HENCY R SHAH AND ASSOCIATES

  📊 𝑺𝒖𝒈𝒈𝒆𝒔𝒕𝒊𝒐𝒏𝒔 𝑴𝒂𝒅𝒆 𝒃𝒚 𝑰𝑪𝑨𝑰 𝒊𝒏 𝒕𝒉𝒆 𝑷𝒓𝒆-𝑩𝒖𝒅𝒈𝒆𝒕 𝑴𝒆𝒎𝒐𝒓𝒂𝒏𝒅𝒖𝒎 – 2025 As we approach the new fiscal year, the  Institute of Chartered Accountants of India (ICAI)  has proposed several significant recommendations in their Pre-Budget Memorandum for 2025. Here are some key suggestions: 💡 𝑲𝒆𝒚 𝑫𝒊𝒓𝒆𝒄𝒕 𝑻𝒂𝒙 & 𝑰𝒏𝒕𝒆𝒓𝒏𝒂𝒕𝒊𝒐𝒏𝒂𝒍 𝑻𝒂𝒙𝒂𝒕𝒊𝒐𝒏 𝑺𝒖𝒈𝒈𝒆𝒔𝒕𝒊𝒐𝒏𝒔: 🔹 𝐈𝐧𝐜𝐨𝐦𝐞 𝐟𝐫𝐨𝐦 𝐒𝐡𝐚𝐫𝐞𝐬 & 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬:  Propose a new income head, “B - Income from shares and securities,” covering dividends, interest, and capital gains. 🔹 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝 𝐃𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧:  Advocate for regular enhancement of the standard deduction, based on the cost inflation index. 🔹 𝐀𝐦𝐞𝐧𝐝𝐦𝐞𝐧𝐭 𝐨𝐟 𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟒𝟒𝐀𝐃𝐀:  Suggest deeming 33.33% of gross receipts from professions as “Profits and Gains of Business and Profession.” 🔹 𝐏𝐚𝐫𝐭𝐧𝐞𝐫 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐢?...

 💥 Big Update on Tax Rebate u/s 87A! 🤔 Confused about the recent changes in the Income Tax Utility regarding Section 87A? Here’s what you need to know: 🧐 What’s the Update? The Income Tax Department updated the Excel Utility for ITR Forms 2 and 3, introducing an option to manually edit the rebate u/s 87A for AY 2024-25. Despite this change, it doesn’t imply that the rebate has been officially allowed for special income categories. 🔍 Key Observations: Earlier Utility: The rebate amount was non-editable. Updated Utility: Taxpayers can now manually adjust the rebate amount, but only to the extent of tax. JSON Schema: It still permits claiming the rebate even after July 5th, though such ITRs are processed with a demand notice, including tax on special income and interest for delayed payment. ⚠️ What Does This Mean? Taxpayers need to be cautious while manually editing the rebate. These updates may lead to discrepancies if not handled carefully. 💬 Do you think th...

🚀 10 Game-Changing Financial Reforms of 2024! 🌟 2024 has been a landmark year for India's financial landscape under PM Narendra Modi's leadership. With bold reforms across taxation, employment, energy, and governance, these policies aim to drive innovation, boost the economy, and ensure social progress. Let’s explore 10 major initiatives that shaped this transformative year! 🌐 1. One Nation, One Election Simplifying governance by proposing simultaneous elections for Lok Sabha and state assemblies to save costs and reduce disruptions. 💳 2. RBI Microfinance Lending Reforms Unified guidelines for microfinance, capping repayments at 50% of household income, and removing interest rate ceilings. 🏦 3. Unified Pension Scheme A fixed pension guarantee with enhanced government contributions for post-2004 employees. 🚀 4. Scrapping Angel Tax Encouraging startup growth by removing the angel tax, fostering innovation, and easing fundraising. 🌱 5. BioE3 Policy Promoting green growth an...

  📈 𝑺𝒕𝒐𝒄𝒌 𝑺𝒑𝒍𝒊𝒕 𝒗𝒔 𝑩𝒐𝒏𝒖𝒔 𝑰𝒔𝒔𝒖𝒆: 𝑾𝒉𝒂𝒕’𝒔 𝒕𝒉𝒆 𝑫𝒊𝒇𝒇𝒆𝒓𝒆𝒏𝒄𝒆? 🤔 𝙲𝚘𝚗𝚏𝚞𝚜𝚎𝚍 𝚋𝚎𝚝𝚠𝚎𝚎𝚗 𝚜𝚝𝚘𝚌𝚔 𝚜𝚙𝚕𝚒𝚝𝚜 𝚊𝚗𝚍 𝚋𝚘𝚗𝚞𝚜 𝚒𝚜𝚜𝚞𝚎𝚜? Here’s a quick breakdown with examples from the Indian stock market! 💡 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐚 𝐒𝐭𝐨𝐜𝐤 𝐒𝐩𝐥𝐢𝐭? A stock split divides a company’s existing shares into smaller units, making shares more affordable and increasing liquidity. The total investment value remains unchanged. 📊 𝐸𝑥𝑎𝑚𝑝𝑙𝑒: Stock Split Ratio:  2:1 (Two shares for every one held) Before Split:  ₹100/share, 100 shares After Split:  ₹50/share, 200 shares 🛠️ 𝑅𝑒𝑎𝑙-𝐿𝑖𝑓𝑒 𝐸𝑥𝑎𝑚𝑝𝑙𝑒: 𝐇𝐢𝐧𝐝𝐮𝐬𝐭𝐚𝐧 𝐀𝐞𝐫𝐨𝐧𝐚𝐮𝐭𝐢𝐜𝐬 𝐋𝐭𝐝. (𝐇𝐀𝐋) Pre-Split Price:  ₹3683-₹3900 Post-Split Price:  ₹1949 (as of October 2023) Despite consolidation, the stock gave a return of approximately  36%  in 2023! 💡 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐚 𝐁𝐨𝐧𝐮𝐬 𝐈𝐬𝐬𝐮𝐞?  A bonus issue rewards shareholders with ...