This article explains how residential status under the Income-tax Act, 1961 determines whether India can tax your global income or only India-sourced income. It highlights statutory tests, classifications, and judicial principles governing tax jurisdiction.
Explains how Section 6 determines whether global or only Indian income is taxable. Highlights differences between ROR, RNOR, and Non-Resident status.
Explains how agricultural income is fully exempt under Section 10(1) but can impact tax rates on other income. Covers constitutional basis and partial integration rules.
With the growing trend of Indian professionals providing consultancy services to overseas clients, understanding the tax and regulatory implications has become essential. Cross-border consultancy is not just about earning in foreign currency—it involves careful compliance under GST, Income Tax, FEMA, and proper Accounting of foreign exchange transactions. This article provides a practical overview of the […]
The Reserve Bank of India has notified the “Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026” vide Notification No. FEMA 3(R)(5)/2026-RB dated 9th February 2026 effective immediately upon publication in the Official Gazette. The Reserve Bank of India hereby makes the following amendments to the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 […]
The article explains why oversight of auditors is essential to maintain public confidence in financial reporting. It highlights the need for accountability to prevent fraud and negligence.
The Enforcement Directorate levied penalties after finding misrepresentation in FDI receipts and improper reporting of foreign inward remittances. The adjudicating authority held that the contraventions were substantial and systemic under FEMA, 1999.
Budget 2026 introduces the new Income Tax Act, 2025 effective 1 April 2026. The existing law will continue for FY 2025-26, with major structural and compliance reforms ahead.
Courts are moving away from treating absence of DIN as automatically voiding tax notices. If the document is system-generated and traceable, it may still be legally valid.
Company registration gives a business separate legal identity and limited liability protection. It is essential to operate legally and access government schemes and formal benefits.
