Friday, February 10, 2017

Comprehensive analysis of Income Tax Proposals in Budget 2017

Read our comprehensive overview of Income Tax Proposals in Budget 2017/ Finance Bill 2017.

Monday, May 9, 2016


BHAVESH K. SAVLA, chartered accountants bag two more contracts for setting up liaison office in India, for UK Multi national and Russian Multi national.

Wednesday, September 2, 2015

Income tax return filing extended till Sept 7

Earlier there was an extension only for income tax payers in Gujarat but now it has been extended for income tax payers all over India. Earlier due date was 31 august but now it is September 7 for all.

Sunday, January 25, 2015

18 more months for Listing of Stocks (listed exclusively on regional stock exchanges) on BSE/ NSE

Companies exclusively listed on  exiting stock exchanges to get time for listing on nation wide stock exchanges 
In light of stock exchanges exiting in terms of SEBI circular dated May 30, 2012, many of their exclusively listed companies have expressed concern that they are unable to get listed on nation wide stock exchanges due to shortage of time in complying with the listing norms of nation wide stock exchanges. Keeping in view their concerns and interest of shareholders of such companies, the Board decided to give time of eighteen months, within which such companies may obtain listing subject to compliance with the listing requirements of the nation wide stock exchanges and till such listing the shares of exclusively listed companies will remain on the dissemination board of nation wide stock exchanges.

Tuesday, December 16, 2014

Companies (Amendment ) Bill 2014 passed in Lok Sabha

Companies (Amendment ) Bill 2014 was passed in  Lok Sabha today on 16-December-2014.

The main amendments are scrapping of Paid up Capital, Making Common Seal optional, prescribing punishments for accepting deposits in contravention of the Act, removing public inspection of Board Resolutions.

Most of the amendments are meant for easing the way to do business.

Sunday, December 15, 2013

Now Residents of Macau and Hong Kong not permitted to open Branch Offices in India

Along with the earlier restriction for opening of branch offices for residents of China and Iran, RBI has also now disallowed residents of Hongkong and Macau from opening branch offices in India.

NOTIFICATION [NO. FEMA. 293/2013-RB]/GSR 767(E)DATED 12-11-2013

In exercise of the powers conferred by sub-section (6) of section 6 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following amendments to the Foreign Exchange Management (Establishment in India of Branch or Office or Other Place of Business) Regulations 2000, Notification No. FEMA 22/2000-RB dated 3rd May, 2000, namely:—
1. Short Title and Commencement:—
(i) These Regulations may be called the Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) (Amendment) Regulations, 2013.
(ii) They shall be deemed to have come into force from the date of their publication in the Official Gazette.
Amendment to the Regulations:—

2. In the Foreign Exchange Management (Establishment in India of Branch or Office or Other Place of Business) Regulations, 2000 (Notification No.FEMA 22/2000-RB dated May 3, 2000), hereinafter referred to as the 'Principal Regulations', in Regulation 4, for the words, "Iran or China", the words "Iran, China, Hong Kong or Macau" shall be substituted.

Saturday, December 15, 2012

How to set up a tax friendly Liaison Office or Representative Office in Inida

How to set up a tax friendly liaison office or representative office in India.

Read my entire article on the following link: