The relaxation provided by Ministry of Corporate Affairs on filling Forms BRIEF INTRODUCTION We all understand how hard this COVID pandemic hit us physically, mentally, and financially likewise. We had to lock ourselves in our homes to cut back its impact as we were left with no other better option. The govt. imposed a lockdown …
Multi-Disciplinary Partnership Firms for Chartered Accountants ICAI Notification datd 08.07.2021 about Multi-Disciplinary Partnership Firms for Chartered Accountants was issued in the official gazette. CA firms can now partner with CMAs, CSs, Advocates, Engineers, Architects, MBAs, and others approved under Section 53 B, thanks to a change in Form 18. Background: The Chartered Accountants Regulations, 1988 …
Analysis of TDS & TCS under The Finance Bill BRIEF INTRODUCTION The Union Budget which was introduced within the Parliament, in February, proposed many key adjustments within the tax Act. Especially, some of the positive amendments have been introduced within the TDS and TCS provisions of the said Act. In this article, we would be …
THE DEDUCTIONS U/S 80CCC, 80CCD & 80D BRIEF INTRODUCTION Section 80 Deductions For financial year 2019-20 (Including Budget 2020 amendments). Income tax department, in order to encourage savings and investments amongst the taxpayers, introduced and provided various deductions under chapter VI A, in order to reduce their taxable income and would thereby reduce their tax payment. 80C …
BRIEF INTRODUCTION With the arrival of Globalization, more and more Indian companies have an interest in doing business outside India. they require to set up a branch office or a subsidiary abroad. There are multiple benefits of doing so like cost reduction because they save on duty, simple doing business, building a global brand, etc. …
Overseas Direct Investment Without Remittance of Funds From India An investment outside India will be done by an Indian party or a private or (single or in association with another resident individual or with an ‘Indian Party’). All resident individuals, including minors, are allowed to freely remit up to USD 250,000 per yr. An Indian Party is allowed to make …
LIAISON OFFICE, PROJECT OFFICE & BRANCH OFFICE A company that’s incorporated outside India has the choice to own offices in India that don’t seem to be primarily subsidiary companies. Subject to the depository financial institution of India (“RBI”) guidelines, a distant company can have a branch office, liaison office, or project office. The functions of those offices are limited as these don’t seem to be full-fledged offices sort of a subsidiary office. …
ITC on Marketing Expense/ Sales Promotional Schemes What is the importance of common credit? Input Tax Credit is only available for commercial use. Many traders use the same inputs for business and personal purposes. Input credits for GST paid on personal costs are not available to taxpayers. Again, goods that are excluded from GST already …
REVIVAL OF REAL ESTATE SECTOR Status as on 24.05.2021 As per a recent survey, over 6.10 Lacs units spread across 1500 Projects which are either stalled projects or delayed projects by over 4-5 years. And there’s no construction work going there. As per a recent article published in Financial Express, the subsequent was the findings: At the top of 2019, a complete of 1,322 projects comprising about …
BRIEF INTRODUCTION A web aggregator is an insurance intermediary or an insurance firm that has information on insurance provided by different companies. the net aggregator has been an organization registered with the businesses Act 2013 or the previous company law 1956 and also the IRDAI. REASON TO INTRODUCE INSURANCE WEB AGGREGATORS The main reason behind the introduction of Insurance Web Aggregators in India was to teach …