• Importance of Staying HIPAA and HITECH Compliant
  An integral aspect of IT security is managing the regulatory compliance needs efficiently. Security compliance programs today, like GLBA (Gramm-Leach Bliley Act), HIPAA (Health Insurance Portability and Accountability Act) and the Sarbanes-Oxley are becoming dynamic.
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• India – New Rule Allows Use of ‘Other Method’ for Determining Arm’s Length Principle
  The Indian Tax Administration has introduced a new transfer pricing method which uses the ‘other method’ for determining Arm’s length Principle (ALP) for international transactions.
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• India Clarifies Trademark Rules for Pharmaceuticals
  The Indian government has released a list of international non-proprietary names (INN) as recognized by the World health Organization, which cannot be registered as trade marks for pharmaceutical products.
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• India Enacts Further Sections of the Companies Act, 2013
  With reference to the effectiveness of India?s new Companies Act, 2013, the Ministry of Corporate Affairs (MCA) has further notified 183 sections and schedules. The newly notified sections have come into effect 1 April 2014.
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• India Introduces Changes to EEFC Account Norms
  The Indian Government has introduced changes to the Exchange Earners' Foreign Currency Account (EEFC) norms. As part of the revision, exporters or individual professionals who have an EEFC account will now have to convert 50 percent of their balances into rupee balances, and they will also be given permission to purchase foreign exchange by accessing the forex market only after extinguishing their existing EEFC account balances.
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• India Introduces Electronic Signatures for Online Filing of Tax Returns
  The Income Tax Department of India has decided to modify the e-filing tax system to include electronic signatures.
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• India issues a Tax Notice to Microsoft for Transfer Pricing Payment: Update from International Tax Compliance Services Team
  The Indian income tax (IT) department served a demand notice to Microsoft on valuation of transactions with the parent Microsoft Corporation based in the US. The IT officials have raised concern over profits appropriated to the research and development centres in India by the US based parent Microsoft Corporation.
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• India Issues New Requirements for Permanent Account Numbers (PAN)
  The new measures aim to reduce the number of fake PAN cards or multiple PAN cards obtained by companies and individuals, verify personal and proprietary data, stop forging details to evade taxes, reports Nair & Co.’s International Compliance Team
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• India Provides Details on Mandatory Tax Reporting Requirements for Liaison Offices
  India’s Central Board of Direct Taxes (CBDT) in a recent notification has provided detailed information that foreign companies with representative or liaison offices must provide to tax authorities in accordance to a 2011 tax law amendment.
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• India Releases Final Version of MCA XBRL Validation Tool
  Indian Ministry of Corporate Affairs has released the final version of MCA XBRL Validation Tool. Effective since October 14th, 2012, XBRL filings of financial statements have been enabled on Ministry of Corporate Affairs website for accounting years beginning on or after April 1st, 2011.
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• India Revises Tolerance Band for Transfer Pricing: Updates from International Tax Consulting Team
  The Indian government in a recently issued notification has modified the “tolerance band” for the Assessment Year 2013-14 which will ascertain arm’s length pricing for international payments between related parties.
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• India- FIPB clears 8 FDI Proposals worth Rs 1311 crore: Update from International Tax Compliance Services Team
  The government announced its approval for eight foreign direct investment (FDI) proposals worth around Rs 1,311.54 crore based on the suggestion of the Foreign Investment Promotion Board (FIPB) in its meeting held on June 14.
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• India: Documentation for Foreign Exchange Remittance Eased
  With an aim to liberalize documentation requirements, the Reserve Bank of India (RBI) has raised the limit for foreign exchange remittance for miscellaneous purpose without documentation process to US$25000 from US$5000.
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• Indian Court Allows Company to Shift Service Tax Liability
  In a milestone verdict, the apex court of India held that an assessee of service tax may enter into a contract with another party to shift liability. This case involved Rashtriya Ispat Nigam Ltd and M/S Dewan Chand Ram Saran where the Supreme Court read out the verdict in favour of the former.
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• Indian Government Enacts New Company Law
  On August 29, 2013, the government of India has enacted a new company law which is likely to take effect in early 2014. The historic company law replaces the old Companies Act, 1956, that governed companies in India for nearly 60 years, says Nair & Co.’s International Expansion Team.
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• Insights as you Broach Breach Prevention in 2014
  Breach prevention is a crucial goal for every healthcare entity. While you want to avoid the pain caused to your organization in the event of a breach, you also want to protect the interest of your patients and health plan members.
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• Integrated and Automated Security and Compliance
  SecureGRC Enterprise from eGestalt is a completely integrated & automated IT security & compliance management solution that provides an innovative, unified monitoring service delivered from the cloud. It enables highly-automated, scalable, cost-effective, enterprise-wide compliance management with pre & post-audit compliance support.
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• Integrated IT Compliance Solutions
  To curtail IT security threats, eGestalt's SecureGRC, an integrated IT compliance solution offers end-to-end integration security monitoring that allows users to access information without exposing the organization to security threats, data loss & compliance risks.
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• Intelligent Vendor Management Programs – Vital to Ward off Breaches
  No organization can afford to take the risk of inadequate data protection, particularly when it is business associates dealing with sensitive patient information.
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• Internal Threats Are No Myth – Jamaica Hospital Stands Testimony
  You may often assume that threats to electronic health records are always from outsiders. But the fact is that internal threats are equally prevalent and pose much more danger to an entity’s data. An incident at Queens, New York based Jamaica Hospital is proof to this fact.
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