India has emerged as a major exporter in the last few decades, driving India’s economy to a new level. The number of products exported from India has grown significantly and the market is bigger than before. Many foreign markets rely heavily on India to import certain goods into their country. This article focuses on the…
The Reserve Bank of India (RBI) reports that foreign Indians sent US $ 24.6 billion to India between 2005 and 2006. In this way, India continues to maintain its position as the largest recipient of international remittances. The World Bank estimates in 2005 that India leads with US $ 23.5 billion, followed by China and…
Banking systems range from ATM and credit card networks online and offline processing through high value interbank money transmission systems, to back-end accounting systems that track it all and then settle down. There are specialized systems for everything from trading of shares into bills of lading; and large companies have internal accounting and cash management…
In a simple sense Loss, means the excess of expenses over income. Loss arises when income made during the financial year by the taxpayer is less than the expenditure during the year. There can be house property loss or capital loss or loss from business or profession or other income. In this blog, we will…
LEIL has been accredited by the Reserve Bank of India as the issuer of the Official Business Identity under the Payment and Payment Systems Act 2007 (revised 2015). LEIL is accredited by the Legal Entity Identifier Foundation (GLEIF). Legal Entity Identifier (LOU) is authorized to issue and manage LEI. This article emphasizes why you need…
The Reserve Bank of India (RBI) has tightened the standards of non-bank financial institutions (NBFC) and banned lending of interest-bearing companies to executives and directors. The NBFC is also obliged to disclose its disclosure to all soft sectors such as real estate, equity loans and mortgage loans. Table of content Introduction NBFC Borrowing and Disclosure…
Under the GST, a taxpayer registered with the GST may claim a refund of any taxes and interest paid or any other GST amount by applying for a GST refund within 2 years from the due date. In this article, we look at the process of obtaining GST refunds and non-refundable input tax credit under…
Ayushman Bharat, India’s leading Government program, was launched as recommended by the National Health Policy 2017, to achieve the vision of Global Health Care (UHC). This initiative is designed to meet the Sustainable Development Goals (SDGs) and its compelling commitment, “leaving no one behind.” This article focuses on Ayushman bharat Yojana. Table of content Introduction…
If you are running your own import-export business then you will have an IEC number. Every person dealing with imports and export has to have an IEC to conduct their business. The IEC (Import Export Code) is a required identifying document for every import/export business in the country. Except under specifically granted exclusions, a company can make…
If you are running your own business, then you must know that bonuses are one of the best motivators. The employees feel that they get rewarded for their work. This can bring very good results for both you and your business. Employee Stock Option Plan is also similar to a bonus. By owning shares of…