Definition of DOT OSP:
According to Department of Telecommunication (DOT), Other Service Providers (OSP) refers to the companies providing services in the tele-communication Industry with use of telecom resources. OSP includes call centres and Business Process Outsourcing (BPO). OSP providin…
Service Tax on Works Contract
Types of work that fall under the works contract category:
1) Erection, Commission or installations of plants, electronic devices, drainage laying, pipelines, thermal and sound insulators e.t.c.
2) Construction of new buildings, pipelines, etc primarily f…
As effect of demonetization of Rs 500/- and Rs 1,000/- notes announced by PM Narendra Modi on the 8th of November 2016, notes worth Rs.15.4 lakh crore has been deposited out of which 12.44 lakh crore has been reported to be returned to the system or exchanged by public. Initially the last date for d…
Facebook friends will be treated as Related Party: SEBI
Inception
In the year 2012 SEBI had probed into the matter of violation of the stipulated insider trading norms in the scrip of the company Parled Technologies Private Limited.
The backdrop of the matter is that the said company had su…
Central Board of Excise and Customs has started a trust based Service Tax registration which became applicable from 1st March, 2015.
Applicants seeking registration of Service Tax for single premises who mandatorily have their PAN number can file online form ST-1. Once the application in Form …
Foreign Direct Investments (FDI) can be made by Non-residents in Indian companies in shares, fully and compulsorily convertible preference shares and debentures.
There are broadly two entry routes for FDI's; first is automatic route and the other is approval route. In automatic route, neither t…
Important Registrations for Business
In the process of commencement and establishment of a new business venture we are all aware that a limited form of entrepreneurship can derive more benefits in comparison to a proprietorship or partnership firm. A business enterprise is normally associated with…
Preparing & Writing a Will in India
As movie follower, we have viewed many cinema’s where the villain incubates a plot to abuse property by producing forged wills or by keeping the lawful beneficiaries oblivious. The scoundrel might likewise attempt to keep the beneficiaries from satisfying the sta…
A Non-Resident Indian (NRI) is often faced with the situation of maintaining a Rupee account in India. Primarily there are two reasons for opening such account: NRI wants to repatriate overseas earned money back to India or he wants to keep India based earnings in India. NRI has the option of openi…
Recurring Deposits can be your best friend in your Financial Life:-
Everybody has a idea about recurring deposit or "RD" as it it known still many investors remains confused about this plain vanilla product.
You open a RD for a fixed tenure for a fixed amount and you earn a pre-determined interest o…
New PAN card rules will Eliminate the Fake PAN cards:-
The problem of fake and duplicate PAN cards is expected to be eliminated by the new procedures notified by the income tax department.
According to new method, the original documents for Proof of Date of birth, Identity & Address should be sh…
STATEMENT OF THE FINANCE MINISTER (January 14, 2013)
1. A number of countries have provided for General Anti Avoidance Rules (GAAR) in matters relating to taxation. While tax mitigation is recognized, tax avoidance is frowned upon. International literature describes tax avoidance as the legal exploit…