THE SCOPE OF FDI IN AVIATION SECTOR The Cabinet Committee of Economic Affairs (“Committee”) on September 14, 2012 approved the proposal of Department of Policy and Promotion (“DIPP”) for permitting foreign airlines to make Foreign Direct Investment (“FDI”) in the aviation sector. Once the proposal is implemented, the prevailing restriction on foreign airlines from …
CHECKLIST FOR UNLISTED COMPANY THOSE ISSUE OF SWEAT EQUITY SHARES S.NO. Procedures 1 Sweat Equity is covered by Sec. 79A of the Companies Act – 1956. 2 It Can be issued to Directors or Employees of the Company at a discount or for consideration for other than cash 3 The provision of Sweat Equity …
BASIC FOR THE ISSUE OF BUSINESS VISAS AND EMPLOYMENT VISAS FOR FOREIGN NATIONALS The Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry notified certain guidelines for the issue of Business Visas (“BVs”) and Employment Visas (“EVs”) to foreign nationals.As Per these guidelines all foreign nationals in India who were on …
TYPES OF LOANS AVAILABLE IN INDIAN MARKET PERSONAL LOAN: We offered our services in providing personal loans for any purpose. Our wide expertise in this area allows us to offer you the helping hand with immediate effect right from your request. Our personal loans are meant for business as well as for personal purpose. Our …
BASIC ABOUT NON RESIDENT INDIANS UNDER FEMA AND INCOME TAX : An Indian Citizen who stays abroad for:- employment/ carrying on business or, vacation outside India or, stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. Persons posted in U.N. organizations and officials deputed abroad by Central/ State …
Mere book adjustment can’t be deemed as contravention of Sec. 269SS/269T Section 271D, read with sections 271E, 269SS and 269T, of the Income-tax Act, 1961 – Penalty – For failure to comply with section 269SS (Book adjustment) Making book adjustment of funds by assessee firm with sister concern without making payment of cash, could not …
Summary of changes made in Passed Finance Bill, 2015. On April 30, 2015, the Lok Sabha passed the Finance Bill. The Bill which was presented originally in the Lok Sabha on February 28, 2015 is not passed in its original shape. Various changes have been made in the Bill. New amendments are proposed, some proposed …
REGISTRATION OF A COMPANY BY FILING JUST ONE FORM – OFFICIAL AMENDMENTS IN THE COMPANIES (AMENDMENT) BILL, 2014 ( INC-29: STARTING MAY 2015) The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for moving of the following Official Amendments in the Companies (Amendment) Bill, 2014 :- Doing away with the requirement …
Companies (Amendment) Bill, 2014 The Union Cabinet today gave its approval for moving of the following Official Amendments in the Companies (Amendment) Bill, 2014 :- Doing away with the requirement for filing a declaration by a company before commencement of business or exercising its borrowing powers and rationalizing the procedure for laying draft notifications granting exemptions …
Mere liquidation of shares in short span of time doesn’t mean that assessee was doing business in shares Section 45, read with section 28(i), of the Income-tax Act, 1961 – Capital gains- Chargeable as – Business income vs Capital gains – Shares dealings Circulars and Notifications: Circular No. 4/2007, dated 15-6-2007. Where assessee made investment in …