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April 8, 2020 / Business

Now Foreign Investors Can Invest in Unlisted Corporate Debt Securities

As announced in the Union Budget 2016-17, it has now been decided to expand the investment basket of eligible instruments for investment by FPIs under the corporate bond route to include the following:

(i) Unlisted corporate debt securities in the form of non-convertible debentures/bonds issued by public or private companies subject to minimum residual maturity of three years and end use-restriction on direct foreign investment in india real estate business, capital market and purchase of land. The expression ‘Real Estate …

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April 8, 2020 / Business

Authorized Persons to Exchange Old Notes Held by Foreigners Up to Rs 5,000 Till Dec 15,

Attention of Authorized Persons is invited to the A.P. (DIR Series) Circular No. 16 dated November 9, 2016 giving certain exemptions to foreign tourists visiting India. In super session of instructions issued therein, it has been decided that foreign citizens (i.e. foreign passport holders) can exchange foreign exchange for Indian currency notes up to a limit of Rs. 5000/- per week till December 15, 2016 subject to the tenderer submitting a self-declaration that this facility has not been availed of …

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April 8, 2020 / Business

Demonetisation to help revive affordable housing segment

Demonetisation will help revive the latent demand in the housing sector as people now hope to buy houses in transparent deals, said Sriram Kalyanaraman, managing director & CEO, National Housing Bank. In an exclusive chat with ET’s Saikat Das, Kalyanaraman said some segments of the housing sector will especially benefit from it as prices may correct 15-20% with adequate supplies. Edited excerpts…
Will demonetisation drive demand in the housing sector in direct foreign investment in India?
Housing finance is …

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April 8, 2020 / Goods and Services Tax (GST)

GST To Spur Double Digit Growth in Hiring Across Sectors.

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The implementation of the Goods and Services Tax (GST) will lead to 11 per cent growth in hiring activities, says a report released on Tuesday.
HR services provider TeamLease said that GST would not only have a positive impact on the ease of doing business but also propel formal job creation.
“Adoption of GST will lead to an 11 per cent growth in hiring across sectors in chartered accountant firms in mumbai. Further, from a region perspective though marginally …

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April 8, 2020 / Goods and Services Tax (GST)

E-commerce Firms Like Flipkart and Snapdeal to Deduct TCS Under GST

 

e-commerce key on a white keyboard closeup. E-commerce concept image.

E-commerce operators like Flipkart and Snapdeal will have to deduct TCSBSE -1.02 % (tax collected at source) while making payments to their suppliers, according to the new model GST law, which has done away with the definition of ‘aggregator’.
Explaining the changes in the provision, experts said the proposal will increase the compliance burden on e-commerce operators as they will have to deduct 2 per cent TCS and deposit it with the government.
The measure, Nangia & Co Director …

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April 8, 2020 / Foreign Investment

Liberalization of Foreign Direct Investment – Other Financial Services

Department of Industrial Policy & Promotion in order to provide easy finance to the Indian Industries has liberalized the Foreign Direct Investment (‘FDI’) limits in Non-Banking Financial Company. Para 5.2.26 of the Consolidated FDI Policy has been replaced with the following para subject to specified conditions in chartered accountant firms in mumbai:
Before Circular:
Foreign investment in NBFC is allowed under the automatic route in only the following activities:
i.        Merchant Banking
ii.        Under Writing
iii.       Portfolio Management Services…

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April 8, 2020 / Goods and Services Tax (GST)

GST Offer Opportunity To ‘Go Digital’

touch- tablet in hands Business man

The countdown to the roll-out of the goods and services tax, or GST, has begun. The government, enterprises, regulators and consumers are gearing up to handle the tax implications of “one-country one-market structure”. A lot has already been written about how enterprises can prepare for GST. However, in my opinion, GST is not just a financial reform, but a broader business reform to service tax audit firm in Delhi. It has the potential to relook at how enterprises conduct …

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April 8, 2020 / Goods and Services Tax (GST)

Fintech Companies Can Now Cash in on GST Platform Services.

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The GST Network has devised a strategy to rope in fintech companies as well without compromising the security of the system.
GSTN, a not-for-profit entity, which is building the IT backbone for the revolutionary tax reform of Direct foreign investment in India, plans to enable such companies to offer services too, however, they will not get direct access to the GSTN. Instead, their services will be routed through NSDL, the National Securities Depository.

It has also been mandated …

April 8, 2020 / Direct Taxation

Received Expensive Gift This Diwali ? You Should Know These Tax Rules

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Gifts can be in the form of cash, movable property (car , jewellery, art work, etc.) or immovable property (land /building). But the rule doesn’t apply in all cases; there are a few exceptions.

The festive season has begun and the marriage season will begin soon. Receiving and giving gifts is an integral part of the celebrations. But you ought to know that if you receive gifts worth Rs 50,000 or more in a financial …

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April 8, 2020 / Goods and Services Tax (GST)

GST Council Fixes Rate Structure: All You Need To Know About The Extremely Complex Tax Reform.

The country moved one step ahead in realising the GST dream when the GST council on Thursday decided to fix a four-tier rate structure for the reform touted to be the biggest after the economic.

While the structure and decisions taken have been welcomed by a section of industry and experts, it had its share of criticisms.

Food grains will be zero rated to insulate people form inflationary pressures in Internal audit firms in Delhi.

However he clarified that …

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