Introduction The Liberalised Remittance Scheme (LRS) is a financial mechanism that grants residents, including minors, the liberty to remit up to USD 2,50,000 per financial year for a variety of transactions. Enabling individuals to engage in permissible current and capital account activities or a combination of both, the LRS has been an integral part of …
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External Commercial Borrowings (ECB) and Trade Credits (TC) constitute vital components of the global financial landscape, serving as crucial mechanisms for cross-border transactions and financing diverse purposes. In this comprehensive guide, we aim to provide an in-depth exploration of the fundamental aspects of ECB, addressing common queries and offering insights into eligibility, currency considerations, recognized …
If you’re wondering whether you have to pay taxes when offering services on your personal website, the answer isn’t as complicated as it may seem. Let’s break it down in simpler terms. There’s a tax rule called Section 24 that says if you’re running an online business and collecting something called Tax Collected at Source …
Introduction: In recent years, crowdfunding has emerged as a popular means of financing new business ventures, creative projects, and philanthropic activities. This innovative approach involves reaching out to a broad audience through social media platforms, presenting ideas, and soliciting voluntary contributions. While crowdfunding has proven to be a game-changer for many, it comes with its …
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In the ever-evolving landscape of business operations, companies sometimes find themselves facing the need to wind up their Branch or Liaison Offices. Whether due to strategic shifts, regulatory changes, or other business considerations, the closure process involves a series of meticulous steps, especially when it comes to dealing with the regulatory aspects. In this blog …
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Expanding business operations to a new country involves navigating through a series of regulatory processes. In the context of setting up Branch Offices (BO) and Liaison Offices (LO) in India, the Reserve Bank has laid out specific guidelines. This blog aims to demystify the procedures for undertaking additional activities or establishing more offices, shedding light …
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In the big world of business, companies from other countries can open a Branch Office in India. The Reserve Bank, which manages financial stuff, gives the green light for this. Let’s break down what these Branch Offices can do, talk about Special Economic Zones (SEZs), and touch on foreign banks’ branches. What Branch Offices Can …
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In the globalized world of business, the desire to expand into new markets often leads corporations to explore opportunities in diverse regions. For a body corporate incorporated outside India, the prospect of opening a Liaison Office (LO) or Branch Office (BO) in India is an avenue that requires careful consideration of regulatory frameworks outlined in …
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In the dynamic landscape of global business, companies are constantly exploring avenues for expansion and collaboration. One avenue often utilized for establishing a presence in a foreign market is the establishment of a Liaison Office, also known as a Representative Office. In India, the regulations surrounding Liaison Offices are stringent yet accommodating, offering a unique …
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Determining an individual’s Non-Resident Indian (NRI) status is a pivotal aspect of India’s tax framework, contingent upon their residential status as elucidated in Section 6 of the Income-tax Act. A profound understanding of these provisions is imperative for individuals and tax practitioners alike, as they navigate the intricacies of taxation and ensure compliance with the …
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