In India custom clearance is a complex and time taking procedure that every export face in his export business. Physical control is still the basis of custom clearance in India where each consignment is manually examined in order to impose various types of export duties. High import tariffs and multiplicity of exemptions and export promotion […]
Over the past five years India has become not only the world’s second-largest sending market – after only China – but also one of the fastest-growing sources of outbound students. Now, there are many provisions of FEMA which is applicable to students going abroad such as their Residential status, Remittance facilities, Educational loans to make […]
Acquisition And Transfer of Immovable Property In India: FEMA and International Taxation Perspective ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY – A NRI or an OCI may acquire immovable property in India other than an agricultural land or farm house or plantation property. POI as a category is no longer eligible to acquire immovable property as […]
Unraveling complexities in Income Tax Search & Seizure Operations: AO scenarios, New Claims, Section 143(2) Notice, Section 132 compliance, and the scope of Section 153A. Explore recent judgments and expert analysis.
DIPP issues standard operating procedures to decide fate of FDI under approval route -System of approving foreign investment proposals in India by an inter-ministerial body is now officially replaced with approval by distinct administrative ministries / departments in accordance with the standard operating procedure issued by DIPP. -Foreign investment proposal proposed to be approved within […]
LIBERALISED REMITTANCE SCHEME (LRS) FEMA is a policy law which is drafted loosely and its principles keep on changing as individuals keep on changing and there are multiple notifications and rules which can apply to particular transaction. However we advise in such manner in order to avoid unnecessary litigaton. BRIEF INTRODUCTION: LRS is brought as […]
GST IMPLICATION ON SALE OF DEVELOPED PLOT OF LAND We are of the view that Sale of Developed Land is not leviable to GST. However, we always suggest an alternative tax efficient model for such transactions to keep it free from unnecessary litigation. Serial Number 5 to Schedule III of the CGST Act: “5. Sale […]
