Others Archives - Neeraj Bhagat & Co.

February 9, 2021 / Others

Checklist for Visa Extension under FRRO

WHAT IS FRRO REGISTRATION:
Registration under FRRO is a mandatory requirement by the Government of India under which all foreign nationals (excluding overseas citizens of India) visiting India on a long term visa (more than 180 days) are required to register themselves with a Registration Officer within 14 days of arriving in India.

Pakistani nationals visiting India are required to register within 24 hours of arrival regardless of the duration of their stay.

Foreign registration was mandated and is regulated …

February 5, 2021 / Others

Key Highlights of Union Budget 2021

The Union Budget 2021-22 was presented by the Hon’ble Finance Minister Nirmala Sitharaman on 1st February 2021 in the Parliament. This year’s Budget lays focus on the seven pillars for reviving the economy – Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and Minimum Government Maximum Governance. Several regulations around the securities market are proposed to be merged as a single code. Several direct taxes and indirect taxes …

January 1, 2021 / Others

Valuation by special valuation branch in custom

The valuation of goods is always a matter of concern especially where the goods are imported into India. The value determination may influence the price of goods in India and may impact the competition environment in India. Therefore, proper valuation by custom officer becomes more important and challenging.

As per Custom Act, 1962, the value of goods imported or exported shall be the transaction value i.e. price actually paid or payable subject to condition that,

i) the buyers and sellers …

January 1, 2021 / Others

Companies (Amendment) Act, 2020- overview of provisions

The Companies (Amendment) Bill, 2020 Assented by President as Companies (Amendment) Act, 2020, provides the following, namely: —

♦ To incorporate a new Chapter XXIA in the Act related to Producer Companies.

♦ To decriminalize certain offences under the Act.

♦ To make provisions for allowing payment of adequate remuneration to non-executive directors in case of inadequacy of profits.

♦ To speed up timeline of right issue under section 62.

♦ To extend exemptions to certain classes of…

January 1, 2021 / Others

FCRA Squabble: Experts bat For rationalization Of admin expenses

Views of our Founder, Mr. Neeraj Bhagat on FCRA Amendment Bill published in Business World

However, Neeraj Bhagat, a Delhi-based reputed tax consultant and the head of his own Chartered Accountant firm has a different take. Bhagat said: “It will minimize the illicit and fraudulent usage of overseas funds. Moreover, inclusion of public servants in prohibited list under section 3 will significantly address the ills and reduce corruption in the economy,” said Bhagat.