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Income Tax : We’ve just wrapped up the non-audit tax filing season, and now we’re entering the critical and often confusing period of Tax A...
Income Tax : Overview of Income Tax rates, deductions, surcharges, and cess for individuals, companies, and cooperative societies under the Fin...
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Finance : New IFSC regulations effective June 6, 2024, govern bookkeeping, accounting, taxation, and financial crime compliance services, im...
Goods and Services Tax : Learn how to file GSTR-1A with our comprehensive manual and FAQs. Get step-by-step guidance and clear answers to common questions....
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Fema / RBI : Explore the recent RBI action against Paytm Payments Bank under Section 35A of the Banking Regulation Act, its impact on accounts,...
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FREQUENTLY ASKED QUESTIONS ON SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 1. In terms of proviso to regulation 3(12) of the SEBI (Share Based Employee Benefits) Regulations, 2014, the un-appropriated inventory of shares which is not backed by grants but has been acquired through secondary acquisition by the Trust has to be sold on the […]
One way of reducing burden of tax on export has been to grant refund of service tax under Notification No. 41/2012-ST on services used in relation to export of goods outside India. The refund was allowed in relation to taxable services used beyond the place of removal for export of goods. The intention was to grant refund of tax paid on services used in the course of export of goods from the factory or any premises to port/airport.
1.What is an overseas JV? 2. What is meant by wholly-owned subsidiary, first level subsidiary and second level subsidiary? 3. How can direct investments (DI)/ financial commitments (FC) in overseas wholly owned subsidiaries/JVs be made? 4. What are the conditions to be followed to invest or give FC in overseas JVs and WOS? 5. What is the overall exposure limits?
Section 135 of the Companies Act, 2013, Schedule VII of the Act and Companies CSR Policy Rules, 2014 read with General Circular dated 18.06.2014 issued by the Ministry of Corporate Affairs, provide the broad contour within which eligible Companies are required to formulate their CSR policies including activities to be undertaken and implement the same in the right earnest.
In terms of revised selection methodology prescribed vide Circular No. 995/2/2015-CX dated 27th Feb, 2015, which has come into effect from 01st July, 2015, an annual schedule for audit would be drawn based on the risk evaluation method prescribed by the Directorate General of Audit. The risk assessment function will be jointly handled by National Risk Managers (NRM) situated in the Directorate of Audit and Local Risk Managers (LRM) heading the Risk Management Section of Audit Commissionerates.
Share warrants are a common source of funding used by companies, both public and private. As is clear from the nomenclature, warrants are issued with an option to convert into shares of the company. Having said so, share warrants are not similar to CCDs or ESOPs as has been explained further in this write-up. In […]
How would liability be determined in case of reverse charge services where services have been received prior to 15.11.2015 but consideration paid post 15.11.2015? Does a person providing both exempted and taxable service and reversing credit @ 7% of value of exempted service under Rule 6 of Cenvat Credit Rules, does he need to reverse the SBC also?
Finance Act 2015 had provided provision for levy and collection of Swachh Bharat Cess (SBC) under section 119 of the Finance Act, 2015 at a rate not exceeding two percent on the value of services. The levy was to become effective from the date to be notified by the Government. The objective of behind introducing SBC was to fund for Government’s flagship program of Swachh Bharat. Incidentally,
In this article we have discussed 19 Frequently asked question on Bharat Bill Payment System(BBPS) which is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment.
What is Electronic Clearing Service (ECS)? It is a mode of electronic funds transfer from one bank account to another bank account using the services of a Clearing House. This is normally for bulk transfers from one account to many accounts or vice-versa. This can be used both for making payments like distribution of dividend, interest, salary, pension, etc. by institutions or for collection of amounts for purposes such as payments to utility companies like telephone, electricity, or charges such as house tax, water tax, etc or for loan installments of financial institutions/banks or regular investments of persons.
