Valuation Report
Valuation Report A Valuation Certificate is an essential document that determines the value of a company or an asset. It is provided by a certified valuer after performing a detailed…
Long-Term Capital Gains(LTCG): Tax Rates, How to Calculate, Exemptions and Examples
Long-Term Capital Gains(LTCG): Tax Rates, How to Calculate, Exemptions and Examples Profits or gains resulting from the sale or transfer of capital assets, including property, shares, bonds, and vehicles, are…
Cancellation of registration under GST
You can cancel your GST registration if your business is no longer subject to GST rules, you are closing down your business, or if a tax officer initiates the cancellation.…
Leave Encashment – Tax Exemption, Calculation & Formula With Example, Rules
Leave Encashment - Tax Exemption, Calculation & Formula With Example, RulesHave you heard of the term ‘leave encashment’?Leave encashment is a familiar concept among salaried individuals, allowing employees to convert…
Introduction to Transfer Pricing in India
Introduction To Transfer Pricing In IndiaTransfer pricing regulations in India encompass both domestic and international transactions that surpass a specified threshold in terms of transaction value. The provisions for transfer…
Transfer Pricing – Objectives and Approaches
Explore transfer pricing in India, key methods (CUP, TNMM, RPM), and compliance with tax rules. Learn how to reduce risk and stay audit-ready.Transfer pricing refers to the pricing of goods,…
Books of account to be maintained by the trusts or institutions
Rationalisation of the provision of Charitable Trust and Institutions The income earned by funds, institutions, trusts, universities, educational institutions, hospitals, or medical institutions falling under sub-clause (iv), sub-clause (v), sub-clause (vi),…
Tax Liability of a NRI
Tax Liability Of A NRIIn India, an individual's tax responsibility depends on their residential status, categorized into three types according to the Income Tax Act 1961: Resident (ROR) Resident but Not Ordinarily…
Everything about SFT
Section 285BA of the Income Tax Act, 1961, governs the requirement for specified persons, assesses, prescribed officers, and authorities to furnish Statement of Financial Transactions (SFT).The concept of SFT was…
Documents to be maintained by NGo or trust
The Central Board of Direct Taxes introduced Rule 17AA through Income Tax Notification No. 94/2022 dated August 10, 2022. This rule outlines the specific books of account and other necessary…
CBDT notifies books & other documents to be maintained
CBDT notifies books & other documents to be maintainedAccording to the Income-tax Act, regular taxpayers must uphold and audit their books of accounts. Section 44AA outlines the necessity to maintain…
Checklist for Incorporation of Foreign Subsidiary/WOS in India
Checklist For Incorporation Of Foreign Subsidiary/WOS In IndiaThe following information is necessary for the incorporation of WOS (Wholly Owned Subsidiary).Authorized Share CapitalPaid-up CapitalPer share value (Face value)Number of ShareholdersRegistered Office…
TDS Deduction on rental property owned by NRI
Indian citizens should deduct tax on the rent they pay to their landlords in specific circumstances, deposit to the PAN, and give a form to the property manager stating the…
Section 50 – Capital Gain on sale of depreciable assets
The income derived from selling a capital asset included in the block of assets on which depreciation has been permitted according to the Income Tax Act constitutes a capital gain.The…