Taxation and Compliance Archives | Page 4 of 8

10 Feb 23

Budget 2023 – Key changes relating to withholding taxes

Every year the finance minister presents the budget of the country in the Lok Sabha. The budget explains how the government is planning to collect taxes or earn through other sources and how the government is going to spend the same. Governments in developing countries, usually spend more than the…

10 Feb 23

Budget 2023 – Tax changes that affect businesses and startups

At the time of the presentation of the Budget before the Parliament, a Finance Bill is also presented detailing the imposition, abolition, remission, alteration or regulation of taxes proposed in the budgeted estimates. The Finance bill is introduced every year to give effect to the financial proposals of the Government…

10 Feb 23

Budget 2023 – Summary of key changes in the Customs law

Following are the key changes relating to the customs laws – Certain exemptions will not expire automatically In 2021, the Central Government introduced a new section 25(4A) in the Customs Act, to make all conditional exemptions to be valid only for two years. The provision aimed to eliminate outdated exemptions…

30 Dec 22

GST Annual Returns and the preparation for Departmental Audits

Background It’s been more than five years since the implementation of the new Goods and Services Tax (GST) law in July 2017. The new regime of indirect taxes brought a paradigm shift in the way businesses conduct their operations across India. However, the journey has been full of uncertainties and…

09 Sep 22

Section 194R – A Brief Analysis of New TDS Compliance

Introduction of of New TDS Compliance Many companies often transfer benefits arising out of sales or services directly to their agents. It is a common practice for many corporates to gift cars, trips, laptops, mobiles etc. to their stakeholders for achieving targets or as incentives. These people may be selling…

30 Jun 22

New VPN Rules – Is the Government stretching too far?

Background Indian Computer Emergency Response Team (CERT-In), India’s cybersecurity watchdog, has issued new directives for companies offering Virtual Private networks (VPN). Under the new directive, VPN provider companies are required to store user data for at least five years, amongst other rules. These companies are now mandated to collect specific…

30 May 22

Income Tax – The art of computing Capital Gains!

Introduction If you see the income tax act as a law, it’s complex, lengthy and tedious. However, if you see it as an art, you will find a humongous space for creativity. The Chartered Accountants are well versed with the latter part, as they understand the intricacies of the law.…

30 Apr 22

Complete guide to filing income tax returns for 2022

Introduction An Income Tax Return or ITR as many people call it is a form where the taxpayers are expected to declare their taxable income and the tax due to the government as per the income tax laws. Besides, the taxpayer is also expected to mention all the eligible deductions…

21 Feb 22

Budget 2022 – Comprehensive analysis of budget announcements

“There’s no surprise, that’s the surprise.” Preface Cut your coat according to your cloth, because if you don’t, you will lose them both! Budgeting is an essential part of our lives. We are budgeting all the time, knowingly, unknowingly, as it helps us in keeping our expenses in tandem with…

21 Feb 22

Budget 2022 – New Faceless Assessment Scheme

More time to release new faceless assessment schemes The scheme for faceless assessment for determination of arm’s length price under section 92CA, dispute resolution panel under section 144C and appeal to the appellate tribunal under section 253, were required to be issued by March 31, 2023; and for the procedure…

Budget 2023 – Key changes relating to withholding taxes

Budget 2023 – Tax changes that affect businesses and startups

Budget 2023 – Summary of key changes in the Customs law

GST Annual Returns and the preparation for Departmental Audits

Section 194R – A Brief Analysis of New TDS Compliance

New VPN Rules – Is the Government stretching too far?

Income Tax – The art of computing Capital Gains!

Complete guide to filing income tax returns for 2022

Budget 2022 – Comprehensive analysis of budget announcements

Budget 2022 – New Faceless Assessment Scheme

Five Common Mistakes to Avoid While Filing Your ITR in India

Why Outsourced Accounting Is the Smart Choice for Growing Businesses

Transfer Pricing Explained: How it Impacts Global Businesses

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