HOW TO APPLY TO RBI FOR MOBILE WALLET/ PREPAID PAYMENT INSTRUMENTS

RJA 13 Apr, 2018

The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance ...

RESIDENTIAL STATUS UNDER INCOME TAX and FEMA

RJA 09 Apr, 2018

  Tax incidence on an assessee depends on his residential status. For instance, whether an income, accrued to an individual outside India, is taxable in India depends upon the residential status of the individual in India. Similarly, whether an income earned by a foreign national in India (or outside India) ...

IMPORTANT ANALYSIS OF ALL MAJOR AMENDMENTS IN INCOME TAX APPLICABLE FOR A.Y. 2018-19

RJA 02 Apr, 2018

Maintenance of Books of Accounts Change in limits for Maintenance of Books of Accounts (Section 44AA): If your net income* from Business or Profession in the financial year 2017-18 is more than Rs 2,50,000 OR if your total sales from Business or Profession in the financial year is more than 25,00,000, then ...

Merger and Amalgamation under Companies Act, 2013 by National Company Law Tribunal (NCLT).

RJA 19 Mar, 2018

Merger and Amalgamation is a restructuring tool available to Indian conglomerates aiming to expand and diversify their businesses for various reasons whether it is to gain competitive advantage, reduce costs or availing of tax benefits. Merger means an arrangement whereby one or more existing companies merge their identity in to ...

NEEDED TO FILE INCOME TAX RETURNS FOR YOUR BITCOIN PROFITS EARN:

RJA 17 Mar, 2018

Profited from Bitcoins or other Crypto currencies and not sure how to file your income tax returns? Did you know gains from bitcoin is treated as capital gains and hence taxed? We are India’s leading tax filing portal to help you to file your returns ...

RESIDENTIAL STATUS UNDER INCOME TAX

RJA 14 Mar, 2018

Tax incidence on an assessee depends on his residential status. For instance, whether an income, accrued to an individual outside India, is taxable in India depends upon the residential status of the individual in India. Similarly, whether an income earned by a foreign national in India (or outside India) is ...

QUICK REVIEW Of PREVENTION OF MONEY LAUNDERING ACT, 2002

RJA 13 Mar, 2018

Money laundering is the process by which large amounts of illegally obtained is given the appearance of having originated from a legitimate source. So basically, all the ways to convert the black money into white money are Money laundering. But in Money laundering, the black money ...

UNION CABINET APPROVES ARBITRATION AND CONCILIATION (AMENDMENT) BILL, 2018

RJA 09 Mar, 2018

The Union Cabinet on Wednesday approved the Arbitration and Conciliation (Amendment) Bill, which seeks to establish an independent body to make arbitration process user-friendly, cost-effective and ensure speedy disposal and neutrality of arbitrators. The Bill seeks to encourage institutional arbitration for settlement of disputes and make India a centre of ...

Future of Accountancy Profession

RJA 08 Mar, 2018

Future of Accountancy Profession Accountancy profession will face significant challenges in coming times with the evolving technologies, globalization and new form of regulations. Along with tough challenges come exciting opportunities which accountants in business and practice are going to face. Emerging technologies and global trends are definitely reshaping the accountancy ...

Elements of Financial Statements

RJA 07 Mar, 2018

The financial elements of a financial statement are broadly classified into five categories. These are grouped according to the monetary characteristics they possess. Let’s have a brief understanding of all five. Assets An asset is a resource (either tangible or intangible) which is in control of the enterprise ...

How to file return under UAE VAT

RJA 05 Mar, 2018

As per the official site of Ministry of Finance, UAE, majority of the business entities will be required to file the VAT returns on quarterly basis, within one month/28 days from the end of the respective quarter. USE OF ACCOUNTING SOFTWARE The business in UAE are required to ...

QUICK REVIEW ON INSOLVENCY AND BANKRUPTCY CODE

RJA 03 Mar, 2018

The meaning of Insolvency and Bankruptcy is not same. “Insolvency” means the situation where an entity (debtor) cannot raise enough cash to meet its obligations or to pay debts as they become due for payment Bankruptcy is the term for when an individual is declared bankrupt by the ...

Everything You Need to Know About SIDBI Loan Schemes

RJA 24 Feb, 2018

SIDBI has proved to be a great support system for all kinds of small businesses in India. This is because they create a series of equity and loan schemes for MSME sector to sanction their growth. In the following article, we will observe some famous SIDBI schemes like- SME IT ...

Cabinet approves New Bill to ban Unregulated Deposit Schemes and Chit Funds (Amendment) Bill, 2018

RJA 24 Feb, 2018

In a major policy initiative to protect the savings of the investors, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to introduce the following bills in the Parliament:- (a) Banning of Unregulated Deposit Schemes Bill, 2018 in parliament & (b) Chit ...

AUDIT UNDER GST ACT 2017

RJA 22 Feb, 2018

Under GST Audit would be done in Two Ways: Section 65 (compulsory audit by tax authorities) Section 66 (special audit by chartered accountant or cost accountant) What is an Audit? As per Section 2(13) of CGST Act, 2017’audit’ means the examination of records and other documents maintained or furnished by the ...

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