Form 10B Every organization or trust registered under Section 12 must file Form 10B. Here are some of the situations where filing form 10B is mandatory: If the total income of the trust or institution, without using the provisions of the mentioned clause/section, as applicable universities and hospitals as [...]
Our Hon’ble PM Shri Narendra Modi has embarked on a mission of a corruption-free India taking the help of Information and Technology and conceived the idea of Digital India. In a national Conclave of Tax official. [...]
Budget 2020 changed the rules that determine how a person’s income is taxed. Once these rules are implemented, NRI’s who visit India will need to keep track of the number of days they spend in the country and remember to file their tax returns depending on their status. [...]
In the earlier framework as covered in the Master Direction – External Commercial Borrowings, Trade Credit, and Structured Obligations (Master Directions), ECB proceeds could not be utilized for working capital purposes. [...]
WHAT IS THIS NEW REGULATION? The Ministry of Corporate Affairs (MCA) came out with an update that as a part of updating its database, the (Know Your Customer) KYC of all Directors of all companies must be done through a new eform viz. DIR-3 KYC. WHAT DO I HAVE TO DO? Every Director [...]
Two amendments have been proposed to Section 9. The first proposed amendment is substitution of clause (a) in the Explanation 2 to Section 9(1)(i) which defines the meaning of ‘business connection’. Such amendment is proposed in view of recommendation of Action Plan 7 of BEPS report. This Action Plan proposes [...]
The Service Tax department has vide its notification no. 16/2013 dated 22nd November 2013 reduced the threshold limits beyond which service tax has to be paid through internet banking system. Hitherto Rule 6(2) of the Service Tax Rules 1994 provided that “where an assessee has paid a total service tax [...]
Section 12(3)(c ) of the Companies Act, 2013 which comes into effect from 1st April, 2014 provides that (3) Every company shall— (c) get its name, address of its registered office and the Corporate Identity Number along with telephone number, fax number, if any, e-mail and website addresses, if any, printed in [...]
Section 149 of the Companies Act, 2013 brings out the following changes regarding Board of Directors of a company. WOMEN DIRECTORS 1) Every listed company and every public company having a paid up share capital of Rs.100 crores or more OR turnover of Rs.300 crores or more shall mandatorily appoint [...]
Even though the tech services industry may be in the middle of a downturn, outsourcing is not going anywhere, as it offers too many benefits. Outsourcing, now a staple business practice is not likely to meet its end in the near future. Here are five reasons why outsourcing is here [...]