Every country believes in keeping foreign reserves on a higher side to balance the economy. For that purpose, every economy tends to encourage the exports and motivate the indigenous production. To encourage the exporter every country provides a lot of benefits in terms of Duty Drawback etc. India is not behind compared to any other […]
Section 197 of Income Tax Act, 1961 contains the provisions for Lower Deduction Certificate. Generally, where the actual income tax liability on the income of the assessee is less than the TDS which has been deducted by the payer as per Chapter-XVII, then it may cause a major problem of working capital management for the […]
India’s e-commerce sector stands 9th in global cross border growth. While China takes the first position, Japan follows India at the tenth place after India as per the global rankings for the growth in e-commerce sector. Introduction India known for its rich diversity and culture, is more of a combination of various splendid cultures that make India […]
Brief note: The Ministry of Corporate Affairs (MCA) has issued the Company (Accounts) Amendment Rules, 2021, Companies (Audit and Auditors) Amendment Rules, 2021 and made amendments to Schedule III under the Companies Act, 2013 (“the Act”). These amendments require significant additional disclosures in the statutory financial statements of companies, enhance reporting responsibilities of the auditors […]
An Export in International Trade means Goods and Services produced in one country and sold to buyers in another country (Foreign buyer). India’s Exports & Imports complete the term International Trade and together it decides the country’s Trade Balance. When the country’s export exceeds the imports it leads to Trade Surplus, however it accounts to […]
Missed the deadline to file your Income Tax return? Learn how to file it even when the window is closed by the Income Tax portal.
E-Invoice or Electronic Invoice is a form of electronic billing. It’s a system in which B2B (business to business) invoices are electronically uploaded and authenticated by Invoice Registration Portal (IRP).
Liberalised Remittance Scheme (LRS) is a measure to facilitate Resident Individuals (including minors) to remit funds outside India up to USD 250,000 or its equivalent in any freely convertible foreign currency per financial year (April-March) for any permissible capital or current account transaction or a combination of both. The scheme was introduced by Reserve Bank […]
1. What are the types of Companies that can be registered in India? –One Person Company (OPC) -Private Limited Company -Subsidiary of a Foreign Company -Public Limited Company -Limited Liability Partnership (LLP) -Non-Profit Organizations (Sec. 8 Companies) -Nidhi Company 2. Can a Foreign National incorporate a Company in India? A Foreign National can incorporate a […]
WHAT IS FRRO REGISTRATION: Registration under FRRO is a mandatory requirement by the Government of India under which all foreign nationals (excluding overseas citizens of India) visiting India on a long term visa (more than 180 days) are required to register themselves with a Registration Officer within 14 days of arriving in India. Pakistani nationals visiting India are required to register within […]
