Portfolio manager (PMS) compliance — SEBI guides
Guides by CA Anuj Desai for SEBI-registered portfolio managers — the SEBI (Portfolio Managers) Regulations, 2020 and master circular, net worth and principal officer requirements, client agreements and fees, reporting, accredited investors and the PMS audit.
- GST on Fund Administration and Back-Office Services for AIFs and PMS
GST guide for fund administration and back-office services for AIFs and PMS. Learn about the 18% GST rate, ITC eligibility, and compliance for fund accounting, NAV calculation, and investor servicing.
CA Anuj Desai · 15 Sept 2026
- GST Treatment of Pass-Through and Reimbursed Expenses for AIFs and PMS
Understand GST treatment of pass-through and reimbursed expenses for AIFs and PMS. Learn about the pure agent concept under Rule 33, taxable vs non-taxable reimbursements, and ITC implications.
CA Anuj Desai · 15 Sept 2026
- GST Compliance Calendar for SEBI-Registered Intermediaries: AIF, PMS, RA and Stock Brokers
Complete GST compliance calendar for SEBI-registered intermediaries including AIFs, PMS, Research Analysts, and Stock Brokers. Monthly, quarterly, and annual due dates.
CA Anuj Desai · 15 Sept 2026
- GST Audit for AIFs, PMS and Stock Brokers: Sector-Specific Focus Areas
GST audit focus areas for AIFs, PMS, and stock brokers. Learn about Rule 38 ITC, export of services, RCM compliance, and sector-specific audit triggers.
CA Anuj Desai · 15 Sept 2026
- Advance Ruling for AIF, PMS and Fund Structures: Strategic Use Cases
Strategic use cases of advance ruling for AIF, PMS, and fund structures. Learn how to obtain certainty on carried interest, management fees, and export issues.
CA Anuj Desai · 15 Sept 2026
- GST Advisory Services for AIFs, PMS and SEBI-Registered Intermediaries
GST advisory services for AIFs, PMS, and SEBI-registered intermediaries explained. Learn about fund management fees, carried interest, and GIFT City structuring.
CA Anuj Desai · 15 Sept 2026
- GST Compliance Services for Portfolio Managers (PMS)
GST compliance services for Portfolio Managers (PMS) explained. Learn about fee structuring, ITC optimisation, and SEBI-registered intermediary compliance.
CA Anuj Desai · 15 Sept 2026
- GST Health Check for AIF and PMS Fee Structures Before an Audit
GST health check for AIF and PMS fee structures before an audit. Learn how a CA firm reviews fee structures, ITC, RCM, and documentation.
CA Anuj Desai · 15 Sept 2026
- Research Analyst vs Portfolio Manager (PMS) – Which One Suits Your Business?
A comprehensive comparison between Research Analysts and Portfolio Managers, helping professionals understand the distinct roles, regulatory frameworks, and business models to determine which registration suits their practice.
CA Anuj Desai · 25 Jul 2026
- How to Register as a Portfolio Manager in India — Step-by-Step SEBI Process (2026)
A step-by-step guide to the SEBI Portfolio Manager registration process, covering eligibility, Form A submission, fees, and timelines.
CA Anuj Desai · 25 Jul 2026
- Net Worth Requirement for Portfolio Managers — ₹5 Crore Threshold Explained
A detailed explanation of the ₹5 crore net worth requirement for Portfolio Managers, including calculation methodology, compliance obligations, and consequences of non-compliance.
CA Anuj Desai · 25 Jul 2026
- Principal Officer for Portfolio Managers — Eligibility, NISM Certification & Responsibilities
A comprehensive guide to the eligibility criteria, NISM certification requirements, and responsibilities of the Principal Officer for Portfolio Managers under SEBI regulations.
CA Anuj Desai · 25 Jul 2026
- Compliance Officer Requirements for Portfolio Managers — ICAI/ICSI/ICMAI Route
A detailed guide to the Compliance Officer requirements for Portfolio Managers, including eligibility through ICAI, ICSI, and ICMAI routes, and key responsibilities.
CA Anuj Desai · 25 Jul 2026
- Individual vs Corporate Structure for a Portfolio Manager — Which SEBI Allows and Why
An analysis of why SEBI requires Portfolio Managers to be body corporates, and the implications for individuals and other structures seeking to provide PMS.
CA Anuj Desai · 25 Jul 2026
- Change in Control for Portfolio Managers — Prior Approval Process
A comprehensive guide to the prior approval process for change in control of Portfolio Managers, including online application, timelines, and client communication requirements.
CA Anuj Desai · 25 Jul 2026
- Can a Stock Broker or RA Also Register as a Portfolio Manager? — Dual Registration Rules
An analysis of whether stock brokers and Research Analysts can also register as Portfolio Managers, including dual registration rules and compliance considerations.
CA Anuj Desai · 25 Jul 2026
- Can an Investment Adviser Also Manage a PMS? — Arms-Length Structuring Requirement
A detailed analysis of whether Investment Advisers can also manage a PMS, with a focus on the arms-length structuring requirement and segregation of activities.
CA Anuj Desai · 25 Jul 2026
- PMS Registration Fee, Renewal Fee and Application Fee — Complete Fee Structure
A complete breakdown of the fee structure for Portfolio Manager registration, including application fees, registration fees, and renewal fees under SEBI regulations.
CA Anuj Desai · 25 Jul 2026
- Regulatory Sandbox for Portfolio Managers — When and How It Applies
An analysis of the regulatory sandbox framework for Portfolio Managers, including eligibility, application process, and exemptions available for testing new products and services.
CA Anuj Desai · 25 Jul 2026
- Minimum Investment Threshold for PMS — The ₹50 Lakh Rule and What Counts Toward It
A comprehensive guide to the ₹50 lakh minimum investment threshold for PMS, including what counts toward the limit, exceptions, and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- KYC Requirements for PMS Clients — Onboarding Standards Explained
A comprehensive guide to KYC requirements for PMS clients, including onboarding standards, documentation, and compliance obligations for Portfolio Managers.
CA Anuj Desai · 25 Jul 2026
- Central KYC Registry (CKYCR) for PMS Clients — How It Works
A detailed guide to the Central KYC Registry (CKYCR) for PMS clients, explaining its purpose, functioning, and compliance requirements for Portfolio Managers.
CA Anuj Desai · 25 Jul 2026
- Portfolio Management Agreement — What SEBI Mandates in Every Client Contract
A comprehensive guide to the Portfolio Management Agreement mandated by SEBI, covering all mandatory contents, clauses, and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Disclosure Document for Portfolio Managers — Contents and Annual Update Requirement
A comprehensive guide to the Disclosure Document for Portfolio Managers, including contents, the static-dynamic structure, and annual update requirements.
CA Anuj Desai · 25 Jul 2026
- Most Important Terms and Conditions (MITC) for PMS — The Mandatory Disclosure Checklist
A comprehensive guide to the Most Important Terms and Conditions (MITC) document for PMS, including mandatory disclosures, timeline, and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Risk Profiling for PMS Clients — What SEBI Requires Beyond a Questionnaire
A comprehensive guide to risk profiling requirements for PMS clients, explaining what SEBI requires beyond a simple questionnaire and how to implement effective risk assessment.
CA Anuj Desai · 25 Jul 2026
- Direct Onboarding vs Distributor-Led Onboarding for PMS — Compliance Differences
A comprehensive comparison of direct onboarding and distributor-led onboarding for PMS, including compliance requirements, fee structures, and regulatory obligations.
CA Anuj Desai · 25 Jul 2026
- Discretionary vs Non-Discretionary vs Advisory PMS — Regulatory Treatment Compared
A comprehensive comparison of discretionary, non-discretionary, and advisory PMS, including regulatory treatment, compliance requirements, and key differences.
CA Anuj Desai · 25 Jul 2026
- PMS Onboarding for NRI Clients — What Changes When the Client Isn't Resident
A comprehensive guide to PMS onboarding for NRI clients, covering changes in KYC requirements, investment routes, and compliance obligations.
CA Anuj Desai · 25 Jul 2026
- PMS Fee Structures Explained — Fixed Fee vs Profit-Sharing Models
A comprehensive guide to PMS fee structures under SEBI regulations, covering fixed fees, performance-based fees, and hybrid models with compliance requirements.
CA Anuj Desai · 25 Jul 2026
- High Water Mark in PMS — Why It Exists and How It Protects Investors
A detailed explanation of the high water mark principle in PMS, why SEBI mandates it, and how it protects investors from paying performance fees on losses.
CA Anuj Desai · 25 Jul 2026
- Hurdle Rate and Catch-Up in PMS Performance Fees — How the Math Actually Works
A detailed mathematical explanation of hurdle rates and catch-up provisions in PMS performance fees, including how the math actually works and regulatory considerations.
CA Anuj Desai · 25 Jul 2026
- PMS Exit Load and Early Redemption Charges — What's Permitted
A comprehensive guide to exit load and early redemption charges in PMS, including what SEBI permits, the graduated structure, and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Upfront Fee Prohibition for Portfolio Managers — What Changed and Why
A detailed analysis of the upfront fee prohibition for Portfolio Managers, explaining what changed, why SEBI introduced this restriction, and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Fee Disclosure Obligations for Portfolio Managers — SEBI's Standard Format
A comprehensive guide to fee disclosure obligations for Portfolio Managers under SEBI's standard format, including annexure requirements, illustrations, and compliance timelines.
CA Anuj Desai · 25 Jul 2026
- UPI and Digital Fee Collection for PMS — Payment Mode Requirements
A comprehensive guide to UPI and digital fee collection requirements for Portfolio Managers, including mandatory UPI IDs, CeFCoM platform, and compliance timelines.
CA Anuj Desai · 25 Jul 2026
- Brokerage vs Advisory Fee vs PMS Fee — Why the Distinction Matters for Clients
A detailed analysis of the distinction between brokerage, advisory fee, and PMS fee, explaining why this distinction matters for clients and regulatory compliance.
CA Anuj Desai · 25 Jul 2026
- GST Treatment of PMS Fees — What Portfolio Managers Must Charge and Report
A comprehensive guide to GST treatment of PMS fees, including charging requirements, reporting obligations, and recent regulatory changes.
CA Anuj Desai · 25 Jul 2026
- Client-Level Segregation of Securities in PMS — The Demat-in-Client-Name Model
A comprehensive guide to client-level segregation of securities in PMS, explaining the demat-in-client-name model and its regulatory rationale.
CA Anuj Desai · 25 Jul 2026
- Custodian's Role in PMS — Functions, SEBI Requirements & Comparison with AIF Custody
A comprehensive guide to the custodian's role in PMS, including functions, SEBI requirements, and comparison with AIF custody arrangements.
CA Anuj Desai · 25 Jul 2026
- Why PMS Securities Are Held in the Client's Own Demat Account — Regulatory Rationale
A detailed explanation of why SEBI requires PMS securities to be held in the client's own demat account and the regulatory rationale behind this requirement.
CA Anuj Desai · 25 Jul 2026
- Power of Attorney in PMS — What It Can and Cannot Authorise
A comprehensive guide to Power of Attorney in PMS, explaining what it can and cannot authorise under SEBI regulations.
CA Anuj Desai · 25 Jul 2026
- Model Portfolio in PMS — Definition, Risk Disclosures & Audit Requirements
A comprehensive guide to model portfolios in PMS, including definition, risk disclosures, and audit requirements under SEBI regulations.
CA Anuj Desai · 25 Jul 2026
- Investment Approach Disclosure — What Every Portfolio Manager Must Specify Upfront
A comprehensive guide to investment approach disclosure requirements for Portfolio Managers, including what must be specified upfront and compliance obligations.
CA Anuj Desai · 25 Jul 2026
- Related Party Transactions in PMS — Disclosure and Governance Requirements
A comprehensive guide to related party transactions in PMS, including disclosure requirements, governance obligations, and investment limits.
CA Anuj Desai · 25 Jul 2026
- Leverage and Borrowing Limits for Portfolio Managers — What SEBI Permits
A comprehensive guide to leverage and borrowing limits for Portfolio Managers, explaining what SEBI permits and prohibits.
CA Anuj Desai · 25 Jul 2026
- Co-Mingling Prohibition — Why Client Funds Cannot Be Pooled in PMS
A detailed explanation of why client funds cannot be pooled in PMS, including the regulatory prohibition and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Multi-Asset and Fixed Income PMS Strategies — Structuring Considerations
A comprehensive guide to structuring multi-asset and fixed income PMS strategies, including regulatory classification, disclosure requirements, and compliance considerations.
CA Anuj Desai · 25 Jul 2026
- Portfolio Rebalancing Frequency and Communication — What Clients Must Be Told
A comprehensive guide to portfolio rebalancing frequency and communication requirements for Portfolio Managers, including what clients must be told.
CA Anuj Desai · 25 Jul 2026
- Conflict of Interest Guidelines for Portfolio Managers and Associated Persons
A comprehensive guide to conflict of interest guidelines for Portfolio Managers and associated persons, including avoidance, disclosure, and management requirements.
CA Anuj Desai · 25 Jul 2026
- TWRR (Time-Weighted Rate of Return) in PMS — Why SEBI Mandates This Method
A comprehensive guide to Time-Weighted Rate of Return (TWRR) in PMS, explaining why SEBI mandates this method, how it works, and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Benchmarking Requirements for PMS — How the Right Benchmark Is Chosen
A comprehensive guide to benchmarking requirements for Portfolio Managers, explaining how the right benchmark is chosen and the regulatory framework.
CA Anuj Desai · 25 Jul 2026
- Monthly and Periodic Reporting to PMS Clients — What Must Be Included
A comprehensive guide to monthly and periodic reporting requirements for Portfolio Managers, covering what must be included in client reports and regulatory filings.
CA Anuj Desai · 25 Jul 2026
- Performance Reporting to APMI/SEBI — Half-Yearly Filing Requirements
A comprehensive guide to performance reporting requirements to APMI and SEBI, including half-yearly filing, monthly submissions, and audit obligations.
CA Anuj Desai · 25 Jul 2026
- PMS Performance Disclosure on Websites — What Portfolio Managers Can and Cannot Claim
A comprehensive guide to what Portfolio Managers can and cannot claim on their websites regarding performance, including recent SEBI directives and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Past Performance Verification for PMS — The PaRRVA Framework Applied to Portfolio Managers
A comprehensive guide to the PaRRVA framework for past performance verification and how it applies to Portfolio Managers, including enrolment deadlines and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Common Errors in PMS Performance Reporting — What Auditors Flag Most
A comprehensive guide to common errors in PMS performance reporting that auditors flag most frequently, helping portfolio managers avoid compliance pitfalls.
CA Anuj Desai · 25 Jul 2026
- Advertisement Code for Portfolio Managers — What You Can and Cannot Say in Marketing
A comprehensive guide to the Advertisement Code for Portfolio Managers, explaining what you can and cannot say in marketing materials.
CA Anuj Desai · 25 Jul 2026
- No Assured Returns in PMS Marketing — The Prohibition on Guarantees
A comprehensive guide to the prohibition on assured returns in PMS marketing, explaining why guarantees are prohibited and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Brand Name vs SEBI-Registered Name for PMS — The Website Display Rule
A comprehensive guide to the website display requirements for Portfolio Managers, explaining the brand name vs SEBI-registered name rules.
CA Anuj Desai · 25 Jul 2026
- Client Acquisition for Portfolio Managers — What's Compliant Under Solicitation Rules
A comprehensive guide to client acquisition for Portfolio Managers, explaining what is compliant under SEBI solicitation rules.
CA Anuj Desai · 25 Jul 2026
- Can a Portfolio Manager Use Social Media to Build Their Practice? — A Compliance-Safe Framework
A comprehensive guide to using social media for portfolio management practice, including a compliance-safe framework and regulatory requirements.
CA Anuj Desai · 25 Jul 2026
- The "Finfluencer" Restriction for PMS — Why You Must Be Careful Who You Associate With
A comprehensive guide to the finfluencer restriction for Portfolio Managers, explaining why you must be careful who you associate with.
CA Anuj Desai · 25 Jul 2026
- Building Content Marketing for a SEBI-Regulated PMS Practice — What's Actually Permitted
A comprehensive guide to building content marketing for a SEBI-regulated PMS practice, explaining what is actually permitted and how to stay compliant.
CA Anuj Desai · 25 Jul 2026
- Investor Charter for Portfolio Managers — What Every Client Is Entitled to Expect
A comprehensive guide to the Investor Charter for Portfolio Managers, explaining what every client is entitled to expect and how to display it.
CA Anuj Desai · 25 Jul 2026
- How to File a Complaint Against a Portfolio Manager — Complete Guide for Clients
A complete guide for clients on how to file a complaint against a Portfolio Manager, covering internal redressal, SCORES, and ODR mechanisms.
CA Anuj Desai · 25 Jul 2026
- SCORES 2.0 for PMS Complaints — The Two-Level Review Process Explained
A comprehensive guide to SCORES 2.0 for PMS complaints, explaining the two-level review process and how it works.
CA Anuj Desai · 25 Jul 2026
- Online Dispute Resolution (ODR) for PMS-Client Disputes — Conciliation to Arbitration
A comprehensive guide to Online Dispute Resolution (ODR) for PMS-client disputes, covering conciliation, arbitration, and the SMARTODR platform.
CA Anuj Desai · 25 Jul 2026
- Grievance Redressal Timelines for Portfolio Managers — The 21-Day Mandate
A comprehensive guide to grievance redressal timelines for Portfolio Managers, explaining the 21-day mandate and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Complaint Data Disclosure — Monthly Website Publication Format for PMS
A comprehensive guide to complaint data disclosure requirements for Portfolio Managers, including the monthly website publication format and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Periodic Reporting for Portfolio Managers — Half-Yearly Filing Requirements to SEBI
A comprehensive guide to half-yearly filing requirements for Portfolio Managers, covering report contents, submission deadlines, and compliance obligations.
CA Anuj Desai · 25 Jul 2026
- Annual Compliance Audit for Portfolio Managers — Who Can Conduct It (ICAI/ICSI/ICMAI)
A comprehensive guide to who can conduct annual compliance audits for Portfolio Managers, covering ICAI, ICSI, and ICMAI eligibility.
CA Anuj Desai · 25 Jul 2026
- Annual Compliance Audit for PMS — Timeline and Submission Deadlines
A comprehensive guide to annual compliance audit timelines and submission deadlines for Portfolio Managers, covering completion requirements and filing obligations.
CA Anuj Desai · 25 Jul 2026
- Client-Level Segregation Certificate — Annual Certification Requirement for PMS
A comprehensive guide to the annual client-level segregation certificate requirement for Portfolio Managers, covering certification obligations and compliance.
CA Anuj Desai · 25 Jul 2026
- How to Handle a SEBI Inspection as a Portfolio Manager — Complete Readiness Guide
A comprehensive guide to handling a SEBI inspection as a Portfolio Manager, covering preparation, inspection process, and post-inspection compliance.
CA Anuj Desai · 25 Jul 2026
- Obligations of a Portfolio Manager During Inspection — Production of Books and Records
A comprehensive guide to the obligations of Portfolio Managers during a SEBI inspection, covering production of books and records and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Record-Keeping Requirements for Portfolio Managers — What to Maintain and For How Long
A comprehensive guide to record-keeping requirements for Portfolio Managers, covering what records to maintain and for how long.
CA Anuj Desai · 25 Jul 2026
- Common SEBI Inspection Findings for Portfolio Managers — An Illustrative Checklist
An illustrative checklist of common SEBI inspection findings for Portfolio Managers, helping firms prepare for inspections and avoid compliance pitfalls.
CA Anuj Desai · 25 Jul 2026
- Building an Internal SOP Manual for a New PMS Practice — Complete Governance Framework
A comprehensive guide to building an internal SOP manual for a new PMS practice, covering governance framework, policies, and procedures.
CA Anuj Desai · 25 Jul 2026
- Cybersecurity and Cyber Resilience Framework (CSCRF) for Portfolio Managers
A comprehensive guide to the Cybersecurity and Cyber Resilience Framework (CSCRF) for Portfolio Managers, covering requirements and compliance.
CA Anuj Desai · 25 Jul 2026
- VAPT Cadence for Portfolio Managers — What's Required and How Often
A comprehensive guide to Vulnerability Assessment and Penetration Testing (VAPT) cadence for Portfolio Managers, covering requirements and frequency.
CA Anuj Desai · 25 Jul 2026
- Business Continuity Planning and DR Drills for PMS — What Auditors Check
A comprehensive guide to business continuity planning and DR drills for Portfolio Managers, covering what auditors check and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Cloud Adoption Framework for PMS — Compliance Considerations
A comprehensive guide to the cloud adoption framework for Portfolio Managers, covering compliance considerations and requirements.
CA Anuj Desai · 25 Jul 2026
- Data Localisation Requirements for PMS SaaS Tools — Why Critical Data Must Stay in India
A comprehensive guide to data localisation requirements for PMS SaaS tools, explaining why critical data must stay in India.
CA Anuj Desai · 25 Jul 2026
- AI/ML Tools in Portfolio Management — SEBI's "Extent of Use" Disclosure Requirement
A comprehensive guide to SEBI's "extent of use" disclosure requirement for AI/ML tools in portfolio management.
CA Anuj Desai · 25 Jul 2026
- AML Obligations for Portfolio Managers — Master Circular Reference
A comprehensive guide to AML obligations for Portfolio Managers, including master circular references and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Reporting of Suspicious Transactions to FIU by Portfolio Managers
A comprehensive guide to reporting suspicious transactions to FIU by Portfolio Managers, including requirements and procedures.
CA Anuj Desai · 25 Jul 2026
- FATCA and CRS Compliance for Portfolio Managers — Reporting Obligations
A comprehensive guide to FATCA and CRS compliance for Portfolio Managers, covering reporting obligations and requirements.
CA Anuj Desai · 25 Jul 2026
- Digital Personal Data Protection Act (DPDPA) Compliance for PMS Investor Data
A comprehensive guide to DPDPA compliance for Portfolio Managers, covering investor data protection requirements and obligations.
CA Anuj Desai · 25 Jul 2026
- How PMS Investors Are Taxed — Why Capital Gains Sit at the Client's PAN, Not the Fund's
A comprehensive guide to how PMS investors are taxed in India, explaining why capital gains sit at the client's PAN and not the fund's, with practical tax planning insights.
CA Anuj Desai · 25 Jul 2026
- PMS vs AIF vs Mutual Fund Taxation — Complete Comparative Guide
A comprehensive comparative guide to taxation of PMS, AIF, and Mutual Funds in India, covering key differences, rates, and strategic considerations for investors.
CA Anuj Desai · 25 Jul 2026
- STCG vs LTCG on PMS Portfolio Churn — Holding Period Rules Explained
A comprehensive guide to STCG and LTCG on PMS portfolio churn, explaining holding period rules, tax rates, and strategic tax planning considerations.
CA Anuj Desai · 25 Jul 2026
- TDS Implications for NRI PMS Clients — Complete Guide
A comprehensive guide to TDS implications for NRI PMS clients, covering rates, compliance requirements, and DTAA benefits.
CA Anuj Desai · 25 Jul 2026
- Set-Off and Carry-Forward of Losses in a PMS Account — A Practical Guide
A practical guide to set-off and carry-forward of losses in a PMS account, covering rules, scrip-wise computation, and tax planning strategies.
CA Anuj Desai · 25 Jul 2026
- GST on Portfolio Management Fees — What CAs Offering PMS Advisory Must Charge
A comprehensive guide to GST on portfolio management fees for CAs offering PMS advisory, covering rates, compliance, and practical considerations.
CA Anuj Desai · 25 Jul 2026
- Tax Reporting Obligations of a Portfolio Manager to Clients — Capital Gains Statements
A comprehensive guide to tax reporting obligations of Portfolio Managers to clients, covering capital gains statements, format, and compliance requirements.
CA Anuj Desai · 25 Jul 2026
- Presumptive Taxation and PMS Income for Part-Time/Allied Professionals — Applicability Check
A comprehensive guide to presumptive taxation applicability for PMS income earned by part-time and allied professionals, including CAs and other professionals.
CA Anuj Desai · 25 Jul 2026
- PMS vs Mutual Fund — Which Is Right for Your Portfolio Size?
A comprehensive comparison of PMS and Mutual Funds to help investors determine which is right for their portfolio size and investment goals.
CA Anuj Desai · 25 Jul 2026
- PMS vs AIF — Key Structural and Regulatory Differences Explained
A comprehensive comparison of PMS and AIF, highlighting key structural and regulatory differences to help investors choose the right vehicle.
CA Anuj Desai · 25 Jul 2026
- PMS vs Investment Adviser — Advice vs Discretionary Management, Explained
A comprehensive comparison of PMS and Investment Adviser, explaining the crucial distinction between advice and discretionary management.
CA Anuj Desai · 25 Jul 2026
- PMS vs Robo-Advisory — Regulatory Status and Suitability Compared
A comprehensive comparison of PMS and robo-advisory platforms, explaining regulatory status and suitability for different investors.
CA Anuj Desai · 25 Jul 2026
- SEBI's Regulatory Philosophies Compared — PMS, AIF, Mutual Fund, Stock Broker & IA
A comprehensive comparison of SEBI's regulatory philosophies across PMS, AIF, Mutual Fund, Stock Broker, and Investment Adviser categories.
CA Anuj Desai · 25 Jul 2026
- Discretionary PMS vs Non-Discretionary PMS — Which Suits Which Investor
A comprehensive comparison of Discretionary and Non-Discretionary PMS to help investors determine which suits their investment style and preferences.
CA Anuj Desai · 25 Jul 2026
- PMS for HNI and UHNI Clients — How the Engagement Model Differs
A comprehensive guide to how the PMS engagement model differs for HNI and UHNI clients, covering customization, service expectations, and regulatory considerations.
CA Anuj Desai · 25 Jul 2026
- PMS for First-Generation Wealth Creators — Founders, Professionals & Business Owners
A comprehensive guide to PMS for first-generation wealth creators, covering founders, professionals, and business owners with practical considerations.
CA Anuj Desai · 25 Jul 2026
- Family Office and PMS — Where the Two Intersect for a CA-Led Practice
A comprehensive guide to where Family Office and PMS intersect for a CA-led practice, covering opportunities, structuring, and compliance.
CA Anuj Desai · 25 Jul 2026
- Should Your CA Firm Build an In-House PMS Practice or Refer Clients Externally? — The Business Case
A comprehensive business case analysis for CA firms considering whether to build an in-house PMS practice or refer clients externally.
CA Anuj Desai · 25 Jul 2026
- NISM Certification for Portfolio Managers — Which Exams You Actually Need
A comprehensive guide to NISM certification requirements for Portfolio Managers, explaining which exams you actually need and how to obtain them.
CA Anuj Desai · 25 Jul 2026
- Part-Time PMS-Adjacent Advisory for CAs — Where the Line Sits With IA/RA Registration
A comprehensive guide to where the line sits between part-time PMS-adjacent advisory for CAs and IA/RA registration requirements.
CA Anuj Desai · 25 Jul 2026
- Why Most CAs Give "Portfolio Advice" Without Realising They've Crossed a Regulatory Line
A comprehensive guide to why most CAs give portfolio advice without realising they've crossed a regulatory line, with practical compliance guidance.
CA Anuj Desai · 25 Jul 2026
- Can a CA Firm Offer Both Tax Advisory and PMS Referral Services? — Structuring the Arms-Length Requirement
A comprehensive guide to whether a CA firm can offer both tax advisory and PMS referral services, with a focus on the arms-length structuring requirement.
CA Anuj Desai · 25 Jul 2026
- Outsourcing Compliance Functions as a Portfolio Manager — What You Can and Can't Delegate
A comprehensive guide to outsourcing compliance functions as a Portfolio Manager, explaining what you can and cannot delegate under SEBI regulations.
CA Anuj Desai · 25 Jul 2026
- Succession Planning for a Portfolio Management Practice
A comprehensive guide to succession planning for a Portfolio Management practice, covering regulatory requirements, practical considerations, and best practices.
CA Anuj Desai · 25 Jul 2026
- Whistleblower Policy Design for Portfolio Managers — Building a Speak-Up Framework
A comprehensive guide to whistleblower policy design for Portfolio Managers, covering how to build a speak-up framework and ensure compliance.
CA Anuj Desai · 25 Jul 2026
- Directors & Officers (D&O) Insurance for Portfolio Managers — Why It Matters
A comprehensive guide to Directors & Officers (D&O) Insurance for Portfolio Managers, explaining why it matters and how to obtain coverage.
CA Anuj Desai · 25 Jul 2026
- Investment Adviser vs Portfolio Manager (PMS) — Which One Suits Your Portfolio Size?
A Portfolio Manager and an Investment Adviser can both sit at the high-net-worth end of the advisory spectrum — but one actually executes trades on your behalf, and the other never touches your money at all. That distinction shapes almost everything else about the comparison.
CA Anuj Desai · 18 Jul 2026
- AIF vs PMS vs Mutual Funds: Key Differences Explained
A side-by-side comparison of Alternative Investment Funds, Portfolio Management Services, and Mutual Funds — regulation, minimum investment, structure, and who each is meant for.
CA Anuj Desai · 11 Jul 2026
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