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Received a Notice from the Income Tax Department for Foreign Income? Here’s...
Many Non-Resident Indians (NRIs) working abroad earn various types of income outside India, including salary income, capital gains, investment income, or other foreign income. Based on their...
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Retire Internationally, File Locally: Taxes on Foreign Retirement Funds
When individuals return to India after working abroad, one of the most important areas that requires attention is the taxation of foreign retirement accounts. Many returning professionals have...
View ArticleHow to Successfully Defend a ₹18 Crore GST ITC Demand: A Case Study
One of the most common and critical GST notices relates to alleged excess input tax credit (ITC) claims, which may result in additional tax demands along with applicable interest and penalties. This...
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How do I Claim GST Input Tax Credit on My Existing Closing Stock?
Input Tax Credit According to the model GST Law, a taxable person can accumulate credits of taxes paid and carry them forward in a return. With the introduction of the GST, the last set of credits will...
View ArticleComplete Guide to FC-GPR Filing for Foreign Investments in India
Foreign investments play a crucial role in the growth of Indian businesses, and regulatory compliance ensures transparency in these transactions. One such compliance requirement is the Foreign...
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Maximizing Your Financial Potential: The Importance of Tax Consultant Services
Introduction: Navigating the intricate world of taxes can be a daunting task for individuals and businesses alike. With ever-changing tax laws, regulations, and complex filing requirements, it is no...
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Expert Auditing, Assurance, Accounting & Taxation Services in India
“Accounting is the language of business” – Warren Buffet Accounting constitutes an integral part of any business as it helps in: Ensuring statutory compliance Creating a budget and future...
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How to Calculate Capital Gains Tax on Sale of Residential Property?
‘Capital Gains’ can be defined as the profits or gains arising from the transfer of capital assets. These are chargeable as the income of the financial year in which the sale or transfer takes place....
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Restricted Stock Units – When, Where and How is it taxable?
Introduction Restricted Stock Units (RSUs) are performance-based employee benefit by means of stocks granted by the company that entitles the employees to enjoy the shares of the company (or cash...
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Annual Return on Foreign Liabilities and Assets
Annual Return on Foreign Liabilities and Assets (FLA) under FEMA Act Which companies are required to submit the FLA Return? The annual return on Foreign Liabilities and Assets (FLA) is required...
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Best CA Firm for your Articleship in Chennai
How to Choose Right CA Firm in Chennai for your Articleship: Choosing the right CA firm for your articleship is an important decision that can have a significant impact on your career as a chartered...
View ArticleDifferences between Form 10B, 10BB, 10BD, 10BE for Trusts and Charitable...
Form 10B Every organization or trust registered under Section 12 must file Form 10B. Here are some of the situations where filing form 10B is mandatory: Gross total...
View ArticleGST Refund Process: A Comprehensive Guide
Are you struggling to get your GST refund? Losing thousands in tax credits that rightfully belong to you? Every year, businesses across India miss out on significant refunds simply because they don’t...
View ArticleIncome below tax slab? Filing an ITR still pays off in ways you didn’t know
Should you file an income tax return (ITR) even if your annual income is under the basic exemption limit? Financial experts believe the answer is a clear yes, not for tax liability, but for financial...
View ArticleNRI Income Tax Filing – NRI Tax Consultants In Chennai
Taxation is the primary source of revenue for any government and is based on the theory of the maximum welfare of society. The rates of income tax are different for people who are residing in India and...
View ArticleUSA Tax Reforms – Impact on Indian Companies
I. Foreign Persons Operating or Investing in a U.S. Business or U.S. Real Property Through a U.S. Subsidiary 1. Reduction of the U.S. federal corporate income tax rate from 35 percent to 21 percent...
View ArticleUnderstanding the Benefits of Outsourcing Accounting Services in Chennai
Introduction: In today’s rapidly evolving business landscape, companies face numerous challenges, and one critical aspect that demands careful attention is accounting. Proper financial management is...
View ArticleBudget 2024 changes on Sale of Immovable properties by Non-residents
Budget 2024 changes on Sale of properties for NRIs The 2024 budget impacts capital gains tax for immovable properties sold in India. There is a fair amount of confusion about the tax implications for...
View ArticleBorrowing Powers – section 180(1)(c) of Companies Act, 2013
Section 180 of the Companies Act 2013 corresponds to section 293 of the companies Act, 1956 and the said section has been brought into effect from 12th September 2013. The earlier section 293 and the...
View ArticleGST Impact on Hospitality Industry Business in India
The implementation of GST has had a tremendous impact on the Hospitality Sector. This significant industry is expected to rise to over Rs 32.05 lakh crore by 2028. The major reasons behind this growth...
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