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In your Will, add a guardian for minor children
Image Source: Livemint.com

The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in the  following article which was published by Livemint and the online edition of the same can be found here.

A disturbing trend from the second wave of covid is the increasing number of orphaned and vulnerable minor children across India. While some minors have lost both their parents, others are in a situation where their surviving parent is unable to take care of oneself or the family. Families are often confused and scared about what to do in such scenarios. Parents admitted to certain hospitals are being made to sign declarations about their children’s ‘custody’ if they do not survive.

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The Opportunity of a Lifetime for HNIs—Saving the Indian NGO Sector

This post is written by the authors in collaboration with our Guest Authors –  Ashish Karamchandani, Senior Advisor at FSG and Abhishek Khanna, Senior Consultant at FSG

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The year 2020 will be etched in our memories for a long time. COVID-19 has blindsided most of us. The non-discriminating virus has not spared any country, religion, or occupation, and has impacted the lives of every individual in the world.

Yet some have suffered more than others. In India, the impact has been greater on the marginalised groups in cities, such as the migrant workers and the low-income households. Nearly four crore individuals are reported to be without work or home, and their plight is unlikely to end any time soon. Although, the pandemic is status neutral, and can affect anybody belonging to any strata of the society, containment zones have shifted from the more affluent parts of cities to the slums and other congested areas.  A third group comprising the aging citizens in cities, bereft of any support system, also remain vulnerable.
Continue Reading The Opportunity of a Lifetime for HNIs—Saving the Indian NGO Sector

I’m leaving on a Jet Plane (or maybe not!) CBDT clarifies tax residency for people trapped in India

John Denver famously sang these lyrics in his famous love ballad, “Leaving on a Jet Plane”:

“’Cause I’m leavin’ on a jet plane

Don’t know when I’ll be back again

Oh babe, I hate to go”

When John sang these iconic words in 1966, when flying was quite the luxury, he could not even have dreamed how aptly they can be applied to the terrifying ‘Severe Acute Respiratory Syndrome Coronavirus-2’ (“COVID-19”) virus. With India going into a harsh and strictly enforced total lockdown from March end till May 17, 2020 (likely to be substantially extended), all airports have been shut and flights grounded. No one is going anywhere, whether they like it or not. No emotional love ballads will be sung, no jet planes will fly off into the sunset. A few repatriation flights have started to bring Indians stuck overseas back to India as part of the world’s largest peacetime repatriation effort, and allow some foreigners to leave India for their home countries – but as of now it is still a trickle.
Continue Reading I’m leaving on a Jet Plane (or maybe not!): CBDT clarifies tax residency for people trapped in India