S.9(1)(vi)(b) of the Income Tax Act, 1961 ("The Act") provides that income by way of royalty payable by a resident except where the royalty is payable in respect of any right, property or information used or services
In this article, I am presenting some hilarious Tax Audit QAs/visualisations conceived and visualised by me, which will help You in understanding all important reporting clauses in the Form 3CD Annexure in the Tax Audit Report (TAR), in a funny yet purposeful and useful manner.
Compliance Calendar for the month of October 2022
A Non-Resident External (NRE) Account is a bank account that an NRI can open in an Indian scheduled bank to deposit their foreign earnings in India. These accounts can be savings accounts, current accounts, recurring deposits, and fixed deposit accounts
MAT is payable at the rate of 15% of the book profits of the company, prepared as per Schedule III of the Companies Act, 2013.
Many non-resident Indians (NRIs) came to India just as COVID-19 had started to spread and were stuck in India for a longer period. The main concern after the pandemic was regarding the treatment of their tax liabilities. However, the government has come up with various rules about the residential status of these people.
In this article author has shared the matter for qualification regarding clause 44 of the Tax audit
CBDT issued FAQs for filing of Form 3CA-3CD/3CB-3CD
The DTAA (Double Taxation Avoidance Agreement) assists NRIs who work outside of India in avoiding paying double taxes on income earned in India and their residency country.
As you are aware the Compounding of an offence is a process or mechanism in which a defaulter is reprieved of major legal consequences and imprisonment by paying specified sum. An offence can be compounded by Principal Chief Commissioner or Chief Commissioner of Director-General having jurisdiction where defaulter resides or running business or profession.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
