M. Buha & Co.

𝗙𝗔𝗤𝘀 𝗼𝗻 𝗣𝗔𝗡 𝟮.𝟬 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝟭. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝗣𝗔𝗡 𝟮.𝟬 𝗽𝗿𝗼𝗷𝗲𝗰𝘁? The PAN 2.0 project is an initiative by the Indian government to enhance the efficiency, security, and functionality of the Permanent Account Number (PAN) system. 𝟮. 𝗪𝗵𝘆 𝗵𝗮𝘀 𝘁𝗵𝗲 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗹𝗮𝘂𝗻𝗰𝗵𝗲𝗱 𝘁𝗵𝗲 𝗣𝗔𝗡 𝟮.𝟬 𝗽𝗿𝗼𝗷𝗲𝗰𝘁? The government aims to modernize the PAN ecosystem to address increasing data demands, reduce fraudulent activities, and ensure seamless integration with other government systems. 𝟯. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝘂𝘀𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗤𝗥 𝗰𝗼𝗱𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗻𝗲𝘄 𝗣𝗔𝗡 𝗰𝗮𝗿𝗱𝘀? The QR code on the PAN card will store encrypted details of the cardholder, including their name, date of birth, and PAN number. It can be scanned for quick and secure verification of identity, ensuring authenticity and reducing fraudulent use of PAN. 𝟰. 𝗪𝗶𝗹𝗹 𝗧𝗔𝗡 𝗯𝗲 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗲𝗱 𝘄𝗶𝘁𝗵 𝗣𝗔𝗡 𝘂𝗻𝗱𝗲𝗿 𝘁𝗵𝗶𝘀 𝗽𝗿𝗼𝗷𝗲𝗰𝘁? Yes, there are plans to integrate TAN with PAN to simplify compliance for businesses. If implemented, TAN may become part of the PAN system, but it is unclear if obtaining a separate TAN will become unnecessary. 𝟱. 𝗪𝗵𝗲𝗻 𝘄𝗶𝗹𝗹 𝘁𝗵𝗲 𝗶𝘀𝘀𝘂𝗮𝗻𝗰𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗻𝗲𝘄 𝗣𝗔𝗡 𝗰𝗮𝗿𝗱𝘀 𝘂𝗻𝗱𝗲𝗿 𝗣𝗔𝗡 𝟮.𝟬 𝗰𝗼𝗺𝗺𝗲𝗻𝗰𝗲? The exact date for the commencement of issuing new PAN cards under the PAN 2.0 project has not been officially announced yet. 𝟲. 𝗪𝗵𝗮𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗰𝗮𝗻 𝘁𝗮𝘅𝗽𝗮𝘆𝗲𝗿𝘀 𝗲𝘅𝗽𝗲𝗰𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗣𝗔𝗡 𝗶𝘀𝘀𝘂𝗮𝗻𝗰𝗲 𝗽𝗿𝗼𝗰𝗲𝘀𝘀? The PAN issuance process is expected to become more seamless, faster, and digitally secure. It will integrate enhanced features like QR codes and real-time verification mechanisms to ensure accuracy and prevent misuse. 𝟳. 𝗛𝗼𝘄 𝗱𝗼𝗲𝘀 𝘁𝗵𝗲 𝗣𝗔𝗡 𝟮.𝟬 𝗽𝗿𝗼𝗷𝗲𝗰𝘁 𝗮𝗹𝗶𝗴𝗻 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁’𝘀 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗶𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀? PAN 2.0 is part of the government’s broader vision to enhance e-governance and digital infrastructure. It aligns with initiatives like Digital India, focusing on secure, paperless, and user-centric services. 𝟴. 𝗪𝗶𝗹𝗹 𝗲𝘅𝗶𝘀𝘁𝗶𝗻𝗴 𝗣𝗔𝗡 𝗰𝗮𝗿𝗱𝗵𝗼𝗹𝗱𝗲𝗿𝘀 𝗻𝗲𝗲𝗱 𝘁𝗼 𝘂𝗽𝗱𝗮𝘁𝗲 𝘁𝗵𝗲𝗶𝗿 𝗣𝗔𝗡 𝗰𝗮𝗿𝗱𝘀? While the government has not mandated updates for existing PAN holders, they may introduce voluntary options for reissuance to align with new features like QR codes. 𝟵. 𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗲𝘅𝗽𝗲𝗰𝘁𝗲𝗱 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗻𝗴 𝗣𝗔𝗡 𝘄𝗶𝘁𝗵 𝗼𝘁𝗵𝗲𝗿 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗶𝗱𝗲𝗻𝘁𝗶𝘁𝘆 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀? Integration will enable seamless verification across platforms, reduce redundancy in documentation, and enhance the user experience for tax compliance, banking, and other financial services. #PAN #PAN2Point0 #DigitalIndia #GovTech #TaxReforms #IndianEconomy #FinTech #PANCardUpgrade #SecureIndia #IncomeTax #DigitalTransformation #SmartIndia #Taxation #ModernPAN #TechForIndia #FutureReady

𝗡𝗲𝘄 𝗔𝘂𝗱𝗶𝘁𝗶𝗻𝗴 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀 𝗳𝗼𝗿 𝗟𝗟𝗣𝘀 The National Financial Reporting Authority (NFRA) has finalized 𝟰𝟬 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀 𝗼𝗻 𝗔𝘂𝗱𝗶𝘁𝗶𝗻𝗴 (𝗦𝗔𝘀) and Standards on Quality Management (SQMs) for LLP audits, recommending their application with necessary adjustments to suit LLPs. The NFRA has recommended that the auditing standards which were finalised for auditing companies be applied to LLPs on a mutatis mutandis basis. This means that while the standards would largely remain the same, certain adjustments may be made to fit the specific context of LLP audits. The proposed standards are expected to come into effect on 1 April 2026, pending approval from the Central Government. #AuditingStandards #NFRA #LLPCompliance #CorporateTransparency #AuditQuality #MCAUpdates #BusinessRegulations #CA #CharteredAccountants

𝗦𝗖: 𝗡𝗼𝘁 𝗔𝗹𝗹 𝗘𝗮𝗿𝘁𝗵-𝗔𝘁𝘁𝗮𝗰𝗵𝗲𝗱 𝗜𝘁𝗲𝗺𝘀 𝗔𝗿𝗲 '𝗜𝗺𝗺𝗼𝘃𝗮𝗯𝗹𝗲 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀' The two-Judge Bench comprising Justice B.V. Nagarathna and Justice N. Kotiswar Singh held, “… 𝑤𝑒 𝑎𝑟𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑜𝑝𝑖𝑛𝑖𝑜𝑛 𝑡ℎ𝑎𝑡 𝑚𝑒𝑟𝑒𝑙𝑦 𝑏𝑒𝑐𝑎𝑢𝑠𝑒 𝑐𝑒𝑟𝑡𝑎𝑖𝑛 𝑎𝑟𝑡𝑖𝑐𝑙𝑒𝑠 𝑎𝑟𝑒 𝑎𝑡𝑡𝑎𝑐ℎ𝑒𝑑 𝑡𝑜 𝑡ℎ𝑒 𝑒𝑎𝑟𝑡ℎ, 𝑖𝑡 𝑑𝑜𝑒𝑠 𝑛𝑜𝑡 𝑖𝑝𝑠𝑜 𝑓𝑎𝑐𝑡𝑜 𝑟𝑒𝑛𝑑𝑒𝑟 𝑡ℎ𝑒𝑠𝑒 𝑖𝑚𝑚𝑜𝑣𝑎𝑏𝑙𝑒 𝑝𝑟𝑜𝑝𝑒𝑟𝑡𝑖𝑒𝑠. 𝐼𝑓 𝑠𝑢𝑐ℎ 𝑎𝑡𝑡𝑎𝑐ℎ𝑚𝑒𝑛𝑡 𝑡𝑜 𝑒𝑎𝑟𝑡ℎ 𝑖𝑠 𝑛𝑜𝑡 𝑖𝑛𝑡𝑒𝑛𝑑𝑒𝑑 𝑡𝑜 𝑏𝑒 𝑝𝑒𝑟𝑚𝑎𝑛𝑒𝑛𝑡 𝑏𝑢𝑡 𝑓𝑜𝑟 𝑝𝑟𝑜𝑣𝑖𝑑𝑖𝑛𝑔 𝑠𝑢𝑝𝑝𝑜𝑟𝑡 𝑡𝑜 𝑡ℎ𝑒 𝑔𝑜𝑜𝑑𝑠 𝑐𝑜𝑛𝑐𝑒𝑟𝑛𝑒𝑑 𝑎𝑛𝑑 𝑚𝑎𝑘𝑒 𝑡ℎ𝑒𝑖𝑟 𝑓𝑢𝑛𝑐𝑡𝑖𝑜𝑛𝑖𝑛𝑔 𝑚𝑜𝑟𝑒 𝑒𝑓𝑓𝑒𝑐𝑡𝑖𝑣𝑒, 𝑎𝑛𝑑 𝑖𝑓 𝑠𝑢𝑐ℎ 𝑖𝑡𝑒𝑚𝑠 𝑐𝑎𝑛 𝑠𝑡𝑖𝑙𝑙 𝑏𝑒 𝑑𝑖𝑠𝑚𝑎𝑛𝑡𝑙𝑒𝑑 𝑤𝑖𝑡ℎ𝑜𝑢𝑡 𝑎𝑛𝑦 𝑑𝑎𝑚𝑎𝑔𝑒 𝑜𝑟 𝑤𝑖𝑡ℎ𝑜𝑢𝑡 𝑏𝑟𝑖𝑛𝑔𝑖𝑛𝑔 𝑎𝑛𝑦 𝑐ℎ𝑎𝑛𝑔𝑒 𝑖𝑛 𝑡ℎ𝑒 𝑛𝑎𝑡𝑢𝑟𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑔𝑜𝑜𝑑𝑠 𝑎𝑛𝑑 𝑐𝑎𝑛 𝑏𝑒 𝑚𝑜𝑣𝑒𝑑 𝑡𝑜 𝑚𝑎𝑟𝑘𝑒𝑡 𝑎𝑛𝑑 𝑠𝑜𝑙𝑑, 𝑠𝑢𝑐ℎ 𝑔𝑜𝑜𝑑𝑠 𝑐𝑎𝑛𝑛𝑜𝑡 𝑏𝑒 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟𝑒𝑑 𝑖𝑚𝑚𝑜𝑣𝑎𝑏𝑙𝑒.” #SupremeCourt #SupremeCourtRuling #ImmovableProperties #Airtel #Lawyers #Advocates

𝗕𝗶𝗴 𝗨𝗽𝗱𝗮𝘁𝗲 𝗳𝗼𝗿 𝗜𝗣𝗢 𝗔𝘀𝗽𝗶𝗿𝗮𝗻𝘁𝘀! SEBI has scrapped the 1% mandatory security deposit rule for IPOs. This amendment to the SEBI (ICDR) Regulations, 2018, effective from May 17, 2024, simplifies the IPO process by removing the requirement for a No Objection Certificate (NOC) for refunding the deposit. #SEBI #IPO #UpcomingIPO #CapitalMarkets #StartupEcosystem #EaseOfDoingBusiness #FinancialGrowth #BusinessSimplification #InnovationInRegulations

𝗦𝘂𝗽𝗿𝗲𝗺𝗲 𝗖𝗼𝘂𝗿𝘁 𝗥𝘂𝗹𝗶𝗻𝗴: 𝗕𝗮𝗹𝗮𝗻𝗰𝗲 𝗦𝗵𝗲𝗲𝘁 𝗗𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲 𝗔𝗺𝗼𝘂𝗻𝘁𝘀 𝘁𝗼 𝗔𝗰𝗸𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲𝗺𝗲𝗻𝘁 𝗼𝗳 𝗗𝗲𝗯𝘁! A landmark judgment by the Supreme Court of India has upheld NCLAT's order, stating that acknowledgment of debt in a company's balance sheet is sufficient to initiate IBC proceedings under Section 7. 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 1. Balance sheet entries acknowledging debt defaults constitute recognition of liability. 2. Auditor's observations can also imply acknowledgment of debt. 3. No direct or specific acknowledgment required. 𝗖𝗮𝘀𝗲 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 : - The Corporate Debtor resisted the proceedings initiated under Section 7 of the IBC on the grounds that there was no acknowledgement of the debt in the financial statements as well as auditor’s report of the Corporate Debtor. - Supreme Court ruled that the balance sheet entry mentioning “𝑐𝑜𝑚𝑝𝑎𝑛𝑦 ℎ𝑎𝑠 𝑚𝑎𝑑𝑒 𝑐𝑒𝑟𝑡𝑎𝑖𝑛 𝑑𝑒𝑓𝑎𝑢𝑙𝑡𝑠 𝑖𝑛 𝑡ℎ𝑒 𝑟𝑒𝑝𝑎𝑦𝑚𝑒𝑛𝑡 𝑜𝑓 𝑡𝑒𝑟𝑚 𝑙𝑜𝑎𝑛𝑠 𝑎𝑛𝑑 𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡” 𝑤𝑎𝑠 𝑎𝑛 𝑎𝑐𝑘𝑛𝑜𝑤𝑙𝑒𝑑𝑔𝑚𝑒𝑛𝑡 𝑜𝑓 𝑡ℎ𝑒 𝑑𝑒𝑏𝑡. #IBCLaw #SupremeCourtRuling #NCLAT #BalanceSheetDisclosure #DebtAcknowledgment #Auditor #FinancialReporting #AuditorObservations #CorporateDebt #InsolvencyLaw #BankruptcyLaw

𝗦𝘂𝗽𝗿𝗲𝗺𝗲 𝗖𝗼𝘂𝗿𝘁 𝗥𝘂𝗹𝗶𝗻𝗴: 𝗚𝗶𝗳𝘁 𝗗𝗲𝗲𝗱𝘀 𝗔𝗿𝗲 𝗜𝗿𝗿𝗲𝘃𝗼𝗰𝗮𝗯𝗹𝗲! Gift deeds can't be revoked ordinarily. The Supreme Court has observed that once a gift deed is executed, it's irrevocable unless specific conditions are met. 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆: A gift deed is valid and irreversible if: No right of revocation is reserved in the deed. The gift's purpose is fulfilled by the donee. 𝗕𝘂𝘁, 𝘁𝗵𝗲𝗿𝗲 𝗮𝗿𝗲 𝗲𝘅𝗰𝗲𝗽𝘁𝗶𝗼𝗻𝘀! The Supreme Court outlined three conditions for revocation: 𝗠𝘂𝘁𝘂𝗮𝗹 𝗔𝗴𝗿𝗲𝗲𝗺𝗲𝗻𝘁: Donor and donee agree to revoke on occurrence of a specified event. 𝗥𝗲𝘃𝗼𝗰𝗮𝗯𝗹𝗲 𝗚𝗶𝗳𝘁: Parties agree that the gift is revocable at the donor's will. 𝗖𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝘂𝗮𝗹 𝗚𝗶𝗳𝘁: Gift is rescinded if it's in the nature of a contract. #GiftDeed #Irrevocable #SupremeCourtRuling #PropertyLaw #ContractLaw #Gift #BusinessTransactions #PersonalFinance #LawUpdate #LegalAwareness #GiftTax #Donations #EstatePlanning

🚨 𝗦𝗘𝗕𝗜 𝗦𝗖𝗢𝗥𝗘𝗦 𝗣𝗼𝗿𝘁𝗮𝗹 𝗨𝗽𝗱𝗮𝘁𝗲 🚨 The SEBI Complaint Redress System has migrated to a new portal: 👉 https://scores.sebi.gov.in Please use the new portal for all complaint-related matters. #SEBI #Compliance #SCORES #InvestorRelations

His unmatched wisdom, humility, and generosity will forever inspire me and countless others. India has lost a true visionary, but his legacy will continue to guide us Om Shanti Sir 💐🙏🙏🙏 #RatanTata #Tata

🚀 𝗜𝗣𝗢𝘀 𝗕𝗲𝘆𝗼𝗻𝗱 𝗣𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆: 𝗛𝗼𝘄 𝗟𝗼𝘀𝘀-𝗠𝗮𝗸𝗶𝗻𝗴 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗮𝗿𝗲 𝗚𝗼𝗶𝗻𝗴 𝗣𝘂𝗯𝗹𝗶𝗰 𝗗𝗲𝘀𝗽𝗶𝘁𝗲 𝗻𝗼𝘁 𝗮𝗱𝗵𝗲𝗿𝗶𝗻𝗴 𝗲𝗹𝗶𝗴𝗶𝗯𝗶𝗹𝗶𝘁𝘆! Startups and business professionals, 𝗱𝗶𝗱 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 that even if a company is operating at a loss and experiencing negative cash flow, it can still come out with an 𝗜𝗻𝗶𝘁𝗶𝗮𝗹 𝗣𝘂𝗯𝗹𝗶𝗰 𝗢𝗳𝗳𝗲𝗿𝗶𝗻𝗴 (𝗜𝗣𝗢)? 🔍 𝗛𝗲𝗿𝗲’𝘀 𝗛𝗼𝘄: Under the SEBI regulations, companies that don’t meet the traditional profitability and cash flow benchmarks can still go public through the 𝗤𝘂𝗮𝗹𝗶𝗳𝗶𝗲𝗱 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 𝗕𝘂𝘆𝗲𝗿 (𝗤𝗜𝗕) route. SEBI’s provisions allow 𝗮𝘁 𝗹𝗲𝗮𝘀𝘁 𝟳𝟱% of the IPO to be reserved for QIBs, ensuring investor confidence and providing startups an opportunity to raise capital. 🧑💻 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗧𝗵𝗮𝘁 𝗛𝗮𝘃𝗲 𝗧𝗮𝗸𝗲𝗻 𝗧𝗵𝗶𝘀 𝗣𝗮𝘁𝗵: 1. #𝗭𝗼𝗺𝗮𝘁𝗼 - A loss of ₹812 crore at the time of IPO. Listing Price: ₹115 Current Price: ₹90 2. #𝗣𝗮𝘆𝘁𝗺 - A staggering ₹4,230 crore loss before IPO. Listing Price: ₹2,150 Current Price: ₹650 3. #𝗡𝘆𝗸𝗮𝗮 - Net loss reported pre-IPO. Listing Price: ₹1,125 Current Price: ₹1,420 📈 𝗨𝗽𝗰𝗼𝗺𝗶𝗻𝗴 𝗟𝗼𝘀𝘀-𝗠𝗮𝗸𝗶𝗻𝗴 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗘𝘆𝗲𝗶𝗻𝗴 𝗜𝗣𝗢𝘀: #𝗦𝘄𝗶𝗴𝗴𝘆, #Ather, and #𝗙𝗶𝗿𝘀𝘁𝗖𝗿𝘆 are just a few #startups gearing up for their #IPOs despite current losses. While these companies have shown promising growth, it’s essential to remember that profitability may still be years away. ⚠️ 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗖𝗮𝗿𝗲 𝗧𝗶𝗽𝘀: Always assess unit economics, growth potential, and customer acquisition costs rather than focusing solely on profitability. Understand that institutional investors are key players in these IPOs. Their confidence often signals potential long-term growth, but caution is advised due to the high volatility of such investments. 💡 𝗣𝗿𝗼 𝗧𝗶𝗽: Don’t just follow the hype! Before investing in loss-making companies, review the business model, growth trajectory, and their path to profitability. #Startups #IPO #InvestorAwareness #BusinessGrowth #SEBI #ZomatoIPO #PaytmIPO #NykaaIPO #InvestorTips #BusinessFinance #Investment #QIB

𝗠𝗮𝗷𝗼𝗿 𝗥𝗲𝗹𝗶𝗲𝗳 𝗳𝗼𝗿 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀: 𝗠𝗖𝗔 𝗣𝘂𝘁𝘀 𝗜𝗻𝗱 𝗔𝗦 𝟭𝟭𝟳 𝗼𝗻 𝗛𝗼𝗹𝗱 In a significant move, the Ministry of Corporate Affairs (MCA) has deferred the implementation of the long-awaited accounting standard Ind AS 117 for the insurance sector. Companies will continue using Ind AS 104 until IRDAI rolls out clear guidelines on Ind AS 117. This rollback is a double-edged sword. While it offers immediate relief to insurers concerned about complex revenue recognition requirements under Ind AS 117, it keeps India's insurance sector non-aligned with IFRS 17—a standard already adopted by 140+ countries. The challenge? A delayed transition may create inconsistencies in global reporting standards, affecting investor confidence and comparability. Insurance companies must now brace themselves for future regulatory changes and use this time to refine their systems for eventual adoption. #Insurance #Accounting #MCA #IndAS117 #IFRS17 #Finance #Compliance #India