External Commercial Borrowings (ECB) in case of Foreign Loan
The framework of External Commercial Borrowings (ECB) Definition: External Commercial Borrowings (ECB) refer to commercial loans [in the form of bank loans, buyers’ credit, suppliers’ credit, securitized instruments (e.g. floating rate notes and fixed-rate bonds)] availed from non-resident lenders with a minimum average maturity of 3 years. ECBs are commercial loans raised by eligible resident […]
Digital Signatures Apply Online | Instant DSC Approval
Digital Signature Certificates (DSC) are the digital equivalent (i.e. electronic format) of physical or paper certificates. Certificates serve as proof of identity of an individual for a certain purpose, such as to access information or services on the Internet or to sign documents digitally. Digital Signatures are legally admissible in a Court of Law, as provided […]
Foreign Contribution Amendment Act, 2020
Foreign Contribution amendment act bill is introduced by Government of India on 29th September 2020. Although, the bill met with a stern opposition from the opposition the bill was passed in both the houses of Parliament despite the protest. The Government has claimed that the objective of the act is to strengthen compliance, enhance transparency and accountability […]
NPO – Section 8 of Companies Act, 2013
A Non Profit making Company is a Company which: Has in its objects, the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, and protection of environment or any other such objects. Intends to apply its profits or any other income in promoting its objects. Intends to prohibit the payment of any […]
TRANSFER PRICING IN INDIA
LEGALLANDS LLP global transfer pricing practice, in partnership with International Tax Review, is pleased to present the 2019 edition of the Transfer Pricing Controversy Guide, a discussion and overview of the leading issues, challenges and opportunities around transfer pricing (TP) controversy. WHAT IS TRANSFER PRICING? Transfer pricing, for tax purposes, is the pricing of intercompany […]
BANK GUARANTEE EXEMPTION UNDER ADVANCE AUTHORIZATION
Customs Department extending the exemption for execution of Bank Guarantee (BG) based upon the export turnover, quantum of duty, tax paid, etc. vide earlier circular No. 58/2004-Cus dated 21.10.2004 as amended vide circular Nos. 17/2009-Cus dated 25.05.2009, 32/2009-Cus dated 25.11.2009, 06/2011-Cus dated 18.01.2011, 08/2013-Cus dated 04.03.2013 and 15/2004-Cus dated 18.12.2014 in view of the implementation […]
Section 10A of Insolvency And Bankruptcy Code, 2016 (IBC )
In pursuance of the aforesaid announcement, on 5th June 2020, an Ordinance titled “Insolvency And Bankruptcy Code (Amendment) Ordinance 2020” came to be promulgated by insertion of section 10A which has practically suspended the applicability of section 7, 9, and 10 of the Insolvency & Bankruptcy, 2016 (“the Code”) for initiation of fresh bankruptcy proceedings against persons impacted […]
Ease of Doing Business in India
FIRST TIME IN THE HISTORY, INDIA HAS JUMPED 30 PLACES TO BREAK INTO THE TOP 100 COUNTRIES FOR DOING BUSINESS AND SECURED 100TH RANK. India is closer to global best practices in the regulatory framework for business; all this was achieved by the Narendra Modi government as exemplified by the World Bank’s latest report on Doing Business […]
Is Online Gaming Legal in India? | Game of Chance
In January post publication of its report entitled “Legal Framework: Gambling and Sports Betting” Law Commission of India inclusive of Cricket, the Commission released a press note stressing that its suggestion was to banning on betting and gambling activities in India. Now if Central Government or any state specific did consider regulating it, the Report […]
Key Highlights of Union Budget 2021-22
In this 21st Century, India has presented for the first time its Digital Budget for the Financial year 2021-22was finally tabled by the Modi Government. The Cabinet chaired by Prime Minister Narendra Modi has approved the Budget for the Fiscal year 2021-22, prepared by finance Minister’s NirmalaSitharamanand announces the reforms in fields of Government Earnings, Spendings, Taxes, Agriculture, Companies, FDI […]
