India: Audit

The Securities Exchange Board of India ("SEBI") by Circular No. SEBI/HO/MRD/TPD/CIR/P/2025/50 dated 04.04.2025 ("Circular") has prescribed the standardized format for System and Network audit report of Market Infrastructure Institutions ("MIIs").

The GIFT International Financial Services Centre ("GIFT IFSC"), established in Gandhinagar, Gujarat, is India's first international financial services centre with the intent of catering to global MNCs...

The Securities and Exchange Board of India ("SEBI") vide circular dated February 14, 2025 ("Circular") inter alia introduced some amendments to certain parts of the Master Circular for compliance...

Discover critical accounting considerations for fintech companies to ensure compliance with complex and evolving accounting and regulatory requirements.

Employee Stock Option Plans (ESOPs) are a popular way to reward and incentivize employees in India, especially among startups. Valuing ESOPs from an accounting perspective is a critical task, as it involves determining the fair value of options granted to employees and accounting for them in the company's financials.

Karnataka is home to 875+ Global Capability Centres (GCC) units, having the largest share of India's GCC talent and accounting for 35% of the GCC's workforce in India.

Legislation should be amended, if necessary, to ensure MNEs do not face undue hardship.

The threshold level of income exempt from tax is proposed to be raised from Rs: 50,000 to Rs: 1,00,000. The threshold level for women who have not attained the age of 65 is proposed at Rs: 1,25,000. This replaces the rebate allowable to women u/s 88 – C which now stands eliminated. The threshold level for senior citizens is proposed at Rs: 1,50,000. This replaces the rebate allowable to senior citizens u/s 88 – B which now stands eliminated

Novelty is one of the basic criteria of patentability, inventiveness and industrial applicability being the other two. If the use of a substance or a composition for a specified medical purpose is new, a claim in a patent application directed at this use will be considered as novel even if the same substance had previously been used in medicine for a different purpose.