Supreme Court ruled that the Electoral bonds programme was unconstitutional. Electoral Bonds Scheme: In the 2017 Union Budget, electoral bonds were established as a means of improving political financial transparency. However, issues with donor anonymity and lack of disclosure emerged. The Electoral Bond is a bearer instrument in the nature of a Promissory Note & …
Introduction of Financial Intelligence Unit – India (FIU-IND) FIU (Financial Intelligence Unit) is the central, national agency responsible for receiving, processing, analysing and disseminating information relating to suspect financial transactions to enforcement agencies and foreign FIUs. Financial Intelligence Unit involved in the receipt, analysis and dissemination of financial intelligence as per the mandate assigned under …
Artificial Intelligence in FinTech: Five Ways of Changing this Industry. Artificial intelligence making grip in in the financial technology market AI has emerged as a workable tool for businesses in the numerous industries. In this industry, financial companies are developers & leaders. According to Autonomous Research, AI would save the sector up to 22% of …
Get INR 20,00,000/- By Investing INR 100: Post Office Scheme The Post Office offers a variety of useful schemes that will help you keep your money safe and provide you with more rewards than you would get from any other source. Post office schemes are the solution to go if you’re looking for a safe …
Coronavirus – Precautionary Measures being taken by RWA and Guidelines to Prevent its Spread India now has over Many confirmed cases of COVID-19/Coronavirus. As we are all aware, it takes just one case of Coronavirus infection to put an entire community at risk. Minimizing the transmission risk requires every single person to take part in …
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NOTE ON AMOUNT PAYABLE UNDER GRATUITY OBLIGATION TO AN EMPLOYEE We highlight the need for provisioning the obligation under Gratuity benefits payable to employees. This obligation is to be shown in the Financial Statements of the enterprises. Whilst this obligation will depend upon several factors, it will also be dependent on the amount payable under the …
Limited Liability Partnership A Limited Liability Partnership (LLP) is a business structure that offers the advantages of limited liability and the flexibility of a partnership business. When compared to the company form of business structure, the LLP has fewer compliance requirements. In the case of an LLP, audit is exempt up to a certain level …
AO couldn’t question reasonableness of business exp. when its genuineness wasn’t doubted. Where assessee made payment of compensation to CCL, a foreign company, for premature termination of Toll Manufacturing Agreement (TMA) entered into between parties, said payment being directly having nexus with business activity of assessee, was to be allowed as deduction under section 37(1) …
Managerial Remuneration in a Company -2 [SCHEDULE XIII] (See section 198, 269, 310 and 311) [SCHEDULE XIII] (See section 198, 269, 310 and 311) Condition to be fulfilled for the appointment of a managing or whole-time director or a manager with out the approval of the Central Government [PART I] Appointments No person shall be eligible …