Demystifying Tax Audits: Exploring Section 44AB of the Income Tax Act
Introduction Tax audit is a crucial aspect of the Indian income tax system, governed by Section 44AB of the Income Tax Act, 1961. It is a...
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- Nov 2
- 3 min
ANNUAL PERFORMANCE REPORT for foreign entities
Introduction The Foreign Exchange Management Act (FEMA) is the critical piece of legislation in India, regulating foreign exchange...
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- Oct 10
- 3 min
Who can apply for Lower deduction certificate?
In order to overcome tax evasion measures adopted by taxpayers, Indian Income Tax laws provide for deduction of tax on income of any...
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- Sep 25
- 2 min
Section 194R: Tax Deductible on Perquisite or Benefit in Business
Introduction TDS（Tax Deducted at Source） under section 194R was introduced in the Union Budget 2022, and it was made effective from 1st...
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- Sep 13
- 2 min
LLP (Limited Liability Partnership) Audit
Introduction As an LLP is a separate legal entity therefore it shall be under obligation to maintain annual accounts presenting true and...
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- Sep 5
- 3 min
How Payroll Services Can Help Your US Company Expand into Global Markets?
Are you looking to expand your company into the global market but unsure of how to navigate it? In this article, we’ll discuss how...
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- Jul 11
- 4 min
Amendments between Finance Bill and Finance Act 2023
Introduction The Lok Sabha has passed the Finance Bill 2023 with over 60 amendments by making changes to the bill which was initially...
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- Jun 27
- 3 min
Faceless Schemes and E-Proceedings
Introduction: The government has taken steps in transforming its judicial system by going completely faceless and using e-proceedings....
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- Jun 15
- 2 min
Compensation received in case of voluntary retirement or separation – Section 10(10C)
Introduction Where Compensation is received at the time of voluntary retirement or in case of separation, the income received as...
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- Aug 8, 2022
- 2 min
How ESOPs are taxed in India
ESOP refers to an option given to employees of a company to purchase shares of the company, in return of his dedicated services to the...
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- Jun 21, 2022
- 3 min
Foreign Tax Credit rules in India
The foreign tax credit is a non-returnable tax credit for a foreign government’s income taxes due to foreign income tax withholdings. The...
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- Jun 13, 2022
- 2 min
Equalization Levy Scheme in India
Equalization levy was introduced in India has substantially extended the scope of equalization levy, intending to tax the digital...
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- Apr 19, 2022
- 2 min
GST Registration for NRI
GST(Goods and Services Tax)replaces indirect taxes such as VAT, excise duty, and services tax. It is a levy on the supply of goods and...
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- Apr 13, 2022
- 3 min
Tax implications / Benefits under India & US tax treaty
India and the United States of America signed a Double tax avoidance agreement (DTAA). It was signed to enable taxpayers (NRI’s) to get...
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- Jan 4, 2022
- 5 min
Tax treatment for cash transactions
It is a well-known truth that people tend to find ways to evade tax, which leads to the collection of illegal income. Government has to...
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- Dec 15, 2021
- 3 min
Foreign Tax Credit rules in India
The foreign tax credit is a non-returnable tax credit for a foreign government’s income taxes due to foreign income tax withholdings. The...
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- Nov 9, 2021
- 3 min
Tax-Free Bonds in India
Tax-free bonds are the financial instruments issued by the Government to collect the money to arrange to fund for the long term projects...
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- Oct 26, 2021
- 15 min
Contrary to advance rulings issued under GST law
Goods and Service Tax(“GST”) was introduced in India i.e. July 1, 2017. Before GST, there were many different indirect taxes levied and...
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- Oct 15, 2021
- 4 min
Taxation on gifts in India
Giving gifts are a way of showing love and appreciation. However, when the financial worth of the gift is significant, it attracts tax...
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- Oct 13, 2021
- 4 min
Tax Incentives to Startups in India
A startup is determined as a young company, generally small, coined by one or more entrepreneurs to evolve a unique product or service,...
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