Editorial December 2025
Dear Readers,
During the month of December 2025 our CEO Mr. Raghu Marwah participated at the GGI Asian Conference in Bangkok where he gave two presentations, one on ‘Gift City Based Alternative Investment Fund: Advantages’ and the other on ‘GST 2.0: India’s Next Tax Revolution’ as part of the International Tax Practice Group. The conference was held at the Peninsula Hotel and was a wonderful platform to learn more about latest European Data Protection laws, Inbound Taxation in Australia, Hong Kong Family office regime and Reinvestment Tax credit in China.
At RNM Capital Trust, we are pleased to welcome Mr. Abhishek Dubey as the Principal Officer at our Gift City office. Abhishek comes with 6 years of rich experience with a leading brokerage firm based in Ahmedabad.
RNM India would be participating with a Stall at the WOFA 2.0 organized by the ICAI at India Expo Centre, Greater Noida from January 30 to Feb 1 and we look forward to meeting as many of you there as possible. It would be a great forum to showcase the capabilities of the Indian accounting profession to a worldwide audience which is looking at not only outsourcing their tax and accounting services to India but also setting up Global Capability Centre’s (GCCs) in India. RNM India is as part of its consulting division, now also providing GCC as a Service at RNM Tower, New Delhi. Our capabilities as a licensed Alternative Investment Fund category 3 would also be of interest to international investors attending WOFA 2.0.
On the Direct Tax front, the Hon’ble Supreme Court of India has settled a long standing dispute in the case of allowability of non-compete fee. It has set aside an earlier Delhi High Court judgement, holding that such expense should be classified as a revenue expense irrespective of the fact whether it gives the payer an ‘enduring advantage’.
On the Assurance front, the ICAI has issued a research report on “Accounting for Digital Assets”. The Research report clarifies that digital assets are not legal tender in India and do not qualify as cash or cash equivalents. Accounting treatment depends upon the nature of holding, business model, and rights attached to the digital assets.
We would like to take this opportunity of wishing all our readers all the best for the New Year ahead. 2026 brings new hope for peace prosperity and strengthening old bonds.