New vs Old Tax Regime The new tax regime under the Income Tax Act in India, introduced in the Union Budget 2020-21, offers taxpayers an alternative tax structure with lower tax rates but without various deductions and exemptions available under the old tax regime. New tax regime: 1. Lower Tax Rates: The new tax regime… Read More »
Form 15CB Form 15CB is a certificate issued by a Chartered Accountant (CA) in India. It is require for certain international transactions involving the transfer of money to non-resident individuals or entities. Here’s an explanation of Form 15CB meaning: 1.Purpose: Form 15CB is use to certify that the remittance being made to a non-resident or… Read More »
TDS compliance for Pvt LTD Company TDS Compliance for a Pvt LTD company involves fulfilling various requirements to deduct and remit TDS on specified transactions. Here are the key aspects of TDS compliance for a private limited company: Obtain TAN (Tax Deduction and Collection Account Number): Ensure that the private limited company has obtained… Read More »
GST Trusts Revocable GST trusts revocable,GST trusts, alternatively referred to as GST trusts revocable, are distinct trusts design with the specific intent of facilitating estate planning and the transfer of wealth. These trusts are characterized by their irrevocable nature. These trusts are commonly use to minimize or avoid estate taxes and provide for the… Read More »
Expat tax planning Expat tax planning also known as expatriate tax, refers to the tax considerations and obligations that individuals living and working outside their home country must address. Tax planning often face unique tax challenges due to their international status and the potential application of tax laws from multiple jurisdictions. It’s typically involves assessing… Read More »
Can I use a single GST number for selling products and services Yes, you can use a for selling both products and services. The GST system is designed to accommodate businesses that deal in a single GST number for both products and services. Under the GST law, all goods and services supplied are subject to… Read More »
Expat taxes Expat taxes,The tax responsibilities of expatriates can vary depending on their unique circumstances and the specific countries involved in their financial activities. These individual factors contribute to the fluctuation in their tax obligations. Generally, expats may have tax obligations in two main areas: Home Country (Country of Citizenship or Residency): Expat taxes… Read More »
Do expatriates have to pay taxes Do expatriates have to pay taxes, commonly referred to as expats, face a wide spectrum of tax obligations that exhibit considerable variation depending on their unique circumstances. Factors such as their country of residence, citizenship, and the tax regulations of both their home country and the country of… Read More »
Indirect and Direct Tax Indirect and Direct tax is a type of tax that is imposed on the income or wealth of an individual or entity. It is called “direct” because the tax is levied directly on the person or entity that is liable to pay it. The tax liability cannot be shifted to… Read More »
Is money transfer taxable in India Not all payment or transfer of money is taxable within India. The taxability of payment or transfer of money depends on the nature and purpose of the payment. For instance, if an individual receives salary income, then it is taxable under the head ‘salary’ and the employer is required… Read More »