Introduction: Transactions involving acquisition and transfer of immovable properties in India by non-residents are governed by Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018, which were issued vide Notification No. 21(R)/2019-RB, dated March 26, 2018 (“Immovable Property in India Regulations”). Similarly, transactions involving acquisition
A Complete Analysis on 2(22)(e) – Income Tax
An Analysis of Section 2(22)(e) In this piece of write-up, we aim to analyse the concept of ‘deemed dividend’, under the income tax laws right from the Income Tax Act, 1922 to current provisions. The said analysis is done with the support of various judgments at various forums on the
Equalisation Levy
INTRODUCTION “Equalise” is to make something equal or distribute evenly and “Levy” is to impose or charge, thus Equalisation Levy creates a level playing field. Under the existing rules of International Taxation, the Country of Source (“COS”) can tax a non-resident, carrying Business through electronic means, without any physical presence,
Trade Receivables Discounting System (TReDS) – Allied Laws
Introduction to MSME: The Micro, Small and Medium Enterprises (MSME) sector has emerged as a highly vibrant and dynamic sector of the Indian economy over the last five decades. It contributes significantly in the economic and social development of the country by fostering entrepreneurship and generating largest employment opportunities at
Re-Intitation of Proceedings by IO – Validity – Benami Act
The Honourable High Court of Delhi recently in the case of Smt Sunita Gupta v Union of India has an occasion to examine the validity of re-initiation of proceedings by Initiating Officer (IO) under the Prohibition of Benami Property Transactions Act, 1988 (Benami Act). The Honourable High Court after considering
Gift of Immovable Property whcih is not a Capital Asset
Section 122 of Transfer of Property Act, 1882 defines the phrase ‘Gift’. Vide such section, ‘gift’ is the transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the
Foreign Portfolio Investors – SEBI and FEMA Perspective
Background: Foreign Portfolio Investments (FPIs) are governed in India by SEBI (Foreign Portfolio Investors) Regulations 2014 (‘SEBI FPI Regulations’), Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017 (‘FDI Regulations’) and RBI Master Direction No. 11/2017-18 on Foreign Investment in India, as amended
Corporate Governance Perspectives And Role Of Internal Auditing
Introduction: Corporate Governance is a multi-faceted subject and trying to comprehend in a concise definition. The central theme of corporate governance is to integrate sound management policies in the corporate framework in such a manner to bring economic efficiency in the organization in order to achieve twin goals of profit
Certain Issues in Real Estate (Regulation & Development) Act
Since the Real Estate (Regulation & Development) Act, 2016 (colloquially referred as ‘RERA law’) picking its heat in the state of Telangana, we thought of writing an article on certain issues which were examined by our office in last few months pertaining to the applicability of RERA provisions and found
NFRA Rules – Will they apply to LLP – Companies Act
This article is an attempt to list out the provisions/compliances by the applicable entities, in respect of the provisions of National Financial Reporting Authority, constituted under provisions of Section 132 of the Companies Act, 2013. A specific thrust is put-in to see as to which type of entities,