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MSME new classification criteria and benefits of registration

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July 27, 2020
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Central Government has issued MSME Notification on 26-Jun-2020 laying down new criteria for classifying enterprises as micro, small and medium enterprises.  Following are the composite criteria of investment and turnover for classification: Micro Enterprise: where the investment in plant and machinery or equipment does not exceed Rs.1 Cr and turnover does not exceed Rs.5 Cr. Small Enterprise: where the investment in

What is Unregulated Deposit Scheme Ordinance, 2019?

[Source: www.taxmann.com; Editorial Team] The President of India has promulgated ‘The Banning of Unregulated Deposit Scheme Ordinance, 2019’ on February 21, 2019. The Ordinance aims to provide comprehensive and unified mechanism to ban the unregulated deposit schemes (or Ponzi schemes or Pyramid Schemes) and to protect the interest of depositors.

High Court Shocked At Loot Of Taxpayers Funds By Corrupt Babus. Calls For Non-Cooperation Movement By Taxpayers To Eradicate “Hydra Headed Monster” Of Corruption

February 17, 2016
[Source: itatonline.org] Hon’ble Justice A. B. Chaudhari of the Nagpur Bench of the Bombay High Court has passed severe strictures against the Government for turning a blind eye to the rampant corruption in the Country. The learned Judge lamented that “It shocks one and all as to the manner in
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The Unimportance of Practically Everything

October 25, 2012
[Source: Harvard Business Review (HBR Blog Network); Author: Greg McKeown] Greg McKeown is the CEO of THIS Inc., a leadership and strategy design agency headquartered in Silicon Valley. He was recently named a Young Global Leader by the World Economic Forum. Greg did his graduate work at Stanford. A friend
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Key OECD Recommendations

October 18, 2012
OECD has issued a report outlining the key recommendations that are critical to India’s long-term economic performance and social development. Glimpse of these recommendations are presented herein below: 1) Implement a revised Direct Tax Code which streamlines collection and reduces the overall burden of direct taxes. 2) Strengthen the independence
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Profitable discoms power Gujarat ahead

December 30, 2011
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At a time when most parts of the country are facing power shortages and debt-laden state electricity boards and distribution companies (discoms) are seeking another bailout from the Centre, power sector entities in Gujarat are a study in contrast. All of Gujarat’s four state-owned discoms – Uttar Gujarat Vij Company,
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The grand SEZ dream on deathbed

December 29, 2011
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Calculations seem to have gone offtrack along the way; the initiators blame policy confusion and lack of comprehension in coordination. The Special Economic Zone (SEZ) policy was launched with considerable hype in India in 2006, when the economy was booming and investors around the world were looking at the country
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