The Foreign Contribution (Regulation) Act, 2010 (for brevity ‘FC(R)A’), which has replaced the erstwhile Foreign Contribution (Regulation) Act, 1976 w.e.f 1st May, 2011 ,has been introduced with an objective to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies and to
Maternity Benefit Act
The Factories and establishments employing ten or more employees are covered under the Employees’ State Insurance Act in the notified areas. The employees working in such factories and establishments with a gross monthly wage of Rs. 21,000/- and below are required to be covered under the ESI Scheme and they
Power Sector In India
BACKGROUND: The power sector in India has undergone significant progress after Independence. Energy is one of the key enablers for the country’s economic development. With the certainty in policy-level interventions, the economy is bound to proliferate and the demand for energy will inevitably surge. Other than economic growth, human
Compliances Under LLP
All are aware that a Limited Liability Partnership (LLP) is a body corporate, governed by the Limited Liability Partnership Act, 2008 and rules framed thereunder. An LLP has a distinct legal entity separate from that of its partners, it has perpetual succession and any change in the partners shall not
Services Of Non Resident Agents – Implications Under Direct tax
Scheme of Taxation of Non-Residents: Section 5 of the Income Tax Act, 1961 provides for taxability of income in the hands of Non-Resident. Total Income of the Non-Resident includes all the income which is received or deemed to be received in India by or on behalf of such person
Overview Of IFSC – FEMA And SEBI Regulations
The last decade has seen unprecedented growth in India’s financial services sector. It employs over 3 million people, constitutes about 5% of the GDP and has an estimated market capitalization of over US$ 200 billion. As India experiences continued economic growth, the financial sector could generate about 10-11 million jobs
CBCR Implementation Guidance
Country By Country Reporting – Implementation Guidance: Currently, CBCR compliances has become a matter of concern for all multinational enterprises (MNE). The Organization for Economic Cooperation and Development (OECD) as part of the BEPS project has been issuing guidance to the action points specified by it. Recently on 6
Conditions Of Employment – Probation
In Industrial and Commercial Organisations, it is the normal practice that the new employees are taken on probation. The probationary period may range between six months to two years depending on the nature of the role and responsibilities. During the probationary period a new employee performance and behaviour is required
Significance Of Supply Chain Management In Hospitality Industry
What is SUPPLY CHAIN Management..? All activities associated with the flow and transformation of goods from the raw materials stage, through to end users, as well as the associated information inflows. This includes material and information flows both up and down supply chain. Therefore supply chain includes a whole horde
Seamless Credit Under GST – Still Seems To Be Out Of Reach
INTRODUCTION: GST is globally enshrined as a successful tax reform that will reduce the cascading effect of taxes, ensuring no tax burden on business houses and shifts the complete tax burden on to the end customer or consumer. Seamless Input Tax Credit (ITC) is often lauded as major benefit