Business – Page 2 – Neeraj Bhagat & Co.

April 29, 2020 / Business

COVID-19 and its Impact on Indian Economy & Business

Besides the impact on human lives and global supply chain, the pandemic is a severe demand shock which has offset the green shoots of recovery of the Indian economy that were visible towards the end of 2019 and early 2020.The International Monetary Fund (IMF) has projected the Indian economy to grow at 1.9% in 2020-21. Nearly 162 countries are steadily going into lockdown, and businesses across the globe are operating in fear of an impending collapse of global financial markets. …

April 23, 2020 / Business

Some Useful Excel Functions for Chartered Accountants

Working as a Chartered Accountant or an Article in any company or firm, it is always expected from us that we are perfect in numbers as far as financial numbers are concerned. The one tool which is very common and useful in every industry and in every country, is MS-Excel.

So, in this article we have tried to enumerate some of the Excel functions which are very useful.

> SUMIF FUNCTION
The SUMIF function is used when a huge number …

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

…

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 …