Last date to open FCRA Account-New Delhi
There shall be one and only one account which shall be used for receiving foreign contribution known as the “FCRA Account” at specified branch of State Bank of India in New Delhi, the due date for same is 31/03/2021.
TIRED OF SEARCHING FOR PEN FOR SIGNATURE.… WELL THEN SAVE YOUR TIME BY E-SIGNING YOUR DOCUMENTS
E-Sign Electronic Signature Service is an innovative initiative for allowing easy, efficient, and secure signing of electronic documents by authenticating signer using e-KYC services. It has the same legal standing as handwritten signatures, making it a good replacement for traditional signatures.
IS THE ISSUE OF TAXABILITY OF SOFTWARE IN INDIA SETTLED?
The Supreme Court has recently held that purchase of software is not a royalty and will not be liable to tax in India. It has laid rest to a 20 year old controversy with different courts giving different rulings on this issue. However, not all software are covered by this ruling.
STAY COMPLIANT AND EVENT READY
An event like fundraising or acquisition would trigger an in-depth compliance check. Don’t wait for nth hour to get your compliance in order. Stay Compliant and event-ready
Slump Sale -is it still Tax Efficient?
Provision for Slump Sale has been significantly amended by Finance Act 2021 . This has retrospective ef ect even for slump sale concluded in FY 20-21 . The transaction structuring landscape would predominantly change
Revised TDS rate chart for FY 2021-22
ESTATE PLANNING : CARE FOR EVER
This is timeto be optimist, no doubt. At sametime we need to plan foreventualities such as death. The trauma of losing a loved one, on whom our family depends upon, should not be multiplied, by our carelessness, in not being disciplined in our financial matters and not doing ourestate planning well in time.
Are you Compliant with your US tax reporting?
US tax returns are generally due by 15 April. However, for the tax year 2020, the due date has been extended to 17 May 2021
Gear up for 2021-22 | CFO/Finance heads| Financial statements
Mandatory use of Accounting Software having audit trail (effective from 1.4.2022) Additional matters to be included in Board’s Report relating to the status of IBC and One-Time Settlement (OTS) done with banks or financial institutions
Place of Effective Management (PoEM)
The Finance Act 2015 amended the requirement of when a foreign entity would be treated as a resident in India. The intention of this is to bring under the residence bracket shell companies and such other companies created for retaining income outside India although real control and management of affairs are located in India