📘 What is a Gilt Fund? A Gilt Fund is a type of debt mutual fund that primarily invests in government securities (G-secs). These are bonds issued by the central and/or state governments to borrow money. As such, gilt funds carry zero credit risk, since they are backed by sovereign guarantee, but they are sensitive […]
The Professional Tax Registration Certificate (PTRC) is a statutory requirement for employers in Maharashtra under the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975. PTRC pertains to the professional tax that an employer deducts from the salaries of employees and remits it to the Maharashtra Government. Applicability Every employer who has even […]
Form 15CB – Applicability, Documents Required & Non-Compliance Particular Details Relevant Section/Rule Applicability Remitter Resident making payment to a non-resident Sec. 195 Taxability Remittance chargeable to tax under the Income-tax Act Sec. 5, Sec. 9, Sec. 195 TDS Requirement Tax deductible at appropriate rate Sec. 195, Sec. 90(2) Rule 37BB Exemptions Not required […]
Form 10-IEA is required to fill by individuals or HUFs those want to continue with the old tax regime in the present financial year ie FY 2023-24. The Budget 2023 proposes that from FY 2023-24, the new tax regime will be considered the default tax regime. By filling Form 10-IEA, taxpayers can choose the old tax regime. They must […]
Introduction: The new section 43B(h) will be applicable from April 1, 2024 (AY 2024-25), Section 43B(h) of the Income Tax Act introduces significant changes concerning expenses related to purchases or services from Micro and Small Enterprises. Please note this section is not applicable on Medium Enterprises. 43B(h) has been inserted as a Socio-Economic Welfare Measure […]
Overview: Section 92 of the Income Tax Act, 1961, deals with regulations of transfer pricing in India. It is a practice of determining the price of the transactions between associate enterprises and computation of Income from International transaction at Arm’s Length Price. This section has significant implications for Multi National Enterprises (MNE) operating in India […]
Clause 44 It was added w.e.f 20th August 2018 but Reporting under this clause was deferred till 31st March 2019 vide Circular No. 6/2018 dated 17th August 2018, So reporting in clause 44 is started from AY 2019-20. The Objective for insertion of this Clause 44: The main objective is to co-relate GST Data with […]
Foreign Currency Exposure: The Foreign Currency Exposure is a risk associated with the businesses and investors engaged in the activities (trade and investments) of dealing in foreign currency transactions. The entities involved in the activities of transactions in different foreign currency denominations and does not take steps to protect themselves from currency fluctuations. This exposure […]
Nostro and Vostro accounts are two types of bank accounts used in international banking transactions. These terms originate from Latin, with Nostro meaning “our” and Vostro meaning “your”. In this article, we will discuss the meaning and differences between these two types of bank accounts. What is a Nostro account? A Nostro account is a […]
PROCESS FOR APPLYING IN AN IPO THROUGH ICICI BANK Step 1: Login to your Net Banking Account. Step 2: Click on ‘Invest Online’ under the Investments & Insurance tab. Step 3: Click on ‘Invest Now’ in the Online IPO, Right Issues & Call Money column. Step 4: You would get all the open IPOs for […]