Corporate tax Update for the Month No action against black money declarants under FEMA: RBI Oct 2, 2015 With the compliance window for declaration of offshore assets ending on September 30, the RBI on Thursday clarified that no proceedings would be initiated under the Foreign Exchange Management Act, 1999 (FEMA) against declarants with assets held …
NEW INITIATIVES OF THE NEW GOVERNMENT OF INDIA-“MAKE IN INDIA” One of the major initiatives of the New Government of India, led by Mr. Narendra Modi is the new “Make in India ” The program, The objective is to make India a manufacturing hub for the work and to attract the major Industries across the …
Significant Changes Introduced In Foreign Director Investment Policy The consolidated FDI policy document is a single reference point for investors and regulators. The first such consolidation was released in March, 2010 after which it has been updated every six months. This’ Circular 2 of 2011’-is the fourth edition of the consolidated policy document. The significant changes …
Advantage of Foreign Inward Remittance Certification (FIRC) FOREIGN INWARD REMITTANCE CERTIFICATE (FIRC) 1. Introduction Foreign Inward Remittance Certificate (FIRC) is a document that provides proof of inward remittance to India. Such remittance could be either on account of Foreign Direct Investment (FDI) or towards export receivables or towards sale of securities by resident to a …
Revised in Foreign Exchange Regulations Foreign Exchange Management The government has recently modified the Foreign Exchange Management (Current Account Transactions) Rules, 2000 and the Liberalized Remittance Scheme (LRS) for resident individuals for further liberalizing the existing guidelines. Accordingly, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 (USD 1,25,000 earlier) …