Income Tax : Under the Income Tax Act, 1961, the taxability of an assessee is reliant on the residential status of the assessee. Section 6, whi...
Income Tax : In the era of globalisation, the world of Mergers & Acquisitions is witnessing rapid growth and the race amongst corporates to...
Income Tax : Mutual Funds are like a department store where many products are on display and every one can get product suitable to his needs, r...
Income Tax : A Company is a separate legal entity from its shareholders. Under S.2 (7) of the Income Tax Act, all entities can be shareholders....
Income Tax : To understand the tax implications of Bitcoin and Other Crypto Currencies in India, the following points need to be understood und...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : At a time when the government is accelerating efforts to strengthen the country's taxation system , India and rich countries' club...
Finance : One of the most favoured duty reimbursement schemes among exporters - the Duty Entitlement Passbook (DEPB) scheme - is likely to b...
Goods and Services Tax : One of the most favoured duty reimbursement schemes among exporters — the Duty Entitlement Passbook (DEPB) scheme — is likely ...
Income Tax : With the mammoth task of garnering support on contentious issues like exempt exempt tax (EET) regime for savings and minimum alter...
Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me tell you how: There are over 12 types of taxes in India, yet our tax collections are only 5% compared to the US (Second largest democracy). Due to this, we lack access to free education, […]
Under the Income Tax Act, 1961, the taxability of an assessee is reliant on the residential status of the assessee. Section 6, which governs the determination of an assessee’s residential status for the relevant assessment year has categorised an assessee into below mentioned four specific sub categories:
In the era of globalisation, the world of Mergers & Acquisitions is witnessing rapid growth and the race amongst corporates to expand organically and inorganically is seeing significant momentum across the globe. Strategies that focus on core businesses or diversify into new businesses and markets, or even hive-off non-core businesses, are gaining momentum. This endeavour […]
Mutual Funds are like a department store where many products are on display and every one can get product suitable to his needs, risk appetite, investment horizon. From product for parking your overnight funds to investing for decades, mutual funds can cater to needs to all investors. As the products offered by mutual fund houses […]
A Company is a separate legal entity from its shareholders. Under S.2 (7) of the Income Tax Act, all entities can be shareholders. For example, sometimes Companies themselves are shareholders in other companies and draw Inter Corporate Dividends from the other.
To understand the tax implications of Bitcoin and Other Crypto Currencies in India, the following points need to be understood under the context of the Income Tax Act: 1) Business Income – These are the profits and gains received from any business or profession carried on by the tax payer at any time during the […]
At a time when the government is accelerating efforts to strengthen the country’s taxation system , India and rich countries’ club OECD will deliberate on challenges to international tax rules on Monday. Co-operation in global tax matters have gained prominence , especially after the G-20 crackdown on tax havens, which are being used to park unaccounted money worth billions of dollars. Finance Minister Pranab Mukherjee will address a seminar on ‘Adapting Tax Systems and International Tax Rules to the New Global Environment: A Shared Challenge for India and OECD’ .
One of the most favoured duty reimbursement schemes among exporters – the Duty Entitlement Passbook (DEPB) scheme – is likely to be scrapped, as the government gears up to introduce the Goods and Services Tax (GST) from April 1. The scheme, which was extended till December 31 in the Foreign Trade Policy 2009-2014, is widely viewed as one of the best incentive schemes by exporters.
One of the most favoured duty reimbursement schemes among exporters — the Duty Entitlement Passbook (DEPB) scheme — is likely to be scrapped, as the government gears up to introduce the Goods and Services Tax (GST) from April 1. The scheme, which was extended till December 31 in the Foreign Trade Policy 2009-2014, is widely viewed as one of the best incentive schemes by exporters.
Employee stock options (ESOPs) is a significant employer-granted benefit that too is subject to the above FBT /perquisite-based taxation system. In fact, it almost seems as if the authorities cannot quite make up their minds as to how they wish to tax shares given to employees by their employers on a concessional basis. Having been subject to various changes in their valuation norms, the following is the latest position:
