Making payments overseas, or outside India, mandates individuals to fulfill certain documentation, legalities, and guidelines.
Remittances to Non-Resident Indians staying in UAE are sanctioned by banks only if the person making the remittance provides an undertaking along with certificates, namely Forms 15CA and Forms 15CB. In simple terms, any NRI staying in UAE in need of funds/money transfer, or remitting funds from India to abroad, is mandatorily required to submit duly filled Form 15 CA and 15CB. The purpose of the two documents is to ensure that taxes have been paid on the funds involved before overseas remittance is carried. In case, the funds are remitted abroad without the due taxes are being paid, Individual will get notice from Income Tax Department. The two legal documents offer similar information, with the major difference that Form 15 CA is a declaration by the NRI wanting to remit funds, while Form 15CB is a Chartered Accountant’s certification of the same. Here’s a look at the legal definitions of these forms: What is 15CA? 15CA Form is a declaration of the remitter (individual) which is given to the bank’s RM for completing the Transfer of Funds. What is Form 15CB? 15CB is a CA Certificate for individuals who want to repatriate funds/money from their NRO Account to NRE Account net of applicable taxes if any. Having defined what these 15 CA/CB forms are, it is crucial one realizes the importance of the two documents. Importance of Form 15CA and 15CB 15CA and 15CB are crucial CA documents required for the purpose of transferring funds or money from Non-Resident Ordinary Rupee (NRO) Account to Non-Resident Rupee (NRE) account. The Income Tax Department has made revisions in the preparation and submission rules for 15 CA/CB forms. Rules for issuing 15CA/15CB Certificate The 15CA/CB Forms are mandatory documents required for NRIs in need of fund transfer. Your appointed CA must cater to certain rules and regulations before he/she can issue the Certificates:
To get hold of your tax-related tasks for financial sustainability and legal compliances, seek professional assistance from a trusted partner. Alankit, with its 15+ years of experience in tax advisory services, specialized tax services for NRIs based in UAE, and other tax-related advanced services, offers seamless processes for 15CA/CB Certificates. It leads the industry by ensuring minimum turnaround time for issuing a 15CA/15CB Certificate. Some additional services offered by Alankit include the issue of UDIN number along with a 15CB Certificate. The company’s strong networking with a majority of Indian bank branches having representative offices in UAE, ensures hassle-free and secure servicing.
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The UAE regulations mandate businesses trading goods and providing services to register for taxation. Value Added Tax (VAT) registration is simply a tax registration for such businesses in the UAE.
However, not all businesses need to register for VAT. Businesses that exceed the annual aggregate turnover threshold, i.e. AED 3,75,000 and businesses that cross the total value of supplies in the next 30 days, must register for VAT. Get in touch with a VAT consultancy in Dubai to know if your company needs VAT registration. The businesses need VAT registration for showcasing themselves as Government-acknowledged entities. This further allows or authorizes them to collect VAT from their customers, which in turn is remitted to the Government. Why register the company for VAT? Apart from the basic functionality of VAT registration authorizing businesses to collect VAT, there are certain other tasks which can be performed by a VAT registered company: 1. Collect VAT for taxable supply of products and services 2. Paying VAT to the Government 3. Filing VAT returns periodically 4. Claim Input Tax Credit on VAT paid on the purchase Having understood why companies need to register for VAT, the main question that arises is how to register your company for VAT? It is advised that one should contact a VAT consultancy firm for accurate, quick, and secured VAT registration. The Federal Tax Authority (FTA) has an online portal for VAT registration. The FTA announces a deadline for registering businesses under VAT. It is important to understand how a company can be registered online for VAT. Furnishing true and factual information is essential, following the proper procedure for VAT registration and having a good understanding is needed for hassle-free and prompt VAT registration. An easy-to-follow online procedure for applying a VAT registration in the UAE is as follows:
We advise businesses to get their VAT registration process done by a trusted VAT consultancy firm in the industry for years. Alankit, as a preferred digital partner and an industry leader, has a diverse industry experience over the years for taxation and tax-related services in the UAE. Get hassle-free, failsafe and stepwise assistance for your company’s VAT registration from the best VAT consultancy in Dubai. Under the previous indirect tax regime, multiple registration numbers were required for the different sets of Service Tax, Excise Tax, VAT, etc. However, with the introduction of GST, people or businesses require only a single registration number. Businesses thus need a GSTIN for operations.
GSTIN, or GST identification number is a 15-digit unique alpha-numeric identification number which is allotted to every registered person under GST. However, an individual can have multiple GST numbers if he is an assessee under the Income Tax Act for different states/union territories he operates his business from. Persons or businesses which exceed a certain threshold limit are mandatorily required to register under GST. Precisely, businesses with turnover exceeding Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) are mandated to register as a normal taxable person. The process of such businesses getting registered for taxes is called GST registration. Tax authorities use the GST number for maintaining systematic records of GST dues and payments for people under the GST Act. In cases, where it is deemed by the law to get registered for GST, failure to do so is regarded as a legal offence. This calls for heavy penalties and fines. Who is required to register for GST number?
Alankit offers stepwise assistance for the easy and quick process of GST registration. Get GST number with hassle-free guidance from Alankit’s team of professionals. Using the latest technology and automation, Alankit also delivers online or digital GST registration service to its wide network of users. Liberal Arts and Sciences is a contemporary subject discourse gaining immense popularity in top institutions across the globe for its multidisciplinary approach.
As opposed to the common myth, liberal arts and sciences is a much broader academic stream going way beyond the convention of fine arts, performing arts and humanities-related subjects. Offering avenues for wider thought horizons, interdisciplinary academic options and creative ideologies, liberal arts universities serve as the perfect career-led option for curious minds. However, liberal arts and sciences is still considered a relatively new field with only a few leaders across the country. There are only a few renowned liberal arts colleges in India that offer niche liberal arts and sciences programmes. The ones that are currently offering multiple liberal arts and sciences courses are making a mark globally. Thapar Institute of Engineering and Technology being India’s leading educational institute takes a step forward in the industry by offering innovative programmes laying great focus on experiential learning going beyond the limits of classroom teaching. Here’s a list of the top 5 liberal arts universities you can count upon:
Days during the cycle are the hardest days for every woman, so they should be made as comfortable and enjoyable as possible. All women will agree with me that they do not love when those days come because everything is overblown. It is very important which Sanitary Pads we use. Now I will write you nine ways that will make Organic Sanitary Pads change and make your life easier:
There are plenty of offers online for Organic Sanitary Pads. I will make it easy for all women and point you to the right place- just click here. It is the site of a company that sells Sanitary Pads for women. All women on this site will find something for themselves and those days when they need relief. A woman's health and her beauty need to use organic products and that's exactly what you find here. This company is working to advance to green changes they hope will shape the future. A large number of gynecologists and medical experts in their laboratories test their organic products daily. What they were able to prove is that 95 % of women who had sensitive skin were cured using Organic Products such as Organyc Sanitary Pads. Company -Organyc- offers you Organic Sanitary Pads for regular menstrual flow days (Heavy Flow), Organic Sanitary Pads for heavy menstrual flow days (Moderate Flow), and Organic Sanitary Pads for heavy flows and post-maternity (Super). Each of these Organic Sanitary Pads consists of certified organic cotton - 82%, biodegradable biopolymer - 18%. It does not contain perfumes and artificial colors. Pack contains ten pieces. If you want something natural for your skin then choose organic, it will make life easier for any woman. The pads will provide complete comfort. Be happy and content with Organic Sanitary Pads. Ludhiana-based Mahavir Graphics has recently invested in a Xerox Iridesse digital printing press. The machine has been running on the company shopfloor since April 2019.According to Vishal Jain and Mayank Jain of Mahavir Graphics, as Iridesse is a next generation CMYK + printing machine, it gives the company the flexibility to do more for its clients. “This is in sync with our strategy for the next three years, wherein we are looking to venture into newer end customer application,” they said.
A Xerox loyalist, this is the fifth Xerox engine at Mahavir. “It was love at the first sight with Iridesse,” said Jain. “Iridesse has four + two single pass colour printing with option to print gold, silver, clear and white. Such technology is not available elsewhere, plus Xerox scores over competition with respect to after-sales service which is excellent to say the least.” With fully loaded CMYK + gold + silver, clear and white, the company will be able to print metallic effects, convert CMYK to metallic, and print with white, gold and silver. Currently, it is working on silver, gold and white-based applications. Jain said the company has already witnessed 20% plus increase in business since the installation of Xerox Iridesse. Established in 1998, Mahavir started with graphic designing and providing complete bar-code solutions, before venturing into commercial offset printing and packaging with integration of bar codes. Today, with 21 years of experience, Mahavir Graphics is one of the few printing companies that specialise in handling campaigns from start to finish. It has a state-of-the-art offset and digital print production facility, and UV printing solutions with specialists manning every stage of operations — creative, pre-press, digital printing, offset printing, binding, and fabrication solutions. The company majorly service the hosiery and garment industry with majority of end customer being corporate, local brands and printers. The average run length of jobs is 200 to 500. Mahavir has two units at Ludhiana which houses Xerox Iridesse, Xerox 4112, Konica Minolta Biz Hub 1051, Dominant five colour offset and Dominant single colour offset machines, lamination machines and so on. According to the Jains, today, competition is growing and margins are shrinking to an all-time low. It requires innovation in formats as well as investments towards a one –stop solution in digital printing. “The challenge is to provide CMYK plus printing solution to the customers. This will help us differentiate ourselves in an industry which is replete with oversupply of printers,” they said. “Customers are looking for something more than a normal print solution. Today’s customers are looking for value-addition from a printer and the challenge is to go beyond CMYK.” Post-Iridesse installation, they said, “The volumes have not increased to our targets, but yes, we have a received positive feedbacks and responses about print quality and versatility, have been able to add new clients that had getting work done on competition due to various factors. Primarily, work had been more around CMYK but now actively looking into new applications for which we are preparing ourselves,” they said. The company’s present turnover is approximately Rs 2 crore and the company is targeting 30% growth in the coming year. Read More: https://www.frontlist.in/techgadgets/ludhianas-mahavir-graphics-installs-xerox-iridesse/ 9/23/2019 0 Comments Words Literature FestivalAbout the EventWords Literature Festival - a festival that celebrates non-violence through various forms of art & literature is open for all and welcomes that you bring your intellectual differences, creative biases, and artistic reservations with you and know people who either think exactly like you, which would be fun, or people who have more to offer that can shape your views on things - well, who knows! Let your creative juices flow and dive in deep to find what works best for you - find your calling!
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