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 […]
From June 1, 2015, any person making a payment to a non-resident, including an NRI transferring funds from NRO to NRE account would be required to obtain a certificate from a Chartered Accountant in form 15CB and file form 15CA to the income tax department. On May 14, 2015, the […]
CBDT vide notification 67/2003 revised the rules and procedures AGAIN for payment to NRI. And this time, for good. The updated rule will also be effective from October 1, 2013. I hope they do not change the rules again. 1. As per the revised rule, Form 15CA/CB is applicable only if a […]
On August 5, 2013, CBDT (Central Board of Direct Taxes) changed the rules, procedures and forms for making payment to a non-resident from October 1, 2013. The revised forms and procedures will also be applicable for transfer of funds from NRO to NRE account. While the revised rule reduces the procedures for […]
I have been receiving lot of inquiries whether to transfer, when to transfer, whether to break NRO FD to transfer funds out of NRO to NRE accounts and many more. My answer has been and is always going to be Break FD and Transfer funds AS SOON AS POSSIBLE provided total […]
RBI and Indian Government Agencies have made a lot of changes affecting NRIs and NRI Investments in last 8 months. I have selected 15 and have summarized them in the following table for easy understanding. 15 Important Changes affecting NRIs by RBI and Indian Government # Date Topic Detail Effect / Benefit […]
As per RBI’s notification RBI/2011-12/536 dated May 7, 2012, NRIs are eligible to transfer funds from NRO account to NRE account within the overall ceiling of USD one million per financial year subject to payment of tax. Such credit of funds to NRE account shall be treated as eligible credit. I believe it is really […]