Form 27Q – NRI TDS Return
Form 27Q is a TDS return/statement that reports Tax Deducted at Source on payments (other than salary) made to Non-Resident Indians (NRIs) and foreign entities. This return must be filed…
Form ADT-1 for Appointment of Auditor: Due Date, Filing & Late Fees
Form ADT-1 for Appointment of Auditor: Due Date, Filing & Late Fees After the conclusion of the Annual General Meeting (AGM), every company is required to inform the Registrar of…
LLP Turnover Limits and Annual Tax Audit Requirements in India
LLP Turnover Limits and Annual Tax Audit Requirements in India Many LLPs are often unaware of the compliance obligations or turnover thresholds applicable to them, and that’s completely understandable. Our…
Freelancers & Taxes: How You Can Save Time and Money with the Presumptive Tax Scheme
Freelancers & Taxes: How You Can Save Time and Money with the Presumptive Tax Scheme India is the second fastest-growing freelancing market in the world. Over the last two years,…
Taxation and Other Aspects of Private Trusts – Overview | Strategic Considerations | Types
A Private Trust is a legal structure in which an individual or entity, called the settlor or trustor, transfers assets to a trustee. The trustee holds and manages these assets…
Section 133(6) of the Income Tax Act, 1961: Powers, Scope & Importance
India’s taxation framework is governed by the Income Tax Act, 1961, which empowers tax authorities to ensure proper compliance and prevent tax evasion. One such important provision is Section 133(6),…
Income Tax Notice u/s 142(1): Inquiry, Reply, and Penalty Provisions
An income tax notice is issued by the Income Tax Department for several reasons, such as failure to file returns, mismatches in return details, incomplete disclosures, underreported income, suspected tax…
CBDT Launches Second NUDGE Initiative to Enhance Voluntary Compliance on Foreign Assets
CBDT Launches Second NUDGE Initiative to Enhance Voluntary Compliance on Foreign Assets The Central Board of Direct Taxes (CBDT) has launched the second phase of its NUDGE initiative to promote…
Schedule FA – Disclosure of Foreign Assets in ITR
Schedule FA – Disclosure of Foreign Assets in ITR In a recent communication, the Income Tax Department has advised taxpayers to declare details of foreign assets and income earned abroad…
Disclosure of Foreign Assets in Income Tax Return: Penalty & Due Date
Disclosure of Foreign Assets in Income Tax Return: Penalty & Due Date The movement of black money through foreign tax havens has long been a major concern for the Income…
Income Tax department identifies cases of non-disclosure of foreign assets in ITRs
Income Tax department identifies cases of non-disclosure of foreign assets in ITRs The Income Tax Department has detected several cases involving the non-reporting of foreign assets in Income Tax Returns…
Net Worth Certificate (Wealth Report) by CA for All Purposes
Net Worth Certificate (Wealth Report) by CA for All Purposes A Net Worth Certificate is an official financial document prepared by a Chartered Accountant (CA) that confirms the overall net…
Net Worth Certificate for Visa
Net Worth Certificate for Visa Introduction to Net Worth Certificate for Visa A Net Worth Certificate for Visa is an important financial document required by many embassies to confirm that…
Property Sales by NRIs: Experts Explain Tax Rules and Life Without Indexation
Property Sales by NRIs: Experts Explain Tax Rules and Life Without Indexation The latest tax changes have resulted in higher tax liabilities and larger TDS deductions for NRIs selling property…