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The Employee State Insurance (ESI) is a social security and health insurance scheme for salaried Indian citizens and their dependants in contingencies, such as, sickness, maternity or death and disablement due to an employment injury or occupational disease. It is...
Background An unfavorable status of the United Arab Emirates (UAE) before the European Union (EU) Pro-active measures to address EU concerns around shifting of profits aimed at the following key factors: No or nominal taxes; Lack of transparency and exchange of...
OverviewIn the context of business companies, “economic substance” means that companies must have adequate presence and/or carry on economic activities in the jurisdiction in which they are tax resident. Numerous jurisdictions worldwide have now introduced broadly...
Governing Law, Taxation and Compliances
ITR processed or not The income tax return filed by an assesse needs to be verified by the assesse and the same should be then processed by the department. Income tax refunds are issued once the return is duly processed by CPC. Verification: The return filed by the...
Whether an employer is liable to pay wages for the period of lockdown due to COVID- 19?The Home Secretary, Ministry of Home Affairs, Government of India vide Order No. 40-3/2020-DM-I(A) 1 dated 29.03.2020, directed the State/ Union Territories Authorities to take...
What is a Force Majeure Clause?'Force Majeure' clause is a provision in a contract that exempts a party from performing his contractual obligations which have become impossible or impracticable due to an event or effect which the parties could not have foreseen or...
IntroductionThis document is the property of INMACS and contains confidential information that has been provided at your request. This information should not be disclosed in whole or in part without express written consent of the Company. This document should not be...