COMPLIANCE BURDEN
I-T breather to help loss-making firms conserve working capital Loss-making companies with high cash burn, including startups, would get a boost from a key amendment proposed to the Income Tax Act in the Union budget. This comes at a time when multiple consumer internet companies and large startups in India are ...
25 Jul, 2024, 06.00 AM ISTBudget 2024 shakes up tax rules, hitting stocks, properties, and gold The government has introduced significant tax changes impacting stock market transactions, property sales, and gold imports. Revised tax rates have been proposed, with a focus on simplification. Industry associations have welcomed the reforms to res...
24 Jul, 2024, 11.58 AM ISTEco Survey: Time to free up space, rethink governance A survey in New Delhi has urged the Indian state to relinquish control and reduce compliance burden in taxation to allow the private sector to grow. The survey argued that the state could free up its capacity and focus on areas where it has to, by l...
23 Jul, 2024, 12.42 AM IST- ADVERTISEMENT
Economic Survey: Ease of compliance for MSMEs required to unleash growth The Economic Survey emphasizes easing licensing, inspection, and compliance for MSMEs. Reforms in urban development, regulatory compliance, and digital connectivity, creating an export strategy, and reducing states' compliance burdens are crucial pe...
23 Jul, 2024, 12.35 AM ISTSurvey asks the government to address tax uncertainties, do away with licencing The Economic Survey highlights the need for reducing compliance burden on businesses, simplifying tax regime, and eliminating licensing to attract investment. Small and medium enterprises are particularly affected by the heavy burden. India Inc expe...
22 Jul, 2024, 05.40 PM ISTWill Budget 2024 allay tax fears of foreign investors in India? Modi 3.0 first Budget aims to resolve tax complexities facing foreign entities. SEP rule, Equalisation Levy, Board of Advance Rulings, tax treaties, Form 10F, PAN, tax refunds, digital footprints, and e-commerce compliance pose challenges. KPMG expe...
21 Jul, 2024, 06.22 PM ISTNon-tariff barrier resolution on cards India is gearing up to launch an online platform to address non-tariff barriers faced by exporters, focusing on SPS and TBT issues. The portal will monitor resolution strategies and compliance burdens to enhance competitiveness in global markets. Wi...
19 Jul, 2024, 10.14 PM ISTSMEs may get to turn the page in book of accounts; new norms likely to ease compliance burden In its report submitted with the Ministry of Corporate Affairs (MCA), the committee has suggested raising the turnover limit to Rs 75 crore in any of the past three years to maintain and audit cost records.
12 Jul, 2024, 05.30 AM ISTJail term for delay in giving out ID cards: How compliance overkill mars chemical industry It is time to do away with the complex and wide-ranging regulatory provisions in the chemical industry if the promising segment, which has a considerable number of MSME players, is to achieve its potential.
06 Jul, 2024, 10.17 AM ISTIBBI introduces electronic forms for monitoring liquidation processes IBBI introduces electronic forms to streamline liquidation, enhancing compliance. From record-keeping to distribution, the forms cover all stages. IPs face a deadline for ongoing cases under the new circular. The initiative aims to boost efficiency ...
30 Jun, 2024, 11.38 PM ISTIndia is witnessing high foreign remittances & FDI inflow: Goyal India's thriving investment appeal is evident with high foreign remittances and FII inflows, while regulatory reforms and sector openings attract global interest. Elon Musk's potential investments in the space and EV sectors signal promising develop...
30 Jun, 2024, 11.29 PM ISTRBI to ease compliance burden while fine tuning regulations to address evolving risks RBI Governor Shaktikanta Das emphasized the importance of strong governance and resilient financial systems at the global conference on financial resilience. Highlighting new guidelines set for release next month, Das noted the need for clear roles ...
21 Jun, 2024, 11.28 AM ISTIBBI proposes compliance procedures for IPs, seeks stakeholder feedback The Insolvency Bankruptcy Board of India (IBBI) has proposed changes to the corporate insolvency resolution process (CIRP) forms and compliance framework to reduce compliance burden on insolvency professionals. The changes aim to reduce the amount o...
12 Jun, 2024, 06.01 PM ISTRegulator plans to ease compliance burden on insolvency professionals The bankruptcy regulator, IBBI, aims to reduce the compliance burden on insolvency professionals overseeing stressed asset resolution without compromising accuracy. It plans to streamline reporting, deadlines, and centralize information on a single ...
12 Jun, 2024, 12.10 AM ISTCentral Excise Bill may be introduced in budget session The Centre is set to introduce the Central Excise Bill, 2024 to replace the outdated Central Excise Act, 1944 and align excise law with GST and customs. The bill aims to reduce compliance burden, enhance transparency, and address excise duty exempti...
08 Jun, 2024, 12.30 AM ISTIndian AI firms may face extra costs as EU’s AI Act kicks in The European Union wrapped up approval of the world's first law governing AI development last week. This legislation takes a tiered approach, setting varying compliance timelines and regulations based on the potential risk each AI system poses. Gene...
31 May, 2024, 06.00 AM ISTMost states out with draft rules under new labour codes, about 3 cr job opportunities in 2022-23: Labour secretary Labour secretary Sumita Dawra said the labor reforms have been put in place with an eye on ease of doing business, simplification, and reduction in compliance burden, decriminalization and seamless dispute resolution, promotion of labor market flexi...
18 May, 2024, 07.26 PM ISTSebi proposes to cut trading lot size of privately placed InvITs to boost investors' participation Markets regulator Sebi on Thursday proposed to drastically reduce the trading lot size of privately placed infrastructure investment trusts (InvITs) to Rs 25 lakh in a bid to boost investors' participation and increase liquidity of such investment v...
11 May, 2024, 10.02 AM ISTCompany registrations drop in April, but LLPs continue to scale fresh peak In April 2023-24, company registrations fell 3.7%, while LLPs surged 36%. The trend continued from the previous year, reflecting optimism and growth prospects despite technical challenges and a high base effect.
10 May, 2024, 12.19 AM ISTIndia’s growth can top 6.5% for a decade, says CEA Nageswaran Chances are “quite high” that India’s growth exceeded 8% in the fiscal year that ended in March and the economy will likely expand more than 7% in the current financial year, he said. The rainfall pattern in the months ahead will be crucial for the ...
08 May, 2024, 12.14 PM IST