"05 October 2016" Archive

Establishment of place of business in India by foreign entity- Key Provisions

In the present globalized scenario, where majority of businesses are operating internationally, it is inevitable for global players to set up place of business in various countries across the globe. In India setting up of place of business by foreign entity is governed by the provisions of FEMA. 1999....

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Posted Under: Fema / RBI |

Issues with Export of Service in GST

The definition has squarely covered each and every aspect which helps in establishing the fact of export of service. But the lacuna lies in the sub clause (e) which says the supplier of service and recipient of service are not merely establishments of a distinct person;...

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Posted Under: Fema / RBI |

Impact of GST Over E-Commerce sector

India had an internet user base of about354 million as of June 2015 and is expected to cross 500 million in 2016.Despite being the second-largest user base in world, only behind China (650 million, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54 M, 81%),...

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Posted Under: Fema / RBI |

Satisfactory Learning Rather Than Normal Reading…

CA Syllabus is a wide course rather than a tough one. One has to remember so many things at the same time and that's why it is misunderstood as a tough one. Now, problem is with the memorising all these with the power to present it in a paper....

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Posted Under: Fema / RBI |

All about Real Estate (Regulation and Development) Act, 2016

69 Sections of the Real Estate (Regulation and Development) Act, 2016 notified by the Ministry of Housing & Urban Poverty Alleviation on April 27, 2016 bringing the Act into force with effect from May 1, 2016....

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Posted Under: Fema / RBI |

CA in Job Vs CA in Practice: Who is better in the long run??

After passing CA final examinations, one question that gives sleepless nights to many is WHETHER TO GO FOR PRACTICE OR JOB?? Your whole future depends upon making the right choice. In this article, I will try to provide you with few factors for comparison, so that you can make an informed decision for yourself after weighing all the pros ...

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Posted Under: Fema / RBI | ,

Registration Under Goods and Services Tax

Every person who is liable to be registered under Schedule III of this Act shall apply for registration in every such State in which he is so liable within 30 days from the date on which he becomes liable to registration but the person other than Input Service Distributor who is registered under the previous law shall not require for the ...

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Posted Under: Fema / RBI |

Threatening letter to initiate legal proceedings if dues not paid is professional misconduct

Council of the Institute of Chartered Accountants of India (ICAI) vs. Mahesh Kumar Gupta (Delhi High Court)

Delhi HC held that threating letter issued by professional with reminder of unpaid professional dues is unethical conduct which is not expected by members of a civil society to be committed by a professional like that of Chartered Accountant who is looked upon by the society as a dignified professional....

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Section wise details of Income Tax Deductions

In this article we have discussed deduction available to Taxpayers from various sources of Income for A.Y. 2017-18 and subsequent Years. Deductions include deduction Against Salaries, Against 'income from house properties', Against 'profits and gains of business or profession' Against 'capital gains' and Against 'income from other sources...

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Posted Under: Fema / RBI | ,

CBI arrests ITO, inspector for accepting bribe

The Central Bureau of Investigation has arrested an Income Tax Officer posted at BKC, Mumbai for accepting a bribe of Rs.Three Lakh and an Inspector of Income Tax for accepting a bribe of Rs. 5000/- from the Complainant....

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Posted Under: Fema / RBI |
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