India Budget 2022: Hit and Miss

Thursday, February 03, 2022

Session Timing: 9:00 AM - 10:00 AM (IST) / 11:30 AM – 12:30 PM (SGT) / 7:30 PM – 8:30 PM (PT)

 

INTRODUCTION

The Indian Finance Minister (FM) presented the fourth financial budget of the NDA 2.0 government for financial year (FY) 2022-23, on February 01, 2022. Given that the COVID-19 pandemic has continued to adversely impact the Indian economy, resulting in weakening cues from capital markets, and substantial supply chain disruptions across industries; there were huge expectations from this Budget for reviving the spirit of the economy.

While the Budget has managed to deliver on a few expectations, such as introducing a regime for the taxation of ‘Virtual Digital Assets’ (including crypto-assets, and NFTs), additional incentives for investments into IFSC, and some extension of benefits granted to start-ups; the Budget however seems to have fallen short of introducing significant reforms required to provide an impetus to India’s economic growth.

We cordially invite you to be a part of our webinar on February 03, 2022 where we will discuss the implications of the changes announced in the Budget 2022.

Flow of the session

9:00 AM - 10:00 AM (IST) / 11:30 AM – 12:30 PM (SGT) / 7:30 PM - 8:30 PM (PT)

Panel Discussion

Speakers

PARUL JAIN Leader – International Tax Practice, Nishith Desai Associates

Parul co-heads the International Tax Practice at Nishith Desai Associates. A lawyer and a chartered accountant by profession, she has close to two decades of experience in corporate and international tax field and specializes in M&A transactions and Private Equity space. Prior to joining Nishith Desai Associates, she was partner at M&A Tax practice in one of the Big Four accounting firms. She advises extensively on cross border taxation, acquisition and reorganisation strategies including debt funding and investment strategies. She has also worked closely with renowned fund managers in structuring set up of their offshore and domestic fund platforms, including providing advice on carry structuring from a legal and tax perspective. She has been recognized by International Tax Review World Tax 2013 and has also been listed in The Legal500 Directory. She has also been recognized as one of the Leading Women Leaders in Tax 2016, 2017 and 2019 by International Tax Review.

 

ASHISH SODHANI Leader – International Tax Practice, Nishith Desai Associates

Ashish Sodhani is a senior member of the International Tax Practice at Nishith Desai Associates. Ashish focuses on cross border tax and corporate structuring transactions including tax litigation. He has been involved in issues relating to applicability of Minimum Alternate Tax on foreign investors before the High Court and has represented clients before various forum’s including Tribunals, various High Courts and Supreme Court of India in relation to disputes on international tax. He regularly writes articles which are published in international leading publications.

Ashish holds a Bachelor’s degree in law from Government Law College, Mumbai.

 

MEYYAPPAN NAGAPPAN Leader – International Tax Practice, Nishith Desai Associates

Meyappan Nagappan is a Leader in the International Tax Practice at Nishith Desai Associates. He leads the tech and tax practice, impact investment, social finance, tax policy and GST practices at NDA. He regularly advices several top technology companies on tax and structuring issues, from an international tax and GST perspective including on upcoming technologies and digital products such as block-chain, crypto and gaming.

He has done extensive work advising some of the biggest non-profit foundations, development finance institutions and impact investment funds, including structuring advise in relation to India’s first USD 1 Billion education outcomes fund and development impact bonds for the British Asian Trust.

He advices on litigation strategy and appears in select matters. He regularly speaks at the International Bar Association conferences and other tax conferences both in India and abroad.

 

JAIDEEP REDDY Leader – Technology Law and Fin-tech practice, Nishith Desai Associates

Jaideep is a technology lawyer whose practice focuses on disruptive technologies and their interaction with the law. In particular, he advises on fin-tech regulations, privacy and cybersecurity, e-commerce, telecom, and other technology-related regulatory, public policy and contentious issues.

Jaideep led the firm’s representation of the Internet and Mobile Association of India in a landmark Supreme Court case where a central bank restriction on virtual currencies was set aside by the Court. He also led the drafting of an independent submission made by the firm to the Government of India on virtual currencies, as well as the drafting of a self-regulatory code of conduct for the industry. He was recognized as a Notable Practitioner by Chambers and Partners for its India Fintech Guide. He is qualified to practice in India and California, U.S.A.