result in a downward revision in the income chargeable to tax in India. Documentation requirements Taxpayers are required to maintain, on an annual basis, a set of extensive information and documents relating to international transactions undertaken with AEs or specified domestic transactions.
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A: A statutory requirement is a requirement written into a law passed by a legislative body, while regulatory requirements are those requirements made by a government agency in accordance with the law, according to the Maryland Office of the Secretary of State. A legislature gives agencies the right to make regulations. Continue Reading.
The Constitution vests the executive powers of the Union of India in the President of India. The President, by his order, and issuance of allocation rules of the Government of India, [2] vested the financial powers of the Indian Government in the Ministry of Finance.
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Jan 28, 2016· The features of statutory corporation are as follows:. (1) Management: Statutory corporations are managed by the Board of Directors, appointed by the government. (2) Accountability: Statutory corporation is accountable to public parliament. Hence it is account and audited by the Comptroller Auditor General of India (CAG).
The employer takes the worker's compensation insurance to cover the risk of the employment injury of its employee who is considered as workmen as per the Workmen Compensation Act. The employers with more than 20 workers are compulsorily needed to get them .
Sep 13, 2008· Dear sir's, what are the statutory and regulatory requirements for vendors/supplier 1 year ago Reply Are you sure you want to ... Statutory compliances for companies in India 1. By Anand Prakash Jangid ACA,DISA,CISA,CISM,ACP ...
Oct 12, 2017· Statutory Audit of Companies A company is required to prepare financial statement for period ending 31st March every year. Such financial statement must be give a true and fair view of the state of affairs of the company and comply with the accounting standards notified by the central government under Section 133 of the Companies Act.
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A statutory corporation is a corporation created by the state. Their precise nature varies by jurisdiction, thus, they might be ordinary companies/corporations owned by a government with or without other shareholders, or they might be a body without shareholders that is controlled by national or subnational government to the (in some cases minimal) extent provided for in the creating legislation.
All of them might not be applicable to all the Hospitals: Building Permit (from the Municipality).
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Jul 25, 2017· The Statutory Compliances Required For Indian Payroll. The common Statutory requirements that companies have to follow for their payroll management in India are: Statutory Requirements For Minimum Wages. This act provides for fixing minimum rates of wages for skilled and unskilled laborers.
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To recap, statutory illegality in contract law means, no terms of a contract can be in violation of statutory law. The four examples we learned are usury, gambling contracts, licensing, and Sunday ...