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Best CA Firm for your Articleship in Chennai

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 […]

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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 […]

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Director’s Registration in MCA V3 Portal

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 […]

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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.

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Electronic Filing Of Form 10F For Foreign Remittances is Now Mandatory

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 […]

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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 […]

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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.

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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, […]

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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 […]

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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 […]

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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.

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How to Claim Credit on Foreign Tax Paid

Introduction Foreign Tax Credit (FTC) is a non-refundable tax credit for income tax payments made to a foreign government as a result of foreign income tax withholdings. The assessee may claim relief for taxes paid on income earned in a foreign country that is also taxed in his or her home country. The objective of […]

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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 equivalent of the shares) on the exercise date, provided that the conditions pertaining to performance and duration of work have been fulfilled over the vesting […]

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ITR Filing Deadline December 31 for the financial year 2020-21: Keep These Documents Ready before Filing Income Tax Returns

All you tax payers, have you filed income tax returns (ITR) for the financial year 2020-21? If not, it is mandatory to do it before December 31 as this is the ITR Filing Deadline. We suggest that taxpayers should not wait for the last moment because if you miss the deadline to file the IT […]

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What is Retrospective Tax? What are its Implications? Let us Explain it Using Examples

Retrospective tax enables a country to pass a rule on taxing certain products or services. It is charged for transactions in the long past and can be a new or additional charge on transactions done previously. Several countries apart from India including the US, the UK, the Netherlands, Canada, and Italy have retrospectively taxed companies […]

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