RSM India

Consulting insights

Newsflash - Significant Amendments to Finance Bill 2020 passed by Lok Sabha - March 2020

27 March 2020
The Finance Bill 2020 has been passed by the Lok Sabha on 23 March 2020 and also duly returned by the Rajya Sabha. There were significant changes made to the original Finance Bill 2020 which was introduced in the Lok Sabha on 1 February 2020.

Newsflash on Statutory and Regulatory Compliances -Relief Measures on account of COVID-19

27 March 2020
The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors.

IT department may ask NRIs to explain 'bloated' income

26 March 2020
IT department may ask NRIs to explain 'bloated' income   Read RSM India views on how IT department might ask for ‘bloated’ income, Click here to  readmore...

The New and Old Income Tax Regimes for India's taxpayers

26 March 2020
The New and Old Income Tax Regimes for India's taxpayers   Outlook Money’s Cover Story explores the New and Old Income Tax Regimes for India’s Taxpayers. Read more for views by Dr. Suresh Surana, Founder, RSM India.

The best ways to avail a personal loan despite having a low credit score

26 March 2020
The best ways to avail a personal loan despite having a low credit score In Outlook Money magazine, February 2020 issue, Dr. Suresh Surana, Founder, RSM India, summarises some of the best ways to avail a personal loan despite having a low credit score.

Have outstanding tax payable? Opportunity to save interest, penalty till March end

20 March 2020
Have outstanding tax payable? Opportunity to save interest, penalty till March end Dr. Suresh Surana, Founder, RSM India, discusses ‘ The Direct Tax Vivad Se Vishwas Bill, 2020’, and more, in Financial Express.

THE CFO’s Tax Checklist – Budget Proposals 2020

20 March 2020
THE CFO’s Tax Checklist – Budget Proposals 2020 Exclusive on, Dr. Suresh Surana, Founder, RSM India discusses the significant measures taken in the Union Budget 2020, and the recent corporate tax overhaul, that need careful consideration by CFO’s

Queries NRIs have before they buy Indian property

20 March 2020
Queries NRIs have before they buy Indian property Common queries of NRI homebuyers answered on by Dr. Suresh Surana, Founder, RSM India Click here to readmore..

What Budget 2020 has for you?

20 March 2020
What Budget 2020 has for you?   Business Today’s Cover Story discusses the most important proposals that will have an effect on your personal finance. Click here to read more..

How to save tax without fresh investments in FY 2019-20

17 March 2020
How to save tax without fresh investments in FY 2019-20 In this exclusive article on Dr. Suresh Surana, Founder, RSM India explains how a taxpayer can save tax without fresh investments in FY 2019-20


12 March 2020
SOP to be followed by Exporters Standard Operating Procedures (SOP) for exporters are designed to mitigate fraudulent cases of availing refund of Integrated Goods and Services Tax (IGST) paid through  ineligible  Input Tax Credit (ITC) which are  claimed on the basis of fake invoices.

White Paper: Optimizing Supply Chain Cost - Export and Import Logistics

30 January 2020
We are pleased to release our White Paper on "Optimising Supply Chain Cost- Export and Import Logistics" for your reference.

Lok Sabha passes the Companies (Amendment) Bill, 2019

15 December 2019
The Lok Sabha has passed the Companies Amendment Bill,2019 on 25 July,2019. While the Amendment Bill has 44 sections in all, 32 sections of the same are already in force with effect from 2 November,2018, by way of an Ordinance promulgated earlier.

Union Cabinet approves the Proposal to Amend the Insolvency and Bankruptcy Code

15 December 2019
The Union Cabinet has on 17th July, 2019, approved the proposal to introduce a Bill in the Parliament to carry out 8 amendments to the Insolvency and Bankruptcy Code, 2016 (‘IBC’).

Key Highlights of Rajasthan State Budget 2019-20

15 December 2019
Highlights of Additional Budget of Rajasthan State presented by Finance Minister, Shri. Ashok Gehlot on 10 July 2019. Some of the main highlights are as under :- Commercial Taxes: To give relief to dealers in pending demands, following new provisions are added through amendments in Rajasthan GST Act:

Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019

15 December 2019
As a move towards expeditious disposal of cases under erstwhile indirect tax laws, a dispute resolution cum amnesty scheme called “Sabka Vishwas Legacy Dispute Resolution Scheme, 2019” has been introduced. The proposed Scheme shall cover past disputes of taxes which have got subsumed in GST namely Central Excise, Service Tax and Cesses etc.

Maharashtra Budget June 2019

15 December 2019
We are pleased to release the highlights of Additional Budget of  Maharashtra State presented by Finance Minister, Shri. Sudhir  Mungantiwar on 18 June 2019.  Main Highlights are as under :- 1.     Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Ordinance, 2019    

Internal Audit – The Changing Landscape

7 February 2019
Internal Audit function plays a very crucial role in an organisation’s corporate governance framework, internal processes and controls, risk management, regulatory compliance, financial reporting and overall assisting the board of directors (BOD) and senior management help fulfil their responsibilities towards the organisation and its stakeholders.

Pharma and Lifesciences Industry – Certain Tax, Regulatory and Governance Aspects

7 February 2019
The pharmaceutical industry in India ranks 3rd in the world in terms of volume and 14th in terms of value according to Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers. Indian drugs are exported to more than 200 countries in the world, with the U.S. as the key market.

RSM India White Paper - Risk Management in E-Wallet Companies

29 January 2019
“In today’s digital world, money is being substituted by its digital form and stored in Electronic Wallets or E-Wallets. In India, the concept of E-wallets saw a significant surge owing to demonetisation which took place in 2016.

RSM India White Paper - Optimising Supply Chain Cost - Road Transportation

9 January 2019
We are pleased to release our White Paper 'Optimising Supply Chain Cost- Road Transportation.'

Ind AS Application, MAT and Next Wave of Changes

12 June 2018
Most of the Indian corporates are in the process of transitioning to Ind AS, during the financial years ending 31 March 2016-2018 in phase, thus aligning the financial reporting framework in India with the globally followed financial reporting standards making it easier for Indian companies to access global investors and lenders as well as facilitate mergers and ac

OVERHAULING THE COMPANIES ACT Incorporating Key Changes - Companies Amendment Act, 2017

26 April 2018
The Companies Act, 2013 has substituted the Companies Act, 1956 with most provisions becoming effective as on 1 April 2014.

Newsflash: Ind AS 115: Revenue from Contracts with Customers - Overview and Impact on Key Sectors

26 April 2018
On 29 March 2018, the Ministry of Corporate Affairs (MCA) notified Ind AS 115, Revenue from Contracts with Customers applicable for companies following Indian Accounting Standards (Ind AS). Ind AS 115 is based on IFRS 15, under IFRS and ASC 606, under US GAAP.

Newsflash - Restriction on number of layers of subsidiaries for certain classes of holding companies

4 October 2017
Section 2(87) of the Companies Act, 2013 (Act) defines a subsidiary company as under: Subsidiary company or subsidiary, in relation to any other company (that is to say the holding company), means a company in which the holding company- i. controls the composition of the Board of Directors; or

Newsflash - Companies Amendment Bill 2017

11 August 2017
The Companies (Amendment) Bill, 2016, (Old Bill) was introduced in Lok Sabha on 16 March, 2016. It was then referred to the Standing Committee on Finance on 12 April 2016.

Ind AS - Application, Analysis & MAT Financial Year ended 31 March 2017

2 August 2017
Traditionally and for several decades, Indian companies have been following Indian Accounting Standards which were not in full alignment with the global financial reporting standards.

Newsflash - Introduction of Legal Identity Identifier Number for OTC Derivatives Market Participants - RSM India Newsflash

20 July 2017
The Reserve Bank of India had issued a Notification dated 1st of June 2017 “Introduction of Legal Entity Identifiers for OTC derivative markets” (RBI/2016-17/314 FMRD.FMID No.14/11.01.007/2016-17)” which requires creation of LEI (Legal Entity Identifier) number for participating into OTC Derivative market for all entities.

Tally Solutions partners with RSM India for GST Ready ERP Software

10 July 2017
Nation's biggest accounting software partners with one of India's top accounting firms for GST Ready ERP Solutions  (news article)

Petya/Petwrap Ransomware Attack - Newsflash

28 June 2017
Newsflash: ‘Petya/Petwrap’ Ransomware Attack

Highlights of 17th GST Council Meeting & Notifications issued under GST

21 June 2017

Newsflash - Changes in Import Export Code with the introduction of GST

15 June 2017  

Newsflash - Service Tax Liability Shifted on Importer in case of Ocean Freight

14 June 2017  

Newsflash - Ongoing Cyber Attack 'WannaCry Ransomware' & Steps to Prevent

15 May 2017
In the newsflash we would like to mention certain steps to prevent such attacks in your organization. The malicious software behind the major cyber attack is known as ‘WannaCry’. Following are the synopsis of what you need to know about 'WannaCry', the malicious software behind the ongoing worldwide hacking attack  

Newsflash - Changes to Accounting Standards under Indian GAAP - Effective FY 2016-17 onwards

20 January 2017
The MCA vide notification dated 30 March 2016 issued the Companies (Accounting Standards) Amendment Rules, 2016 , amending the Companies (Accounting Standards) Rules, 2006 for companies following Indian GAAP accounting standards. These changes are relevant for companies that will prepare financial statements for FY 2016-17 under Indian GAAP.

Limited Liability Partnerships in India - The NewAge Business Vehicle

29 August 2016
The dynamic business environment we live in today calls for constant change and upgradation. In order to remain relevant, there is need for a business structure that appeals to business and service sectors alike with lesser restrictions and government intervention.

White Paper - Income Computation and Disclosure Standards (‘ICDS’)

4 April 2016
The Central Government has notified 10 income computation and disclosure standards vide Notification No. 32/2015 dated 31 March 2015. The notified tax standards are likely to create a substantial impact in the approach and methodology of computing and offering the income to Income-tax.

Companies Act 2013 – Summary Note on Borrowings by Private Companies

9 February 2016
The objective of this summary note is to give an indicative list of persons / entities whom a private limited company generally approaches to raise funds by way of borrowings and the terms and restrictions on making such borrowings as prescribed under the Companies Act, 2013.

Newsflash – Section 135 of the Companies Act, 2013 - FAQs on Corporate Social Responsibility

1 February 2016
Section 135 of the Companies Act, 2013, Schedule VII of the Act and Companies CSR Policy Rules, 2014 read with General Circular dated 18 June 2014    issued by the Ministry of Corporate Affairs (MCA), provide the broad contour within which eligible Companies are required to formulate their CSR policies  including activities to be undertaken and implement the same i

Newsflash – Startup Revolution in India

28 January 2016
Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design.

NF-Employees PF and Miscellaneous Prov. Act,-Removal of grace period of 5 days for payment of contribution by employers

18 January 2016
Vide its Circular dated 8 January 2016 EPF Authorities have removed the grace period of 5 (five) days for payment of PF contribution by Employers. Hence, the employer is now required to pay the contribution within 15 days of close of every month without any grace period.   

Newsflash - Significant Changes effected under the Payment of Bonus (Amendment) Act, 2015

6 January 2016
The Government of India has notified the Payment of Bonus (Amendment) Act,2015 on 31 December,2015, which provides for the annual payment of bonus to employees of factories with 10 or more persons and  establishments employing 20 or more persons and such other establishments that may be notified by the appropriate government.

Network security in the digital age

3 November 2015
Need for Network Security / IT Security and IT Systems Audit:  Majority of the businesses have invested heavily in IT. The purchase of IT or network equipment continues to be the largest category of industry spending for all types of capital equipment. Almost all IT applications are dependent on network for variety of basic business activities.

How can we help you?

Contact us by phone +91 22 6108 5555 or submit your questions, comments, or proposal requests.

Email us