Reserve Bank of India recently painted quite a gloomy picture for the Indian economy and rating house Moody’s too pointed out how corruption and scams are hampering the country’s business environment.
According to research firm Dun and Bradstreet, India will become a $5.6 trillion economy by 2020. The firm has also predicted a three-fold jump in the country’s gross domestic product, from $1.7 trillion last fiscal, on the back of rapid investment and growing consumer expenditure.
1. India’s GDP is on a roll
India’s gross domestic product is reaching new heights every year. India is now the 10th biggest economy … Read more
Income tax payment can be done through online or manually by furnishing the hard copy of the challan at the designated bank. The Government has upgraded itself and introduced e-payment facility for income tax. In this Blog, we look at the procedure for online payment of income tax.
Mandatory Online Payment
Private limited company, one person company and limited company are mandatorily required to pay tax using internet banking facility. Further, taxpayers other than company who are liable to get their accounts audited as per section 44AB are also required to mandatorily pay income tax online.
Online income tax payment … Read more
Developing Asia is facing considerable headwinds. Delayed recovery in major industrial economies and moderating prospects for the large economies of the People’s Republic of China and India weigh on region’s project growth forecasts. With the european economy meltdown, asian economy continues to grow.
Emerging : Asia leads global growth
A key factor behind Asia’s rising influence is the size of its economy. In 1990, the top five economies were not among Asia. However, now the top three economies are Japan, China and India.
Asia’s share in world GDP in real US$ purchasing power parity (PPP) was 23.2 percent. … Read more
An audit is more than a formality, it is a necessity to protect your business and encourage it to thrive. Early warnings, open communication and pragmatic resolution of issues are the essential features.
Audit testing procedures tailored to the specific audit, our firms maintain excellent relationships with their clients. This quality-led approach means members provide an intelligent, constructive and challenging audit to every one.
Statutory Audits : It is a legally required review of the accuracy of a company’s or governments financial records. The purpose of a statutory audit is the same as the purpose of any other audit … Read more
RBI has liberalized and simplified the the procedures for institution of Project Offices in Asian countries. General permission has been granted to foreign entities for fitting Project Office(s) in Asian country. This permission is subject to the adherence to the provisions of Regulation four, and Regulation five of the FEMA Regulation No. twenty two that bury alia includes the subsequent conditions to be glad.
(i) It’s secured from associate Indian company a contract to execute a project in India; and
(ii) The project is funded by inward remittal from abroad; or
(iii) The project is funded by a bilateral or … Read more