Revised Guidelines for consideration of proposals for acceptance of foreign hospitality under the Foreign Contribution (Regulation) Act, 2010

The Foreign Contribution (Regulation) Act, 2010 (‘Act’) was enacted to consolidate the laws regulating the acceptance and utilization of foreign contribution or foreign hospitality. In the year 2011, the Ministry of Home Affairs (‘MHA’) issued Guidelines for consideration of proposals... Read More →

Posted in Regulatory |

Corporate Social Responsibility Under Section 135 of Companies Act 2013

Corporate Social Responsibility Under Section 135 of Companies Act 2013 Background  The importance of inclusive growth is widely recognized as an essential part of India's quest for development. In line with this national endeavor, Corporate Social Responsibility (CSR) was conceived... Read More →

Posted in Audit & Assurance |

Relaxation for Small Companies

Background  The Ministry of Corporate Affairs (MCA) has taken several measures in the recent past towards ease of operating and relaxation in doing business for the corporate. These included reclassifications of various provisions of the Companies Act, 2013, introducing the... Read More →

Posted in Regulatory |

Notification of Overseas Investment Rules, Regulations & Master Directions, 2022

In keeping with the spirit of liberalization and to promote ease of doing business, the Central Government and Reserve Bank of India had been progressively simplifying the procedures under Foreign Exchange Management Act, 1999. Continuing with the same intent, a... Read More →

Posted in Regulatory |

Tax Exemptions of sums received for Treatment/Demise Due to COVID 19

CG notifies conditions for tax exemption of sums received for COVID-19 treatment or on demise due to COVID-19 by issuing three notifications dated August 5, 2022 Notification No. 90/2022 - Notifies conditions under clause (ii)(c) to the first proviso to... Read More →

Posted in Direct Tax |