The Unicorn Trip 2.1 was a great opportunity to create a real-time learning experience for Indian entrepreneurs like us who are interested in collaborating and seeking synergies with the flourishing startup ecosystem of China. HSCo joined in to explore meaningful engagement, collaboration and experience scale of the Chinese companies. The emphasis of the trip to...
One of the major sources of collection of Direct Taxes in India is by way of Tax Deduction & Tax Collection at Source (TDS & TCS). It has become a key revenue collection method for the Central Board of Direct Taxes (CBDT). A person (deductor) who is liable to make payment of specified nature to...
What you can achieve as TEAM cannot be achieved as an Individual. Teams don't work well without teamwork. Teamwork is important for the success of all businesses/professions as it provides employees with an opportunity to bond with one another, which improves relations among them. Collaboration within a group can help solve difficult problems. Brainstorming is...
In India people transact in cash every day without thinking much about it. In order to curb black money, the Income Tax department of India has imposed various restrictions on cash transactions (receipts and payments) from time to time. Paying or Receiving cash beyond these limits attracts a heavy penalty which can go up to...
What is Communication? Communication is defined as transferring information to produce greater understanding. It can be vocally (through verbal exchanges), through written mode (E-mails, Notices, Circulars, Websites etc) visually (using graphs, charts, and maps) or non-verbally (body language, gestures, pitch of voice, and tone). Having strong communication skills aids in all aspects of life. Good communication...
Following the recent trend of weekly announcements of various reforms to boost the Indian economy, the Government today has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. The salient features of these amendments are as under:- In order to...
Foreign Direct Investment (FDI) is a major driver of economic growth and a source of non-debt finance for the economic development of the country. Government has put in place an investor friendly policy on FDI, under which FDI up to 100% is permitted on the automatic route in most sectors/activities. FDI policy provisions have been...
The income tax department is trying to make the process of income tax returns (ITR) easier for taxpayers. As per the latest update the IT department has now made Prefilled XML available for ITR 1, 2, 3 and 4 for AY 2019-20 which most individual taxpayers are required to file Since pre-filled data is now...
The ITR forms for the financial year 2019-20 have gone through numerous alterations. These forms have been made far more detailed with an attempt to plug tax leaks. For instance, this year onwards you no longer can repost a consolidated figure under the head ‘income from other sources’. Incomes from sources like income tax refund,...
As per the existing External Commercial Borrowings (ECB) regulation, to utilize ECB proceeds for working capital purposes, general corporate purposes and repayment of rupee loans, the EBCs had to be taken from a foreign equity holder. Also, the Minimum Average Maturity Period (MAMP) was to be maintained at 5 years. Further, on-lending for these activities...
