FEMA & FDI Ready Reckoner provides complete and accurate information about all provisions of the Foreign Exchange Management Act, 1999 (FEMA). It also includes guidance on all practical issues faced by companies and FEMA professionals.
Key features of this book are as follows:
• Topic-wise commentary on FEMA
• Analysis of all provisions of FEMA with relevant Rules, Judicial Pronouncements, Circulars, Notifications and Master Directions issued by Reserve Bank of India
• Law Relating to the following
◦ Prevention of Money Laundering Act
◦ Foreign Contribution (Regulation) Act
◦ COFEPOSA
The Present Publication is the 15th Edition, and it is amended up to 30th June 2021. The coverage of this book is as follows:
• FEMA – Overview
• Authorised Person under FEMA
• Account in India by Person Resident out of India
• Accounts of Indian Residents in Foreign Currency
• Receipt and Payment in Foreign Exchange
• Realisation, Repatriation and Surrender of Foreign Exchange
• Money Changing Activities
• Money Transfer Service Scheme (MTSS)
• Possession and Retention of Foreign Currency
• Export and Import of Currency or Currency Notes
• Remittances on Current Account
• Liberalised Remittance Scheme (LRS)
• Export of Goods and Services
• Import of Goods and Services
• Project Exports and Service Exports
• Foreign Exchange Rates
• Overview of Capital Account Transactions
• Foreign Investment in India
• FDI in Indian Company
• Section Wise FDI Policy at a Glance
• FDI – Downstream Investment, i.e. Indirect Investment
• FDI through Rights, Bonus, Sweat Equity or Merger/Amalgamation
• FDI – Transfer of Securities
• FDI in LLP
• FDI in GDR/ADR
• Investment by NRI or OCI
• FDI in Startup Company
• Investment by Foreign Portfolio Investors
• FDI in Investment Vehicle
• FDI by FVCI
• FDI – Investment in Securities by Funds, Foreign Central Bank, etc.
• Investment by Indian Entity in JV/WOS Abroad
• Guarantees
• Insurance
• Borrowing and Lending in Foreign Currency
• Borrowing and Lending in Indian Rupees
• Foreign Investment in Debt Instruments
• External Commerical Borrowings
• Trade Credit (TC) and Structured Obligations
• Acquisitions and Transfer of Immovable Property in India
• Acquisition and Transfer of Immovable Property out of India
• Remittance of Assets
• Branch/LO/Project Office in India by Foreign Entities
• Indian Depository Receipts
• Risk Management and Inter-Bank Dealings
• VOSTRO Account of Non-Resident Exchange Houses
• Industrial Policy of Government of India
• Enforcement of FEMA
• Penalties under FEMA
• Appeals under FEMA
• Compounding of Contraventions under FEMA
• Prevention of Money Laundering Act
• Foreign Contribution (Regulation) Act (FCRA)
• COFEPOSA, 1974
Tax Practice Manual is an exhaustive (2,100+ pages), amended (by the Finance Act, 2021) & practical guide (330+ case studies) for Tax Professionals.
This book will be helpful for the Chartered Accountants, Lawyers/Advocates, Tax Practitioners to assist them in their day-to-day tax works.
This book is divided into two parts:
• Law Relating to Tax Procedures (covering 25+ topics)
• Case Studies (covering 35+ topics)
The Present Publication is the 7th Edition, authored by Gabhawala & Gabhawala, as amended by the Finance Act 2021, with the following noteworthy features:
• Law Relating to Tax Procedures
◦ [Lucid Explanation, in a Practical Manner, with Checklists & necessary Tips] for the law relating to Tax Procedure
◦ [Exhaustive Coverage of Case Laws]
◦ [Fine Prints & Unwritten Lines] are explained in a lucid manner
• Tax Practice
◦ [Elaborated & Threadbare Analysis] of every aspect of Tax Practice
• Case Studies
◦ [330+ Case Studies] to deal with real-life animated situations/problems faced by tax practitioners
• Draft Replies
◦ For the Notices sent by the Department
◦ Petitions to the Department
• Drafting & Conveyancing
◦ [Complete Guide to Drafting of Deeds & Documents] covering
◦ Affidavits
◦ Wills
◦ Special Business Arrangements
◦ Family Arrangements
◦ Power of Attorney
◦ Lease, Rent & Leave and Licenses
◦ Indemnity and Guarantee
◦ Charitable Trust Deeds, etc.
The contents of this book are as follows:
• Law Relating to Tax Procedures
◦ Tax Practice
◦ Pre-assessment Procedures
◦ Assessment
◦ Appeals
◦ Interest, Fees, Penalty and Prosecution
◦ Refunds
◦ Settlement Commission – ITSC, Interim Board for Settlement
◦ Summons, Survey, Search
◦ TDS and TCS
◦ Recovery of Tax
◦ Special Procedures
◦ Approvals
◦ STT, DDT, Tax on Liquidation, Reduction and Buy Back, MAT, AMT and WT
RTI, Ombudsman
◦ Drafting of Deeds
◦ Agreement, MoU
◦ Gifts, Wills, Family Arrangements
◦ Power of Attorney, etc.
◦ Lease, Rent, License, etc.
◦ Sale/Transfer of Properties
◦ Tax Audit
◦ Income Computation & Disclosure Standards
◦ Real Estate (Regulation and Development) Act, 2016 (RERA)
◦ E-Proceedings under the Income Tax Act, 1961
◦ Prohibition of Benami Property Transactions Act, 1988
• Case Studies
◦ Tax Practice
◦ Pre-Assessment Procedures
◦ Assessment – Principles and Issues
◦ Rectification of Mistake
◦ Revision
◦ Appeals to CIT (Appeals)
◦ Appeals to – ITAT – High Court – Supreme Court
◦ Interest Payable by Assessee
◦ Penalties
◦ Prosecution
◦ Refunds
◦ Settlement of Cases
◦ Survey
◦ Search & Seizure
◦ Tax Deduction at Source
◦ Recovery of Tax
◦ Trust, Mutuality, Charity
◦ Firm
◦ LLP – Limited Liability Partnership
◦ Right to Information – RTI
◦ Agreement, MoU
◦ AOP – Association of Persons
◦ HUF – Hindu Undivided Family
◦ Gifts
◦ Wills
◦ Family Arrangements
◦ Power of Attorney
◦ Indemnity and Guarantee
◦ Lease, Rent, Leave and License
◦ Sale/Transfer of Properties
◦ Tax Audit
Direct Taxes Law & Practice – Professional EditionTaxmann
Taxmann’s flagship commentary on Direct Taxes, has been the most trusted & bestselling commentary for experienced practitioners, for more than 20 years now. This book aims at not only making the reader understand the law, but also helps the reader develop the ability to apply the law. In other words, this books aims at providing the reader the following:
• Acquire familiarity with the various direct tax provisions
• Awareness of direct tax provisions
• The nature and scope of direct tax provisions
• Up-to-date knowledge of how a statutory provision has been interpreted by different courts of law, on different occasions
The Present Publication is the Latest Edition for Assessment Years 2021-22 & 2022-23), authored by Dr. Vinod K. Singhania & Dr. Kapil Singhania, incorporating all the amendments made by the following:
• The Finance Act, 2021
• The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
The salient features of this book are as follows:
• [Thoroughly Revised] with a view to making the book more reader-friendly
• [Lucid & To-The-Point Explanations] which have been arranged in paras & sub-paras with distinct numbers, to make the practitioners more efficient in their work.
• [Theoretical Discussions Supplemented by Unique 600+ Illustrations] covering an exhaustive range of issues with reference to the latest Case Laws
• [Tax Planning] Hints are given, wherever tax planning can be resorted to
• [Coverage of Statutory & Judicial Precedents]
In-depth analysis of all provisions of Income-tax Act with relevant Rules, Judicial Pronouncements, Circulars and Notifications
Frequently asked questions for complex provisions
• Gist of all Circulars and Notifications which are in-force
• Digest of all Landmark Rulings by the Apex court, High Courts, and Tribunals
• [Bestseller Series] Taxmann’s Bestseller Book
• [Zero Error] Follows the Six Sigma Approach to achieve the Benchmark of ‘Zero Error’
The document provides instructions and information for preparing quarterly electronic Tax Deducted at Source (eTDS) returns for the 2009-10 assessment year in India. It discusses the key systems and processes involved like the Online Tax Accounting System (OLTAS) and Electronic Return Acceptance and Consolidation System (ERACS). It outlines the filing requirements and formats for different eTDS forms, and provides guidance on using the Return Preparation Utility (RPU) software to generate the required file format.
This presentation takes one through the basic e-filing procedures under the Income Tax Rules prevailing in India. It explains the concepts in a very simplified manner.
The document discusses procedures related to foreign payments and tax deducted at source (TDS) requirements in India.
It outlines the process for remitting funds abroad including obtaining certificates from an accountant (Form 15CB) and submitting forms like 15CA along with bills to the authorized dealer. TDS is required to be deducted on payments to non-residents at prescribed rates under the Income Tax Act or applicable double taxation avoidance agreement.
The consequences of non-compliance with TDS obligations are also summarized, such as disallowance of expenses or penalty equal to the amount of short/non deduction of tax. The applicability of the Income Tax Act or DTAA for charging different types of income like business
This document provides an overview of the tax deducted at source (TDS) and tax collection at source (TCS) processes under the Indian Income Tax Act 1961. It discusses key aspects like the types of taxes covered, provisions for deducting and depositing TDS, declaration and filing of TDS returns. The deadlines for depositing and filing TDS for different quarters are specified. The document also describes the process for preparing, validating and submitting electronic TDS returns using tools like RPU and FVU software along with the required Form 27A.
Tax Practice Manual is an exhaustive (2,100+ pages), amended (by the Finance Act, 2021) & practical guide (330+ case studies) for Tax Professionals.
This book will be helpful for the Chartered Accountants, Lawyers/Advocates, Tax Practitioners to assist them in their day-to-day tax works.
This book is divided into two parts:
• Law Relating to Tax Procedures (covering 25+ topics)
• Case Studies (covering 35+ topics)
The Present Publication is the 7th Edition, authored by Gabhawala & Gabhawala, as amended by the Finance Act 2021, with the following noteworthy features:
• Law Relating to Tax Procedures
◦ [Lucid Explanation, in a Practical Manner, with Checklists & necessary Tips] for the law relating to Tax Procedure
◦ [Exhaustive Coverage of Case Laws]
◦ [Fine Prints & Unwritten Lines] are explained in a lucid manner
• Tax Practice
◦ [Elaborated & Threadbare Analysis] of every aspect of Tax Practice
• Case Studies
◦ [330+ Case Studies] to deal with real-life animated situations/problems faced by tax practitioners
• Draft Replies
◦ For the Notices sent by the Department
◦ Petitions to the Department
• Drafting & Conveyancing
◦ [Complete Guide to Drafting of Deeds & Documents] covering
◦ Affidavits
◦ Wills
◦ Special Business Arrangements
◦ Family Arrangements
◦ Power of Attorney
◦ Lease, Rent & Leave and Licenses
◦ Indemnity and Guarantee
◦ Charitable Trust Deeds, etc.
The contents of this book are as follows:
• Law Relating to Tax Procedures
◦ Tax Practice
◦ Pre-assessment Procedures
◦ Assessment
◦ Appeals
◦ Interest, Fees, Penalty and Prosecution
◦ Refunds
◦ Settlement Commission – ITSC, Interim Board for Settlement
◦ Summons, Survey, Search
◦ TDS and TCS
◦ Recovery of Tax
◦ Special Procedures
◦ Approvals
◦ STT, DDT, Tax on Liquidation, Reduction and Buy Back, MAT, AMT and WT
RTI, Ombudsman
◦ Drafting of Deeds
◦ Agreement, MoU
◦ Gifts, Wills, Family Arrangements
◦ Power of Attorney, etc.
◦ Lease, Rent, License, etc.
◦ Sale/Transfer of Properties
◦ Tax Audit
◦ Income Computation & Disclosure Standards
◦ Real Estate (Regulation and Development) Act, 2016 (RERA)
◦ E-Proceedings under the Income Tax Act, 1961
◦ Prohibition of Benami Property Transactions Act, 1988
• Case Studies
◦ Tax Practice
◦ Pre-Assessment Procedures
◦ Assessment – Principles and Issues
◦ Rectification of Mistake
◦ Revision
◦ Appeals to CIT (Appeals)
◦ Appeals to – ITAT – High Court – Supreme Court
◦ Interest Payable by Assessee
◦ Penalties
◦ Prosecution
◦ Refunds
◦ Settlement of Cases
◦ Survey
◦ Search & Seizure
◦ Tax Deduction at Source
◦ Recovery of Tax
◦ Trust, Mutuality, Charity
◦ Firm
◦ LLP – Limited Liability Partnership
◦ Right to Information – RTI
◦ Agreement, MoU
◦ AOP – Association of Persons
◦ HUF – Hindu Undivided Family
◦ Gifts
◦ Wills
◦ Family Arrangements
◦ Power of Attorney
◦ Indemnity and Guarantee
◦ Lease, Rent, Leave and License
◦ Sale/Transfer of Properties
◦ Tax Audit
Direct Taxes Law & Practice – Professional EditionTaxmann
Taxmann’s flagship commentary on Direct Taxes, has been the most trusted & bestselling commentary for experienced practitioners, for more than 20 years now. This book aims at not only making the reader understand the law, but also helps the reader develop the ability to apply the law. In other words, this books aims at providing the reader the following:
• Acquire familiarity with the various direct tax provisions
• Awareness of direct tax provisions
• The nature and scope of direct tax provisions
• Up-to-date knowledge of how a statutory provision has been interpreted by different courts of law, on different occasions
The Present Publication is the Latest Edition for Assessment Years 2021-22 & 2022-23), authored by Dr. Vinod K. Singhania & Dr. Kapil Singhania, incorporating all the amendments made by the following:
• The Finance Act, 2021
• The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
The salient features of this book are as follows:
• [Thoroughly Revised] with a view to making the book more reader-friendly
• [Lucid & To-The-Point Explanations] which have been arranged in paras & sub-paras with distinct numbers, to make the practitioners more efficient in their work.
• [Theoretical Discussions Supplemented by Unique 600+ Illustrations] covering an exhaustive range of issues with reference to the latest Case Laws
• [Tax Planning] Hints are given, wherever tax planning can be resorted to
• [Coverage of Statutory & Judicial Precedents]
In-depth analysis of all provisions of Income-tax Act with relevant Rules, Judicial Pronouncements, Circulars and Notifications
Frequently asked questions for complex provisions
• Gist of all Circulars and Notifications which are in-force
• Digest of all Landmark Rulings by the Apex court, High Courts, and Tribunals
• [Bestseller Series] Taxmann’s Bestseller Book
• [Zero Error] Follows the Six Sigma Approach to achieve the Benchmark of ‘Zero Error’
The document provides instructions and information for preparing quarterly electronic Tax Deducted at Source (eTDS) returns for the 2009-10 assessment year in India. It discusses the key systems and processes involved like the Online Tax Accounting System (OLTAS) and Electronic Return Acceptance and Consolidation System (ERACS). It outlines the filing requirements and formats for different eTDS forms, and provides guidance on using the Return Preparation Utility (RPU) software to generate the required file format.
This presentation takes one through the basic e-filing procedures under the Income Tax Rules prevailing in India. It explains the concepts in a very simplified manner.
The document discusses procedures related to foreign payments and tax deducted at source (TDS) requirements in India.
It outlines the process for remitting funds abroad including obtaining certificates from an accountant (Form 15CB) and submitting forms like 15CA along with bills to the authorized dealer. TDS is required to be deducted on payments to non-residents at prescribed rates under the Income Tax Act or applicable double taxation avoidance agreement.
The consequences of non-compliance with TDS obligations are also summarized, such as disallowance of expenses or penalty equal to the amount of short/non deduction of tax. The applicability of the Income Tax Act or DTAA for charging different types of income like business
This document provides an overview of the tax deducted at source (TDS) and tax collection at source (TCS) processes under the Indian Income Tax Act 1961. It discusses key aspects like the types of taxes covered, provisions for deducting and depositing TDS, declaration and filing of TDS returns. The deadlines for depositing and filing TDS for different quarters are specified. The document also describes the process for preparing, validating and submitting electronic TDS returns using tools like RPU and FVU software along with the required Form 27A.
1. Advance tax, TDS, and TCS are the major modes of collecting tax at source during or before the financial year.
2. Advance tax is paid voluntarily by taxpayers in installments over the course of the financial year based on their estimated annual income.
3. TDS involves the deduction of tax at source from certain specified payments like salaries, rent, professional fees, etc. at prescribed rates by the deductors.
4. TCS involves the collection of tax by certain buyers from sellers at the time of sale of specified goods like scrap, bullion, jewellery above a threshold limit at prescribed rates.
This document provides an overview of tax deducted at source (TDS) in India. It defines TDS and explains that it is a mechanism for collecting income tax by deducting taxes from payments made to recipients. It outlines who is required to deduct TDS, their responsibilities, applicable tax rates and payments that attract TDS. It also summarizes provisions related to tax collected at source (TCS), due dates for depositing TDS/TCS, filing returns and issuing TDS certificates.
A brief on recent changes in GST post 22nd and 23rd meetings of the GST Council. Please note that this is purely for educational/guidance purposes, and holds no legal validity
The Present Publication is the 57th Edition & Updated till Income-tax (20th Amendment) Rules, 2020 with the following noteworthy features:
·Taxmann’s series of Bestseller Books for more than Five
Decades
· Incorporates all the changes made till the Income-tax (20th
Amendment) Rules, 2020
· Follows the Six Sigma Approach to Achieve the Benchmark of
‘Zero Error’
· Coverage of this book includes:
o All Rules and Schemes, which are either notified under the Income-tax Act or are referred to in different provisions of the Income-tax Act, are covered
o Contains 23 divisions covering all Rules relevant under the Income-tax Act i.e.,
§ Income-tax Rules
§ ICDS
§ STT Rules
§ Equalisation Levy Rules
§ Small Saving Schemes, etc.
· All Forms Carry Action Points that explains the Relevant
Provisions and Process of Filing
· All Redundant and e-Forms are Marked for Quick
Identifications
This document summarizes the statutory requirements and procedures for e-filing TDS returns in India. It outlines that the Finance Act of 2003 and 2004 made it mandatory for corporate and government deductors to file their TDS returns electronically. It then describes the forms and periodicity for filing different TDS returns, the process for preparing and validating e-TDS returns using the File Validation Utility, and the steps for final filing of e-TDS returns at TIN Facilitation Centers.
PAN intimation and new AIR reporting requirementsDK Bholusaria
This document discusses new rules regarding PAN intimations and annual information reporting (AIR) under sections 139A(5) and 285BA(1) of the Income Tax Act. Key points:
- New rules expand the scope of transactions requiring PAN to be quoted, such as purchase of life insurance, debentures, mutual funds, and transactions over Rs. 50,000.
- Specified persons like banks and brokers are responsible for ensuring PAN is quoted and submitting half-yearly statements of declarations received on Form 60 for transactions without PAN.
- AIR reporting now requires additional information from banks on cash transactions over Rs. 50,000, including deposits, withdrawals and purchase of bank
This document provides information on TDS requirements for foreign remittances under Indian law. It notes that TDS must be deducted on payments to non-residents according to section 195 of the Income Tax Act. Form 15CA must be filed for remittances over Rs. 50,000 or Rs. 2.5 lakhs annually along with Form 15CB from a chartered accountant. The proper procedure for deducting and depositing TDS is outlined. Implications of sections 195, 206AA, and tax treaties are discussed. The importance of obtaining a tax residency certificate for claiming treaty benefits is also explained.
Process Flow for GST Refunds as per CGST Act and Rules as on 7 Sep 2017. Please note that this is for guidance purposes only, and holds no legal validity.
Reconciliation Statement and Certification under GST - Form GSTR 9CDVSResearchFoundatio
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various periodic compliance requirements and filings under GST. Under the Act, certain registered persons are required to carry out GST Audit and in such cases a reconciliation statement in Form GSTR 9C has to be filed. In this webinar, we shall analyse and understand the said form under the Act.
TDS stands for Tax Deduction at Source. It is a mechanism for collecting income tax in India whereby the tax is deducted at source from payments like salary, interest, rent, etc. at the time of payment/credit. The payer has to deduct tax as per rates specified in the Income Tax Act 1961 from the payments, deposit the deducted tax with the government, file quarterly TDS returns, and issue annual TDS certificates to the payee. The payee can then claim credit for the TDS while filing their income tax return. The document outlines the basics of TDS, rates of deduction for different types of payments, due dates for depositing deducted taxes, filing returns and issuing certificates
This document provides a summary of provisions related to tax collection and recovery in India. It discusses key sections of the Income Tax Act that deal with collection and recovery (sections 220-232). It outlines the legislative history of changes to various sections over time. It then discusses the concepts of an "assessee in default" and levy of interest on defaulted payments. Specific topics covered include when tax is payable, deeming a taxpayer in default, computation of interest on defaulted payments, and how interest is adjusted in cases where the tax demand amount changes over time such as due to appeals.
Tax Collection At Source - Changes in Budget 2016sandesh mundra
Tax Collection at Source (TCS) refers to collecting a small amount of tax from the buyer at the time of sale of specified goods and services above certain thresholds. The key changes in Budget 2016 are that TCS of 1% will apply to sales of any goods or services exceeding Rs. 2 lakhs and sale of motor vehicles exceeding Rs. 10 lakhs. TCS is the responsibility of the seller to collect from the buyer above the sale price and deposit with the government. It is intended to be a form of advance tax collection at source from high value transactions.
TDS, TCS, and advance payment of tax refer to India's tax collection methods where:
1) TDS requires deductors to withhold a percentage of certain payments like salaries and interest and deposit it with the government. It helps collect taxes in advance and expand the tax net.
2) TCS requires sellers to collect tax from buyers when receiving payment for specified goods.
3) Advance tax must be paid in installments by those with tax liability over Rs. 10,000, before the end of the fiscal year based on estimated income.
The document discusses various provisions and procedures related to the recovery of income tax in India. It explains that the primary duty of collecting tax demand lies with the Assessing Officer who raised the demand. It outlines planning steps like collecting asset details, provisional attachment, and early service of demand notices. It also describes the different recovery measures available to tax authorities ranging from persuasive actions to coercive actions like penalty, attachment of assets or salary, recovery by sale of movable property, and liability of legal representatives.
The document discusses the assessment procedure in income tax. It explains that individuals and entities with incomes above certain thresholds must file an income tax return by July 31 or October 31, depending on the type of assessee. There are different types of returns including regular returns, loss returns, belated returns, and revised returns. The tax authority may conduct self-assessment, scrutiny assessment, best judgment assessment, or income escaping assessment. Self-assessment involves the taxpayer calculating their own tax liability while scrutiny involves deeper examination of select returns.
Income tax-return-of-income-and-assessment-proceduresAdmin SBS
- Return of Income must be filed by certain persons and entities like companies, firms, individuals with income above exemption limit, residents with foreign assets/accounts, charitable trusts, political parties, and research/educational institutions.
- There are different ITR forms for individuals, HUFs, companies, and other persons to file ROI depending on income sources.
- The due date for filing ROI varies depending on the type of assessee but is typically July 31 or September 30. Late or belated returns can be filed within 1 year with penalties. Revised returns can also be filed to correct omissions or mistakes.
- The income tax department undertakes assessment in two stages - intimation issued after automated
This document provides information about taxation for salaried employees, pensioners, and senior citizens in India.
It discusses key topics like filing income tax returns, advance tax payment due dates, applicable tax rates, and forms to be used for filing returns. Specifically, it mentions that the due date for salaried employees to file their return is July 31 and the tax rates for FY 2012-13 are 10-30% with education cess of 3% for general individuals and reduced rates for senior citizens.
The document aims to help taxpayers understand their tax obligations and compliances in a concise manner.
Finance Act 2016 Amendments in Income Tax Laws - A Y 2017-18CA Janardhana Gouda
Finance Act 2016 Amendments in Income Tax Laws applicable for Assessment year 2017-18 on wards. Major Amendments for Individuals, Companies and Changes in TDS and TCS Provisions etc
The document summarizes the procedures for filing income tax returns in India. It discusses:
1) Voluntary returns that must be filed by companies, firms, individuals and HUFs meeting certain income thresholds.
2) Prescribed due dates and forms for different types of taxpayers. Companies and some individuals have a due date of September 30, while most individuals have a July 31 due date.
3) Rules for filing belated or revised returns within one year of the original due date or assessment date.
4) Additional requirements for charitable trusts, political parties, and certain institutions to file by specific due dates using Form ITR-7.
5) Details that must be included in
‘Micro Small & Medium Enterprises (‘MSME’) Ready Reckoner’ is a comprehensive book on laws governing MSMEs in India. This book provides an analysis of all provisions of the MSME Act, 2006 along with relevant Circulars and Notifications.
The Present Publication is the 1st Edition, which incorporates all the amendments announced by the Government of India and Reserve Bank of India (‘RBI’), such as:
· ‘Covid-19 Relief Measures’ announced by RBI,
· New MSME definition,
· Emergency Credit Line Guarantee Scheme and,
· Clarification on new registration for existing EM Part-II/UAM.
The Book has been divided into 8 divisions as under:
· MSMEs – Definition, Classification And Registration | Is there
a uniform definition of small businesses or small and medium
enterprises (‘SME’) for the purposes of all laws benefitting
SMEs?
· Benefits to Registered MSMEs
· Benefits to Small Businesses, whether Registered MSMEs or
Not
· Legal Forms of Organisation MSMEs Can Adopt (with Pros
and Cons of each Legal Form)
· Micro Enterprises
· Small Enterprises
· Medium Enterprises
· Start-Ups
Persentation of millat tractor by abdul waheedNaveed Gee
Millat Tractors Limited is a Pakistani company established in 1964 to market Massey Ferguson tractors. It was later nationalized but privatized again in 1992. The company assembles and manufactures tractors and agricultural equipment at its plant in Lahore. It produces various tractor models and implements and has a network of dealers, workshops, and parts dealers across Pakistan. The company saw growth in production and sales from 2008-2013. Its financial position is strong with profits, assets, and market capitalization increasing annually.
Taxmann's Deduction of Tax at Source with Advance Tax and RefundsTaxmann
Taxmann’s Deduction of Tax at Source with Advance Tax and Refunds provides legal analysis of the provisions along with guidance on all practical problems supported by illustrations and legal jurisprudence.
The Present Publication is the 34th Edition and amended as per the following:
• The Finance Act 2021
• The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
This book is divided into four divisions, namely:
• Deduction of Tax at Source
• Advance Tax
• Tax Collection at Source
• Refund
The key features of the book are as follows:
• [Detailed Analysis] of TDS and TCS provisions
• [Illustrations] for easy understanding of various complex provisions
• [Case Laws] Covering ratio of all important Case Laws relating to TDS & TCS
• [Complete Analysis of the Rules] prescribed on TDS and TCS provisions
• [Guidance on the Controversial Issues] with supporting Case Laws
• [Circulars and Notifications] are linked with the relevant provisions
1. Advance tax, TDS, and TCS are the major modes of collecting tax at source during or before the financial year.
2. Advance tax is paid voluntarily by taxpayers in installments over the course of the financial year based on their estimated annual income.
3. TDS involves the deduction of tax at source from certain specified payments like salaries, rent, professional fees, etc. at prescribed rates by the deductors.
4. TCS involves the collection of tax by certain buyers from sellers at the time of sale of specified goods like scrap, bullion, jewellery above a threshold limit at prescribed rates.
This document provides an overview of tax deducted at source (TDS) in India. It defines TDS and explains that it is a mechanism for collecting income tax by deducting taxes from payments made to recipients. It outlines who is required to deduct TDS, their responsibilities, applicable tax rates and payments that attract TDS. It also summarizes provisions related to tax collected at source (TCS), due dates for depositing TDS/TCS, filing returns and issuing TDS certificates.
A brief on recent changes in GST post 22nd and 23rd meetings of the GST Council. Please note that this is purely for educational/guidance purposes, and holds no legal validity
The Present Publication is the 57th Edition & Updated till Income-tax (20th Amendment) Rules, 2020 with the following noteworthy features:
·Taxmann’s series of Bestseller Books for more than Five
Decades
· Incorporates all the changes made till the Income-tax (20th
Amendment) Rules, 2020
· Follows the Six Sigma Approach to Achieve the Benchmark of
‘Zero Error’
· Coverage of this book includes:
o All Rules and Schemes, which are either notified under the Income-tax Act or are referred to in different provisions of the Income-tax Act, are covered
o Contains 23 divisions covering all Rules relevant under the Income-tax Act i.e.,
§ Income-tax Rules
§ ICDS
§ STT Rules
§ Equalisation Levy Rules
§ Small Saving Schemes, etc.
· All Forms Carry Action Points that explains the Relevant
Provisions and Process of Filing
· All Redundant and e-Forms are Marked for Quick
Identifications
This document summarizes the statutory requirements and procedures for e-filing TDS returns in India. It outlines that the Finance Act of 2003 and 2004 made it mandatory for corporate and government deductors to file their TDS returns electronically. It then describes the forms and periodicity for filing different TDS returns, the process for preparing and validating e-TDS returns using the File Validation Utility, and the steps for final filing of e-TDS returns at TIN Facilitation Centers.
PAN intimation and new AIR reporting requirementsDK Bholusaria
This document discusses new rules regarding PAN intimations and annual information reporting (AIR) under sections 139A(5) and 285BA(1) of the Income Tax Act. Key points:
- New rules expand the scope of transactions requiring PAN to be quoted, such as purchase of life insurance, debentures, mutual funds, and transactions over Rs. 50,000.
- Specified persons like banks and brokers are responsible for ensuring PAN is quoted and submitting half-yearly statements of declarations received on Form 60 for transactions without PAN.
- AIR reporting now requires additional information from banks on cash transactions over Rs. 50,000, including deposits, withdrawals and purchase of bank
This document provides information on TDS requirements for foreign remittances under Indian law. It notes that TDS must be deducted on payments to non-residents according to section 195 of the Income Tax Act. Form 15CA must be filed for remittances over Rs. 50,000 or Rs. 2.5 lakhs annually along with Form 15CB from a chartered accountant. The proper procedure for deducting and depositing TDS is outlined. Implications of sections 195, 206AA, and tax treaties are discussed. The importance of obtaining a tax residency certificate for claiming treaty benefits is also explained.
Process Flow for GST Refunds as per CGST Act and Rules as on 7 Sep 2017. Please note that this is for guidance purposes only, and holds no legal validity.
Reconciliation Statement and Certification under GST - Form GSTR 9CDVSResearchFoundatio
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various periodic compliance requirements and filings under GST. Under the Act, certain registered persons are required to carry out GST Audit and in such cases a reconciliation statement in Form GSTR 9C has to be filed. In this webinar, we shall analyse and understand the said form under the Act.
TDS stands for Tax Deduction at Source. It is a mechanism for collecting income tax in India whereby the tax is deducted at source from payments like salary, interest, rent, etc. at the time of payment/credit. The payer has to deduct tax as per rates specified in the Income Tax Act 1961 from the payments, deposit the deducted tax with the government, file quarterly TDS returns, and issue annual TDS certificates to the payee. The payee can then claim credit for the TDS while filing their income tax return. The document outlines the basics of TDS, rates of deduction for different types of payments, due dates for depositing deducted taxes, filing returns and issuing certificates
This document provides a summary of provisions related to tax collection and recovery in India. It discusses key sections of the Income Tax Act that deal with collection and recovery (sections 220-232). It outlines the legislative history of changes to various sections over time. It then discusses the concepts of an "assessee in default" and levy of interest on defaulted payments. Specific topics covered include when tax is payable, deeming a taxpayer in default, computation of interest on defaulted payments, and how interest is adjusted in cases where the tax demand amount changes over time such as due to appeals.
Tax Collection At Source - Changes in Budget 2016sandesh mundra
Tax Collection at Source (TCS) refers to collecting a small amount of tax from the buyer at the time of sale of specified goods and services above certain thresholds. The key changes in Budget 2016 are that TCS of 1% will apply to sales of any goods or services exceeding Rs. 2 lakhs and sale of motor vehicles exceeding Rs. 10 lakhs. TCS is the responsibility of the seller to collect from the buyer above the sale price and deposit with the government. It is intended to be a form of advance tax collection at source from high value transactions.
TDS, TCS, and advance payment of tax refer to India's tax collection methods where:
1) TDS requires deductors to withhold a percentage of certain payments like salaries and interest and deposit it with the government. It helps collect taxes in advance and expand the tax net.
2) TCS requires sellers to collect tax from buyers when receiving payment for specified goods.
3) Advance tax must be paid in installments by those with tax liability over Rs. 10,000, before the end of the fiscal year based on estimated income.
The document discusses various provisions and procedures related to the recovery of income tax in India. It explains that the primary duty of collecting tax demand lies with the Assessing Officer who raised the demand. It outlines planning steps like collecting asset details, provisional attachment, and early service of demand notices. It also describes the different recovery measures available to tax authorities ranging from persuasive actions to coercive actions like penalty, attachment of assets or salary, recovery by sale of movable property, and liability of legal representatives.
The document discusses the assessment procedure in income tax. It explains that individuals and entities with incomes above certain thresholds must file an income tax return by July 31 or October 31, depending on the type of assessee. There are different types of returns including regular returns, loss returns, belated returns, and revised returns. The tax authority may conduct self-assessment, scrutiny assessment, best judgment assessment, or income escaping assessment. Self-assessment involves the taxpayer calculating their own tax liability while scrutiny involves deeper examination of select returns.
Income tax-return-of-income-and-assessment-proceduresAdmin SBS
- Return of Income must be filed by certain persons and entities like companies, firms, individuals with income above exemption limit, residents with foreign assets/accounts, charitable trusts, political parties, and research/educational institutions.
- There are different ITR forms for individuals, HUFs, companies, and other persons to file ROI depending on income sources.
- The due date for filing ROI varies depending on the type of assessee but is typically July 31 or September 30. Late or belated returns can be filed within 1 year with penalties. Revised returns can also be filed to correct omissions or mistakes.
- The income tax department undertakes assessment in two stages - intimation issued after automated
This document provides information about taxation for salaried employees, pensioners, and senior citizens in India.
It discusses key topics like filing income tax returns, advance tax payment due dates, applicable tax rates, and forms to be used for filing returns. Specifically, it mentions that the due date for salaried employees to file their return is July 31 and the tax rates for FY 2012-13 are 10-30% with education cess of 3% for general individuals and reduced rates for senior citizens.
The document aims to help taxpayers understand their tax obligations and compliances in a concise manner.
Finance Act 2016 Amendments in Income Tax Laws - A Y 2017-18CA Janardhana Gouda
Finance Act 2016 Amendments in Income Tax Laws applicable for Assessment year 2017-18 on wards. Major Amendments for Individuals, Companies and Changes in TDS and TCS Provisions etc
The document summarizes the procedures for filing income tax returns in India. It discusses:
1) Voluntary returns that must be filed by companies, firms, individuals and HUFs meeting certain income thresholds.
2) Prescribed due dates and forms for different types of taxpayers. Companies and some individuals have a due date of September 30, while most individuals have a July 31 due date.
3) Rules for filing belated or revised returns within one year of the original due date or assessment date.
4) Additional requirements for charitable trusts, political parties, and certain institutions to file by specific due dates using Form ITR-7.
5) Details that must be included in
‘Micro Small & Medium Enterprises (‘MSME’) Ready Reckoner’ is a comprehensive book on laws governing MSMEs in India. This book provides an analysis of all provisions of the MSME Act, 2006 along with relevant Circulars and Notifications.
The Present Publication is the 1st Edition, which incorporates all the amendments announced by the Government of India and Reserve Bank of India (‘RBI’), such as:
· ‘Covid-19 Relief Measures’ announced by RBI,
· New MSME definition,
· Emergency Credit Line Guarantee Scheme and,
· Clarification on new registration for existing EM Part-II/UAM.
The Book has been divided into 8 divisions as under:
· MSMEs – Definition, Classification And Registration | Is there
a uniform definition of small businesses or small and medium
enterprises (‘SME’) for the purposes of all laws benefitting
SMEs?
· Benefits to Registered MSMEs
· Benefits to Small Businesses, whether Registered MSMEs or
Not
· Legal Forms of Organisation MSMEs Can Adopt (with Pros
and Cons of each Legal Form)
· Micro Enterprises
· Small Enterprises
· Medium Enterprises
· Start-Ups
Persentation of millat tractor by abdul waheedNaveed Gee
Millat Tractors Limited is a Pakistani company established in 1964 to market Massey Ferguson tractors. It was later nationalized but privatized again in 1992. The company assembles and manufactures tractors and agricultural equipment at its plant in Lahore. It produces various tractor models and implements and has a network of dealers, workshops, and parts dealers across Pakistan. The company saw growth in production and sales from 2008-2013. Its financial position is strong with profits, assets, and market capitalization increasing annually.
Taxmann's Deduction of Tax at Source with Advance Tax and RefundsTaxmann
Taxmann’s Deduction of Tax at Source with Advance Tax and Refunds provides legal analysis of the provisions along with guidance on all practical problems supported by illustrations and legal jurisprudence.
The Present Publication is the 34th Edition and amended as per the following:
• The Finance Act 2021
• The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
This book is divided into four divisions, namely:
• Deduction of Tax at Source
• Advance Tax
• Tax Collection at Source
• Refund
The key features of the book are as follows:
• [Detailed Analysis] of TDS and TCS provisions
• [Illustrations] for easy understanding of various complex provisions
• [Case Laws] Covering ratio of all important Case Laws relating to TDS & TCS
• [Complete Analysis of the Rules] prescribed on TDS and TCS provisions
• [Guidance on the Controversial Issues] with supporting Case Laws
• [Circulars and Notifications] are linked with the relevant provisions
Taxmann's Deduction of Tax at Source with Advance Tax and RefundsTaxmann
Taxmann’s Deduction of Tax at Source with Advance Tax and Refunds provides legal analysis of the provisions along with guidance on all practical problems supported by illustrations and legal jurisprudence.
The Present Publication is the 34th Edition and amended as per the following:
• The Finance Act 2021
• The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
This book is divided into four divisions, namely:
• Deduction of Tax at Source
• Advance Tax
• Tax Collection at Source
• Refund
The key features of the book are as follows:
• [Detailed Analysis] of TDS and TCS provisions
• [Illustrations] for easy understanding of various complex provisions
• [Case Laws] Covering ratio of all important Case Laws relating to TDS & TCS
• [Complete Analysis of the Rules] prescribed on TDS and TCS provisions
• [Guidance on the Controversial Issues] with supporting Case Laws
• [Circulars and Notifications] are linked with the relevant provisions
- The Sensex closed up 271 points and the Nifty closed up 73 points on the day. Yes Bank, IOC, L&T, GAIL and BPCL were the top gainers.
- Global indices like the Dow Jones, S&P 500 and NASDAQ closed up slightly while the FTSE 100 and DAX closed down.
- The document provides technical recommendations and analysis for buying PFC future, Bank Nifty future and Nifty future based on chart patterns and indicators showing a potential trend reversal. It also recommends selling AUBank cash based on it reaching overbought levels.
Student Work From Home Jobs INDIA. Work with your Friends and Colleagues and earn income for a lifetime. Just Recruit Minimum 2 - 10 Members in a Lifetime and Earn Weekly + Annual + Rewards For Lifetime. Start earning commissions from 300 to 30,000 and even up to 2,40,000 weekly You can earn 1Cr in a month. Join the first and unique concept in India from Savings industry 100% legal and regulated by Govt of India through 1982 Act.
----------------------------------
We are not Providing You Salary base JOB to Earn 4,000 - 8,000 Monthly but a Very Powerful PLATFORM to Earn Guaranteed WEEKLY INCOME FOR LIFETIME. You can Work Individually or in Group for Quick income. As this opportunity base upon referral system, here everyone has to create 1PV that means recruiting just only 2 members for a period of 1Year.
**Concept Model**
Pandemics, Lockdowns, Shutdowns, Economic Recessions, UnEmployment, Under Employment, Job Risk, Pay Cut, Job Loss, Employees Attrition, Job Dissatisfaction, Loosing Market, Market Crash, Market Correction, Competition, Business Closings, Vanishing Businesses, New Technology Replacing Old Models, No Demand, Inflation, Raise in Cost of Living, Hyper Inflation, Market Dynamics etc have Become Part of Life these days.
Enlighten yourself that the JOB / Self Employed Business is Never a Freedom but SLAVERY & OWN Business is Always Ownership that Paves the Way to Live a Life of Choice.
❓
Do you WISH to Live like a SLAVE or a MASTER. Choice is YOURs.
🔏🔓🔐
The ONLY Solution to JOB STRESS, INFLATION & RAISE in COST OF LIVING is INCREASE INCOME PASSIVELY .
🎓
Of All Models,
Time Leveraging / Team Marketing with Team Building Based Opportunities are Wisest, TimeTested, Proven and Best Suits to a COMMAN MAN.
👌
& DUPLICATABLE by All
as It Involves a ONETIME StartUp of ONLY ₹2,200 and Work Involves only 1 PV Business - Recruiting ONLY 2 Agents ONCE - IN - A - LIFETIME
and
Duplicate these 2 Steps. So Success is Majority @ SKCIL whereas Success is Minority in Other Opportunities. The POTENTIAL of income is between Weekly ₹30,000+ to ₹2,40,000+. Above all it is TAX Paid Income, Form 16A Given.
😇
SKCIL is a POTENTIAL Opportunity to 100% Resolve JOB STRESS, INFLATION & UNEMPLOYMENT Challenge of Indians as No Country or No Government or No Industry/Market can Provide Employment to All & Check Inflation.
Our MINDSET has to Change from being Dependent to Independent i.e., We need to think OUT-OF-THE-BOX & become more Practical & Wise to TakeUp PASSIVE Income Opportunities.
🤝
Associate with us Lifetime to Live a Life of Choice by Virtue of Time & Money Freedom. Welcome to SKCIL Family - Common Mans World of Financial Abundance.
😇
PONDER.
Be WISE, Money WISE.
********************
What is this Company about?
The company comes in a Savings industry called CHITS it's is not like other Chit Fund Companies, it purely functions on Chit Savings with 0% interest and provides maximum earnings to its Agents by paying weekly commissions for a life
This document provides information on various economic indicators and terms related to analyzing the stock market and economy. It discusses concepts like GDP, inflation, interest rates, commodity markets, technical analysis, and how to open demat and trading accounts. Specifically, it defines fundamental analysis as studying company fundamentals like profits, EPS, and debt ratios to determine which shares to buy. It also outlines the three main components of India's GDP - services at 55%, agriculture at 18%, and industry at 26%.
The document is a daily market report from January 23, 2020 published by www.tradenivesh.com. It includes summaries of the day's activity in Indian and global stock markets, sector indices, and company-specific earnings reports and news. Technical recommendations are provided for certain stocks and indices based on chart analysis, including suggested entry, target, and stop loss levels. Overall, the key Indian indices closed lower on the day, with the Sensex down 0.5% and the Nifty down 0.52%. Several companies are highlighted as gainers or losers for the day.
This document provides tax rates in Pakistan for the year 2017 according to the Finance Bill 2016-17. It outlines income tax rates for salary income, business income, capital gains tax, withholding taxes on various transactions, minimum tax rates for different industries, and tax rates on properties, builders, and developers. The rates are organized into tables with categories of taxable income or transactions and the corresponding tax rates.
Taxmann's Insolvency and Bankruptcy Code 2016Taxmann
This book incorporates the Insolvency & Bankruptcy Code, 2016, and Regulations issued thereunder. Along with the above, the readers also get a specially curated Guide to Insolvency & Bankruptcy Code (Second Amendment) Act 2020 along-with Comprehensive Guide to Insolvency & Bankruptcy Code 2016.
The Present Publication is the 13th Edition, incorporating all the amendments made up to the Insolvency and Bankruptcy Code (Second Amendment) Act, 2020, and is updated till 24th September 2020.
· The book is divided into four Divisions as under:
o The Insolvency and Bankruptcy Code, 2016
o Circulars issued under Insolvency and Bankruptcy Code, 2016
o Rules and Regulations
o RBI (Prudential Framework for Resolution of Stressed Assets)
Directions, 2019
· The coverage of the book is as follows:
o List of Rules and Regulations
o Amendments made by the Insolvency & Bankruptcy Code
(Amendment) Act, 2020 and by the Insolvency & Bankruptcy
Code (Second Amendment) Act, 2020 at a glance
o Amendments made by the Insolvency & Bankruptcy Code
(Amendment) Act, 2019 at a glance
o Guide to the Insolvency & Bankruptcy Code (Second
Amendment) Act, 2020
o Guide to the Insolvency & Bankruptcy Code (Amendment)
Act, 2020
o Comprehensive Guide to the Insolvency and Bankruptcy
Code, 2016
o Table showing enforcement of provisions of the Insolvency &
Bankruptcy Code, 2016 from different dates
- Rossi reported financial results for 2Q12 and 1H12, with contracted sales down 18-21% year-over-year due to reduced launches.
- The company launched new business areas called Rossi Commercial Properties and Rossi Urbanizadora to diversify operations.
- Rossi Commercial Properties currently has a portfolio of 17 retail development projects representing 169,000 square meters of total leasable area across multiple formats.
- The presentation provided an overview of Rossi's operating and financial performance in recent quarters, including breakdowns of launches, sales, inventory, land bank, and indebtedness.
This document discusses the risk management system at MOSL & Literacy for derivatives and commodity trading in Ahmedabad, India. It outlines the objectives of studying the firm's risk management and literacy levels. Various risks for investors and the firm are identified. The risk management process involves identifying, analyzing, planning for, controlling, and communicating risks. MOSL sets exposure limits for clients based on factors like market conditions, client history, account position, risk profile, and income. The document also analyzes investors' preferences for trading instruments, sources of learning, and the most preferred broking firms.
Export procedure-and-documentation-project-report-onJigesh Soni
The document discusses setting up an export organization and obtaining necessary registrations and licenses. It outlines how to choose an appropriate business structure like sole proprietorship, partnership, or private limited company based on factors like ability to raise funds and manage risk. It also describes registering for an Importer Exporter Code (IEC) number, which is mandatory for exporting or importing. Exemptions to IEC registration are also listed. The key steps to set up an export organization include opening a bank account, choosing an organizational structure, obtaining an IEC number, and registering for identity cards to facilitate transactions with export authorities.
This document provides a summary of various tax-free and taxable bonds available for retail investors in India. It includes details such as the issuer, bond series, coupon rate, tenure, credit rating, last traded price and yield for each bond. The average daily trading volumes and yield to maturity are also specified. The document concludes with notes on credit ratings, listings, face values and other terms for retail investors to be aware of.
This book is a ‘do-it-yourself’ guide for aspiring GST Practitioners, where legal provisions are provided in a concise & precise manner, without tampering with the intent and spirit of the GST Laws.
The Present Publication is the 4th Edition, amended up to 27th August 2020, with the following noteworthy features:
· Bulleted explanation on the entire gamut of GST Laws
· Includes Section-Wise key points containing provisions of the
CGST Act, SGST Act, IGST Act, UTGST Act, GST
(Compensation) Act and Rules with comments
· Coverage of 5,500 + MCQs
· Provides for the reasoning for the MCQ’s for more clarity
· Tables, flowcharts & diagrams for easy understanding of the
GST Laws
· All the latest developments in the GST Laws including latest
Circulars, Order & Notifications issued up to 27th August, 2020
· Contents of the books are as follows:
o GST Basics
o Preliminary
o IGST Act, 2017
o GST (Compensation to States) Act, 2017
o Industry-Specific Provisions
o Appendices
§ Form GSTR-9
§ Form GSTR-9C
- The Chairman's message discusses the headwinds faced globally from the pandemic and ongoing war, including inflationary pressures and rising commodity prices. It emphasizes the need for resilience, entrepreneurship and agility.
- FY 2021-22 was a high note for Raymond Group, with highest ever EBITDA and net profit on a consolidated basis in the last 10 years. This was achieved through a focus on fundamentals like revenue, costs and working capital for each business.
- Significant cost reductions of ₹453 crores from pre-COVID levels and better profitability and working capital management helped generate free cash flows and reduce debt drastically. Key actions were taken during the year to lay a strong foundation.
Muthoot Finance is India's largest gold loan NBFC. It provides gold loans to individuals and businesses, with over 3,000 branches across India. Muthoot has been successful due to its large branch network in Southern India, where 85-90% of gold loans are concentrated. It offers gold loans with quick processing, minimum documentation, and lower interest rates than other lenders. While dependent on gold prices, Muthoot has consistently grown its revenues and profits over the past years through its market leading position in the gold loan industry.
The document discusses Small and Medium Enterprises (SMEs) in India. It defines SMEs and provides investment thresholds for classifying enterprises as micro, small, or medium. SMEs make up a large portion of the Indian economy, contributing significantly to GDP, exports, and employment. The government supports SMEs through various schemes to aid financing, infrastructure development, skill development, and more in order to promote their growth and address challenges. SMEs play a vital role in the Indian economy.
The document discusses Small and Medium Enterprises (SMEs) in India. It defines SMEs and provides investment thresholds for micro, small, and medium enterprises in the manufacturing and services sectors. It outlines the importance of SMEs for employment, exports, and regional development in India. It also discusses various schemes and support provided by the Government of India to promote SME growth, including credit guarantees, infrastructure development, skill development, and cluster development programs.
Similar to Taxmann's FEMA & FDI Ready Reckoner (20)
GST Made Easy provides an Updated, Comprehensive & Simplified Analysis of each provision of the GST Law. The objective behind this book is that the understanding of GST should be as easy as ABC. This book provides answers to all your practical queries on GST.
The Present Publication is the 10th Edition, authored by CA (Dr.) Arpit Haldia & updated till 15th June 2021, with the following noteworthy features:
• [Focus on Analysis of Substantive Provisions of the GST Law] such as supply, time of supply, place of supply, value of supply, input tax credit, etc.
• [Guidance on all Procedural Provisions] relating to registration, composition scheme, returns, liability to pay tax, etc.
• [Coverage of Provisions of the GST Law] such as assessment, demand & recovery, refunds, e-way bill, job work, etc.
The contents of the book are as follows:
• Introduction
• An Overview of GST
• Person Liable to Pay Tax in GST
• Registration in GST
• What is Supply
• Time of Supply of Goods
• Time of Supply of Services
• Value of Supply
• Place of Supply
• Determination of Supply in the Course of Inter-State Trade or Commerce or Intra-State Supplies
• Job Work
• Invoice, Credit and Debit Notes
• Input Tax Credit
• Payment of Taxes
• Brief about Persons requiring Mandatory Registration
• Composition Levy – For Supplier of Goods and for Persons Engaged in Making Supplies Referred to in Clause (b) of Paragraph 6 of Schedule II
• Returns
• Assessment
• Refund
• Accounts and Records
• E-Way Bill
• Advance Ruling
• Composition Scheme for Services or Mixed Suppliers
• Demand and Recovery
• Penalty
• Rule 86B – Payment of 1% of Output Liability in Cash
Taxmann's Guide to SARFAESI Act 2002 & Recovery of Debts and Bankruptcy Act 1993Taxmann
This document provides an overview of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). It discusses the background and objectives of the Act, key features such as enforcement of security, securitization, and asset reconstruction. It also examines related topics such as the constitutional validity of the Act, applicability to different entities, and interactions with other laws like the Recovery of Debts and Bankruptcy Act, 1993 and Insolvency and Bankruptcy Code, 2016. The document outlines the procedures for enforcement of security, sale of secured assets, appeals and penalties under the SARFAESI Act.
Taxmann's LLP Manual is a compendium Amended, Updated & Annotated text of the Limited Liability Partnership Act, 2008 (as amended by the Limited Liability Partnership (Amendment) Act, 2021) along with Rules, Circulars, and Notifications.
This book is divided into four divisions:
• Limited Liability Partnership Act, 2008
• Limited Liability Rules
• Circulars & Notifications
• Foreign Direct Investment in Limited Liability Partnership
The Present Publication is the 8th Edition & amended up to 13th August 2021, authored by Taxmann's Editorial Board, with the following noteworthy features:
• [List of Amendments, at a glance] made by the Limited Liability Partnership (Amendment) Act, 2021
• [Short Commentary] on the following:
◦ Limited Liability Partnership (Amendment) Act, 2021
◦ Limited Liability Partnership Act, 2008
• [Integrated LLP Rules, Circulars & Notifications, FDI Policy, FEMA Regulations]
◦ Limited Liability Partnership Rules, 2009 as amended up to date
◦ Limited Liability Partnership (Winding up and Dissolution) Rules, 2012
◦ Text of LLP Circulars & Notifications
◦ FDI Policy related to LLPs
◦ FEMA Regulations & Schedules related to LLPs
• [Taxmann's series of Bestseller Books] on LLP Laws
• [Follows the six-sigma approach] to achieve the benchmark of 'zero error'
GST Investigations Demands Appeals & Prosecution aims to cover the past & emerging jurisprudence on the subject matter along with a lucid commentary on the statutory provisions under the GST Law relating to the following:
• GST Inspection
• GST Search
• GST Seizure
• GST Detention
• GST Audit
• GST Confiscation
• GST Penalty
• GST Show Cause Notice
• GST Adjudication
• GST Appeals
• GST Revision
• GST Prosecution
• GST Compounding
The objective of this book is to sensitize both taxpayers and tax officers of their rights and obligations when:
• Investigations are undertaken;
• Records and documents are seized;
• Officials from companies are summoned, and
• Statements are recorded.
This book will be helpful for taxpayers, departmental officers, members of the bar & bench, professionals and the judiciary to appreciate the intricate points and issues arising out of implementation of the relevant provisions conferring wide powers on the officers.
The Present Publication is the Latest Edition, authored by Dr. Gokul Kishore & R. Subhashree & amended up to July 2021, with the following noteworthy features:
• [Commentary/Practical Guide] This book is intended to serve as a commentary and also a practical guide to all stakeholders on the provisions and issues emerging from various orders passed by High Courts on search, summons, arrest, bail, provisional attachment, demands, penalty and confiscation
• [Analysis of the Statutory Provisions featuring Landmark Cases & Recent Orders] GST is in force for only four years. Still, instances of the use of powers of search and seizure have been increasingly visible. This book analyses the provisions along with both the landmark cases on this subject as well as the recent orders under GST law.
• [Analysis includes the Previous & Current Regime of Indirect-taxes] While arrest and prosecution powers have been in the statute book under the pre-GST tax laws, the frequency of invocation of such powers in the GST regime is high. Various orders on bail, conditions for bail and validity of arrest passed by High Courts have been discussed to comprehend the scope, limitations and interpretation of the provisions
• [Threadbare Analysis with Established Jurisprudence & Principles Evolved over the Years] Proceedings for recovery of tax commences with demand notice or show cause notice followed by adjudication order, and the dispute is carried in an appeal if either party is aggrieved. The provisions under GST law on demands, adjudication, appeals, revision and recovery action have been subjected to threadbare analysis with the help of established jurisprudence and principles evolved over the years
Taxmann's GST Law & Practice is a unique/concise book on the GST Laws (i.e., Statutory Portion & Case Laws). Coverage of the book is as follows:
• Central Goods and Services Tax Act 2017 (CGST)
• Integrated Goods and Services Tax Act 2017 (SGST)
• Goods and Services Tax (Compensation to States) Act 2017
• Classification of Goods & Services
What sets it apart is the 'unique way of presenting' the compendium of 'updated, amended & annotated' text of the CGST & SGST Acts along with relevant Rules, Notifications, Forms, Circulars, Clarifications, and Case Laws. In other words, read the Section & get the following:
• Text of the relevant Rules & Notifications
• The gist of the relevant Circulars
• Date of enforcement of provisions
• Allied Laws referred to in the provision
• Gist of relevant Case Laws with an easy-to-understand summary
This book also includes Case Laws on the classification of goods & services under the GST regime in a separate division.
The Present Publication is the 2nd Edition, amended up to July 2021, authored by CA (Dr.) Arpit Haldia & CA Mohd. Salim, with the following noteworthy features:
• [Taxmann's series of Bestseller Books] on GST Laws
• [Follows the six-sigma approach] to achieve the benchmark of 'zero error.'
The detailed contents of the book are as follows:
• Central Goods & Services Tax Act 2017
◦ Arrangement of Sections
◦ Arrangement of Rules
◦ Text of the Central Goods & Services Tax Act, 2017
◦ Removal of Difficulties Order
◦ Text of Provisions of Allied Acts referred to in Central Goods & Services Tax Act, 2017
◦ Subject Index
• Integrated Goods & Services Tax Act 2017
◦ Arrangement of Sections
◦ Arrangement of Rules
◦ Text of the Integrated Goods & Services Tax Act, 2017
Subject Index
• Goods and Services Tax (Compensation to States) Act 2017
◦ Arrangement of Sections
◦ Text of the Goods and Services Tax (Compensation to States) Act, 2017
◦ Subject Index
• Classification of Goods & Services
◦ Classification of Goods
◦ Classifications of Services
This standard provides guidance on accounting for property, plant and equipment (PPE), which typically constitute a significant portion of total assets. It discusses capitalization of expenditures on PPE, depreciation, retirement and disposal of PPE. These have a material impact on balance sheet and profit and loss statement. The standard scopes in tangible items held for use in production/supply of goods/services, rental to others or for administrative purposes, which are expected to be used for more than one period.
GST Exports-Imports & Deemed Exports is a harmonious blend of the following laws:
• GST
• Customs
• Foreign Trade Policy
• Allied Laws
This book aims to consolidate & explain different provisions of the law and subsequent procedural changes such as Notifications, Circulars, Instructions and Trade Notices issued by CBIC and DGFT, along with relevant Advance Rulings with regards to Imports, Exports, Deemed Exports under different laws.
This book is intended to help the trade and industry dealing with exports, imports and deemed exports for compliance with the legal requirements and avail the benefits under various provisions of the Foreign Trade Policy, Customs and GST laws with better understanding and appreciation of the intricacies.
The Present Publication is the 2nd Edition, authored by Kaza Subrahmanyam & T.N.C. Rajagopalan, with the following coverage:
• [Conceptual Understanding of provisions of Imports and Exports] of Goods & Services
• [Meaning of Zero Rated Supply along with Refunds] for Physical Exports and Deemed Exports under GST
• [Treatment of supplies by and to EOU/SEZ unit or SEZ Developer/FTWZ] along with Special Exemptions/Concessions and procedural requirements
• [Foreign Trade Policy] under GST
Guide to Customs Valuation is a complete and comprehensive commentary on laws relating to valuation under Customs laws. It is a brief, concise and handy reference book, which provides the updated and simplified analysis of provisions to determine valuation under the Customs laws.
This book will be helpful for Customs Consultants, Advocates, Corporate Managers & Departmental Officers.
This book is divided into two parts:
• Valuation of Imported Goods
• Valuation of Export Goods
The Present Publication is the Latest Edition, authored by H.K. Maingi, amended up to July 2021, with the following noteworthy features:
• [Conceptual Understanding of Valuation] Conceptual understanding of provisions of Valuation under Section 14 of Customs Act and Customs Valuation (Determination of Value of Export Goods) Rules, 2007
• [Valuation] Valuation of Imported Goods & Exported Goods, Valuation in case of High Sea Sales & related persons, Valuation of capital goods on debonding, etc.
• [Various Additions in Transaction Value] Various additions in Transaction Value such as Brokerage, Service Charge, Transportation, etc.
• [Other Concepts] Concepts of related persons, under-invoicing and over-invoicing, Special Valuation Branch, etc.
This edition covers everything you need to understand about the provisions of Valuation under Customs in a subtle and simplified language.
The detailed coverage of the book is as follows:
• Introduction
• Valuation of Imported Goods
◦ Transaction Value
◦ Transaction Value to be Accepted in the Absence of Condition and Restriction under Rule 3(2)
◦ Contract Prices and Transaction Value
◦ High Sea Sales and Transaction Value
◦ Related Persons
◦ Transaction Value of Identical or Similar Goods and Contemporaneous Imports
◦ Deductive Value
◦ Computed Value
◦ Residual Method
◦ Reliance on Foreign Journals indicating International Prices for Determining Assessable Value
◦ Addition to Transaction Value Royalty, Licence and Technical Know-How Fees
◦ Other Addition to Transaction Value
◦ Declaration by the Importer
◦ Rejection of Declared Value
◦ Investigation by Special Valuation Branch
• Valuation of Export Goods
◦ Export Valuation
◦ Under-Invoicing and Over-Invoicing of Exports
◦ Customs Valuation (Determination of Value of Export Goods) Rules, 2007
◦ Inclusion/Exclusion Duty Element from Cum Duty Price
◦ Valuation of Goods Sold in DTA from EOU and Debonding of Capital Goods from EOU
Taxmann's MCQs and Integrated Case Studies on Corporate & Economic LawsTaxmann
MCQs & Integrated Case Studies on Corporate & Economic Laws are prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 6th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Knowledge Based & Application Based MCQs] as per the pattern applicable for the exams
• Includes the following types of MCQs in a Separate Section in Each Chapter:
◦ RTPs & MTPs
◦ Past Exam Questions
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Amendment) Act, 2020
◦ Companies (Appointment and Qualifications of Directors) 5th Amendment Rules, 2020
◦ Schedule V of the Companies Act, 2013
◦ Master Directions – External Commercial Borrowings (Updated as of 12th April 2021)
◦ Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
◦ Foreign Contribution (Regulation) Amendment Act, 2020
◦ Arbitration and Conciliation (Amendment) Act, 2021
◦ Insolvency and Bankruptcy (Amendment) Ordinance, 2021
Also Available:
• [7th Edition] of Taxmann’s Corporate & Economic Laws (New Syllabus)
• [7th Edition] of Taxmann’s CRACKER cum Exam Guide on Corporate & Economic Laws (New Syllabus)
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies + Class Notes
Contents of this book are as follows:
• Appointment and Qualifications of Directors
• Meeting of the Board and its Powers
• Appointment and Remuneration of Managerial Personnel
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression & Mismanagement
• Winding Up
• Companies Incorporated Outside India
• Miscellaneous Provisions
• Adjudication and Special Courts
• NCLT and NLCAT
• Corporate Secretarial Practice
• Securities Contracts (Regulation) Act, 1956 and SCR Rules, 1957 | Deleted from Syllabus
• Securities and Exchange Board of India Act, 1992 & SEBI (LODR) Regulations, 2015
• Foreign Exchange Management Act, 1999
• Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act, 2002) | Deleted from Syllabus
• Prevention of Money Laundering Act, 2002
• Foreign Contribution (Regulation) Act, 2010
• Arbitration and Conciliation Act, 1996
• Insolvency and Bankruptcy Code, 2016
• Integrated Case Studies
Taxmann’s CRACKER for Corporate & Economic Laws is prepared exclusively for the Final Level of Chartered Accountancy Examination requirement. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 7th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, authored by Pankaj Garg, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [600+ Questions and Case Studies] with complete answers
• Coverage of this book includes:
• All Past Exam Questions
▪ CA Final July 2021 (New Syllabus) – Suggested Answers
◦ Questions from RTPs and MTPs of ICAI
• [Chapter-wise] marks distribution for Past Exams
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Amendment) Act, 2020
◦ Companies (Appointment and Qualifications of Directors) fifth Amendment Rules, 2020
◦ Schedule V of the Companies Act, 2013
◦ Master Directions – External Commercial Borrowings (Updated as of 12th April 2021)
◦ Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021
◦ Foreign Contribution (Regulation) Amendment Act, 2020
◦ Arbitration and Conciliation (Amendment) Act, 2021
◦ Insolvency and Bankruptcy (Amendment) Ordinance, 2021
Also Available:
• [7th Edition] of Taxmann’s Corporate & Economic Laws (New Syllabus)
• [6th Edition] of Taxmann’s MCQs & Integrated Case Studies on Corporate & Economic Laws (New Syllabus)
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies
Contents of this book are as follows:
• Appointment and Qualifications of Directors
• Meeting of the Board and its Powers
• Appointment and Remuneration of Managerial Personnel
• Inspection, Inquiry and Investigation
• Compromises, Arrangements and Amalgamations
• Prevention of Oppression & Mismanagement
• Winding Up
• Companies Incorporated Outside India
• Miscellaneous Provisions
• Adjudication and Special Courts
• National Company Law Tribunal and Appellate Tribunal
• Corporate Secretarial Practice – Drafting of Notices, Resolutions, Minutes & Reports
• Securities Contracts (Regulation) Act, 1956 and SCR Rules, 1957 (Deleted from syllabus)
• Securities and Exchange Board of India Act, 1992 & SEBI (LODR) Regulations, 2015
• Foreign Exchange Management Act, 1999
• Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act, 2002)
• Prevention of Money Laundering Act, 2002
• Foreign Contribution (Regulation) Act, 2010
• Arbitration and Conciliation Act, 1996
• Insolvency and Bankruptcy Code, 2016
This book provides a para-wise commentary on Companies (Auditor’s Report) Order. It is a complete guide on the applicability and the matters that need to be reported by an Auditor on CARO.
This book is divided into three divisions:
• CARO Reporting under CARO, 2020 (Applicable from Financial Year 2021-22)
• CARO Report on Consolidated Financial Statements under CARO, 2020
• CARO Reporting under CARO, 2016 (Applicable for Financial Year 2021-22)
This book will be helpful for Auditors
The Present Publication is the 8th Edition, amended up to 30th June 2021, authored by CA Srinivasan Anand G., with the following noteworthy features:
• [FAQs & Case Studies]
◦ CARO 2016
◦ CARO 2020
• [Amended Schedule II] Related disclosure requirements
• [Clause-wise Ready Reckoner] on CARO 2020
• Review of earlier versions of CARO to do a quick comparison(s)
• [In a Nushell] CARO 2020
• Relevant Provisions of Companies Act, 2013
Taxmann's Indian Accounting Standards (Ind AS)Taxmann
Indian Accounting Standards (Ind AS) contains the updated Indian Accounting Standards issued under the Companies (Indian Accounting Standard) Rules, 2021.
It provides a complete understanding of the definitions, entities liable to apply Ind AS, and exemptions.
The Present Publication is the 2nd Edition, authored by Taxmann’s Editorial Board, updated till 30th June 2021, with the following noteworthy features:
• [Text of Indian Accounting Standard (Ind AS)] notified under Companies (Indian Accounting Standard) Rules, 2021;
• [Guide for Definitions] in Indian Accounting Standards
• [Guide on Applicability] of Indian Accounting Standards
• [Guide on Obligations to Comply with] in Indian Accounting Standards
• [Guide on Exemptions/Relaxations] in Indian Accounting Standards
The contents of the book are as follows:
• Arrangement of Rules
◦ Short Title and Commencement
◦ Definitions
◦ Applicability of Accounting Standards
◦ Obligation to Comply with Indian Accounting Standards (Ind AS)
◦ Exemptions
• General Instructions
• Indian Accounting Standards (Ind AS)
Taxmann's Indian Competition Law is a section-wise commentary on Competition Law. What sets this book apart is the unique combination of the study of both substantive and procedural elements of Competition Law in India.
The objective of this book is three-fold:
• Focusing on Indian Competition Law, elucidating the Indian jurisprudence and then comparing it with positions taken by European Union (EU) and the United States
• This book does not get restricted to the major provisions/broader issues of competition law but also highlights economic, technical and administrative concepts/issues that are relevant in the practical application and interpretation of competition law
• This book does not become a technical treatise but a document that a wider audience can read and understand, including lawyers, judges, academicians, lawmakers, market regulators, & entrepreneurs.
The Present Publication is the Latest Edition, authored by Adv. Gautam Shahi & Dr. Sudhanshu Kumar, amended up to 30th May 2021, with the following noteworthy features:
• [Detailed Study on Fundamental Issues] including:
o Anti-Competitive Agreements
o Abuse of Dominant Position
o Combinations (Acquisitions and Mergers)
• [Evolution of Competition Jurisprudence] in India
• [Comparitive Assessment] of major issues in Indian competition law with vis-à-vis EU, UK, and the USA
• [Exhaustive Analysis] on Rules, Regulations, Guidance issued by CCI & Case Laws decided by the CCI, COMPAT (now NCLAT), High Courts, and the Supreme Court
• [Interaction of Competition Act with other Laws] such as:
o Administrative Law
o Intellectual Property Laws
o Telecom Laws
This document is the contents page and introduction for a book on Competition Law in India published by Taxmann Publications Pvt. Ltd. It provides an overview of the book's organization, outlines the various divisions covering the Competition Act of 2002 and associated rules and regulations, and includes standard copyright and disclaimer information for publications.
Taxmann's CLASS NOTES | Direct Tax Laws and International TaxationTaxmann
Taxmann’s CLASS NOTES for Direct Tax Laws & International Taxation is a one-stop solution to conquer the vast subject of Direct Taxation with ease. The objective behind this book is to minimize the need to consult multiple voluminous books while revising the day before the exam.
This book aims at providing all concepts in a simple language, with proper linking and a smart sequential approach. It also explains the provision of the law without resorting to paraphrasing of sections or legal jargons.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [Pictorial Presentation/Charts with Handwritten Fonts] are used in the book for easy understanding of theoretical concepts
• [Multi-Colour Coded Book] which follows the below structure:
◦ Blue – Heading
◦ Black – Main Content
◦ Red – Summarised version of the main content
◦ Green – Amendments applicable for the examination
◦ Yellow Highlights – Key adjustments to be highly cautious of; ‘The Accident-Prone Zones’
◦ Blue Boxes – Significant selected Case Laws provided by ICAI
◦ Green Boxes – Authors personal notes for better understanding and clarity
• [Amendments for November 2021 Examination] are provided at the end of the module
Also Available:
• [65th Edition] of Taxmann’s Direct Taxes Law & Practice with special reference to Tax Planning
• [2nd Edition] of Taxmann’s Direct Tax Laws & International Taxation (2 Vols.)
• [2nd Edition] of Taxmann’s CRACKER cum Compiler – Direct Tax Laws & International Taxation
Taxmann's Problems & Solutions for Direct Tax Laws & International TaxationTaxmann
Taxmann's PROBLEMS & SOLUTIONS for Direct Tax Laws & International Taxation is a compilation of questions & MCQs (prepared using handwritten fonts) from the educational materials, RTPs, MTPs and past examination papers of both old & new syllabus of ICAI (up to 30th April 2021). These are aligned with provisions applicable for Nov. 2021 Exams and are arranged Topic-wise & Chapter-wise with proper reference to the paper as well as attempt for convenience and trend analysis.
The Present Publication is the 2nd Edition (For New Syllabus) & Updated till 30th April 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:
• [Coverage of All Questions & MCQs] in handwritten fonts
◦ For Old/New Syllabus; issued up to 30th April 2021, from the following:
▹ Educational Material of ICAI
▹ RTPs & MTPs of ICAI
▹ Past Examination Papers of ICAI
◦ The above Questions & MCQs are aligned with applicable provisions for November 2021 examination
◦ Arranged 'Topic-wise' & 'Chapter-wise' with proper reference to paper as well as attempt for convenience and trend analysis
• [Ready Reckoner for the day before the exam] Special adjustments tested by ICAI have been summarised at the start of the book
Also Available:
• [65th Edition] of Taxmann's Direct Taxes Law & Practice with special reference to Tax Planning
• [2nd Edition] of Taxmann's Direct Tax Laws & International Taxation (2 Vols.)
• [2nd Edition] of Taxmann's CRACKER cum Compiler – Direct Tax Laws & International Taxation
The contents of the book are as follows:
• Summary of Special Adjustments
• Part A – Direct Taxation
◦ Basics of Income Tax
◦ Special Tax Regime
◦ Taxation of Agriculture Income
◦ Income from Salary
◦ Income from House Property
◦ Profits and Gains of Business or Profession
◦ Capital Gains
◦ Taxation of Business Re-Organisations
◦ Taxation of Distribution to Owners
◦ Income from Other Sources
◦ Taxation of Dividends & Income from Units
◦ Comprehensive Questions
◦ Assessment of Firms & LLP
◦ Assessment of AOP & BOI
◦ Assessment of Non-Profit Organization (NPO) & Exit Tax
◦ Assessment of Business Trust
◦ Assessment of Other Persons
◦ Taxation of Unexplained Income
◦ Clubbing of Income
◦ Set-Off and Carry Forward of Losses
◦ Exemptions & Sec. 10AA Deductions
◦ Chapter VI-A Deduction
◦ Minimum Alternate Tax [Section 115JB] & Alternate Minimum Tax [Section 115JC]
◦ TDS & TCS
◦ Payment of Taxes & Return Filing
◦ Assessment Procedure
◦ Appeals & Revisions
◦ Settlement Commission
◦ Tax Planning, Avoidance & Evasion
◦ Penalties, Offence & Prosecution
◦ Liability in Special Cases
◦ Statement of Financial Transactions (SFT) & Miscellaneous Provisions
• Part B – International Taxation
◦ Transfer Pricing & Related Provisions
◦ Residential Status & Scope of Total Income
◦ Non-Resident Taxation
• Part C – Suggested Answers (Amended as Applicable for A.Y. 2021-22)
Taxmann's 20 REVISED DUE DATES under Income-tax ActTaxmann
In view of the COVID-19 pandemic, the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TLA Act, 2020) has extended various due dates of compliances. The due dates so extended by the TLA Act, 2020 have been extended again on multiple occasions by the CBDT. The CBDT has again extended the due dates for certain compliances and has also announced to provide tax exemption for the expenditure incurred by the taxpayers on COVID-19 treatment. Further, the ex-gratia or any compensation received by the family members of any person who succumbed to COVID-19 will be exempt from tax. The impact of new notifications and circulars on various time barring dates and certain compliance of the Income-tax Act are discussed in the below paragraph.
Taxmann's MCQs and Integrated Case Studies on Advanced Auditing and Professio...Taxmann
1. ABC Ltd is a leading pharmaceutical company acquired by XYZ Ltd 5 years ago. XYZ Ltd holds 75% shares of ABC Ltd.
2. The governments of Punjab, Haryana and Rajasthan collectively hold 51.5% shares of XYZ Ltd.
3. The auditor of ABC Ltd, Mr. Shyam, resigned on 29th Oct 2020 due to medical reasons but failed to inform the authorities.
4. RMT & Co was appointed to fill the casual vacancy created by Mr. Shyam's resignation as statutory auditor of ABC Ltd.
Taxmann's CRACKER | Advanced Auditing & Professional EthicsTaxmann
Taxmann’s CRACKER for Advanced Auditing & Professional Ethics is prepared exclusively for the requirement of the Final Level of Chartered Accountancy Examination. It covers the entire revised, new syllabus as per ICAI.
The Present Publication is the 8th Edition & Updated till 30th April 2021 for CA-Final | New Syllabus, with the following noteworthy features:
• Strictly as per the New Syllabus of ICAI
• [1,000+ Questions and Case Studies] with complete answers
• [ICAI Examiner Comments] along with Past Exam Questions are included
• Coverage of this book includes:
◦ All Past Exam Questions
▪ CA Final November 2020 (New Syllabus) – Suggested Answers
▪ CA Final January 2021 (New Syllabus) – Suggested Answers
◦ Questions from RTPs and MTPs of ICAI
• [Point wise] answers for easy learning
• [Chapter-wise] marks distribution for Past Exams
• [Most Updated & Amended] This book is updated & amended as per the following:
◦ Companies (Audit and Auditor’s) Amendment Rules, 2021
◦ Companies (Amendment) Act 2020
◦ Companies (Auditor’s Report) Order 2020
◦ SEBI (LODR) Regulation 2015
◦ Form 3CD and Form GSTR 9C (Revised)
◦ Finance Act 2021
◦ Revised Code of Ethics
◦ Revised Statement of Peer Review 2020
Also Available:
• [8th Edition] of Taxmann’s Textbook for Advanced Auditing & Professional Ethics (New Syllabus)
• [6th Edition] of Taxmann’s MCQs & Integrate Case Studies on Advanced Auditing & Professional Ethics (Old/New Syllabus)
• [1st Edition] Taxmann’s Quick Revision Charts for Advanced Auditing & Professional Ethics
• Taxmann’s Combo for Textbook + Cracker + MCQs & Integrated Case Studies
The contents of the book are as follows:
• Quality Control and Engagement Standards
• Audit Planning, Strategy and Execution
• Risk Assessment and Internal Control
• Audit in an Automated Environment
• Professional Ethics
• Company Audit
• Audit Reports
• CARO 2020
• Audit of Consolidated Financial Statements
• Audit of Dividend
• Audit Committee and Corporate Governance
• Liabilities of Auditors
• Internal Audit
• Management and Operational Audit
• Audit under Fiscal Laws
• Due Diligence, Investigation & Forensic Audit
• Peer Review & Quality Review
• Audit of Banks
• Audit of Non-Banking Finance Companies
• Audit of Insurance Companies
• Audit of Public Sector Undertakings
• Questions on Ind-AS
• Questions on Schedule III
Taxmann's Webinar on Concept of Fixed Establishment under Indian GST – Decodi...Taxmann
The concept of ‘Fixed Establishment’ (FE) is essential for determining various requirements under the GST law including the registration requirement. The definition of FE given under the GST law is neither conclusive nor it has been explored before the Courts in India. The said definition is similar to that given under the EU VAT.
Taxmann organized the first of its kind webinar where our Research & Advisory team discussed the concept of fixed establishment under the Indian GST alongside a renowned speaker from Spain Mr. Gallardo who discussed about the definition from EU VAT perspective. Let's hear and understand the concept of fixed establishment along with settled principles of EU VAT.
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Corporate Governance : Scope and Legal Frameworkdevaki57
CORPORATE GOVERNANCE
MEANING
Corporate Governance refers to the way in which companies are governed and to what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company.
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
Pedal to the Court Understanding Your Rights after a Cycling Collision.pdfSunsetWestLegalGroup
The immediate step is an intelligent choice; don’t procrastinate. In the aftermath of the crash, taking care of yourself and taking quick steps can help you protect yourself from significant injuries. Make sure that you have collected the essential data and information.
Safeguarding Against Financial Crime: AML Compliance Regulations DemystifiedPROF. PAUL ALLIEU KAMARA
To ensure the integrity of financial systems and combat illicit financial activities, understanding AML (Anti-Money Laundering) compliance regulations is crucial for financial institutions and businesses. AML compliance regulations are designed to prevent money laundering and the financing of terrorist activities by imposing specific requirements on financial institutions, including customer due diligence, monitoring, and reporting of suspicious activities (GitHub Docs).
सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
4. ACRONYMS USED IN FEMA & FDI I-9
CHAPTER 1
FEMA - OVERVIEW 1
CHAPTER 2
AUTHORISED PERSON UNDER FEMA 8
CHAPTER 3
ACCOUNTS IN INDIA BY PERSON RESIDENT OUT OF INDIA 16
CHAPTER 4
ACCOUNTS OF INDIAN RESIDENTS IN FOREIGN CURRENCY 29
CHAPTER 5
RECEIPT AND PAYMENT IN FOREIGN EXCHANGE 40
CHAPTER 6
REALISATION, REPATRIATION AND SURRENDER OF FOREIGN
EXCHANGE 45
CHAPTER 7
MONEY CHANGING ACTIVITIES 48
CHAPTER 8
MONEY TRANSFER SERVICE SCHEME (MTSS) 60
CHAPTER 9
POSSESSION AND RETENTION OF FOREIGN CURRENCY 65
CHAPTER 10
EXPORT AND IMPORT OF CURRENCY OR CURRENCY NOTES 67
CHAPTER 11
REMITTANCES ON CURRENT ACCOUNT 71
0!'%
I-5
Contents
5. CHAPTER 12
LIBERALISED REMITTANCE SCHEME (LRS) 86
CHAPTER 13
EXPORT OF GOODS AND SERVICES 94
CHAPTER 14
IMPORT OF GOODS AND SERVICES 133
CHAPTER 15
PROJECT EXPORTS AND SERVICE EXPORTS 155
CHAPTER 16
FOREIGN EXCHANGE RATES 157
CHAPTER 17
OVERVIEW OF CAPITAL ACCOUNT TRANSACTIONS 164
CHAPTER 18
FOREIGN INVESTMENT IN INDIA 169
CHAPTER 19
FDI IN INDIAN COMPANY 178
CHAPTER 20
SECTOR WISE FDI POLICY AT A GLANCE 199
CHAPTER 21
FDI - DOWNSTREAM INVESTMENT I.E. INDIRECT INVESTMENT 208
CHAPTER 22
FDI THROUGH RIGHTS, BONUS, SWEAT EQUITY OR MERGER/
AMALGAMATION 215
CHAPTER 23
FDI - TRANSFER OF SECURITIES 221
CHAPTER 24
FDI IN LLP 236
CHAPTER 25
FDI IN GDR/ADR 239
CHAPTER 26
INVESTMENT BY NRI OR OCI 245
#/.4%.43 I-6
0!'%
6. CHAPTER 27
FDI IN STARTUP COMPANY 259
CHAPTER 28
INVESTMENT BY FOREIGN PORTFOLIO INVESTOR 262
CHAPTER 29
FDI IN INVESTMENT VEHICLE 269
CHAPTER 30
FDI BY FVCI 272
CHAPTER 31
FDI - INVESTMENT IN SECURITIES BY FUNDS, FOREIGN
CENTRAL BANK ETC. 275
CHAPTER 32
INVESTMENT BY INDIAN ENTITY IN JV/WOS ABROAD 277
CHAPTER 33
GUARANTEES 306
CHAPTER 34
INSURANCE 311
CHAPTER 35
BORROWING AND LENDING IN FOREIGN CURRENCY 319
CHAPTER 36
BORROWING AND LENDING IN INDIAN RUPEES 324
CHAPTER 37
FOREIGN INVESTMENT IN DEBT INSTRUMENTS 331
CHAPTER 38
EXTERNAL COMMERCIAL BORROWINGS 342
CHAPTER 39
TRADE CREDIT (TC) AND STRUCTURED OBLIGATIONS 358
CHAPTER 40
ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY IN
INDIA 365
I-7 #/.4%.43
0!'%
7. CHAPTER 41
ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY OUT
OF INDIA 371
CHAPTER 42
REMITTANCE OF ASSETS 373
CHAPTER 43
BRANCH/LO/PROJECT OFFICE IN INDIA BY FOREIGN ENTITIES 377
CHAPTER 44
INDIAN DEPOSITORY RECEIPTS 393
CHAPTER 45
RISK MANAGEMENT AND INTER-BANK DEALINGS 400
CHAPTER 46
VOSTRO ACCOUNT OF NON-RESIDENT EXCHANGE HOUSES 403
CHAPTER 47
INDUSTRIAL POLICY OF GOVERNMENT OF INDIA 406
CHAPTER 48
ENFORCEMENT OF FEMA 412
CHAPTER 49
PENALTIES UNDER FEMA 415
CHAPTER 50
APPEALS UNDER FEMA 421
CHAPTER 51
COMPOUNDING OF CONTRAVENTIONS UNDER FEMA 425
CHAPTER 52
PREVENTION OF MONEY LAUNDERING ACT 437
CHAPTER 53
FOREIGN CONTRIBUTION (REGULATION) ACT (FCRA) 470
CHAPTER 54
COFEPOSA, 1974 496
SUBJECT INDEX 511
#/.4%.43 I-8
0!'%
43. Banks should not finance to facilitate capital account remittances
ANKS
SHOULD
NOT
EXTEND
ANY
KIND
OF
CREDIT
FACILITIES
TO
RESIDENT
INDIVIDUALS
TO
FACILITATE
CAPITAL
ACCOUNT
REMITTANCES
UNDER
THE
3CHEME
0ARA
!
OF
2)
$%$
-ASTER
$IRECTION
.O
DATED
12.2-2 LRS for current account transactions
4HE
,23
LIMIT
OF
53$
78. ,23
CAN
BE
USED
FOR
FOLLOWING
PURPOSES
Purchase of objects or art
2EMITTANCES
UNDER
THE
3CHEME
CAN
BE
USED
FOR
PUR-
CHASING
OBJECTS
OF
ART
SUBJECT
TO
THE
PROVISIONS
OF
OTHER
APPLICABLE
LAWS
SUCH
AS
THE
EXTANT
OREIGN
4RADE
0OLICY
OF
THE
'OVERNMENT
OF
)NDIA
0ARA
!
OF
2)
$%$
-ASTER
$IRECTION
.O
DATED
Remittances by DD for permissible transactions
4HE
3CHEME
CAN
BE
USED
FOR
OUTWARD
REMITTANCE
IN
THE
FORM
OF
A
$$
EITHER
IN
THE
RESIDENT
INDIVIDUALS
OWN
NAME
OR
IN
THE
NAME
OF
BENElCIARY
WITH
WHOM
HE
INTENDS
PUTTING
THROUGH
THE
PERMISSIBLE
TRANSACTIONS
AT
THE
TIME
OF
PRIVATE
VISIT
ABROAD
81. AS
AMENDED
FROM
TIME
TO
TIME
2)
!0
$)2
3ERIES
#IRCULAR
.O
DATED
12.2-4 Prohibited transactions under LRS
OLLOWING
TRANSACTIONS
ARE
PROHIBITED
Purposes prohibited under Current Account transaction rules
4HE
3CHEME
IS
NOT
AVAILABLE
FOR
REMITTANCES
FOR
ANY
PURPOSE
SPECIlCALLY
PROHIBITED
UNDER
3CHEDULE
)
OR
ANY
ITEM
RESTRICTED
UNDER
3CHEDULE
))
OF
OREIGN
%XCHANGE
-ANAGEMENT
#URRENT
89 ,23
/
53$
85. AS
AMENDED
FROM
TIME
TO
TIME
0ARA
!
OF
2)
$%$
-ASTER
$IRECTION
.O
DATED
Capital account remittances to FATF countries
4HE
3CHEME
IS
NOT
AVAILABLE
FOR
CAPITAL
ACCOUNT
REMITTANCES
TO
COUNTRIES
IDENTIlED
BY
INANCIAL
!CTION
4ASK
ORCE
!4
AS
NON
CO
OPERATIVE
COUNTRIES
AND
TERRITORIES
AS
AVAILABLE
ON
!4
WEBSITE
WWWFATF
GAlORG
OR
AS
NOTIlED
BY
THE
2ESERVE
ANK
2EMITTANCES
DIRECTLY
OR
INDIRECTLY
TO
THOSE
INDIVIDUALS
AND
ENTITIES
IDENTIlED
AS
POSING
SIGNIlCANT
RISK
OF
COMMITTING
ACTS
OF
TERRORISM
AS
ADVISED
SEPARATELY
BY
THE
2ESERVE
ANK
TO
THE
BANKS
IS
ALSO
NOT
PERMITTED
0ARA
!
OF
2)
$%$
-ASTER
$IRECTION
.O
DATED
12.3 Documentation by the remitter for availment of LRS
4HE
INDIVIDUAL
WILL
HAVE
TO
DESIGNATE
A
BRANCH
OF
AN
!$
THROUGH
WHICH
ALL
THE
RE-
MITTANCES
UNDER
THE
3CHEME
WILL
BE
MADE
4HE
RESIDENT
INDIVIDUAL
SEEKING
TO
MAKE
THE
REMITTANCE
SHOULD
FURNISH
ORM
!
FOR
PURCHASE
OF
FOREIGN
EXCHANGE
UNDER
,23
;FORM
!
GIVEN
AS
ANNEX
IN
2)
$%$
-ASTER
$IRECTION
.O
DATED
=
0ARA
!
OF
2)
$%$
-ASTER
$IRECTION
.O
DATED
)T
IS
MANDATORY
FOR
THE
RESIDENT
INDIVIDUAL
TO
PROVIDE
HISHER
0ERMANENT
!CCOUNT
.UMBER
0!.
TO
MAKE
REMITTANCE
UNDER
THE
3CHEME
Funds can be retained and invest abroad
)NVESTOR
92. AS
AMENDED
0ARA
!
OF
2)
$%$
-ASTER
$IRECTION
.O
DATED
Investor can retain and reinvest income under LRS -
!N
INVESTOR
CAN
RETAIN
AND
REINVEST
THE
INCOME
EARNED
ON
INVESTMENTS
MADE
UNDER
THE
,IBERALISED
2EMITTANCE
3CHEME
0ARA
b
OF
2)
%$
-ASTER
$IRECTION
.O
ON
@-ISCELLANEOUS
12.4 Facility to grant loan in rupees to NRI/OCI close relative under the
Scheme
2ESIDENT
INDIVIDUAL
IS
PERMITTED
TO
LEND
TO
A
.ON
RESIDENT
)NDIAN
.2) /VERSEAS
#ITIZEN
OF
)NDIA
/#)
CLOSE
RELATIVE
;@RELATIVE
AS
DElNED
IN
3ECTION
OF
THE
#OMPANIES
!CT
128. No credit facilities to applicant for capital account transactions
!$
BANK
SHOULD
NOT
EXTEND
ANY
KIND
OF
CREDIT
FACILITIES
TO
RESIDENT
INDIVIDUALS
TO
FACILITATE
REMITTANCES
FOR
CAPITAL
ACCOUNT
TRANSACTIONS
UNDER
THE
3CHEME
NoremittanceofcapitalaccounttransactionstoFATFcountries
!UTHORISED
$EALER
MAY
KEEP
A
RECORD
OF
THE
COUNTRIES
IDENTIlED
BY
!4
AS
NON
CO
OPERATIVE
COUNTRIES
AND
TERRITORIES
AND
ACCORDINGLY
UPDATE
THE
LIST
FROM
TIME
TO
TIME
FOR
NECESSARY
AC-
TION
BY
THEIR
BRANCHES
HANDLING
THE
TRANSACTIONS
UNDER
THE
,IBERALISED
2EMITTANCE
3CHEME
OR
THIS
PURPOSE
131. Foreign Banks and Indian Banks should not advertise LRS scheme without
approval of RBI
!
NUMBER
OF
FOREIGN
BANKS
OPERATING
IN
)NDIA
AS
WELL
AS
)NDIAN
BANKS
HAVE
BEEN
SOLICITING
THROUGH
ADVERTISEMENTS
FOREIGN
CURRENCY
DEPOSITS
FROM
RESIDENTS
UNDER
,23
;ON
BEHALF
OF
OVERSEAS
MUTUAL
FUNDS=
OR
FOR
PLACING
AT
THEIR
OVERSEAS
BRANCHES
4HESE
ADVERTISEMENTS
MAY
NOT
ALWAYS
CONTAIN
APPROPRIATE
DIS-
CLOSURES
TO
GUIDE
POTENTIAL
DEPOSITORS
GIVING
RISE
TO
CONCERNS
FROM
THE
POINT
OF
VIEW
OF
PROTECTING
THE
INTEREST
OF
THE
RESIDENT
INDIVIDUALS
URTHER
143. -UMBAI
12.6 Reporting to RBI
!$
#ATEGORY
)
BANKS
ARE
REQUIRED
TO
FURNISH
THE
INFORMATION
ON
REMITTANCES
MADE
UNDER
THE
,IBERALISED
2EMITTANCE
3CHEME
,23
ON
A
MONTHLY
BASIS
148. Rs. 1250 | USD 50
AUTHOR : TAXMANN
PUBLISHER : TAXMANN
DATE OF PUBLICATION : JULY 2021
EDITION : 15TH EDITION
ISBN NO : 9788195371440
NO. OF PAGES : 540
ORDER NOW
FEMA FDI
Ready Reckoner
DESCRIPTION
FEMA FDI Ready Reckoner provides complete and accurate information
about all provisions of the Foreign Exchange Management Act, 1999 (FEMA).
It also includes guidance on all practical issues faced by companies and FEMA
professionals. Key features of this book are as follows:
u Topic-wise commentary on FEMA
u Analysis of all provisions of FEMA with relevant Rules, Judicial Pronouncements, Circulars,
Notifications and Master Directions issued by Reserve Bank of India
u Law Relating to the following
n Prevention of Money Laundering Act
n Foreign Contribution (Regulation) Act
n COFEPOSA