Continuously Update Your Knowledge: Stay updated with the latest developments, regulations, and best practices in your field. Take advantage of professional development courses, webinars, seminars, and conferences to enhance your knowledge and skills.

Networking: Build and maintain a strong professional network. Attend industry events, join professional organizations, and engage with peers to increase your visibility, exchange ideas, and explore new opportunities.

Build a Personal Brand: Create a strong personal brand by showcasing your expertise, professionalism, and integrity both online and offline. Develop a professional website, maintain an active presence on social media, and share thought leadership articles to establish yourself as an authority in your field.

Expand Your Skillset: Acquire additional skills that complement your finance expertise. This could include areas like leadership, communication, project management, or technology. Having a diverse skill set can open up new career prospects and make you a more well-rounded professional.

Seek Challenging Assignments: Take on challenging projects or assignments to gain practical experience and expand your knowledge. This will not only enhance your skills but also showcase your capabilities to employers or clients.

Maintain Work-Life Balance: While excelling professionally is important, it is equally crucial to maintain a healthy work-life balance. Prioritize time for your family, friends, hobbies, and self-care to ensure overall well-being.

Give Back to the Community: Engage in activities that contribute to the betterment of society. Volunteer your time and expertise to organizations, participate in community events, or mentor aspiring finance professionals. These activities not only provide personal satisfaction but also enhance your professional reputation.

Setting Goals: Set both short-term and long-term goals for your professional and personal life. Regularly review and update these goals and develop actionable plans to achieve them. Setting clear targets and working towards them will keep you motivated and focused.

Remember, achieving perfection is a continuous journey, and it’s important to be adaptable and embrace lifelong learning. By following the above tips, you can further enhance your professional growth, contribute to your family’s well-being, and become a well-rounded and successful finance professional.

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1. The Shri Ram Janmabhoomi Teerth Kshetra (PAN: AAZTS6197B) has been notified under sub-clause (b) of Section 80G(2), thus enabling deduction U/S 80G for donations made to the Trust.

2. Starting from the fiscal year 2020-21 and onwards, contributions made during this period are deemed eligible for deductions under Section 80G.

3. Regardless of whether the donation is made before or after the pran pratishtha of Ram Lalla, deduction is available U/S 80G subject to conditions.

4. We need to note that only 50% deduction available. Also, if the aggregate donation surpasses 10% of the adjusted gross total income, any excess amount beyond this threshold will not be eligible for deduction under Section 80G.

5. For claiming donation as a deduction, we need the receipt from the Trust, which is a proof of payment of donation.

6. We also need the Form 10BE as an evidence to support the Section 80G deduction while filing ITR.

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The temple in Ayodhya is a milestone.

Not because it’s where Ram was born or because Hindus have run out of temples. No, it’s a milestone because it’s a crucial precedent. A statement. Not of Hindu supremacy or Hindu Rashtra, but of something far more fundamental and far more encompassing than just Hindutva. Let me start with some snippets from the past.

Most Muslim-mandir interactions did not result in destruction. They resulted in conversion. Even when destroyed, the materials and the site were invested into the construction of a new mosque. Now India is no small geography. There was never a shortage of land for new structures. And yet, they chose to build them exactly where temples stood before. Why?

Not because they needed a place of worship, but because they needed to humiliate. To establish conquest. To loot too, but mostly to make the statement.

No, it’s not practical to undo every single one of those episodes. But it’s crucial, VERY crucial to ensure that history doesn’t get dismissed selectively.

For the longest time, it has been.

Not just in India but the world over. Every continent Islam has touched, places of worship have magically turned into mosques. Countless Zoroastrian fire temples, countless churches and even cathedrals, countless synagogues…have fallen to this deluge of institutional savagery. Hagia Sofia and Temple Mount are just the better-known names. But lesser names abound. Iran and Central Asia are littered with mosques that used to be atashgahs or fire temples.

Spain is littered with grand churches that irreversibly converted to mosque under the 800-year-old Islamic rule. But that country, credit where due, managed to revert most of those back to their former selves.

Others haven’t been so successful. Once a mosque, always a mosque, with some tiny handful of exceptions
Of course, this is just one drop in an ocean that encompasses every inhabited continent.
This wasn’t right. This isn’t right. In the game of bloodthirsty oneupmanship, one religion, one community has always come on top either by the sword, or by tears.

As of last reckoning, the number of places of worship the world has lost to Islam runs in five figures. Is there any merit in reverting all of them? Of course, not. But leaving them be sends out, has sent out so far, a terrible message—that what you take by force remains yours. And taking it back from you somehow makes you a victim.

That message is dishonest. That message enables entitlement.

What doesn’t belong to you, should not remain with you. Not forever anyway.

The temple in Ayodhya is a precedent.

That this reversal is possible.

Whether others follow suit is immaterial.
Whether Ram was born there is immaterial.
Whether Hindus have enough temples is immaterial.
Whether there’s enough mosques is immaterial.

The only fact of any consequence is that this one didn’t belong to you. You should have gracefully relented and saved face. You chose violence.

As you always have.

Congratulations India!

1. A global minimum tax on billionaires, equal to 2% of their wealth, could raise nearly $250 billion a year, according to a think tank co-funded by the European Union.
2. The EU Tax Observatory proposed such a tax in a report released Sunday and said it would affect fewer than 3,000 billionaires. Billionaires have effective tax rates equivalent to zero to 0.5% of their wealth because they use shell companies to dodge income taxation, said the think tank, which is located at the Paris School of Economics.
3. The developing countries need $500 billion annually in additional public revenue to address the challenges of climate change – needs that could be fully addressed by the tax reforms.
4. The other recommendations include reforming the international agreement on minimum corporate taxation to implement a rate of 25% and remove the loophole that foster tax competition, setting up a mechanism to tax wealthy people, who have been long-term residents in a country and choose to move to a low-tax country, implement unilateral measures to collect some of the tax deficits of multinational companies and billionaires in case global agreements on these issues fail.
5. It also backed the creation of a global asset registry to better fight tax evasion and strengthening the application of economic substance and anti-abuse rules.
6. Before 2013, households owned the equivalent of 10% of world GDP in financial wealth in tax havens globally, the bulk of which was undeclared to tax authorities and belonged to high-net-worth individuals. Today there is still the equivalent of 10% of world GDP in offshore household financial wealth, but in our central scenario only about 25% of it evades taxation, according to the report.
7. It argued that unilateral action, or multilateral action by a leading group of countries, could “pave the way for eventually nearly global agreements”, which would “accelerate rather than impede global cooperation”.

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The Organisation for Economic Cooperation and Development (OECD) published a multilateral treaty on Wednesday that would replace a hodge-podge of national digital services taxes if ratified by enough countries.

The release of the text puts pressure on the United States in particular, where a two-thirds majority in the deeply divided Senate is needed to ratify treaties.

The document is the first pillar of a two pillar overhaul of rules for the cross-border taxation of multinational companies, which was agreed in 2021 by nearly 140 countries but whose implementation is proving slow and complicated.

Many countries complain the world’s fragmented tax system allows multinational companies – particularly major U.S. tech firms – to pay little tax in jurisdictions where they make large revenues, and so some have introduced their own digital taxes, despite opposition from Washington.

The treaty codifies how governments are to reallocate taxing rights on about $200 billion in profits from the biggest and most profitable multinationals to the countries where their sales occur.

The Paris-based OECD estimates the reallocation will yield additional global tax revenue of between $17 billion and $32 billion, with low and middle-income countries gaining the most.

If ratified, the treaty requires that countries that have, or are planning, national digital services taxes drop them.

Washington is particularly sensitive to that issue as many of such taxes were put in place to target big U.S. digital companies such as Google, Amazon and Apple.
To enter into force, the 30 countries home to at least 60% of the affected multinational companies have to ratify the treaty, which means that the U.S. has to be on board.

OECD head of tax Manal Corwin said failure to ratify the text could lead to “grave consequences” and not only because it could trigger a proliferation in the use of digital services taxes and trade retaliation.

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1. 22 Jan 2024 heralds a new dawn in one of the oldest Civilizational States of the world – Bharatvarsh or India.
2. Lord Shri Ram is one of the major deities of Vaishnavite Hinduism and is considered to be the seventh avatar of Lord Maha Vishnu. Shri Ramji is popularly considered to be the Supreme Human and an epitome of fairness, righteous conduct and all that can ever be ideal in a human being.
3. The great King Shri Ram, the eldest of the 50th generation of the Suryavanshi dynasty is estimated to have been born in Ayodhya, on 04 Dec 7323 BC, as the eldest son of King Dasharatha & Queen Kaushalya. Ram’s life and story is encapsulated by Adi Kavi Maharishi Valmiki in his famous epic Ramayana.
4. Lord Ram is said to have married Sita of Janakpur, Nepal on 07 Apr 7307 BC and is said to have later left for Vanvas (exile) on 29 Nov 7306 BC, honoring the word of his father given to another queen Kaikeyi. It is during the vanvas that Maa Sita was abducted by the King of Lanka, Ravana, consequent to which followed a great game of divine pursuit. Lord Hanuman, as an emissary of Lord Ram, is said to have entered Lanka on 01 Oct 7292 BC and met Maa Sita on 02 Oct 7292 BC. The great geological wonder, Ram Setu was said to have been built by the Vanarsena between 26 Oct and 30 Oct 7292 BC. Ram is said to have laid siege to the gates of Lanka on 02 Nov 7292 BC and he is said to have killed Ravan after an intense battle on 15 Nov 7292 BC! Consequently, he is said to have returned to Ayodhya on 06 Dec 7292 BC. Through all these very challenging times, Lord Rama always stood choosing the harder right over the easier wrong and for ensuring the victory of the Good over Evil.
5. Ram’s continued fame & influence and people’s immense faith in such an ideal Supreme Being – almost 9300 years, after his life – can be guaged from the fact that Ramayana is widely popular not only in India, but also across many countries of SE Asia, East Asia, Africa & the Americas. Yet, in India, it was ironical that the very birthplace of Lord Ram was itself under adverse occupation for more than 500 years, his temples destroyed and mosques build over its ruins as a matter of religious subjugation and assertion of religious intolerance & supremacy over the conquered.
6. In a more modern era, consequent to a 134 year old legal battle, stretching across at multiple levels of judicial system in India, the Supreme Court of India finally delivered a unanimous 1045 page detailed judgement – based entirely on archaeological & historical evidences alone – on 09 Nov 2019, handing over the 2.77 acres considered to be the birthplace of Lord Ram, to a specially constituted Trust – The Shri ram Janmabhoomi Teerth Kshetra – to built a grand temple in His honour. Invoking Art 142 of the Constitution, the SC also awarded 5 acres of land to the opposing side to build a suitable grand mosque in Ayodhya itself.
7. The consecration of the Ram Temple at Ayodhya on 22 January 2024 is the culmination of an epic struggle by millions of people in India stretching across many centuries & generations. It signifies the faith & undiluted tenacity and perseverance of the people of India at one level, while signifying the civilisational & cultural renaissance of India at another level – a symbol of the renewal of its hope and resurgence as one of the oldest civilisational states of the world.
8. Hinduism is a unique religion – indeed a way of life, wherein, one seeks to see God’s presence in each living being. As such, every being is treated as born equal to every other being. It is the most diverse and pluralistic of all religions. It treats the whole world as one family – VASUDAIVA KUDUMBAKAM. These broadest of Hinduism’s basic tenents underpins India’s own unique concept of secularism and defines it as equal respect for all religions. This is indeed very different from the European concept of secularism which seeks a total separation of the church from the throne, yet see select clergy of narrow persuasions sitting along peers in parliaments and other select corridors of power.
9. Hope this new dawn serves to unite all Indians as Indians alone and not to see our vast populace through multiple differentiating lenses & dividing characteristics of religion, caste, language, region etc, as pygmy politicians are bound to see our people.
10. Ram of 2024 must symbolise Indian Renaissance & its peaceful rise – an India which is proud of its past heritage. Yet, its rise must serve all Indians, to refocus us all with immense vigour, on educating and right skilling all our people – in arts & sciences as well as in strategy, commerce, finance and trade. The upliftment of all our people towards India becoming a fully developed nation in the decades ahead must remain the sole purpose of all our national endeavours.
11. It must seek to do away with the curse of caste and religious divides; in fact any form of hate must be crushed vigorously so that our nation grows to take its rightful place in the world. This constant idea of extracting political revenge – esp during election seasons – for historical wounds of the long past must be avoided completely. Babur was indeed an invader and was not an Indian by any stretch of imagination. Even his tomb is abroad, in the Bagh-e-Babar in Kabul, Afghanistan, though some seem to visit to pay obesience even today! However, it must be remembered that the Muslims of today’s India are all our fellow Indians by birth & heritage and must not be identified with random invaders who came only to loot, plunder & subjugate this great land that is India.
12. We must engage the world on our terms, as a VISHWA MITRA – a friend of all – and together we must serve to herald a new era of peace, harmony and national regeneration. May our nation emerge strongly from a long period of subjugation, darkness & ignorance. Let no distorians mislead us ever again. Let us be led ahead by the light of knowledge & learning, of compassion & empathy. May we always stand tall on the side of peace and righteous karma!

Jai Hind!!

By 2052 — in less than 30 years from now and five years after the government-christened Amrit Kaal ends in 2047 — India could surpass the US to be the world’s largest economy with a nominal GDP of $45 trillion, a report by foreign broking major CLSA said. It also said that by 2027, India will surpass Japan to be the world’s third largest economy and by 2047, the end of the Amrit Kaal, it will be a $29 trillion economy.

It projected India’s GDP growth to propel it to the top three of the globe’s largest economies, from a mere $3.4 trillion today to larger than Japan’s by 2027, hitting $45 trillion mark by 2052.

At a time when the global economy is facing the twin problem of high inflation and slowing growth, with even the world’s growth engine China not showing a sign of recovery, India has taken the centerstage.

CLSA estimates that the Indian economy will grow by 6.4% in the current fiscal, 6.5% in fiscal 2025 and 7.5% in fiscal 2026. While anticipating a growth slowdown until September 2024, CLSA envisions a cyclical recovery in 2025, estimating a 6.4% growth in the current fiscal year, 6.5% in fiscal 2025, and 7.5% in fiscal 2026.

The foreign brokerage felt India is poised for growth with rising incomes, institutional accessibility and the impact of innovation and digitisation.

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Why I decided to live and work in Africa

Last week I found myself back in Silicon Valley at Stanford University where I did my MBA. I was privileged to attend a talk given by my friend Strive Masiyiwa (one of the entrepreneurs I admire). I encourage you to view the full talk on Strive’s facebook page. After Strive had given his talk, a couple of the students in the audience asked a question many Africans studying abroad almost always ask at such events: should they stay abroad or should they go back home?

I have studied in America twice. Each time, I have come back to work on the continent within 3 months of graduating (the first time was for my undergraduate degree at Macalester College in Minnesota and the second time was after my MBA at Stanford University in California). My decision to come home as opposed to staying in the USA ultimately came down to 3 considerations:

Reason #1: Africa is an entrepreneur’s paradise.
I believe that Africa today is where China was 30 years ago. We’re just beginning to take off. So those on the ground today will capture all these exciting opportunities. This is especially so if you think like an entrepreneur. You see, entrepreneurs succeed by solving problems for society, and guess what–we have so many problems just waiting to be solved in Africa! For this reason, I call Africa ‘an entrepreneur’s paradise’.

For example, we still need to create great infrastructure. So why not be the one to build Elon Musk’s ‘hyperloop’ and enable fast transportation across Africa, without us having to build expensive and obsolete highways? Or why not be the one to build low-cost housing for the 800 million people who will be moving into African cities over the next 40 years? Why not be the one to leverage technology to create low-cost healthcare or education for the hundreds of millions of Africans who don’t have it today? Why not take advantage of Africa’s abundant land, sunshine, and rain to become an ‘agro-billionaire’ by growing and exporting huge amounts of food to the world’s ballooning population? If you have an artistic flair, why not be the one to create the African Disney? Why not be the one to figure out how to bring consumer credit to hundreds of millions of people–perhaps using blockchain technology? Or become rich by creating tourism businesses that also promote the conservation of Africa’s wildlife? The list goes on. There is SO MUCH entrepreneurial opportunity in Africa!

In the US and many western countries, almost all these ideas have already been done. So it’s very difficult to break through unless you have an extremely creative idea. In Africa, the ideas are simple. They’re just waiting for smart and courageous people to make them happen. With the exception of Elon Musk, I’ve never heard of an African billionaire in the USA. Have you? No–almost all the African billionaires we know–Strive Masiyiwa, Aliko Dangote, Patrice Motsepe, Jim Ovia, Folorunso Alakija, Mo Ibrahim, Manu Chandaria, etc– made their fortunes right here in Africa. Case closed.

Reason #2: You can climb the corporate ladder faster in Africa than elsewhere

All businesses in Africa need 3 things: a viable product, some capital, and talented teams. Of those three, most people think capital is in the shortest supply. That’s not true—it’s actually fairly easy to get capital as an entrepreneur if you have the right idea. The real shortage most businesses in Africa struggle with is finding well trained talent with the skills to execute. We have tremendous skills gaps in crucial areas that will be important for Africa to stay competitive. So if you’ve studied abroad and acquired those skills, you’ll be a hot commodity on the continent. I experienced this firsthand when I moved to Johannesburg after my first degree and started working with McKinsey. I was given far greater responsibilities than my colleagues who were working for the same company in New York. As a result, my career took off much faster than my peers who stayed in the USA.

Reason #3: The priceless value of respect and dignity
There is one thing I value far more than money or a successful career–and that is dignity and respect. In the USA, no matter how successful you get, you may be seen as a ‘foreigner’, an outsider, and (especially as the world becomes increasingly racist), even worst things. For example, before Uber came along, I had so many experiences of taxi drivers in New York driving right past me–a successful black man wearing a suit–to pick up the white passenger standing just 10 feet away. The ability to live in your own continent and not have to suffer such disrespect is something that I can’t begin to put a value on. I love living in Africa, listening to our own music, eating our own food, being close to family, friends, and others who respect me for who I am not and because of my skin color. Nothing beats that.

We all have a role to play
Of course, while returning home was the right choice for me and many others, it may not be right for everyone. If I haven’t convinced you about the phenomenal opportunities that exist on the continent, all is not lost. You can still play a role: last year, Africans abroad sent $33billion to Africa, which typically compares to or even exceeds foreign aid sent to Africa. This is is all investment that can support businesses on the continent and that is contributing to our development in some shape or form.

On a final note, in Strive’s talk, he mentioned a program that we run together called the Africa Business Fellowship, where we bring young American professionals (mostly graduates from top MBA programs) to Africa to work in African companies for about 6 months.

I recently met with a group of ABF fellows who had just finished their 6-month stint. The number one question on their minds was–how can I stay on the continent? Almost all of them didn’t want to go back to America! –which goes to show you that something special is happening on this continent. I hope many young Africans around the world will come home and be a part of it.