Non-compliance can lead to Penalties, legal consequences, and financial losses.
Archives: FAQs
Who regulates FEMA in India?
The Reserve Bank of India, along with the government of India, regulates FEMA.
Why is choosing the right business structure important?
It affects taxation, compliance, liabilities and future growth.
Which entity/business structure is best in India?
It depends on factors like size, tax implications and compliance requirements.
Who should choose Corporate Services Advisory?
Startups, SMEs (small & medium enterprises), large corporations and foreign investors entering India can opt for the corporate services advisor
Why do businesses need corporate services advisory?
For ensuring compliance, reducing risks, improving efficiency and enabling strategic and well-informed decision-making.
To claim a deceased person’s bank account or fixed deposits, is a succession certificate mandatory?
A succession certificate is not mandatory; it is a statutory safeguard. Financial institutions require it when a person dies intestate or without a legal nominee.
What does a succession certificate establish – ownership or inheritance rights over the deceased’s assets?
No. A succession certificate does not confer ownership or determine inheritance rights. It merely authorises the holder to collect specified debts and securities of the deceased.
Can a succession certificate be issued if the deceased has left a will?
Ordinarily, no. Where a valid will exists, and probate or letters of administration are required under law, a succession certificate cannot be granted.