing Finance shares fell nearly 5% after a block deal where 1.36 crore shares were sold, likely by Asia Opportunities Fund and General Atlantic, at an 8% discount. 4. *Blue Dart Begins Drone Deliveries* Blue Dart Express has launched drone deliveries for the e-commerce sector in partnership with Skye Air, aiming to enhance delivery efficiency and sustainability. 5. *Metro Cities See Fourfold Increase in Consumer Durable Loans* Consumer durable loans in metro cities have surged over 300% in five years, driven by high demand. The RBI is monitoring this growth to ensure financial stability. 6. *Zurich Acquires Majority Stake in Kotak General Insurance* Zurich Insurance has completed the acquisition of a 70% stake in Kotak Mahindra General Insurance for Rs 5,560 crore, marking the largest foreign investment in India’s general insurance sector since 2021. Blue Dart PNB Housing Finance Limited Bharti Airtel Services Indus Towers Limited Vizzavi España (Vodafone Group Plc) Vodafone #Business #News

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Since the concept of the windfall tax was introduced around 1970, it has remained a topic of debate. Proponents argue that it is an efficient way of redistributing abnormal profits since, in theory, it does not reduce investment. However, a study of the US excess profits tax on domestic oil production in the 1980s shows that production from affected oil wells significantly decreased. My concern is that if a potential revenue source is available to the government from a windfall caused by the depreciation of the Naira, would the government still be willing to make its best efforts to strengthen the Naira? While we reflect on this, read the PwC alert on the Windfall Tax Conundrum. #pwcalert #windfalltax

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It is crucial for organizations to address and rectify workplace cultures. This involves promoting open communication, fostering transparency, implementing fair policies and practices, providing support for employees, promoting a healthy work-life balance, and holding individuals accountable for their behaviors. Because a work organization can have many employees, but a family can only have 1-2 kids.

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The memorandum to Finance Bill (No.2) 2024 states that Indexation is removed for Simplication of Capital Gains Calculations. Here are my view points on this proposal: 1. Firstly of all, these days capital gains are not humanly computed but it is computed by Softwares. 2. Secondly, if Government has a strong opinion that it will simply the calculations as against the Investors (mainly Immovable Property) then they should give 2 options to assessee for LTCG as follows: a. Option 1 - Tax at 12.5% without Indexing b. Option 2 - Tax at 20% with Indexing All those who find indexation a tedious task they will go for Option 1 and rest can peacefully go for Option 2. We are already used to choosing such options for the last couple of years for New Regime vs Old Regime. 3. Simplification is not required for Indexation but it is required for determining certain other aspects , inter alia, Stamp Duty Value in respect of Immovable Property which continue to remain as it is. 4. Last Year Government reduced surcharge (Old Regime) on LTCG & STCG u/s 111A from 37% to 15% rationale being to encourage investors. And in the current Budget they increased the base rate of Capital Gains by 25%. What is the Logic ? 5. There are many more points but the post will be too long for it. Apart from this the Government has taken some good move also but the bad ones over shadow the good ones this year. I would be obliged if you share your views on the aforementioned points.

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India's Budget 2024: A blueprint for sustainable growth and economic resilience. Key highlights and insights into the fiscal roadmap ahead.

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Election-led volatility, rising US bond yields trigger FII outflows Volatility – a good measure of risk in the market – has risen significantly over the past month for India. But this is not the first time an election has driven the Nifty VIX up. The volatility index shot up during the 2014 election (a change election), to 38 points. In 2019, when the BJP won reelection, it rose to 29 points. Comparatively, the current rise of the Nifty VIX is on the lower side. But foreign investors hate uncertainty, and net outflows are likely to persist until the results are announced. If a single party wins, FIIs might return quickly to India.

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