Introduction The Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006 is a crucial legislation in India aimed at promoting, developing, and enhancing the competitiveness of micro, small, and medium enterprises (MSMEs). Its objective is to provide Promotion and development, enhancing Competitiveness of MSMEs. Applicability: Under the MSME Development Act, 2006; vide notification dated 26th […]
Read More →The Budget 2022 is for digital India, a step to boost the start-up in India. Govt has also opened defence sector for industry, 25% R&D budget is for start-ups and academia to enable growth of the defence infrastructure with the help of technology companies. Following amendment proposed in Income Tax Amendment section 14A (relating […]
Read More →The MSME Development Act, 2006 (‘MSMED Act’) strengthens the provisions relating to delayed payments to the Micro, Small and Medium Enterprises (‘MSME’) by specifying the maximum credit period and higher penal interest if delayed beyond that period. If there is a delay in payment, companies will have to mention the reason for such delay in […]
Read More →MANDATORY REGISTRATION AS LEGAL ENTITY IDENTIFIER (LEI) FOR OTC DERIVATIVES MARKETS The Reserve Bank of India vide its circular RBI/2016-17/314 FMRD.FMID No.14/11.01.007/2016-17 dated June 01, 2017 has mandated the implementation of the LEI system for all participants (existing & future) in the Over-the-Counter (OTC) markets for Rupee Interest Rate derivatives, foreign currency derivatives and credit […]
Read More →With the announcement of the Hon’ble Prime Minister banning Indian Currency of Rs. 500 & Rs. 1000, the Voluntary Disclosure of Income Scheme, gold monetization scheme, opening of bank accounts, etc. everything seems to have fallen in place. This proves that it is not just an impromptu decision taken by the government, It was a move planned […]
Read More →On the eve of 08th November, 2016 when half of the nation was busy watching saas-bahu stereotypes, and the other half in witnessing the fate of United States of America, our Hon’ble Prime Minister along with Reserve Bank of India had all their moves ready to make a landmark and everlasting impact in the history […]
Read More →Earlier the benami transactions are defined as a “transaction where a property is held by or transferred to a person, but has been provided for or paid by another person”. This Act has amended this definition by to add other transactions which qualify as benami, such as property transactions or arrangement where: where a property […]
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