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 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…
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…
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…
Beneficent/strict trusts are the trusts which are shaped with a target of giving help to poor, instruction, clinical alleviation, safeguarding of climate/landmarks , headway of objects of overall population utility,…
Cash transactions (Cash sale limit) are not restricted by the CGST Act of 2017, but the Income Tax Act of 1961 periodically imposes restrictions on cash receipts, payments, and withdrawals…
Section 80GG Deduction on Rent paid Rents paid are subject to deductions: Under Segment 80GG, an Individual can guarantee allowance for the lease paid regardless of whether he get HRA. Under…
Hello Folks!! In this blog, we are going to discuss about the Short Payment & Short Deduction TDS defaults-Problems & Solutions. These days TDS has become a nightmare both for…
Harshita: A Character from Fiction Krishna, a lot of suppliers are not paying MSMEs on time, which is putting MSMEs under a lot of stress right now and putting them…
Hello Folks!!Today, we are going to discuss about the taxation of capital gain in India.What is Capital Gains Tax In India?Any profit earned from the sale of a 'capital asset'…
Searching for the statement of financial transactions & reportable accounts??Then, you’ve come to the right place!!We have discussed all things below.Basic Provisions (statement of financial transaction)Under Section 285BA of the…
Hello Folks!! Today, we are going to discuss about the applicability of Income tax to NRI. So, Let’s begin! In India, the amount of taxes an individual is liable to…
Indian investors have the option of investing in the US stock market. Tax implications for Indian investing in US stock market continue to be a major concern for Indian investors looking…
