CORPORATE UPDATE FOR THE MONTH: Wal-Mart’s India sales go south by 32% in 2014 Sep 28, 2015 The Indian unit of Wal-Mart Stores Inc, the world’s largest retailer, posted its first ever sales decline after parting ways with key client Bharti Retail and halting store expansion amid an ongoing internal probe into alleged corrupt …
TAX IMPLICATIONS FOR NRIs WHO WANT TO SELL PROPERTY IN INDIA. NRIs who have sold house property which is situated in India have to pay tax on the Capital Gains. The tax that is payable on the gains depends on whether it’s a short term or a long term capital gains. When a house property …
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 …