HENCY R SHAH AND ASSOCIATES

 📢 BIG ITR UPDATE for A.Y. 2025–26! 🚨 New Annexures Introduced for Deduction Claims in ITR-1 & ITR-4 As the Income Tax Department releases updated ITR forms for A.Y. 2025–26, taxpayers under the Old Regime must prepare for major compliance changes . The focus? Transparency, traceability, and accuracy in deduction claims. Here’s what’s new and what you need to do! 👇 📝 What’s New? The updated ITR-1 and ITR-4 forms introduce  detailed annexures to support deduction claims. From house rent and insurance to education loans and EV financing, taxpayers now need to furnish precise documentation and source-level information . 🏠 1. HRA – Section 10(13A) ➤ Place of Work ➤ HRA Received ➤ Rent Paid ➤ Basic Salary + DA ➤ 50%/40% Rule for Metro/Non-Metro 📌 Why? To avoid inflated claims & ensure accurate exemption calculation. 💰 2. Section 80C – Tax-Saving Investments ➤ Document/Receipt ID ➤ PPF Account Number ➤ LIC Policy Number 🗂️ More transparency on i...

  📉 Vodafone Idea: At the Crossroads of Collapse or Bailout? 📡 India’s telecom sector is once again at a tipping point—and at the center of it all is Vodafone Idea (Vi) , a company drowning in debt and clinging to survival through state-backed lifelines. 🚨 No Judicial Relief: Supreme Court Shuts the Door On May 19 , the Supreme Court dismissed Vi’s plea to waive ₹45,457 crore in AGR-related interest and penalties. With this, judicial relief is off the table —leaving only two options: 🔹 The government increases its stake to 75% , or 🔹 Vi is sent to the NCLT for insolvency . 🧨 A Debt Trap with No Exit Vi’s financials are grim: 💸 Total Debt: ₹2.3 lakh crore 📉 AGR Dues: ₹83,400 crore 📉 Q3 FY25 Net Loss: ₹6,609.3 crore 📊 Stock Crash: Over 50% drop in the past year With AGR payments of ₹18,000 crore/year starting FY26 —almost double its operating cash flow—Vi faces an insurmountable burden . Banks are refusing fresh loans, and analysts predict negative cash fl...

  💸  5% US Tax on Foreign Remittances? What NRIs Need to Know  🇺🇸➡️🇮🇳 A new development in the U.S. fiscal landscape is raising eyebrows among  non-U.S. citizens  and especially  NRIs (Non-Resident Indians) . Under a proposed plan, the  U.S. may introduce a 5% tax on outbound remittances made by non-citizens . 📌  What does this mean? If you're an NRI sending ₹1,00,000 back home to India,  ₹5,000 could now go to the IRS  (U.S. Internal Revenue Service) under this proposal. 🧾  Why This Tax? The U.S. government has framed this tax as a measure to: 🔹 Raise revenue from non-citizen residents 🔹 Target undocumented transactions or funds leaving the U.S. 🔹 Strengthen oversight over international money transfers However, critics argue this could: ⚠️ Hurt immigrant communities ⚠️ Strain cross-border family support ⚠️ Create new compliance burdens 🌍  Who Does It Affect? This potential tax would primarily impact: ✅ NRIs residing...

🛡️ Safeguarding India: How Public Money, Defence Vision & Leadership Protect Our Borders 🇮🇳 Living near the India-Pakistan border in Kutch, I’ve seen what it means when tensions rise. Markets closed, blackouts imposed, & deep down, a quiet fear. But even in the shadow of a possible war, we slept peacefully—not because there was no threat, but because there was trust in our armed forces, our air defence systems, and Modiji’s decisive leadership. 🔥 India-Pakistan Conflict: Reminder of Reality War is not a TV debate—it’s sirens, sleepless nights, and uncertainty. 📍 As neighbours with nuclear capabilities, tensions between India & Pakistan demand serious attention. 🧨 A full-scale war could mean destruction beyond borders—radiation, famine, economic collapse. But this time, when things escalated… India stood strong. 💰 How Public Money Secured Peace Every taxpayer wonders where their money goes—here’s how it helped: 🔸 S-400 Air Defence System & indigenous mis...

🔥 𝑩𝒐𝒓𝒅𝒆𝒓𝒔 𝑻𝒆𝒏𝒔𝒆, 𝑴𝒂𝒓𝒌𝒆𝒕𝒔 𝑾𝒂𝒕𝒄𝒉𝒇𝒖𝒍: 𝑰𝒏𝒅𝒊𝒂-𝑷𝒂𝒌𝒊𝒔𝒕𝒂𝒏 𝑬𝒔𝒄𝒂𝒍𝒂𝒕𝒊𝒐𝒏 𝒂𝒏𝒅 𝑰𝒕𝒔 𝑬𝒄𝒐𝒏𝒐𝒎𝒊𝒄 𝑹𝒊𝒑𝒑𝒍𝒆𝒔 💥🌐  In the wake of the tragic Pahalgam terror attack, geopolitical friction between India 🇮🇳 and Pakistan 🇵🇰 has entered a critical phase. With the suspension of the Chelam water sharing and closure of airspace, tensions have moved beyond diplomacy and entered real-world, economic dimensions. 🛑 𝐀𝐢𝐫𝐬𝐩𝐚𝐜𝐞 𝐂𝐥𝐨𝐬𝐮𝐫𝐞 India’s decision to restrict airspace access has immediate ramifications: ✈️ Civil aviation is already being rerouted, increasing fuel costs and flight times. 📉 Aviation and logistics stocks may see volatility. 🌍 Global supply chains, especially for perishable and critical goods, could face delays. 💧 𝐒𝐭𝐨𝐩𝐩𝐢𝐧𝐠 𝐂𝐡𝐞𝐥𝐚𝐦 𝐖𝐚𝐭𝐞𝐫 India halting the flow of Chelam waters under the Indus Waters Treaty can strain agriculture in downstream areas of Pakistan: 🚜 Impact on croppi...