Direct Taxation in India and selected countries – A Critical Review

CA Divya Jokhakar

Introduction

In order to take a look at the direct tax ecosystem in various parts of the world, we must understand the repercussion of having to pay income tax.

Income tax has direct impact on businesses, individuals, their savings and investment behavior across the world. High marginal tax rates can discourage work, innovation and capital investment since the businessman will spend professional time on compliances and tax planning. But on the reverse, reduction in tax rates affects the economic growth leading to increased deficits and resulting in bad services towards infrastructure and attitude by the government. First, the developing countries require large portion of tax revenues for smooth and effective functioning of the State at national and sub-national levels. Due to globalization and related competition developing countries face difficulties to maintain existing tax revenues. 

The primary source of funding for any nation is taxation. It is a necessary hazard – not liked by people but cannot be done away by any government. 

Any tax system must comprise of the following 4 benefits:

Equity: Tax payers earning high income must pay more tax compared to less tax by lower earning income group.

Progressive: The tax paid should reduce income equality and achieve equal distribution of wealth. The high tax paid by higher income group is used by the government to help the poor and reduce income inequality.

Productive: Such taxes reduce dependency on the national wealth of any nation.

Economic: Since the taxpayers pay income tax DIRECTLY, the administrative cost of the government to levy and collect taxes reduces which further enhances the economic growth. 

One of the most disadvantageous behaviors of income tax is use of loopholes in the legal and tax system by the taxpayer. This tax evasion is a manipulative technique that leads to suppression of profits in the financial statements, reducing the taxpayers' tax liabilities. This article is trying to portray tax rates of selected countries and compare it with the parallel direct tax system in India

Tax rates

The 5 countries with the highest are: 

Ivory Coast - 60%

Finland - 57%

Japan - 56%

Denmark - 56%

Austria - 55%

Compared to the highest personal tax rates of Canada (54%), the UK (45%) , United States – (50.3%) and China (45%)– India’s tax rate is lower. India’s personal tax rate is 42.74%. Germany has a progressive tax, which means that higher-income individuals pay more taxes than lower-income individuals.

The top 3 countries with highest corporate tax rates are:

Comoros - 50% (population 9 lakhs)

Puerto Rico - 38%

Chad, Equatorial Guinea , Zambia, - 35% 

 

Countries that offer very low tax rates for foreign investors are called tax havens. Tax havens generate government revenue by attracting a generous amount of capital inflow and imposing fees, charges, and low tax rates. The world's top ten tax havens are Luxembourg, Cayman Islands, Isle of Man, Jersey, Ireland, Mauritius, Bermuda, Monaco, Switzerland, and the Bahamas.

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https://worldpopulationreview.com/country-rankings/highest-taxed-countries

Individuals

The tax rates for Individuals in India depend on the income brackets (slabs) and their age. Whereas, in the United States the tax brackets are mainly based on the marital status.

Income tax in UK is totally different. Income tax is charged at graduated rates, with higher rates of income tax applying to higher bands of income. Tax is charged on total income (from all earned and investment sources) less certain deductions and allowances. The 0% starting rate is for savings income only. Domicile status is important because individuals who are domiciled outside the United Kingdom can elect to pay tax on overseas investment income, non-UK capital gains, and certain offshore earnings only to the extent that these are remitted to the United Kingdom. This is called the 'remittance basis' of taxation. Overseas income and gains not remitted to the United Kingdom will not be subject to UK tax.

Singapore taxes it’s taxpayers on progressive rates (after set off of personal allowances), when income is accrues in Singapore, whether or not the taxpayer is resident of Singapore. Income derived from sources outside Singapore is only taxable if it is received in Singapore by a resident individual through a partnership in Singapore. Resident individuals are entitled to certain personal allowances and are subject to graduated tax rates ranging from 0% to 22% (24% from year of assessment 2024). Non-resident individuals are not entitled to any personal allowances and are subject to tax at a flat rate of 22% (24% from year of assessment 2024.

Corporates

Over the past 40 years, corporate tax rates have consistently declined on a global basis. In 1980, the unweighted average worldwide statutory tax rate was 40.11 percent. Today, the average statutory rate stands at 23.54 percent.

The world-wide average income tax rate across 180 countries is 24%. There are 15 nations which do not have corporate tax being tax havens. These obtain their rankings based on the Corporate Tax Haven Index, which is a ranking of jurisdiction most complicit in helping multinational corporations underpay corporate income tax. The Corporate Tax Haven Index (CTHI) thoroughly evaluates each jurisdictions tax and financial systems to create a clear picture of the world’s greatest enablers of global corporate tax abuse, and to highlight the laws and policies that policymakers can amend to reduce their jurisdiction’s enabling of corporate tax abuse.

Here are the top 3 tax havens based on their CTHI

British Virgin Islands — 2,853

Cayman Islands — 2,653

Bermuda — 2,508

The UAE has declared that it would levy a corporation tax rate of 9%. The announcement comes as India, another major Asian economy, unveiled its union budget for 2022, which is likely to have an influence on businesses in the UAE.

This is one of the reasons that India is very good for business and is the fastest growing country, also 6th in growing international economy. The Indian government’s corporate tax cut is part of a series of steps taken by it, to tackle the slowdown in economic growth. This way the government hopes attract more investments in the country and help revive the domestic manufacturing sectors. In the amendments to the Finance Act, 2019 tax rate for new manufacturing set up after 1st October, 2019 and commencing operations by 31st March, 2023 had fallen from 29% to 17%.

          Minimum Alternate Tax

Minimum Alternate Tax (MAT) - the concept was introduced for companies and progressively it has been made applicable to all other taxpayers in the form of AMT (Alternate Minimum Tax).

Apart from India, AMT is applicable in the following countries and their tax rate and way of claiming AMT credit is explained hereunder:

Country

AMT Rate (MAT)

AMT credit (MAT)

United States of America

20% - abolished since 2017. Small business were exempted.

Transitional provisions allow for refund of 50% of the excess AMT credit

Argentina

AMT applicable @ 1% of value of specific corporate assets. – Abolished from 2019

AMT credit available against company's income tax liability for future 10 tax years.

Austria

AMT applicable @ 5% of a specified minimum share capital of those companies who are at a loss as per income tax provisions

AMT credit available against company's income tax liability in future tax years.

Italy

AMT applicable on "non-operating companies" on the book value of assets @ 1.5% on financial assets, 4.75% on real estate assets, and 12% on other assets.

Not applicable

South Korea

AMT applicable on income computed before applying tax credits or exemptions @ 10%, 12% or 17% based on income slabs. Lower rates applied for small and medium enterprises.

Not applicable

Presently, the Indian Government has kept MAT rate at 15% (excluding surcharge and cess). The companies making book profit can pay MAT at 15% in case that is higher than the Corporate Income tax rate under the old regime. India has corporate rate tax of 30% (for companies crossing turnover of Rs. 400 cr in FY 2019-20) else 25%. This rate must be compared with MAT rate and the highest of the tax should be paid. Whereas the new tax regime tax rate is 22%.

Let us see the corporate rate tax and selected provisions of the under mentioned nations:

Country

Normal Rate

Other information in the domestic law – Specifically provided

United States

21%

US-source income (e.g. interest, dividends, and royalties) not effectively connected with a non-US corporation’s business continues to be taxed on a gross basis at 30%.

New US federal tax called the ‘base erosion and anti-abuse tax' (BEAT) is targeted on US tax-base erosion by imposing an additional corporate tax liability on corporations.

BEAT is levied on (other than regulated investment companies [RICs], real estate investment trusts [REITs] that together with their affiliates, have average annual gross receipts for the 3 year period ending with the preceding tax year of at least USD 500 million and which make base-eroding payments to related foreign persons during the tax year.

United Kingdom

19%

UK follows a territorial tax system. Resident companies are taxable in the United Kingdom on their worldwide profits (subject to an opt-out for non-UK PEs)

UK Non-resident companies are subject to corporation tax on the trading profits attributable to a UK PE (permanent establishment).

Where the taxable profits can be attributed to the exploitation of patents, a lower tax of 10% applies. 

Special Corporate Tax regimes are available for companies into:

Oil and Gas

Life Insurance

Tonnage

Banking Sector

Real Estate Investment Trust (REIT)

Qualifying Asset Holding Company (QAHC)

France

25%

A resident company is subject to CIT in France on its French-sourced income. Hence, an income attributable to foreign business activity (if there is no treaty in force between France and the relevant foreign country) or to a foreign PE (if a tax treaty applies) is excluded from the French tax basis.

Reduced tax rates apply on capital gains. social contribution tax is due by any corporation at the rate of 0.16% assessed on the revenue excluding VAT and after deduction of a 19 million EUROs relief.

Singapore

17%

Companies (resident and non-resident) that carry on a business in Singapore are taxed on their Singapore-sourced income when it arises BUT the foreign-sourced income when it is remitted or deemed remitted to Singapore. 

A partial tax exemption and a three-year start-up tax exemption for qualifying start-up companies are available (not available on property development and investment companies).

China

25%

Lower corporate tax is available for

Qualified new/high tech enterprises at 15%

Encouraged designated key software enterprises and encouraged designated integrated circuits (IC) design enterprises at 10% after the first five years of CIT exemption

Qualified technology-advanced service enterprises at 15%.

Australia

30%

25% only to those companies that, together with certain 'connected' entities, fall below the aggregated turnover threshold of AUD 50 million.

Integrity measures also ensure that a company will not qualify for the reduced rate unless the specifically defined passive income (including, among other things, interest, rents, and net capital gains) that it derives represents not more than 80% of its total assessable income for the year. 

Germany

15%

A basic surcharge of 5.5% (solidarity surcharge) is levied

The trade tax rate is a combination of a uniform tax rate of 3.5% (base rate) and a municipal tax rate (Hebesatz) depending on where the PEs of the business are located.

Conclusion:

The Organization of Economic Corporation and Development (OECD) has announced that a global deal to ensure big companies pay a Global Minimum Tax (GMT) rate of 15% has been agreed by 136 countries (including India). Indian government has introduced a favorable tax regime for new manufacturing companies. The Taxation Laws (Amendment) Ordinance, 2019 for the newly incorporated company to pay tax at 15% (excluding surcharge and cess) to promote the new manufacturing start-ups. The maximum you need to pay is 17.16% (with mandatory surcharge of 10% and cess of 4%).

The company has been set up and registered on or after 1st October, 2019 and has commenced manufacturing on or before 31st March, 2024. A company that does not opt for the above concessional tax regime and avails any tax exemption/ incentive, shall continue to pay tax at pre-amended rates. However, the option of availing of the lower tax regime of 22% can be opted for after the expiry of tax during the holiday/ exemption period. Once the same has opted for it cannot be subsequently withdrawn by the taxpayer. MAT rate for companies availing exemptions/ incentives reduced from 18.5% to 15%.

This shows that the ease of doing business in India could be beneficial for the investors as India is an attractive destination for investments with it’s corporate tax rate is quiet competitive.

SOU - Statue of UNITY - A trip worth making time for

SOU is in Kevadia, after Baroda on your way to Mumbai. This means if you are in Mumbai, you must drive towards Baroda and take a right into Kevadia.

How to reach SOU?

1. Rent a car from Ahmedabad and reach Kevadia in 3.15 hours or from Mumbai in 5.5 hours

2. You need to park your car usually at Bharat Bhavan since one cannot take the car without permission, which is only available in Gandhinagar, possibly since it is the capital of the State or need special contacts (I do not know how that works).

3. You can hire e pink rickshaws (driven only by women) for 2 hours or 4 hours or 1 entire day. Rates are better compared to the time you lose in catching the free govt bus from Bharat Bhavan to main station. 

The main station is next to SOU premises and there are 6 to 8 stations that take you to locations like parks, jungle safari etc.

4. If you buy the ECO tourism ticket, you don't have to pay Rs. 50 (per pax) which takes the bus from the station to the parks, then you can just hope onto the bus for free!

5. Yes, you can travel by Vista dome too from Ahmedabad to Kavadia (Ekta Nagar) station and hire e ricks for entire day. (Simpler if you are going to manage all travels in and out of the city by TRAIN).

What to carry?

1. You cannot miss your sports shoes. 

2. Carry a jacket during winters as after 5 pm it gets cooler, and you will feel cold after full sundown.

3. Glares and caps/hats are a must since there is almost 10 to 15K steps to walk during each day

How many days?

2 nights are enough if you want to cover most of the special places and 3 nights to be easy and not tired till you get out.

What must you do?

Reach as early as you can and check in to tent city (Rs 25000 for 4 people for 1 night) or better stay at Ramada (near Bharat Bhavan) or the Fern (Rs. 11000 per night for 4 pax). 

Directly begin with gardens like Ekta Nursery, Cactus Garden and Butterfly. Entries close at 5.30 pm and you will be asked to leave from the gardens by 5.45 to 6 pm.

You go to the Sound and Light show inside SOU or if you cannot manage that, seeing light show from the main station is also worth seeing. Parallelly, you will hear sound and laser show at Sardar Sarovar Dam when you reach the Unity Glow Garden.

All the above you manage on day 1. Keep snacking and sipping AMUL chaas, milk, cold coffee during your internal commute. Places are far off from each other, possibly 3 to 4 kms minimum.

SOU - Buy a slot either 4 to 6 pm for day 2 and start with Jungle Safari and Valley of Flowers after breakfast. We had done slot of 8 to 10 am for SOU.

Slots mean that you have to be at the elevator (45 minutes walk from the main entrance) to the statue to go up his chest for Viewing gallery. Thereafter, you spend time inside the museum beneath the statue and go upto his feet using the escalators. It is an experience that you would have never seen such a marvel. You will also observe Sardar's shawl threads made up of the metal wonder.

This entire place is made with finesse and has been made to look like a foreign city. No wonder Make in India concept was the driving force and it took the GOVT and the companies 5 years to bring the best possible trip you can ever have.

You can eat at Sankalp at Ramada Inn, Subway or the food court inside SOU.

Memoirs of Memory

 Me, I, myself come in your way,

Conversations which must affect you are ignored in the day.

You only hear with a closed mind, 

Then you ask your friend after 10 years, why am I so behind?

The lack of focus due to lack of interest persists,

You just do not wish to listen even if someone insists.

Inspiration is not available for free,

You have to develop a habit, may be two or sometimes three.

Do not lead the decision with a judgemental mind,

Do not be hard on your self but be a little kind.

Develop observation skills, don't remain blind.

Be alert, breathe in the moment and that's the life you must find.

Create a secretary for yourself, delete the unnecessary,

Keep the creativity in the flow state,

Stop depending on some unknown fate.

Life is when the unplanned happens, the time is right when the wisdom awakens.

Love your memory no matter they hurt you,

It will play like a child if you have a good one and dance around you all day long, you have to let it be and let it enjoy its moment.

It will be sick and tired like the old man if you have a bad one, it will sleep, rest, get bored and irritated and confused most day, you have to energize it and let it become enthusiastic.

@DJwrites to remain close to ALMIGHTY.

10th Nov, 2022

Can we manufacture time?

 One of the meaning of TIME by Thesaurus is "Lastingness". Humans are either accustomed to spend the day with the activities coming their way, or planning their own schedule. Most of those who are trying to earn a living have to sway in between both of these. But, I feel that is more classy as long as you ate able to have a closure with things you need to act on.

If you live as planned, and if you live as per others plans, then you will become slave to time in the first place or else slave to the one planning for you. But the dynamics is in plan a little, sway a little and make sure you do finish whats on your plate.

There is a story we have all lived atleast once, I don't have the time. Some just say it as they are able to remain uninspired, and some others who really really are bogged up with responsibilities and endless projects.

In such scenarios, we must come together with those who you work with, with whom you live with and discuss what is the impact of your survival and conditions you live on your health and your mind. Specially your mind will try to reject and eliminate those events which actually make you happy, relaxed and calming. Let's say meditation or reading 1 page of a book a friend has been recommending you. This rejection is only coming out of a definition of your being, and that chanting Oh, I don't really have time is a myth that you are creating for a few more months.

These months will turn to years and then you will enter a phase called Regret. This will lead you to chain of health issues and that will only question your past. It's cyclical. This then you will call it Karma since you have no one else to blame.

Yes, there is a reality that we all experience. But the reality also have those moments where we can stop everything at any time of the day and possibly sing, dance, paint, meditate, go or a drive alone, shine and reflect or just journal. We are born intelligent. We have forgotten to use it for our own selves. We are constantly using that intelligence for others. 

Hence, the only way to manufacture time is to Pause, Halt for a few moments. Do not evaluate if there are waves of thoughts coming to your mind. Let them flow. Make a decision, this decision is to do something what you have been wanting. Do not evaluate. Do not judge. Do not wait for appreciations on social media, do not ask for anyone's confirmations. Do it.

Next, stop follow ups. Once you do not follow up, you free your energy. You only remain absorbed in what you need to do. So, we all wonder how will it result in success if we do not follow up with others? The answer is simple. For those who are sincere, will regardless deliver results and for those who are not you will have to catch hold of them; make them sit by you and DO IT YOURSELF (DIY)!

Rest all others, IGNORE!

This is the second way to manufacturing time. Then comes the question of Money. If I am to do what he is supposed to do, why should I be spending? You are spending to free yourself from the micro management, the nitty gritty, the data conversion to information, from communication with 10 others who are attached to that event/project.

And now, the most important. While you WORK DEEPLY (Read Deep Work - by Carl Newport once in this lifetime), you actually will stop time. You will realize that your hours turned to minutes and those are still ticking to seconds.

Above is tried and tested since a while.

Much love and luck

Author.

I want to be a child

I wish the little child in me always stayed,
Seeing the sun she went out and with the flowers played..
She admired the little doggies, the little kittens on the road,
When she saw her mummy come pick up after school, her smile went broad.

Emotions except motherly and fatherly love was not known,
Laughter was so innocent without any second thought...(not that I think now to laugh)...
Looking out of the speeding car was amazing...
When I sat in the airplane, I found it so stunning...

Today, when I scan back the past,
I realized there were so many awesome things I alone did and they were vast.
I was secluded and I was not known,
But when I was known, I had to buy a phone!

The child in me drifted to a teen,
I still love watching Rowan Atkinson's Mr. Bean!(argh....)
I made more friends dearer and closer,
I cant think any day better that those fun tossers...

Love being a child and shall remain one,
Like the coal mines in which diamonds have shun hehehe

Kudos children...HAPPY CHILDREN'S DAY!!!

How to find happiness during a pandemic?

Since November, 2019 till date the apprehensions kept on rising for us in the city and the world over. One country having the highest population in the world and it's ego not to follow protocols and with so much arrogance screwed the entire world and got us to confinement.

We have been living in a state of shock, irritability and uncertainty since a very long time. Now, we know what it feels like being an animal in a zoo or a circus. You are fed whatever is available for you, you can only roam in limited space.

Space affects mental state. And the question arises then how to sages and enlightened beings have a statement of freedom and contentment when they are meditating most part of the year in the same place and that too most often in the same position. 

Why can't we be free mentally? Why can't we find that inner joy?

Is that when we are tolerating the circumstances and the people around us who are actually our family and friends who are our inner circle, we call ourselves happy? Then how do you manage the uproar?

And this blog is about my experience which has been silently growing like a bush. A bush because it has grown in different spheres since the last lockdown 2020.

When you want to find happiness in any location, you need to accept the challenge in the situation and believe that this shall too pass. Yes, brains are now wired to keep seeing negativity all around you, but that is only to keep you safe. But humans being social animals cannot live without each other for too long and noone is expecting the world to be without us. So the vaccine will surely grow better all the time. The scientists will not stop. Even they like to be the sepoys in this war of pandemic.

Now since you know that change is evident, you will find out which habits will help you to be different. What will bring you joy, and what will keep you comfortable in your own skin.

It could be even simple things like pencil colouring a drawing book, singing along with a live song, watching a movie with family and being lost in the fictional world, making a spicey sandwich, ordering a dessert for yourself, taking a stroll with your favourite music, whatsapping and chatting with your own family members, chanting and repeating a mantra, talking to your pet, writing a blog, thinking to write a book and planning to print to pdf and sharing with friends, learning a clas online and even just talking to a friend for a bit on daily basis.

Find the habit after you have known that change is necessary.

Many fear change and it's fine. So why do you need change? Because had the change not been evident, ELON MUSK would not have inspired us to think of traveling to another planet or reaching the moon in a space elevator. 

Make it personal

Know happiness is required

Don't have regrets

Have your own world in this world.

///

Fitness to Freedom

Usually, when people put on a lot of weight, they get into an activity which helps them reduce weight. That activity could become their passion, an unseen dream or simply a daily routine due to habits formed.

My idea of Fitness however little I have known and experienced over past 2.5 years is a lot different. Here is my blog to talk about it and also go gaga about it!

It was early September, 2017 when I just knew if I never acted upon my body shape, it could just blot a way too lot to allow me to fit into any clothes, have a pot belly for years and it could just make me look someone I did not want to see in me. I saw myself looking pretty ugly in the 2 full sized mirrors on my wardrobe each morning, each evening after work.

I remember, Mr. Jilani Shaikh - some sort of fitness trainer who was friends with my then tennis coach (I barely managed playing as a beginner after June 2017 as work kept me busy with tax seasons and new events), who used to train Govind, an acquaintance and tennis player at CCI club. 

I decided to see him one morning at 9 am at Wodehouse Gymkhana, he greeted me well. She smiled at me and gave me the form to fill and join Tuesday and Thursdays at 730 am. I knew some big change is about to happen. I was also in a duality of the mind as to how will I manage this. I live at Malabar Hill and work at Fort. To wake up at 6ish, reach for the workout, shower the Gymkhana and carry tonnes of baggage, reach office at 10 am…oh my god. That worried me up!

1^st Day at workout, I managed to reach in time. I showered in a not so equipped Wodehouse Gymkhana. I reached work. At work, I could feel my muscles jamming and slowly and steady as the week passed by I saw two changes.

I would feel my muscles tensing up but could realize something inside me is changing. Could never explain what and how. I started getting comfortable with now Jilani Sir, a coach one must have for one life! His way and abilities to shape your day through his class is silent and like that of a meditation teacher. Let me come back to him as we progress.

I started changing at CCI, I left my bags at the reception for my father to pick it or left the car at the club but ensured a good breakfast would reach satisfy my hunger pangs. Most times, I would walk from club to office and eat the breakfast sent by mom. I was more keen on that, as it saved immense time. I would be at work at times till 10.20 (1.5 hours after a good workout), crunching and waiting for my ghar ka khana. That allowed me to learn to be patient. Usually I am cranky without food. But I could sense myself OK.

As the time passed by and as I registered myself for ACCA last attempt to be given in March 2018, I started to know I had lots to do with guitar class as well. Work was no less. Kept me engrossed, but focus was diluting though hard work and commitment for anything never diminished. I could not see a guide to mentor me. I only picked up what to focus on depending on the time and need of the hour. But, today I know what I need to do and what to ignore for the best of me to be able to be best I can, leaving myself to unlearn and relearn always.

So the training was sailing through, I could run better than an aunty I used to run like. I could feel energy and was able to see myself stronger enough than before. Well, this was the beginning.

The middle was not dreampt of. 28^th Feb 2018, an amazing trip after Bali just finished a month back, ACCA exams were 7 days around the corner and boom that morning I woke up with a jolt and severe upper torso pain. I had frozen. I had ignored my cervical pains for 12 days and popped in anti biotics without showing a doctor and only consulting on the phone. I should have gone to a physical therapist or for diagnosis. I thought it was some random nerve pull. Well no it was an attack of acute cervical spondylitis, it was because I was reading my neck down deep in the books, stress of upcoming Professional Exams, fear of failing, and long sitting posture at work and home study desk.

I wasn’t exercising since 20 days or more. The muscles had become tight. I just had left my training in the middle after and just a few days before Bali. 1 month the body could have been in shock. It died in the torso. The nerve pulled from the tip of my nail to the traps and into the shoulder blades and UFF, Ouch and God I can die were those feelings of the pain.  

I thought to myself, am I getting some attack of paralysis, or would I need a surgery. I rushed to Jilani sir by texting at 5 am. Mom put me socks and shoes. I was in terrible condition where I could not even move an inch. I reached Wodehouse with dad, jumping in the car and just had one word Ouch Ouch as much as the breaks were pressed. I don’t wish to reimagine that.

Sir, knew I was locked and asked me to roll ball on the muscle. I felt some relief for few seconds and again the pain came together and my face became colourless. Sir, saw me, tears rolled down as I saw him, I could not take that pain. I called my old Physical Therapist Mrs. Rupa Mehta who I went to in 2012 for spinal spondylitis and she was referred to me for core strengthening. I knew I would get an answer.

Thankfully, she took me at 9 am into her clinic and her junior Ms. Saloni Parikh (Doctor) diagnosed me. She was clear what it was but said you will give the exam. I knew I was normal and no surgery was required. Uff, while crossing the road to reach the doctor, I felt a car would hit me. Dad was also in shock to realize I could not turn left and right to cross the road rightly.

Nevertheless, I cried buckets for 3 days and studied too. I would exercise as per routine of the doctor each 15 minutes, the basic chin tucks. I had to lift myself up from the bed with a towel around the neck. Mom nursed me like GOD. I could not eat, brush my hair, pullover the bedsheet, bend down to turn the room lights on or off….basics had to be done by mom. I ensured I was best not to trouble her. She even fed me as for the first 2 days I could not take my neck forward, touch my phone and not even touch food.

The nerves were killing me. I felt 10 knives cutting through my shoulder blade. This thought gives me shivers and it makes me do my ore strengthening exercises even TODAY daily!

I failed the exams, mom was worried and I knew I would be in pain. The 7 days revision time was spoilt and I could not achieve even 50%. Or marks that I could achieve how much ever I knew ACCA needed.

I consulted my friend Dr. Siddharth Shah – a fantastic Orthopedic Surgeon in Mumbai. He was so sweet not to charge his fees too. He told me to stop going for fitness, drive not too much and wrote me a prescription. Jilani sir was in touch with me throughout this phase.

I wore the cervical belt to work. It used to suffocate me. I could not take it. I had ointments, sprays and medicines. I did not like this. I felt I was carrying a clinic with me. I knew I had to STOP this. Then the magic! I found on a recommendation by my school friend Dr. Ishani, Dr. Manoj – Osteopath. He is a living Magic! I was looking for an osteopath and happened to speak to Ishani one day and she said try going to him, you may feel relief in one sitting.

That day was so good. My heart expanded and in 5 sittings he informed me that I was alright.

The pain from mid Feb stopped somewhere in June. This was really a long time.

I had gained more weight, my tempo of workout instead of increasing had fallen to 0 again. But I never lost courage. My family never allows me to lose it. It is Guru’s grace. My brother Raman was very supportive at work and for ACCA. He told me to take early leave from office and focus on health. I felt sorry, but I had no choice as June attempt was really critical.

As soon as the June attempt finished, despite Manoj sir asking me not to go for weight lifts and trainings, I resumed with JS fitness (Jilani sir). I kept the neck high and he ensured I do not life weights or crunch. I could only do exercises that do not keep my neck bent or strain my neck forward or lean me forward.

Dr. Saloni was visited a few times to taken needles and physical therapy as the weight was coming on my back. Also, she was closer and quicker than reaching Manoj sir. I liked to be with both of them. They were caring. And that’s what we need in any professional.

Wall Pushs, rowing, running, skipping, tyre up and down added to my stamina. I used to see different coaching to different students and told myself that I also want to do this. I never set a time line, went with the flow. Did not want to shock the body. Jilani sir was caring and so protective that he wouldn’t allow me to lift even an extra kilo. He was around watching me and his sight is that of a kite. He can bring spotless perfection in you when it comes to workout.

I was serious. I failed ACCA. I cried buckets. My heart shattered. I couldn’t take that. I was not prepared for more studies and strain on the neck due to sitting with upcoming September audits.

I felt what if I would drop out!!! Parents and my best friend Noel and Harshit came to my rescue. They handled my childish questions and they knew I still would appear for exams. Neha Chopra my old friend while talking after long on the phone, happened to tell me – IF INTERNATIONAL TAX IS YOUR PASSION, WHY WOULD YOU GO FOR ANY OTHER SUBJECT?

That conversation which happened without any reason but for a reason tickled me. I stretched my mind to think. Pondered to see if I could find the write Country for International Tax. BCAS friends helped! Their references did. Specially Mr. Rashmin Sanghvi’s friend Mrs. Patel in UK was so kind that I never turned back.

Then, the selection was made. UK tax for ACCA – Goal was to PASS and for that I surely needed a teacher. I did not want to do it alone. I called my old referred friend through Harshit – Shriram. He referred me to Pratham Barot – a topper of Int tax at ACCA running his own class. I was tutored by his colleague Vidhi Shah.

Meanwhile, I continued with my training at fitness, new Harmonium and vocals and forgot the guitar. I could not manage everything. All I knew I had to crack ACCA. It was December 2018 and I had stopped fried, sweets and rice since a month. I did not know what was it to lose weight. Some inches of the belly did not shrink though the glutes and thighs trimmed.

Brinda – a new friend at workout told me STOP Sugar, she hasn’t had it for 12 YEARS!!! I did not want to eat bitter. She suggested Stevia. That new taste made me stop tea and coffee. I only had black coffee. It helped me to stay up for weekend classes, mornings for workout and vocals and ofcourse at work. I would also remain up studying daily as I had to study and revise everything that was taught at the weekend class by Vidhi.

All this was making me fit internally. The freedom of the body was transpiring. But the mind was in it’s own trip. It was emotional, tensed, worried and anxious with so many activities. I never realized that. I would get irritated but never had the time to sit and ponder. Really no TIME!!!

It took me 4 months from Feb 2019 to May 2019 to lose 7 kilos, totallying to 10 kilos. I was 65 on the weighing scale. I felt so GOOD. I had cleared ACCA by then. Then came the Road trip to Switzerland. I felt the energy in my body. I could drive long routes and pay attention to the minutest details. I could focus on what was next.

The years 2017 to 2019 were eventful. A lot was happening on daily basis. From dad’s retirement, to ACCA, from new investment to handling people at work, from writing, planning at BCAS to participating. It was a Great experience. I learn a HELL LOT!

An element of successful completion the year was Fitness. It gives you focus. A zeal to reach to the zenith. Nothing really is enough. No workout is tough, no work is tough, nothing is impossible, no pain is constant, no event fearful, no time is against you SO LONG AS YOUR MIND IS WITH YOU.

Fitness training has become a part of me. It has given me a purpose. My dad is stronger than 10 youths added to one piece at 73!!! The diet is very important. If you do not treat the body as holy device you are going to crack it up any time sooner. Fried, sweets and sugar are poison!

You can add them to your body and ensure you remove them before they turn into toxics. I will call it fat. One is not fat with the body, but people’s attitude is FAT. It is so fat that nothing really can get it and nothing really can get out.

Fitness changes that. It changes you and things around you. It makes you survive the whole day with pumping energy. Sure, you do need good sleep but without one you can still fight the day. You feel better. You feel a drive for the things that you really want to do. You become errorfree and careful.

You are tolerant with your self and that reflects in your performance, your speech, you ability to manage people. Jilani sir – a coach who stands on his feet more than 9 hours on his feet, is awake from 6 am to 11 pm is one of the finest persons and teachers I could ever find.

He is magic like Saloni maam, Manoj sir, Siddharth & my friends Rachit, Harshit, Noel and Shriram were. Ofcourse, my Parents were the fuel to my fire, they let it burn. They have their own issues but it never comes in my way for workouts, food and education and learning. They have a simple theory, spend money to eat and learn. Spend money on things you need. I like that concept and it is practical. They never complaint and their support is too much to ask for!

Fitness sets you free. It sets you on the tracks that lead to your small milestones that you wish to achieve step by step. Calling it addictive is too negative. I would call it breathing, a way of life, the way it should be, a tool to focus and set your body to be able to physically shift you where your mind needs to be.