Core concepts
- 01Digital transformation: cloud, AI/ML, blockchain, RPA — impact on accounting, audit, tax.
- 02Crypto / VDA taxation (Sec 115BBH) — 30% flat + 1% TDS on transfer.
- 03ESG reporting — BRSR (mandatory) + voluntary GRI/SASB frameworks.
- 04GIFT City (IFSC) — special regime for international financial services.
- 05Pillar 2 (BEPS 2.0) — Global Minimum Tax 15%; QDMTT in India under consideration.
Flowchart summary
Emerging Areas | Digital --> AI in audit, RPA in accounting, blockchain ledgers | Sustainability --> BRSR Core, climate-related disclosures | GIFT City --> IFSC tax holiday, AIF/banking units | Pillar 2 --> 15% Global Min Tax + Top-up
Exam-critical pointers
- ⭐VDA loss cannot be set off against other income or carried forward.
- ⭐BRSR Core assurance scope expanding annually — significant new business line for firms.
- ⭐GIFT City IFSC: bank, insurance, capital markets, fund management all under unified IFSCA.
- ⭐Pillar 2 — applies to MNEs with consolidated revenue ≥ €750 mn in 2 of last 4 years.
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