Question
According to RBI's KYC Directions, if KYC/AML standards
differ between RBI and a host country regulator for foreign branches of Indian banks, which standard should be followed?Solution
RBI mandates that foreign branches or subsidiaries of Indian banks must adhere to the more stringent AML/KYC standards between RBI’s guidelines and the host country’s regulations. This ensures robust compliance and mitigates the risk of money laundering across different jurisdictions.
In the Cash Flow Statement, payment of taxes is classified under which activity?
Government increases spending on infrastructure and public sector employment. How does this affect GDP and inflation in the short run according to Keyne...
An asset is purchased for Rs. 10,000, on which depreciation is to be provided annually according to the straight-line method. The life of the asset is 4...
What is the rate of Tax Deduction at Source for a foreign company getting dividend from units of mutual fund for the assessment year 2021-22?
If the PV ratio us 80% and MOS is 20000. Calculate FC if SP per unit is 5 and Contribution is 40000. Â
Debt financing is sometimes preferred by the corporate due to the fact that:
Which among the following ratios will be affected because of salaries paid in cash as advance salary?
What is the limit of Gratuity not taxable?
As an auditor you came across a situation where related party transactions have taken place. Which AS deals with it?
XYZ Ltd. buys software for ₹10 lakh, with a license period of 3 years. How should it treat this in books?
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