HENCY R SHAH AND ASSOCIATES

11 things to do before the new financial year 2023-2024   As the new financial year approaches, you may have already started planning your investments to achieve your financial goals. But before we dive into the new financial year 2023-24, it is necessary to complete certain tasks before 31 st  March 2023 to ensure maximum savings and a good start to the new fiscal year. Taking care of these important things will enable you to save on taxes and prevent yourself from paying certain penalties. So, let’s take a look at the things you need to do before 31 st  March 2023. 1.     Link your PAN with Aadhar The first thing that you need to do is link your PAN with your Aadhar. The last day to do so is 31st March 2023. However, you must do this after paying a penalty of ₹1000. If you do not link your PAN with Aadhar, your PAN will become inoperative from 1st April 2023. You will not be able to do certain things if your PAN becomes inoperative. For example, you cannot file your income

  US Banks Collapse: Could the US bank crisis be blessing in disguise for Nifty bulls, OR are we heading back to 2008? A week after Silicon Valley Bank and Signature Bank failed, First Republic Bank is considering a sale following a dramatic 60 percent drop in its stock price over the past week. The bank also received $70 billion in emergency loans from JP Morgan Chase and the Federal Reserve. Eleven of the biggest U.S. banks Thursday announced a $30 billion rescue package for First Republic Bank in an effort to prevent it from becoming the third to fail in less than a week and head off a broader banking crisis. The rescue package brought back memories of the 2008 financial crisis, when banks collectively came to the aid of weaker banks in the early days of the crisis. Banks then bought each other in hurried deals in order to keep the crisis from spreading further. With FIIs pulling out more dollars from India after back-to-back collapse of three US banks, including Signature and Sil

Crypto under PMLA: New rules of the game The central government has tightened regulatory control over virtual digital assets, more commonly known as cryptocurrencies. According to a gazette notification, the government has mandated that a host of trading activities in such assets will now come under the ambit of the Prevention of Money Laundering Act (PMLA). In other words, going ahead, trading between cryptocurrencies and fiat currencies or among cryptocurrencies and other such services can be investigated by agencies such as the Enforcement Directorate (ED) and the Income Tax department. The move should be seen in light of the government’s efforts to bring cryptocurrencies under greater regulation. In April 2022, for instance, the government introduced a 30% income tax on gains made from cryptocurrencies. Later in July 2022, the government brought in rules regarding 1% tax deducted at source on cryptocurrency. Broadly speaking, greater regulation of cryptocurrencies is advisable.

Does India Need Green Revolution 2.0? India needs a second green revolution along with the next generation of reforms to make agriculture more climate-resistant and environmentally sustainable. Observing that Indian agriculture has exhibited remarkable resilience during the COVID-19 period, new emerging challenges warrant a second green revolution along with next-generation reforms. Despite the success in terms of production that has ensured food security in the country, food inflation and its volatility remain a challenge, which requires supply-side interventions such as higher public investment, storage infrastructure and promotion of food processing. Indian agriculture scaled new heights with record production of various foodgrains, and commercial and horticultural crops, exhibiting resilience and ensuring food security during the COVID-19 period. The sector, however, confronted various challenges, mitigation of which requires a holistic policy approach. For instance,