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This category contains 23 posts

MSME new classification criteria and benefits of registration

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 […]

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. The Ordinance clearly defines ‘Regulated […]

Understanding The Benami Law In India: FAQs

[Source: www.mondaq.com; Article by Bharat Chugh and Kushank Sindhu, Luthra & Luthra Law Offices] In the last few months we have seen a major crackdown on Benami properties and their owners by the Government. Specialised Anti-Benami units have been set up by the Income Tax department across the country and in almost every state and […]

Service of notice by WhatsApp recognised as valid by Bombay HC

[By Shaleen Shah (Partner), VNCA] Giving cognizance to modern communication technologies, in a hard hitting Order, the hon’ble Bombay High Court has recently accepted communication through Whatsapp to be a valid "service of notice". The following are the relevant excerpts from the Order: FACTS: The Plaintiffs obtained addresses of the Defendant from the Central Board […]

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

[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 which the taxpayers’ money is […]

Cabinet nod for real estate Bill paving the path for a regulator for the real estate sector

Cabinet nod for real estate Bill paving the path for a regulator for the real estate sector

Business Email Etiquette Crash Course – 5 Basic Rules

Don’t let the speed and ease of sending e-mail blind you. Try & cultivate the following 5 basic email etiquettes: 1. Clear, concise, to the point & meaningful Subject-Line: Respect the recipient’s time. Don’t expect him/her to work to figure out why you’re writing. Unclear e-mails risk being ignored. 2. Summarize long discussions: Scrolling through […]

India’s Top Lawyers & their formula for success (.. and the fees they charge!)

Author: Vellalapatti Swaminathan Iyer The best way to learn law is to see the great masters at work. The way they study the facts, analyze the law and make their presentation to the Court can teach you more than you can ever hope to learn in a classroom. And the fees they charge can inspire […]

The Unimportance of Practically Everything

[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 of mine is the Executive […]

Key OECD Recommendations

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 of the Lokpal/Ombudsman mechanism. 3) […]