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The presumptive scheme option has always been an exciting and confusing story for taxpayers. As the 2016 Budget comes into effect from FY 2016-17, there have been some important additions/deletions in the system, which you should be aware of. The presumptive tax scheme is designed to provide relief to small…

Great! You have the ideal business concept, are motivated, have a supportive team, and are eager to get started. But hold on! Have you given any thought to the kind of business you plan to start? Number of directors How much cash do you have available for disposal? What course…

Insurance auditors while conducting insurance audits will review credit policy and procedures, tax records, risk assessments, and other financial records of insurance. This is done to ensure that appropriate insurance standards and premiums are applied and that insurance companies adhere to the rules. Some of the key areas to be…

  In the current context, the world is heavily focused on social and environmental actions. Businesses themselves, in addition to their common goal of making a profit, participate in activities that promote social, economic, cultural, and environmental growth. The world today is so well connected and well connected that access…

The launch of the Legal Entity Identifier (LEI) was intended to improve the quality and accuracy of financial data systems to better manage risk following the evolution of the Global Financial Crisis. This allows the party's financial transactions throughout the world to be tracked. The Reserve Bank of India ordered…

The Foreign Exchange Management Act, of 1999, was approved by the Indian Parliament. Its mission is to consolidate and revise foreign currency legislation to facilitate external commerce and payments, as well as to encourage the orderly growth and maintenance of India's foreign exchange market. Section 15 of the Foreign Exchange…

Importing is the process of bringing commodities into a certain country. Importation can take place by land, air, or water. The Government of India, Customs Officers, and Border Forces impose many limitations on importing products into the nation. Goods brought into the nation would be permitted as long as they…

Form 26AS is a tax credit statement that summarizes all tax deducted, tax received, advance taxes, and self-assessment taxes paid in a single report. This statement displays the tax deposited with the government by you or on your behalf. If you have paid your income tax but the details are…

Investing in a foreign company by an Indian is governed by the Foreign Exchange and Management Act, 1999, as well as the various laws and regulations issued there. Because of the complex and regulatory environment, it has become important for investors to take the right direction related to their investment…

Every Indian citizen receives an Aadhaar card, which is a centralized and universal identifying number. The Aadhar Card is a biometric record that maintains an individual's information in a government database and is increasingly replacing paper as the government's primary source of data for public welfare and citizen services. Furthermore,…