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 wonder that many people seek the assistance of tax consultants. These professionals possess a deep understanding of the tax landscape and can provide invaluable guidance to […]
Top 10 Accounting and Auditing Firms in Chennai: A Comprehensive Guide
Introduction: Chennai, the capital city of Tamil Nadu, is a bustling hub of business and commerce. With numerous companies operating in various sectors, the demand for reliable accounting and auditing services is paramount. In this article, we will explore the top 10 accounting and auditing firms in Chennai, providing a comprehensive guide to help you […]
How Property Owners Can Avoid Cracks in Joint Development
Property is illiquid, more so if it is high-value. Rather than sell your plot or redevelop an old home, you may want to consider joint development. One clear advantage is getting a home that fits your current needs, without spending money for construction. Also, it can enable one to partly cash-out on the asset. But […]
FLA Returns Due by July 15, 2023
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 to be submitted directly by all the Indian companies which have received FDI (foreign direct investment) and/or made FDI abroad (i.e. overseas […]
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 accountant. Here are some tips to help you select the best CA firm for articleship: Key tips to select right […]
Property Sale Sans Pain for NRIs
HOME TRUTHS. There are many tax implications in property sale if you are a nonresident This article was published in The Hindu Businessline dated Feb 12, 2023, here is the link With the pandemic highlighting the need to stay physically closer to one’s family and the many impediments to this, seniors whose children are abroad […]
Director’s Registration in MCA V3 Portal
Please be informed that the Ministry of Corporate Affairs (MCA) has mandated that every Director of a company register themselves on the government portal in their personal capacity as a business user and associate their DSC (Digital Signature Certificate) with filing any ROC forms. Given below are instructions for setting up an account in the […]
NRI 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 for those who live overseas.
Electronic Filing Of Form 10F For Foreign Remittances is Now Mandatory
According to Section 90(5) of the Income Tax Act, a non-resident must provide specific information in Form 10F along with the Tax Residency Certificate (TRC) in order to claim the benefits of any Tax treaty in respect of any income earned in India. This benefit may be claimed at the time of tax withholding by […]
Revenue dept. looks to plug capital gains tax leakage
Having observed variations in capital gains tax computation, the revenue department is working on a mechanism to analyse futures and options (F&O) trade data and pre-initial public offering (IPO) transactions. “The directorate of 1-T sys-tems is working on certain risk-assessment parameters to access the data, which could be on the basis of buying and selling […]
DIR 3 KYC Due Date Sept 30, 2022
Director identification number (DIN) refers to a unique identification number of 8 digits allotted to an individual who is willing to become a director or is an existing director of a company.
Non Disclosure Of Foreign Assets Comes Back To Haunt Thousands
A flurry of summons from the Income tax (I-T) investigation wing and the Enforcement Directorate (ED) over the past fortnight has come as a rude reminder to many that despite paying tax they may have a brush with the law. Thousands of recipients of such letters have been caught in a stern, yet often ignored, […]
Updated Tax Return is now called ITR-U
The Budget for the FY 2022-23 had allowed certain taxpayers to file updated tax returns, within 2 years of filing the original returns after paying taxes due. A taxpayer can file only one tax return per assessment year as an updated tax return. The income tax department has notified a new form called ITR-U that […]
Filling of Form DPT-3 as a Part of Legal Compliance
What is Form DPT – 3? Form DPT-3 is used for filing a return of deposit or particulars of transaction not considered as a deposit or both by the companies respectively. Which types of companies are required to file Form DPT 3? Private Limited Company Public Limited Company One Person Company (OPC) Small Company Interesting Read: Advantages for one person […]
5 Benefits of Accounting Outsourcing for all Mid and Small Size Businesses
Hiring an accountant is difficult for many small firms and start-ups. Particularly the one with the necessary abilities to handle their company’s financial statements, bank account operations, prepare outgoing invoices and do all that at a reasonable cost.
