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Taxes are a crucial part of the Indian financial system as they contribute significantly to the government’s revenue sources. To keep things fair, the Income Tax Act 1961 has a superb provision – Section 270A; let’s break it down and understand how it works to keep our tax system fair and honest. Suppose you have
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We have an in-depth exploration of the SEC’s recent and proposed Broker-Dealer Amendments—a comprehensive guidebook decoding the intricate world of securities transactions and the evolving roles within the financial landscape. Here, we work through: 1. What are Broker-Dealers? 2. Impact of FINRA’s Regulatory Notice 23-02 3. SEC Proposes Amendments to Enhance Customer Protection Rule 4.
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Introduction Tax audit is a crucial aspect of the Indian income tax system, governed by Section 44AB of the Income Tax Act, 1961. It is a comprehensive examination of an individual’s or a business organization’s financial records, tax returns, and books of accounts to ensure compliance with the provisions of the Income Tax Act. The
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Introduction The Foreign Exchange Management Act (FEMA) is the critical piece of legislation in India, regulating foreign exchange transactions, investments, and payments. It encompasses various aspects of international financial dealings, including the requirement for companies to submit a mandatory Annual Performance Report (APR). It was introduced in 1999 to replace the previous Foreign Exchange Regulation
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Introduction As an LLP is a separate legal entity therefore it shall be under obligation to maintain annual accounts presenting true and fair view of state of affairs. Every LLP is required to file “Statement of Accounts and Solvency” in prescribed form with the Registrar every year. Applicability Every LLP is required to get its
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