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When a company receives foreign investment, form FC-GPR is issued by the Reserve Bank of India (RBI). Accordingly, the company will issue shares to a foreign investor for such investment. The company is also required to give details of such allotment of shares using Form FC-GPR. In this article, we…

GST has made easy the tax return filing process by accumulating information about the goods and services of sellers and customers under one head. The GST Council and the Finance Ministry have developed a system of Goods and Services Tax Network where taxpayers are required to record all information about…

A Full-Fledged Money Changer is a company that carries out business activities such as forex currency after prior approval from the Reserve Bank of India (RBI). These companies are sanctioned under the Foreign Exchange Act of 1999. The RBI permits business entities to handle foreign exchange for specific purposes. These…

In recent years, there are various new notifications with regard to the filing of Form 10F introduce. Central Board of Direct Taxes (hereinafter referred to as CBST) has notified these notifications. In India, it is the main authority for overseeing institutions of direct taxes. These notifications aim to give instructions…

Export is a significant term for multinational trade. It includes the sale of goods/ services from one country to another. In India, there are various rules, regulations, and procedures have been introduced to promote exports by the Indian Government. It makes the procedure simple for exporters. One such regulation is…

The globalization of the world economy has led to the increased participation of foreign entities in the Indian economy. In the corporate sector, foreign investment has been a significant contributor to the growth of Indian companies. With this growth, there has been a rise in the appointment of "Persons Resident…

The Indian tax system has various provisions to ensure timely and accurate payment of taxes. Section 194J of the Income Tax Act, 1961, is one such provision that deals with the TDS (Tax Deducted at Source) on payments made to professionals and technical service providers. However, the line between technical…

The term NBFC stands for Non-Banking Financial Company which is of great importance in India. It fulfills the role of ensuring proper financial financing in the economy. Therefore, the Reserve Bank of India (RBI) is the sole body responsible for the supervision and regulation of NBFCs to ensure the growth…

On 27 December 2022, the CBIC issued a circular prescribing how an unregistered person can apply for a refund. Unregistered persons can apply for GST refund on canceled contracts or premature termination of policies by obtaining temporary registration on the GST portal, the finance ministry said. A new 'Refund for…

Filing Income Tax Returns (ITR) can be a daunting task for many individuals, especially those who are not familiar with the process. However, with the help of the new ITR forms and the recent changes, the process has become much simpler and hassle-free. The government has introduced several changes in…