Business – Page 2 – Neeraj Bhagat & Co.

April 11, 2020 / Business

Relaxation in Tax and Statutory Norms due to Covid-19 outburst

The COVID-19 pandemic has forced governments to take unprecedented measures such as restricting travel and implementing strict quarantine requirements. Whereas, in view of the spread of pandemic COVID-19 across many countries of the world including India, causing immense loss to the lives of people, it has become imperative to relax certain provisions, including extension of time limit, in the taxation and other laws. And whereas the Parliament is not in session, the President is pleased to promulgate the Ordinance called …

April 7, 2020 / Business

Provident fund for International Worker

Foreign workers taking up overseas assignments pay more attention to the tax regime of the country when determining costs, and often tend to overlook the social security laws of the country, which are equally important.

India requires every business entity employing more than 20 workers to register with the national social security system and makes it mandatory for employees and employers to contribute towards retirement and insurance scheme.

The country’s social security system is governed by the Employees Provident Funds …

April 8, 2020 / Business

Registration and Compliance of Peer to Peer Lending Platform-NBFC

NBFC –Peer to Peer Lending platform (NBFC-P2P) is a type of Non-Banking Financial Company which carries on the business of providing services of Loan facilitation to willing lenders and borrowers through online platform. This type of Non-Banking Financial Company is not allowed to accept deposits or lend on its own. It is to moderate the interactions between lenders and borrowers. NBFC-P2P provides services of matching the right lender with the right borrower through the due diligence on electronic platform (e-platform). …

April 8, 2020 / Business

FM presents Union Budget 2020-21

“This budget has both vision and action..”
Finance Minister Nirmala Sitharaman, on Feb 01, 2020 unveiled the budget for fiscal 2020-21, vowing to boost income of Indians and their purchasing power, in a bid to revive domestic economic growth that has slumped to lowest in decade.
This year’s Union Budget centres around three ideas – Aspirational India, Economic Development, a Caring Society.
Here are the key highlights of the budget on:

Taxation:
1. New taxation regime has been introduced for …

April 8, 2020 / Business

CCI for self-regulation in e-commerce sector

The Competition Commission of India (CCI) said in a study, released Wednesday, that marketplace platforms should adopt self-regulatory measures such as clearly stating the parameters of search ranking, setting out a transparent policy on data collected by them, among others.
Releasing the findings and its observations, the CCI said marketplace platforms should bring out a clear policy on discounts. This would include the basis of discount rates funded by platforms for different products or suppliers and the implications of participation …

April 8, 2020 / Business

Procedure for Import Export Code (IEC) Registration

An IEC is necessary for Import or Export of goods. The first requirement before you start an Import or Export business in India is to obtain an IEC. IEC Code is unique 10 Digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India.

The PAN based IEC Registration Certificate generated online (on STP mode), by following the beneath six steps:

BENEFITS OF IEC REGISTRATION:

1. It is the primary proof for a firm …

April 8, 2020 / Business

Incorporating a Non- Banking Financial Company (NBFC)

Article explains about Non- Banking Financial Company (NBFC), Importance of NBFC in Indian Economy, Principal Business activities (Financials Activities) of NBFC’s recognized but not limited, Restricted Activities: Activities that are exclusively restricted to be carried on by the NBFC’s, Difference between NBFC & Bank, Requirement to establish business of Non- Banking Financial Services, Types of NBFC’s, NBFC Registered with RBI , Procedures of Registration of NBFC, Foreign Direct Investment (FDI) in NBFC and Opportunity for NBFC’s.

1. Non- Banking Financial

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April 8, 2020 / Business

Indian Visa Requirements for Foreigners

Under Indian law, the legal rights and the restrictions imposed on foreign nationals depend on whether they are categorized as residents or non-residents.

Entry into India generally requires a valid visa granted by an Indian Mission (that is, consulate of the Indian embassy) abroad. Furthermore, foreign nationals who enter India must register themselves with the Foreign Regional Registration Office (FRRO) within 14 days of arrival if they intend to reside in India for a consecutive period of more than 180 …

April 8, 2020 / Business

Indian Visa Requirements for Japanese Nationals

Under Indian law, the legal rights and the restrictions imposed on Japanese nationals depend on whether they are categorized as residents or non-residents.

April 8, 2020 / Business

India jumps 14 places to 63rd position on the World Bank”s ease of doing business ranking

India has jumped 14 places to the 63rd position among 190 nations on the World Bank’s ease of doing business ranking released on Thursday. Last year, India was on 77th position. The World Bank has commended the reform efforts undertaken by the country “given the size of India’s economy” in its ”Doing Business” 2020 report,India has improved its rank on 6 out of 10 parameters relating to starting and doing business in a country.The parameters for determining ranking on ease …