NEWS & BLOGS EXCLUCIVELY FOR INFORMATION TO ENGINEERS & VALUERS COMMUNITY
Saturday Brain Storming Thought (232) 20/07/2024 SNRR ACCOUNT SNRR Account Special Non-resident Ruppe Account Any person resident outside India, having a business interest in India, can open a Special Non-resident Ruppe Account (SNRR) with an authorised dealer for the purpose of putting through bonafide transactions in rupees which are in conformity with the provisions of […]
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Saturday Brain Storming Thought (231) 13/07/2024 NRO ACCOUNT NRO Account A Non-Resident Ordinary (NRO) Account is a popular way for many Non-Resident Indians (NRIs) to manage their deposits or income earned in India, such as dividends, pension, rent etc This account allows you to receive funds in either Indian or foreign currency NRO Account 1)
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Saturday Brain Storming Thought (230) 06/07/2024 NRE ACCOUNT NRE Account NRE means Non-Resident (External) Account Which allows only foreign credits from outside India into the account Key Takeaways of NRE Account 1) Acronym Non Resident External Account 2) Meaning It is an account of an NRI to transfer foreign earnings to India 3) Taxability Interest
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Saturday Brain Storming Thought (229) 29/06/2024 CASH RESERVE RATIO Cash Reserve Ratio (CRR) Cash Reserve Ratio is one of the many monetary policy tools that RBI uses to control the money supply in the economy Cash Reserve Ratio is a certain percentage of cash that all banks have to keep with the RBI as a
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Saturday Brain Storming Thought (228) 22/06/2024 SHELL COMPANIES SHELL COMPANIES Shell Companies are used for legitimate purposes but can be used for tax evasion, tax avoidance, money laundering, or to achieve a specific goal such as anonymity Shell Companies in India Shell Companies are also known as ghost companies, are quite popular among fraudsters, especially
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Saturday Brain Storming Thought (227) 15/06/2024 PARTICIPATORY NOTE PARTICIPATORY NOTES Participatory Notes also referred to as P-notes or PNs, are financial instruments required by investors or hedge to invest in Indian securities without having to register with the Securities and Exchange Board of India (SEBI) P-notes are among the group of investments considered to be
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Saturday Brain Storming Thought (226) 08/06/2024 DIGITAL INCLUSION Digital Inclusion Digital Inclusion is defined as – equitable, meaningful and safe access to use, lead and design of digital technologies, services and associated opportunities for everyone, everywhere Elements of Digital Inclusion 1) Affordable, robust broadband internet services 2) Internet-enabled devices that meet the needs of the
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Saturday Brain Storming Thought (225) 01/06/2024 HUNDI Hundi A Hundi or Hundee is a financial instrument that was developed in Medieval India for use in trade and credit transactions Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow
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Saturday Brain Storming Thought (224) 25/05/2024 SMURFING Smurfing Smurfing is a money laundering technique that involves the structuring of large amounts of cash into multiple small transactions This is done in order to conceal the source of money Smurf A Smurf is a money launderer who seeks to evade scrutiny from government agencies by breaking
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Saturday Brain Storming Thought (223) 18/05/2024 HAWALA Hawala Hawala is an informal method of transferring money without any physical money actually moving It is described as a money transfer without money movement Hawala is used today as an alternative remittance channel that exists outside of traditional banking systems Key Takeaways of Hawala 1) Hawala is
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Saturday Brain Storming Thought (222) 11/05/2024 BLACK MONEY Black Money Black Money means all funds earned through illegal activity and legal income that is not recorded for tax purposes Black money proceeds are usually received in cash from underground economic activity and, as such, are not taxed Key Takeaways of Black Money 1) Black Money
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Saturday Brain Storming Thought (221) 04/05/2024 SALVAGE VALUE Salvage Value Salvage Value is the amount that an asset is estimated to be worth at the end of its useful life It is also known as scrap value or residual value, and is used when determining the annual depreciation expense of an asset Zero Salvage Value
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