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Tax Savings for Resident/Non-Resident Indians
Tax Benefits Available to NRIs in India 1. Indian Tax Regime: As per the Indian tax regime, NRIs are exempted from paying taxes on certain...
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49th GST Council Meeting Recommendations
1. GST on ‘Rab’ has been reduced from 18% to 5% if sold pre-packaged and labelled, and to nil if sold otherwise. 2. GST on...
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TDS on transfer of Virtual Digital Assets (VDA) – Section 194S
TDS u/s 194S TDS on the transfer of VDAs Introduction of section 194S The Government has introduced Section 194S Under Budget 2022 to impose TDS...
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Non-Banking Finance Company- About, License of RBI & Types
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, Engaged in – Business of loans and advances Acquisition of shares/stocks/bonds/debentures/securities issued...
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Section 276B of Income Tax Act 1961
Grievance Redressal Mechanism under Chapter XII-D or XVII-B section 276B of Income Tax Act 1961 Failure to pay tax to the credit of Central Government...
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Setting up of Appeal Units under “Faceless Appeal Scheme 2021
F No. 187/4/2020-ITA-1 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** North Block, New Delhi — 110001 Dated...
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Net worth requirements for a Bullion Exchange & Bullion Clearing Corporation
International Financial Services Centres Authority Circular No. F. No. 329/IFSCA/Bullion MIIs/2022-23 Dated: March 01, 2023 To Bullion Exchange in the International Financial Services Centre (IFSC)...
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Clarifications in relation to Fund Management Entities and Schemes set up in IFSCs by Sovereign Wealth Funds
International Financial Services Centres Authority Circular No. F. No. 333/IFSCA/SWF/20022-23 Dated: March 01,2023 To, All Fund Management Entities (FMEs) in International Financial Services Centres (IFSCs)...
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IFSCA: Clarifications in relation to Family Investment Funds
International Financial Services Centres Authority Circular No. F.No. 333/IFSCA/FIF/2022-23 Dated: March 01, 2023 To, All Fund Management Entities (FMEs) in International Financial Services Centres (IFSCs)...
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Setting up of Units under section 144B(3) of Income-tax Act, 1961
F No. 187/3/2020-ITA-1 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** North Block, New Delhi — 110001 Dated...
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CBDT notifies IBBI under section 10(46) of Income tax Act 1961
Notification No. 09/2023- Income Tax Dated: 01st March, 2023 under section clause 46 of section 10 of Income tax Act 1961 in case of Insolvency...