CA Vijay Kalani

Chartered Accountants | Business Strategy & Start-up Consultant | Trade Finance Advisors | Virtual CFO

[CA Vijay Kalani @VijayKalani_ca]

𝗦𝗧𝗥𝗜𝗞𝗘 — 𝗢𝗨𝗥 𝗥𝗜𝗚𝗛𝗧 𝗢𝗥 𝗔 𝗗𝗜𝗦𝗥𝗨𝗣𝗧𝗜𝗢𝗡 𝗧𝗢 𝗦𝗢𝗖𝗜𝗘𝗧𝗬?

India’s freedom struggle witnessed powerful movements, protests and mass participation.

Even in independent India, public movements, including those preceding the 2014 change in government, have demonstrated the power of collective voices.

Students, employees, bankers, farmers, trade associations, political parties and ordinary citizens have all used strikes and demonstrations to raise their demands.

𝗕𝘂𝘁 𝗼𝗻𝗲 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗻𝗲𝗲𝗱𝘀 𝘁𝗼 𝗯𝗲 𝗮𝘀𝗸𝗲𝗱:

𝗦𝗵𝗼𝘂𝗹𝗱 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝘁𝗼 𝗽𝗿𝗼𝘁𝗲𝘀𝘁 𝗿𝗲𝘀𝘂𝗹𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗱𝗶𝘀𝗿𝘂𝗽𝘁𝗶𝗼𝗻 𝗼𝗳 𝗼𝘁𝗵𝗲𝗿𝘀’ 𝗱𝗮𝗶𝗹𝘆 𝗹𝗶𝘃𝗲𝘀?

Today, strikes sometimes result in:
❌ Closure of businesses and public services.
❌ Disruption of transport, education and essential activities.
❌ Financial losses to individuals and the economy.
❌ Damage to public property and risks to human safety.

Often, the general public suffers without even knowing the actual demands or the government’s response.

𝗜𝘀 𝗶𝘁 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗿𝗲𝗱𝗲𝘀𝗶𝗴𝗻 𝗼𝘂𝗿 𝗽𝗿𝗼𝘁𝗲𝘀𝘁 𝘀𝘆𝘀𝘁𝗲𝗺?

I believe India should consider establishing a 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲𝗱 𝗣𝘂𝗯𝗹𝗶𝗰 𝗣𝗿𝗼𝘁𝗲𝘀𝘁 & 𝗚𝗿𝗶𝗲𝘃𝗮𝗻𝗰𝗲 𝗥𝗲𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗠𝗲𝗰𝗵𝗮𝗻𝗶𝘀𝗺.

𝟭. 𝗣𝗿𝗼𝘁𝗲𝘀𝘁 𝗪𝗶𝘁𝗵𝗼𝘂𝘁 𝗦𝘁𝗼𝗽𝗽𝗶𝗻𝗴 𝗪𝗼𝗿𝗸
Why can’t employees, professionals and other groups express their disagreement by wearing black bands, badges or other peaceful symbols while continuing their duties wherever feasible?

𝟮. 𝗗𝗲𝗱𝗶𝗰𝗮𝘁𝗲𝗱 𝗣𝗿𝗼𝘁𝗲𝘀𝘁 𝗦𝗽𝗮𝗰𝗲𝘀
Just as cities develop stadiums, exhibition grounds and weekly markets, why not develop designated protest grounds with drinking water, sanitation, medical assistance, security and media facilities?

These should be accessible alternatives, not restrictions on lawful peaceful assemblies elsewhere.

𝟯. 𝗙𝗼𝗿𝗺𝗮𝗹 𝗗𝗲𝗺𝗮𝗻𝗱 𝗦𝘂𝗯𝗺𝗶𝘀𝘀𝗶𝗼𝗻
Before a planned strike, organisers could submit a formal Demand Note to the District Collector, clearly explaining their grievances, demands and proposed action.

𝟰. 𝗖𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗲𝗱 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲
The District Collector could forward the demands to the Police, concerned departments, relevant ministries and a proposed Public Protest & Grievance Coordination Authority.

𝟱. 𝗣𝘂𝗯𝗹𝗶𝗰 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆
The concerned ministry should issue a time-bound public response explaining:

• What is being demanded?
• Which demands are acceptable?
• Which demands are not acceptable, and why?
• What action is proposed and within what timeline?

𝟲. 𝗠𝗲𝗱𝗶𝗮 𝗔𝘀 𝗮 𝗣𝗹𝗮𝘁𝗳𝗼𝗿𝗺 𝗳𝗼𝗿 𝗗𝗶𝗮𝗹𝗼𝗴𝘂𝗲
Instead of focusing only on crowds, roadblocks and confrontation, media organisations could voluntarily dedicate structured discussion time to presenting the demands, the government’s response and independent expert opinions.

𝗧𝗵𝗲 𝗿𝗲𝗮𝗹 𝗯𝗲𝗻𝗲𝗳𝗶𝘁?
Citizens would understand both sides.

Unreasonable demands could be publicly questioned.

Genuine grievances could receive wider support.

Government decisions and delays would become more transparent.

And importantly, society could continue functioning while democratic voices remain heard.

𝗧𝗵𝗲 𝗼𝗯𝗷𝗲𝗰𝘁𝗶𝘃𝗲 𝗶𝘀 𝗻𝗼𝘁 𝘁𝗼 𝘀𝘁𝗼𝗽 𝗽𝗿𝗼𝘁𝗲𝘀𝘁𝘀. 𝗜𝘁 𝗶𝘀 𝘁𝗼 𝗺𝗮𝗸𝗲 𝗽𝗿𝗼𝘁𝗲𝘀𝘁𝘀 𝗺𝗼𝗿𝗲 𝗺𝗲𝗮𝗻𝗶𝗻𝗴𝗳𝘂𝗹, 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗯𝗹𝗲 𝗮𝗻𝗱 𝗲𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲.

https://t.co/iOyTZG0fUw

[CA Vijay Kalani @VijayKalani_ca]

𝗧𝗮𝘅 𝗔𝘂𝗱𝗶𝘁 𝗗𝗲𝗹𝗮𝘆: ₹𝟳𝟱,𝟬𝟬𝟬 𝗳𝗼𝗿 𝗮 𝗢𝗻𝗲-𝗗𝗮𝘆 𝗗𝗲𝗹𝗮𝘆?

𝗦𝗵𝗼𝘂𝗹𝗱 𝘄𝗲 𝗿𝗲𝘁𝗵𝗶𝗻𝗸 𝘁𝗵𝗲 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗧𝗮𝘅 𝗔𝘂𝗱𝗶𝘁 𝗙𝗲𝗲 𝘂𝗻𝗱𝗲𝗿 𝘁𝗵𝗲 𝗻𝗲𝘄 𝗜𝗻𝗰𝗼𝗺𝗲-𝘁𝗮𝘅 𝗔𝗰𝘁?

Under Section 428 of the Income-tax Act, 2025, as amended by the Finance Act, 2026, failure to get accounts audited and furnish the Tax Audit Report as required under Section 63 attracts a fee of:

🔹 ₹75,000 — delay up to one month
🔹 ₹1,50,000 — thereafter

The earlier penalty mechanism has thus been replaced by a fixed fee structure.

The intention of encouraging timely compliance is understandable.

𝗕𝘂𝘁 𝗹𝗲𝘁 𝘂𝘀 𝗹𝗼𝗼𝗸 𝗮𝘁 𝗶𝘁 𝗳𝗿𝗼𝗺 𝗮 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗮𝗹 𝗽𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲.

Consider three businesses:

Business A — Turnover ₹2 Crore
Business B — Turnover ₹20 Crore
Business C — Turnover ₹2,000 Crore

If each delays the Tax Audit Report by just a few days, the statutory fee can be the same — ₹75,000.

But are their compliance capabilities really the same?

A ₹2 crore business may be owner-managed, working with a small accounts team and basic accounting software.

A ₹20 crore business may have dedicated accountants, established processes and better infrastructure.

A ₹2,000 crore enterprise may have qualified finance professionals, ERP/SAP systems, SOPs, internal controls and specialised compliance teams.

𝗬𝗲𝘁, 𝗳𝗼𝗿 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝗱𝗲𝗹𝗮𝘆, 𝘁𝗵𝗲 𝗳𝗲𝗲 𝗰𝗮𝗻 𝗯𝗲 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲.

And there is another issue.

Suppose a small businessman is unable to complete the audit by the due date because of reconciliation issues, staff shortage, technical difficulties or some other genuine operational problem.

𝗘𝘃𝗲𝗻 𝗮 𝘀𝗵𝗼𝗿𝘁 𝗱𝗲𝗹𝗮𝘆 𝗰𝗮𝗻 𝗿𝗲𝘀𝘂𝗹𝘁 𝗶𝗻 𝗮 ₹𝟳𝟱,𝟬𝟬𝟬 𝗳𝗲𝗲.

Could a more graded approach achieve the same compliance objective without making a short delay disproportionately expensive?

For example, the Government could consider a 𝗽𝗲𝗿-𝗱𝗮𝘆 𝗳𝗲𝗲 𝘄𝗶𝘁𝗵 𝗮 𝗺𝗮𝘅𝗶𝗺𝘂𝗺 𝗰𝗮𝗽.

Illustratively, if it were ₹2,500 per day, capped at ₹1,50,000:

1 day delay → ₹2,500
5 days → ₹12,500
10 days → ₹25,000
30 days → ₹75,000
60 days → ₹1,50,000

The numbers are only illustrative—the principle is more important.

𝗧𝗵𝗲 𝗹𝗼𝗻𝗴𝗲𝗿 𝘁𝗵𝗲 𝗱𝗲𝗳𝗮𝘂𝗹𝘁, 𝘁𝗵𝗲 𝗵𝗶𝗴𝗵𝗲𝗿 𝘁𝗵𝗲 𝗰𝗼𝗻𝘀𝗲𝗾𝘂𝗲𝗻𝗰𝗲.

This would continue to encourage timely compliance while giving taxpayers a strong incentive to complete the audit immediately after the due date rather than facing the same ₹75,000 fee whether the initial delay is very short or extends close to a month.

The Income-tax Act itself already recognises the concept of a 𝗽𝗲𝗿-𝗱𝗮𝘆 𝗳𝗲𝗲 for certain other compliance defaults.

Perhaps the Government and policymakers may consider whether a similar graded mechanism would be appropriate for Tax Audit defaults as well.

𝗧𝗮𝘅 𝗹𝗮𝘄 𝘀𝗵𝗼𝘂𝗹𝗱 𝗰𝗿𝗲𝗮𝘁𝗲 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗱𝗶𝘀𝗰𝗶𝗽𝗹𝗶𝗻𝗲 — 𝗯𝘂𝘁 𝗮 𝘀𝗵𝗼𝗿𝘁 𝗱𝗲𝗹𝗮𝘆 𝘀𝗵𝗼𝘂𝗹𝗱 𝗻𝗼𝘁 𝗯𝗲𝗰𝗼𝗺𝗲 𝗮 𝗱𝗶𝘀𝗽𝗿𝗼𝗽𝗼𝗿𝘁𝗶𝗼𝗻𝗮𝘁𝗲 𝗯𝘂𝗿𝗱𝗲𝗻.

A graded fee could potentially balance both objectives:
𝗗𝗶𝘀𝗰𝗶𝗽𝗹𝗶𝗻𝗲 + 𝗣𝗿𝗼𝗽𝗼𝗿𝘁𝗶𝗼𝗻𝗮𝗹𝗶𝘁𝘆.

Would a per-day fee with a reasonable maximum cap be a better compliance mechanism?

#IncomeTax #TaxAudit #IncomeTaxAct2025 #TaxCompliance #FinanceAct2026 #TaxProfessionals #EaseOfDoingBusiness #MSME #CharteredAccountants #TaxReforms

[CA Vijay Kalani @VijayKalani_ca]

@mainbhiengineer

[CA Vijay Kalani @VijayKalani_ca]

@mainbhiengineer Try Rediff Pay

[CA Vijay Kalani @VijayKalani_ca]

@CommonBS786OM

[CA Vijay Kalani @VijayKalani_ca]

@IRInvesting Install Rediff Pay

[CA Vijay Kalani @VijayKalani_ca]

@TheRebel_IN Install Rediff Pay then

[CA Vijay Kalani @VijayKalani_ca]

@manoj_216 After MDR and the ongoing 30% TPAP volume-cap review in Dec 2026, the playing field is opening up.
New players like RediffPay finally get a real shot to grow — while the big two still dominate for now.
More competition = healthier UPI ecosystem.
#UPI @CCAvenue @AvenuesAILtd

[CA Vijay Kalani @VijayKalani_ca]

𝗔𝘃𝗲𝗻𝘂𝗲𝘀𝗔𝗜 (𝗜𝗻𝗳𝗶𝗯𝗲𝗮𝗺) + 𝗥𝗲𝗱𝗶𝗳𝗳𝗣𝗮𝘆 — Could UPI’s Next Phase Create a Big Opportunity? 🇮🇳

India’s UPI story may be entering a new phase.

Today, PhonePe + Google Pay control nearly 80% of UPI volumes. At the same time, two important policy discussions are converging:

🔹 30% TPAP market-share cap — currently scheduled for Dec-2026
🔹 MDR — Parliament has now enabled a framework under which nominal MDR may be introduced for selected merchant transactions above a threshold.

This could become particularly interesting for AvenuesAI (formerly Infibeam Avenues).

Its subsidiary Rediff has already secured the NPCI TPAP licence, and RediffPay has undergone CUG testing ahead of its UPI launch.

If India genuinely wants to diversify UPI beyond the two dominant apps, new TPAPs will need room to scale.

And if selected merchant UPI transactions eventually become monetisable through MDR, the opportunity becomes not merely about UPI volume — but UPI economics.

For AvenuesAI, the pieces are increasingly visible:

CCAvenue Merchant Network

Rediff Consumer Base
RediffPay UPI
PPI / Wallet
BBPS
Offline Payments
AI
= Consumer + Merchant Fintech Ecosystem**

AvenuesAI itself has described Rediff as its pivot into consumer payments, complementing its established B2B merchant and banking ecosystem.

𝗜𝗳 𝘁𝗵𝗲 𝟯𝟬% 𝗰𝗮𝗽 𝗶𝘀 𝗲𝗻𝗳𝗼𝗿𝗰𝗲𝗱 + 𝗠𝗗𝗥 𝗶𝘀 𝗶𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝗲𝗱 + 𝗥𝗲𝗱𝗶𝗳𝗳𝗣𝗮𝘆 𝗲𝘅𝗲𝗰𝘂𝘁𝗲𝘀 𝘄𝗲𝗹𝗹, 𝗶𝘁 𝗰𝗼𝘂𝗹𝗱 𝗰𝗿𝗲𝗮𝘁𝗲 𝗮 𝗺𝘂𝗰𝗵 𝗹𝗮𝗿𝗴𝗲𝗿 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗳𝗼𝗿 𝗔𝘃𝗲𝗻𝘂𝗲𝘀𝗔𝗜 𝘁𝗵𝗮𝗻 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗺𝗮𝘆 𝗯𝗲 𝗽𝗿𝗶𝗰𝗶𝗻𝗴 𝘁𝗼𝗱𝗮𝘆.

But the key word remains: EXECUTION.

#AvenuesAI #Infibeam #RediffPay #UPI #MDR #CCAvenue #Fintech #DigitalIndia

@chandrarsrikant @_RituSingh @Iamsamirarora

[CA Vijay Kalani @VijayKalani_ca]

Are All Pieces Finally Coming Together? 🚀

Multiple triggers are lining up:

🔹 UPI MDR – If MDR is permitted on higher-value UPI transactions, payment economics could improve significantly.

🔹 RediffPay – Full UPI commercial rollout remains a major consumer-side trigger.

[CA Vijay Kalani @VijayKalani_ca]

𝗮 𝗱𝗲𝗳𝗶𝗻𝗶𝗻𝗴 𝗽𝗵𝗮𝘀𝗲 𝗳𝗼𝗿 𝗔𝘃𝗲𝗻𝘂𝗲𝘀𝗔𝗜.

#AvenuesAI #Infibeam #RediffPay #CCAvenue #UPI #MDR #AI #Fintech #Rediff #Investing @_RituSingh

[CA Vijay Kalani @VijayKalani_ca]

Now story is less about getting approvals & more about execution & monetisation.

𝗜𝗳 𝗥𝗲𝗱𝗶𝗳𝗳𝗣𝗮𝘆+𝗣𝗣𝗜+𝗠𝗗𝗥+𝗜𝗙𝗦𝗖+𝗔𝗜 𝗺𝗼𝗻𝗲𝘁𝗶𝘀𝗮𝘁𝗶𝗼𝗻+𝗥𝗲𝗱𝗶𝗳𝗳 𝗜𝗣𝗢 𝗮𝗹𝗹 𝗺𝗼𝘃𝗲 𝗳𝗿𝗼𝗺 𝗽𝗹𝗮𝗻 𝘁𝗼 𝗲𝘅𝗲𝗰𝘂𝘁𝗶𝗼𝗻 𝗻𝗲𝘅𝘁 𝟭𝟮 𝗺𝗼𝗻𝘁𝗵𝘀 𝗰𝗼𝘂𝗹𝗱 𝗯𝗲

[CA Vijay Kalani @VijayKalani_ca]

Received suspicious call from [phone] claiming to be a delivery agent of Blue Dart. Send Sms & I asked to dial *21* 800 2987541#, which is a call forwarding code clearly a fraud attempt.

@BlueDart_ to investigate this and alert customers. Others, please stay cautious.

[CA Vijay Kalani @VijayKalani_ca]

Please ensure that such calls are stopped with immediate effect. Continued unsolicited communication will leave me with no option but to consider cancelling my SBI Credit Card.

Kindly address this matter at the earliest.
.

[CA Vijay Kalani @VijayKalani_ca]

@SBICard_Connect
I request SBI Card to discontinue all promotional and transactional calls regarding EMI options. After every credit card transaction, I receive repeated EMI-related calls despite declining the offer in the first instance.

[CA Vijay Kalani @VijayKalani_ca]

@InfibeamAvenues stands out as a quietly building powerhouse in India’s digital payments ecosystem, blending B2B infrastructure with emerging consumer-facing innovations. it’s one of the few fintechs with a complete regulatory stack.

#RediffPay #UPI #MDR #CreditCardOnUPI #NPCI

[CA Vijay Kalani @VijayKalani_ca]

Why Infibeam?
Fintechs with the complete regulatory stack:

✅ TPAP (UPI) – RediffPay
✅ PA
✅ PPI Wallet
✅ BBPOU
✅ IFSC PSP
✅ Global acquiring (UAE, Saudi)

That’s Infibeam Avenues.

With RediffPay launch around the corner (NPCI final approval pending),

[CA Vijay Kalani @VijayKalani_ca]

company enters a high-margin cycle where UPI volumes finally start monetising.

More customers now paying via Credit Cards on UPI, which means MDR is back on a large part of UPI transactions.

Next stage → Credit Lines on UPI
This will make even more UPI payments chargeable.