Buy Latest Book on Foreign Exchange Management -FEMA Highlight ad code TRANSFER OF SHARES AND CONVERTIBLE DEBENTURES OF AN INDIAN COMPANY 1.1 Background General policy regarding transfer of shares to or from non resident are summarised in para 3.4.4 of Consolidated FDI Policy Circular No. 1 of 2014 dated 17-4-2014 issued by DIPP of MC&I Foreign… Read More »
ACQUISITION AND TRANSFER OF PROPERTY IN INDIA ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY IN INDIA 1.1 Background Restrictions in respect of acquisition and transfer of immovable property in India by non-resident are covered in Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000. Instructions are consolidated in RBI Master Circular No.… Read More »
BRANCH OFFICE IN INDIA ESTABLISHMENT OF BRANCH OR OFFICE IN INDIA 1 Background Provisions to prohibit, restrict and regulate establishment in India of a branch or office or other place of business by a person resident outside India are contained in Foreign Exchange Management (Establishment in India of Branch or Office or other Place of… Read More »
Banks authorized to accept payments of Income Tax Reserve Bank of India August 12, 2015 Pay IT dues in advance at RBI or at authorised bank branches The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date. It has also stated… Read More »
SECTION 92C OF THE INCOME-TAX ACT, 1961 – TRANSFER PRICING – COMPUTATION OF ARM’S LENGTH PRICE (ALP) – ACCEPTANCE OF ORDER OF HIGH COURT OF BOMBAY IN CASE OF VODAFONE INDIA SERVICES PVT. LTD. [2014] 50 TAXMANN.COM 300 (BOMBAY) INSTRUCTION NO. 2/2015 [F.NO.500/15/2014-APA-I], DATED 29-1-2015 In reference to the above cited subject, I am directed… Read More »
SECTION 199 OF THE INCOME-TAX ACT, 1961 – DEDUCTION OF TAX AT SOURCE – CREDIT FOR TAX DEDUCTED – NON-DEPOSIT OF TAX DEDUCTED AT SOURCE INSTRUCTION NO.275/29/2014-IT-(B), DATED 1-6-2015 Grievances have been received by the Board from many taxpayers that in their cases the deductor has deducted tax at source from payments made to them… Read More »
IASB Proposed Deferment of Changes Previously Suggested in IFRS 10 and IAS 28 International Accounting Standard Board (IASB), the independent body of IFRS foundation and responsible for developing and promoting International Financial Reporting Standards (IFRS), has proposed deferment of changes previously suggested in IFRS 10 ‘Consolidated Financial Statements’ and IAS 28 ‘Investment in Associates and… Read More »