We are honored to have received Two Awards at the Intuit Quickbooks Excellence Awards 2013 in association with Bloomberg TV India at Delhi on 21st November 2013. Naresh J Patel & Co, Chartered Accountants received “ACCOUNTANT OF THE YEAR” and for NRI Advisory received “CUSTOMER CENTRIC BUSINESS OF THE YEAR”. At the event, total […]
A lot of people are moving back to India because of multiple reasons like retirement, career – business or job, family or visa issues or any other reasons. “Why move” is THE most important decision. Once you have made up your mind, the next thing comes to mind is how best […]
Budget 2021 was projected as “Budget Like Never Before” creating a lot of expectations in tax benefits for tax payers. While there is not much changes in the tax codes, it is a great budget as it paves a way for establishing a trusting relationship between investors and tax payers. The […]
Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval on 13th March 2020 for introducing the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP). The Indian Government has come up […]
2020 has been an unusual year in everyone’s life affecting us both emotionally and financially. As 2020 is coming to an end, I analyzed it to understand how the year profoundly affected our financial life – businesses, finances, cash flow, income, expenses, savings, investments, insurance, families, and other aspects of our […]
Attestation of Prospective or Provisional Financial statements/ Information – Is it allowed? (a) Attestation of Prospective Financial Statements /Information? As per clause (3) of part-I of Second Schedule to the Chartered Accountants Act, 1949, a member in practice will be deemed to be guilty of professional misconduct if he engages in estimation […]
From October 1, 2020, foreign remittance under LRS (Liberalized Remittance Scheme) or payment for any foreign tour package will attract TCS (Tax Collected on Source) @ 5%. When income tax department found that out of 5,026 selected cases of foreign remittance, 1,807 did not file returns, they decided to plug the gap […]
Taking benefit of low Bank FD interest and low/negative return on equity mutual funds, many insurance agents are marketing pension plan heavily for safe guaranteed return. However, they may not be a good investment for you on Risk Adjusted After Tax basis over long term. 1. Long term vs. Short term: […]
Taking benefit of low Bank FD interest and low/negative return on equity mutual funds, many MF agents are marketing medium/long duration funds for low risk investments. However, they may not be a good investment for you on Risk Adjusted Basis. 1. Never Invest In Debt Funds Based On Past Returns a. High […]
UDYAM (MSME) REGISTRATION PROCESS: Step-wise and Other important related information CONTENT Introduction and Salient features of registration process New Registration Process: Point-wise information required Registration of existing registered enterprises Udyam Registration Certificate Updation of information Change in Classification Penalty for false information 1. INTRODUCTION Section 8(1) of the Act cast responsibility on […]
Udyam Registration (Effective from July, 2020): DEFINITION, ELIGIBILITY AND ISSUES CONTENT A. Definition of MSME B. Activities (NIC codes) not covered under MSMED Act, 2006 for registration C. How to Calculate Investment and Turnover? D. Answers to queries relating to eligibility You may watch Video explaining new MSME definition, eligiblity and […]