HENCY R SHAH AND ASSOCIATES

  𝐈𝐬 𝐑𝐞𝐧𝐚𝐦𝐢𝐧𝐠 𝐚 𝐂𝐢𝐭𝐲 𝐖𝐨𝐫𝐭𝐡 𝐭𝐡𝐞 𝐂𝐨𝐬𝐭? 🏙️💰 𝐏𝐨𝐫𝐭 𝐁𝐥𝐚𝐢𝐫 𝐭𝐨 𝐒𝐫𝐢 𝐕𝐢𝐣𝐚𝐲𝐚 𝐏𝐮𝐫𝐚𝐦 Port Blair is gearing up for a significant change with its proposed renaming to Sri Vijaya Puram. This move sparks debate about whether the benefits outweigh the costs. Let’s dive into the financial and practical implications of such a transformation. 🔍 𝐂𝐨𝐬𝐭 𝐁𝐫𝐞𝐚𝐤𝐝𝐨𝐰𝐧 𝑨𝒅𝒎𝒊𝒏𝒊𝒔𝒕𝒓𝒂𝒕𝒊𝒗𝒆 𝑪𝒐𝒔𝒕𝒔: Updating records and documents is a major expense. For instance, the renaming of Mumbai from Bombay cost around ₹500 crore ($60 million) in 1995, covering changes to signage and official papers. 𝑰𝒏𝒇𝒓𝒂𝒔𝒕𝒓𝒖𝒄𝒕𝒖𝒓𝒆 𝑼𝒑𝒅𝒂𝒕𝒆𝒔: Replacing street signs, maps, and transport systems adds to the cost. Bengaluru’s renaming from Bangalore saw expenses of approximately ₹100 crore ($12 million). 𝑷𝒖𝒃𝒍𝒊𝒄 𝑨𝒘𝒂𝒓𝒆𝒏𝒆𝒔𝒔 𝑪𝒂𝒎𝒑𝒂𝒊𝒈𝒏𝒔: Informing the public about the new name through media can be pricey. Chennai’s renaming involved

🔐 𝐓𝐫𝐨𝐮𝐛𝐥𝐞𝐝 𝐛𝐲 𝐎𝐓𝐏 𝐇𝐚𝐬𝐬𝐥𝐞𝐬? 𝐌𝐚𝐬𝐭𝐞𝐫𝐜𝐚𝐫𝐝 𝐇𝐚𝐬 𝐭𝐡𝐞 𝐀𝐧𝐬𝐰𝐞𝐫! We’ve all been there waiting for that one-time password (OTP) to verify a transaction, only to deal with the stress of delays, failed attempts, or even worse, falling prey to scams. But there’s good news on the horizon! 🌟 Mastercard has chosen India as the launchpad for its groundbreaking Payment Passkey Service a solution that’s set to revolutionize how we shop online. Announced at the Global Fintech Fest in Mumbai, this service is designed to make online transactions more secure and a lot easier, especially for those tired of juggling OTPs. 🇮🇳 𝐒𝐨, 𝐰𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐛𝐮𝐳𝐳 𝐚𝐛𝐨𝐮𝐭? Instead of relying on OTPs, Mastercard’s Payment Passkey uses biometric authentication think fingerprints and facial recognition to speed up and secure your online payments. No more worrying about phishing, SIM swapping, or message interception, which have sadly become too common. Here's how it wo

 📢 𝗛𝗗𝗙𝗖 𝗕𝗮𝗻𝗸'𝘀 𝗕𝗼𝗹𝗱 𝗠𝗼𝘃𝗲 𝘄𝗶𝘁𝗵 𝗥𝗮𝗿𝗲 𝗗𝗲𝗯𝘁 𝗧𝗼𝗼𝗹! 🚗💼 HDFC Bank, India’s largest private lender, is making headlines with its plan to sell up to ₹10,000 crore ($1.2 billion) in loans using a rarely seen debt instrument. This strategic move aims to manage the bank's exposure to certain sectors while tackling the challenge of raising deposits. Here’s a quick breakdown of what’s happening: 🏦 𝗪𝗵𝗮𝘁’𝘀 𝘁𝗵𝗲 𝗣𝗹𝗮𝗻? HDFC Bank is gearing up to issue Pass-Through Certificates (PTCs), backed by a pool of the bank's car loans. This approach, which hasn't been used by the bank in over a decade, is designed to spread risk and diversify income streams. 🤝 𝗪𝗵𝗼’𝘀 𝗜𝗻𝘃𝗼𝗹𝘃𝗲𝗱? The bank is in discussions with several local asset managers, including ICICI Prudential AMC, Nippon Life India Asset Management, SBI Funds Management, and Kotak Mahindra Asset Management, to subscribe to these securities. 🔍 𝗪𝗵𝘆 𝗡𝗼𝘄? With a Credit-Deposit (CD

 💼 𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗥𝗲𝗳𝘂𝗻𝗱𝘀: 𝗕𝗲𝘄𝗮𝗿𝗲 𝗼𝗳 𝗖𝘆𝗯𝗲𝗿𝗰𝗿𝗶𝗺𝗲 𝗮𝗻𝗱 𝗔𝗜-𝗗𝗿𝗶𝘃𝗲𝗻 𝗦𝗰𝗮𝗺𝘀! 🤖 As a CA, I've witnessed the increasing sophistication of cybercrime, especially in the realm of income tax refunds. With digital transactions becoming the norm, fraudsters are using advanced tactics, including AI, to scam unsuspecting individuals. Digital transactions have become playground for cyber fraudsters. With AI enhancing their schemes, it's crucial to stay informed & vigilant. 🚨 🕵️‍♂️ 𝗛𝗼𝘄 𝗖𝘆𝗯𝗲𝗿 𝗙𝗿𝗮𝘂𝗱𝘀𝘁𝗲𝗿𝘀 𝗢𝗽𝗲𝗿𝗮𝘁𝗲 𝙋𝙝𝙞𝙨𝙝𝙞𝙣𝙜 𝙀𝙢𝙖𝙞𝙡𝙨: Scammers send fake emails that appear to be from the Income Tax Department, creating a sense of urgency to trick you into clicking malicious links. 𝙎𝙥𝙤𝙤𝙛𝙚𝙙 𝙒𝙚𝙗𝙨𝙞𝙩𝙚𝙨 & 𝘼𝙥𝙥𝙨: Fake sites mimic official ones, stealing your sensitive information when you enter details. 𝙈𝙖𝙡𝙞𝙘𝙞𝙤𝙪𝙨 𝙋𝙤𝙥-𝙐𝙥𝙨: Beware of pop-ups that seem to be warnings from tax authorities

  📊 𝙄𝙣𝙨𝙞𝙜𝙝𝙩𝙨 𝙛𝙧𝙤𝙢 𝙈𝙮 𝙍𝙚𝙘𝙚𝙣𝙩 𝙄𝙏𝙍 𝙁𝙞𝙡𝙞𝙣𝙜: 𝙆𝙚𝙮 𝙏𝙧𝙚𝙣𝙙𝙨 𝙞𝙣 𝙀𝙦𝙪𝙞𝙩𝙮 𝙁&𝙊 𝙏𝙧𝙖𝙙𝙞𝙣𝙜, 𝘽𝙡𝙚𝙚𝙙𝙞𝙣𝙜 𝙧𝙚𝙙!📉 As a CA, one of the most intriguing aspects of my work during this ITR filing season has been observing a significant trend among F&O traders. Nearly every client involved in this segment had one thing in common: 𝙇͟𝙤͟𝙨͟𝙨͟𝙚͟𝙨͟. 📉 Here’s a deeper look into the findings: 🔍 𝗦𝘂𝗿𝗴𝗲 𝗶𝗻 𝗧𝗿𝗮𝗱𝗲𝗿 𝗡𝘂𝗺𝗯𝗲𝗿𝘀: The number of unique individual traders in the equity F&O segment surged from 7.1 lakhs in FY19 to a remarkable 45.2 lakhs in FY22. Active traders make up 88% of this group, with those aged 30-40 leading in participation (39%). 📉 𝗣𝗿𝗲𝗱𝗼𝗺𝗶𝗻𝗮𝗻𝗰𝗲 𝗼𝗳 𝗟𝗼𝘀𝘀𝗲𝘀: Despite the rise in participants, 89% of these traders faced losses, with an average loss of ₹1.1 lakh. Even among active traders, 90% incurred losses averaging ₹1.25 lakh. Remarkably, the losses for these traders were about 15 time