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Finance : This guide explains why senior travellers should review travel insurance coverage, organise medical records, and plan ahead before...
Finance : The article explains how local Indian phone numbers enhance credibility and accessibility for international businesses. It highlig...
Finance : The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. I...
Finance : The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that ba...
Finance : mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, ...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Finance : The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, ...
Finance : The IFSCA clarified that retrocession and retention requirements apply to the entire gross reinsurance premium of IFSC Insurance O...
Finance : The authority observed that except life insurance, other insurance segments under IFSCA regulations align with the statutory defin...
Finance : The Ministry of Finance clarified that claims regarding monetisation of temple gold holdings or issuance of gold bonds to temples ...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Finance : The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from co...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : IFSCA clarified that a common brand name by itself is sufficient to establish a Group Entity relationship under the ship leasing f...
Finance : IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporati...
Finance : IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aim...
Finance : IFSCA has warned regulated entities that advanced AI models can accelerate cyberattacks by rapidly identifying and exploiting vuln...
Finance : The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations und...
Earlier, the entities that fell under the ambit of the law included only chit fund companies, banking companies, financial institutions and housing finance companies. The amendment now says any company registered under section 25 of the Indian Companies Act, 1956, and/or as a trust or society under the Societies Act, 1860, or any similar state legislation, will be brought under the purview of PMLA.
Taking a serious note of Union Bank of India (UBI) not reporting high-value transactions to it, the government has asked the state-owned bank to immediately carry out an audit of all its branches to check for such large deposits that have gone unreported.The Income Tax department, during a probe into alleged money laundering by former Jharkhand chief minister Madhu Koda, had stumbled on a bank account at one of UBI’s branches in Zaveri Bazar in Mumbai where approximately Rs214 crore had been deposited in cash between January five and March 30, 2007.
The sole proprietorship is the oldest, simplest, and most common form of business entity. It is a business owned by a single individual. For tax and legal liability purpose, the owner and the business are one and the same. The proprietorship is not taxed as separate entity. Note that the earnings of the business are taxed at the individual level, whether or not they are actually in cash. There is no vehicle for sheltering income.
In the apex court litigants and lawyers have been paying a insignificant fee for filing appeals or vakalatnama for more than 40 years, but it may register a 20-fold boost as per a current proposal being examined by law minister Veerappa Moily.
Mumbai: Revenue department has approved a proposal to levy a flat 1% charge on property registrations with immediate effect, doing away with the Rs30,000 ceiling. Revenue minister Narayan Rane lifted a stay on an earlier order of the government. The decision on the 1% property registration fee was taken by then revenue minister Patangrao Kadam early this year but was stayed ahead of elections.
Foreign companies who are engaged in manufacturing and trading activities outside India are allowed, by Indian law, to set up branch offices in India for the following purposes: Export/Import of goods. Rendering professional or consultancy services. Carrying out research work, in which the parent company is engaged.
Corruption is part and parcel of our life. A common person is faced with this problem, almost every time he approaches Public authorities for any permission, exemption or for any other public benefit. There are numerous allegations against public authorities for corruption with respect to functions like permission for building a residential accommodation, opening up a restaurant or any other commercial activity,
IFRS — issued by International Accounting Standards Board — is acknowledged by 113 countries. This is ICAI’s first list and more companies would be added on its next list, sources said. The first list comprises 439 companies. It includes BSE-Sensex companies, NSE-Nifty companies, companies that have raised debt of over $50 million abroad, financial sector companies, publicly accountable companies (with total borrowings of over Rs 1,000 crore), Indian subsidiaries of foreign companies that have implemented IFRS at the parent company and companies outside these categories with capital of over $50 million abroad.
With lessons from the devastating fire that gutted the IOC depot here at the Sitapura industrial area, the company has decided to begin a safety audit of all its operating depots, terminals and plants in the country. According to N Srikumar, executive director, corporate communication, IOC, the safety and security audit would cover all the 300-plus locations nationwide of the IOC.
The Ministry of Commerce and Industry (MCI) had issued a letter dated 20 August 2009 requiring all foreign nationals in India holding Business Visa (BV) and working on project/ contract based assignments in India to return to their home countries on expiry of their BV or by 30 September 2009, whichever is earlier. This deadline was subsequently extended to 31 October 2009 by the Ministry of Home Affairs (MHA).
