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Summary of Borivali East (Mumbai) Real Estate project on Joint Venture basis:

One of our clients is owning the following land in Borivali East , Mumbai. They are looking for a reputed Builder from Mumbai who will be interested to become a Joint Venture Partner and execute the project. Location Borivali East 2 Minutes walking distance from Borivali Station towards Dahisar side. Total Area. (FSI) : 104000 …

Summary of Borivali East (Mumbai) Real Estate project on Joint Venture basis: Read More »

New TCS from 1st October 2023 for various foreign remittances:

However, if the remittance for education exceeds Rs 7 lakhs, a nominal TCS rate of 0.5% comes into effect. It’s important to note that if the remittance for education is not funded by a loan, a slightly higher TCS rate of 5% is charged. This ensures that larger educational expenses exceeding Rs 7 lakhs are …

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CBDT notifies changes to Rule 11UA in respect of ANGEL TAX

The Finance Act, 2023, brought in an amendment to bring the consideration received from non-residents for issue of shares by an unlisted company within the ambit of section 56(2)(viib) of the Income-tax Act, 1961(the Act), which provides that if such consideration for issue of shares exceeds the Fair Market Value (FMV) of the shares, it …

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INVESTOR COMPLAINTS: SEBI ASKS REGULATED ENTITIES TO SUBMIT ACTION TAKEN REPORT IN 21 CALENDAR DAYS

Releasing a framework for the redressal of investor grievances through the SEBI complaint redressal (SCORES) platform and linking it to an online dispute resolution platform, market regulator Securities and Exchange Board of India (SEBI) has asked regulated entities, including listed companies, registered intermediaries and market infrastructure institutions (MII) to submit the action taken report (ATR) …

INVESTOR COMPLAINTS: SEBI ASKS REGULATED ENTITIES TO SUBMIT ACTION TAKEN REPORT IN 21 CALENDAR DAYS Read More »

RBI ISSUES GUIDELINES FOR RESPONSIBLE LENDING

The Reserve Bank of India (RBI) has issued guidelines for banks, non-banking financial companies (NBFCs) and other regulated entities to address the issues faced by the borrowers and towards promoting responsible lending conduct among such entities. In terms of the guidelines on Fair Practices Code issued to various Regulated Entities (REs) since 2003, REs are …

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Rs 5,000 fine per day! RBI orders banks, NBFCs to release property docs within 30 days of loan repayment.

SUMMARY:.The RBI has issued a directive requiring Regulated Entities (REs), including banks, NBFCs (including HFCs), ARCs, LABs, and Co-Op Banks, to release all original movable and immovable property documents within 30 days after the full repayment or settlement.The move will come into effect on December 1, 2023.It further said failure to comply with this directive …

Rs 5,000 fine per day! RBI orders banks, NBFCs to release property docs within 30 days of loan repayment. Read More »

Introduction of Electronic Credit Reversal and Re-claimed statement- Latest CBIC Advisory dated 31.08.2023

CBIC vide Notification No. 14/2022 Central Tax dated 05.07.2022 has provided for certain changes in FORM GSTR-3B so as to enable the taxpayers in reporting correct information regarding Input Tax Credit (ITC) availed, ITC reversal, ITC re-claimed and ineligible ITC. Currently, the invoices not meeting the necessary conditions for availing ITC shall be reversed in …

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