CAclubindia Articles

Appointment of foreign national as a director of Indian company

CS MOHIT SALUJA 09 January 2023 at 08:55

The company’s law in India does not bar foreign nationals to become directors in Indian companies. A foreigner or a non-resident Indian can become an executive or a non-executive/independent director of Indian companies whether public or private.

Digital rupee: The next UPI?

Ayush Vats 09 January 2023 at 08:55

The digital rupee, also known as the Digital Indian Rupee (DIR), has been a hot topic in the Indian financial sector for some time now. The idea behind the digital rupee is to create a digital version of the Indian currency that can be used for online transactions, just like the UPI.

SEBI introduces IRRA Platform

CS Lalit Rajput 07 January 2023 at 17:44

SEBI on 30th December, 2022 has issued a circular vide notification no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/177 and has introduced Investor Risk Reduction Access (IRRA) platform

Bogus Purchase and Input Tax Credit Notice

Chetan Chauhan 07 January 2023 at 15:51

A bogus purchase and input tax credit notice is a formal communication issued by a tax authority, such as the GST (Goods and Services Tax) department, to a taxp..

RBI amends Foreign Investment guidelines for reporting in SMF on FIRMS

CS Lalit Rajput 07 January 2023 at 11:15

The Reserve Bank of India (RBI)vide Notification no. RBI/2022-23/160 A.P. (DIR Series) Circular No. 22, dated04.01.2023has amended the guidelines for reporting ..

Conditions of revocation of declared dividend

FCS Deepak Pratap Singh 07 January 2023 at 10:35

As you are aware that "Dividend" is a return on investment made by shareholders in a Capital of a Company and it is different from return on borrowed Capital as interest. A dividend is share of profit to the shareholders of a company ,in which he/she /it has invested.

Proposed amendments in IBC in the year 2023

CS Peer mehboob 07 January 2023 at 08:56

The amendments vide Insolvency and Bankruptcy Code (Amendment) Bill 2022 to the Insolvency and Bankruptcy Code (IBC), which came into force in 2016 for timely resolution of stressed assets, are expected to be introduced in the Budget session of Parliament early next year.

FIRMS Portal: Recent changes and practical difficulties

CS Anupriya Saxena 07 January 2023 at 08:56

In the year 2018, the Reserve Bank of India changed the paradigm by shifting most of its filings to web-based forms which were earlier done in physical form/by submitting hard copies of the forms and supporting documents. These portals were FIRMS and FLAIR.