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 »
Implications of Editors Yes, there can be tax implications of editors receive non-monetary perks for their work. This is because the value of these perks considered to income and must reported on their tax return. The specific tax implications will vary depending on the type of perk and the editor’s individual circumstances. However, some… Read More »
Non-monetary perks Non-monetary perks, Yes, there are indeed tax implications when online content creators receive non-monetary perk for their work. These perks, often referred to as “in-kind” benefits or barter transactions, are consider a form of compensation and are subject to taxation. 1. TaxableIncome: Non-monetary perk have an intrinsic value that needs to be included… Read More »
Non-Monetary Perks Yes, there are tax implications in India if a physiotherapist receives non-monetary perks for their work. These perks are consider as ‘perquisites’ and are subject to taxation under the Income Tax Act. Perquisites can include various non-monetary benefits such as accommodation, free or concessional use of a motor vehicle, club memberships, health… Read More »
Professional Services Taxation Professional Services Taxation, Yes, there are indeed tax implications when interior designers receive non-monetary perks for their work. These perks, often referred to as “in-kind” benefits, are consider a form of compensation and are subject to taxation. When interior designers receive non-monetary perks such as goods, services, or other benefits in exchange… Read More »
Capital Gain capital gain Introduction: Tax planning plays a crucial role in managing one’s financial affairs and maximizing after-tax income. which arise from the sale of assets such as stocks, real estate, or businesses, are subject to taxation. However, with effective tax planning strategies, individuals and businesses can optimize their capital gains tax liability… Read More »
Amalgamation of companies Amalgamation of companies “Tax Planning in Company Amalgamations”: Tax planning, within the context of amalgamation of companies, refers to the strategic approach of structuring the transaction in a way that minimizes the tax implications for the participating companies and shareholders. Here’s a unique perspective on tax planning with reference to company amalgamations:… Read More »
Tax planning and management Distinguishing Between Tax Planning and Tax Management: Tax Planning: Tax planning involves the strategic analysis and decision-making process aimed at minimizing tax liabilities while remaining compliant with tax laws. It focuses on utilizing available tax incentives, deductions, credits, and exemptions to optimize tax outcomes. Key characteristics of tax planning include: For… Read More »
Dividend policy Tax planning with reference to dividend policy involves structuring the payment of dividends in a tax-efficient manner. Here are some key tax planning considerations in relation to dividend policy: Dividend Distribution Tax (DDT): In certain jurisdictions, companies are required to pay DDT on the distribution of dividends. Tax planning can involve… Read More »
LLP to Ltd conversion LLP to Ltd conversion: The transition from a Limited Liability Partnership (LLP) to a Private Limited Company (Ltd) is driven by a diverse array of distinctive motives, reflecting the dynamic nature of businesses and the evolving needs of stakeholders involved in the decision-making process. Here, we explore a… Read More »