Liberalization of Foreign Direct Investment Other Financial Services,.

Liberalization of Foreign Direct Investment - Other Financial Services Department of Industrial Policy & Promotion in order to provide easy finance to the Indian Industries has liberalized the Foreign Direct Investment ('FDI') limits in Non-Banking Financial Company. Para 5.2.26 of the Consolidated FDI Policy has been replaced with the following para subject to specified conditions in accounting outsourcing companies in India: Before Circular: Foreign investment in NBFC is allowed under the automatic route in only the following activities:       i.        Merchant Banking      ii.        Under Writing      iii.       Portfolio Management Services     iv.        Investment Advisory Services      v.        Financial Consultancy     vi.        Stock Broking    vii.        Asset Management    viii.       Venture Capital     ix.        Custodian Services      x.        Factoring     xi.        Credit Rating Agencies    xii.        Leasing & Finance    xiii.       Housing Finance   xiv.        Forex Broking    xv.        Credit Card Business   xvi.        Money Changing Business  xvii.        Micro Credit  xviii.       Rural Credit After Circular: Other Financial Services: Financial Services activities regulated by Financial Sector regulators viz. Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority direct foreign investment in India, The Pension Fund Regulatory and Development Authority, National Horticulture Board or any other financial sector regulator as may be notified by Government of India subject to certain conditions. % of Equity / FDI Cap : 100% Entry Route: Automatic Further, minimum capitalization norms for Foreign Direct Investment in Non-Banking Finance Companies have been done away with. Investment in "Other Financial Services" activities shall be now subject to conditionalities, including minimum capitalization norms, as specified by the concerned Regulator or Government Agency. Get more information visit at:

The 'mistress hunters' who try to split up cheating spouses and their lovers

Desperate wives and husbands in China are hiring “mistress hunters” to sabotage their partner's extramarital relationships.

Zhu Lifei heads one such firm. The team at Changzhou Sincere Heart Marriage and Family Consulting includes psychologists, lawyers, counsellors and beauticians. A recent plot to thwart a relationship invovled covering a woman in chicken blood and damaging her car to fake an accident in order to attract her husband’s attention.

Projects last six months on average and can cost between $15,000 to $150,000. Most clients are women, says Zhu.

Original Source: http://bit.ly/2ha51Uq

Jan Dhan Deposits Stabilise; Get RS 1,487 crore in 7 Days.

The big surge in deposits into Jan Dhan accounts after the demonetisation seems to be stabilising now as just Rs 1,487 crore has been parked in them over 7 days to November 30, as against Rs 8,283 crore in the previous week in Setting up in India. 

Deposits in the 25.85 crore such accounts totalled Rs 74,321.55 crore at the end of November 30, as per the Finance Ministry data. 

The overall amount was Rs 72,834.72 crore in 25.68 crore accounts at the end of November 23. 

Original Source: http://bit.ly/21eSEaj

Income Tax Departments Detects Undisclosed Rs 1.64 Crore in Jan Dhan accounts.

The Income Tax department has found "various inconsistencies" in cash deposits in Jan Dhan accounts and detected about Rs 1.64 crore deposited by persons who have never filed returns as their income shown is below the taxable limit in foreign companies subsidiary.

"Investigation being conducted by the Income Tax Department across India into the sudden surge in cash deposits in Jandhan accounts have revealed various inconsistencies," a Finance Ministry statement said today. 

Original Source: http://bit.ly/2h49mYH

For Pay Day Rush, banks cut withdrawal limits, ask companies to give prepaid cards.

BANKS ACROSS the country are bracing for the next big test of their liquidity position — meeting month-end demand of lakhs of salaried employees and pensioners. To beat the imminent cash crunch, banks are setting internal daily cash withdrawal limits per account, while the government has asked private companies to make payments to employees digitally.

Banks have also suggested to large companies that they should give prepaid payment cards to their employees in lieu of cash, industry sources said.

We are making arrangements so that there aren’t any problems in the days to come. There should not be any inconvenience to the salaried class, pensioners or any section of society. We have made arrangements, and will be able to say whether these are adequate or not only on the day when money comes into the accounts of pensioners and salaried people. We’re hopeful that there won’t be any problems,” said a top official of the Bank of Maharashtra.

Original Source: http://bit.ly/2gTWYym

Black Money Tax: Government's New Income Declaration Scheme in 10 Points.

With the ban on 500 and 1,000-rupee notes now more than two weeks old, the government has proposed new rules to tax black money that is being unearthed. The bill was submitted on Monday for parliament's review by Finance Minister Arun Jaitley as the government is being attacked by a united opposition over its sudden withdrawal of 86 per cent of the notes in circulation to check black money and corruption. The move has plunged the country, especially rural India, into a major cash shortage.

1. The old 500-and 1,000-rupee notes must be deposited in banks by the end of the year. Deposits over 2.5 lakhs will be studied by tax officials.
2. Those who acknowledge they have placed black or previously untaxed money in their accounts will pay 50 per cent in a combination of levies and taxes.                                                                                                                                                                                                                       Original Source: http://bit.ly/2g0cnc2

PM Modi Says No Shortage Of Currency, Problem Lies In Where The Money Is

A day after making an impassioned appeal to the nation to bear with the hardships of demonetization for 50 days, Prime Minister Narendra Modi was in Ghazipur to inaugurate railway projects in the city. Speaking on the inconvenience faced by the public due to demonetization, PM Modi said there was no shortage of currency and the real problem lies in where the money is. Saying that he was pained by the hardships faced by the people, Modi hit out at Opposition parties saying that those with black money are nervous. Read more information visit at:  goo.gl/HKvsqB

Singling out the Congress for opposing demonetisation, he said: “Congress imposed emergency and turned the country into a prison for 19 months, just to save Indira Gandhi’s parliament seat. Congress also demonetised the 25 paise coin without asking anyone. They did something of their stature, I did of mine payroll outsourcing services.

ATMs Will Start Dispensing Rs 2000 Notes By Tomorrow: Economic Affairs Secretary.

Economic Affairs Secretary Shaktikanta Das on Monday briefed the media over the issue of demonetisation and the government measures to tackle the inconvenience reported by citizens, hours after Prime Minister Narendra Modi chaired a meeting of senior Cabinet Ministers. "The focus of the government is to activate all channels whereby cash is dispensed to the public," said Das, listing down the steps being taken to make transactions easier. Get more information visit at: goo.gl/Yej6s1

Das said that the cash holding limit for banking correspondents has been hiked to ₹50,000, adding that, "Banking correspondent will be now allowed to withdraw cash multiple times as opposed to only once a day earlier in company registration in India.

5 Advantages of an Online Company Formation Services.

It used to be that pvt ltd company registration in Delhi was process that most owners for new business dreaded doing. But that was before online company registration was made possible. Now gone are the days when a company owner has to go the inconvenience of personality visiting a registration center, Faced with the possibility of having to wait days before his business can be declared official.

Today, forming a company is now a simple and straightforward process. That said, there are still plenty of would-be business owners who are reluctant to take advantage of registering a company through the Internet simply because it is known to be a notorious playground for shameless scammers and fraudsters. To combat this problem, online company registration service providers have taken extra measures to provide security and protect the privacy of their clients.

There are actually plenty of reasons why entrepreneurs ought to register their companies through the Internet, but here we are only going to talk about the 5 advantages of registering a company online in India.

Income Tax Collection Rises 30% in June Quarter.

The Tax department is hopeful of meeting the revenue assortment target for twelve month 2016-17, a prime official aforesaid on Tuesday. 

Indirect tax assortment rose regarding thirty.8 per cent throughout april-june to RS one, 99, 970 crore, against Rsone, 52,740 large integer within the corresponding amount a year past, 
The collection up to June indicates that twenty five.7 per cent of the annual budget target of indirect taxes has been achieved within the 1st 3 months of the yr.  PVT LTD company registration in Delhi.

We have done fine to date. assortment within the June quarter from central excise customs and serve tax place along square measure thirty per cent a lot of from the year-ago amount. Central board of excise and customs chairman Najib sovereign on the sidelines of an occurrence here.

Start collecting your TDS certificates now, deductors can't delay anymore.

Tax payers can start collecting their TDS certificates now as the last date for all detectors to finalise and issue these was over yesterday - May 31. This means that today - June 1, 2016, onwards all detectors of tax at source (e.g. employers, banks etc.) have to compulsorily provide you the TDS certificate when you ask them for the same else face a penalty. 

Time limit for issue of TDS certificates: 
The income tax department has set time limits for issuing of TDS certificates (Form 16 and 16A) by the detectors.

For more information. Click on this: Chartered accountant firms

Tax grievances: Income Tax department to ensure ‘E-nivaran’

The income tax department has launched a special electronic grievance redressal system called ‘e-nivaran’ in order to fast track taxpayer grievances and ensure early resolution of their complaints.

A separate and dedicated window for grievance redressal has been launched recently in the has been launched recently has been launched recently in the income tax business application (TBA), the new smart electronic platform for the regular operations of the department.

The facility is called ‘e-nivaran’ (electronic solution and acts to integrate all online and physical complaints gathered by the department at this platform which will be monitored by the Assessing officer of the case upto the supervisory officers in a paperless environment.

The new system is called unified grievance management system and is acronymed ‘e-niravan’ The system not only records the origin of the grievance on the electronic platform it works on but it also keeps tracking it till it reaches its logical conclusion for final resolution “a-senior IT official said.

For more information: http://bit.ly/25bMCNl

Income Tax Department Lists Norms For Faster Tax Refunds..

The CBDT has issued guidelines for expeditious tax refund of up to Rs.5000 in cases where the department wants to adjust the refund with a pending demand, which has been contested by the assesse. The CBDT, further said where the tax demand has not been contested by the assesse, the CPC would issue a reminder to the tax payer asking to either agree or disagree with the demand and submit response on the e-filling portal within 30 days. Tax consultant in India

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Tax consultants provide their clients with financial and tax-related advice. They meet with client over the phone and-in person to discuss their clients’ tax situations. They educate their clients on tax options, including how to legally lower tax liability or how to compare taxes bases on their investments, Tax consultants might prepare and complete client tax returns and assist clients in finding the right deductions, credits and adjustment based on their financial situation. Tax consultants must be well-spoken and have excellent communication skills they deal with clients and other professionals on a daily basis. Ruchi Anand & Associates is a company of Tax advisor Ritu Anand & working as a tax consultant in India, tax consultant firms in India, Internal audit services in India, Risk advisory services in India. You can also join Ruchi Anand & Associates for consultancy and taxation related for your Company.