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CBDT Circular on TDS on Salaries for FY 2022-23
Every year The Central Board of Direct Taxes (‘CBDT’) issues guidelines regarding tax to be deducted at source on salary under section 192 of the Income Tax Act, 1961. The guidelines focuses on the documents to be collected by the employer and submitted by the employee to his/her employee so that employer will deduct the tax accordingly.
Foreign Companies, their tax rates & filing of Income Tax Return in India
Foreign companies are very enthusiastic about setting their footprint in India & establishing their commercial presence here. Foreign companies can set up a Wholly Owned Subsidiary in India, a Limited Liability Partnership, a Project Office, a Liaison Office, a Branch Office, etc.
Updated Return – Boon or Bane for Taxpayers?
Through the Budget 2022 on 1st February 2022, the Government of India introduced the concept of Updated Income Tax Return under section
139(8A) of the Income Tax Act, 1961;
Master Direction – Export of Goods and Services
In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place with effect from July 11, 2022 an additional arrangement for invoicing, payment, and settlement of exports / imports in INR.
Time Limit for Deferred Payment Arrangements
RBI amendment in Master Direction For Import of Goods and Services.
Companies (Registered Valuers and Valuation) Rules, 2017
In exercise of the powers conferred by section 247 read with section 458,459 and 469 of the Company’s Act, 2013, the Central Government hereby makes the following rules further to amend the Companies (Registered Valuers and Valuation) Rules, 2017
Major Legislations to Companies in India
Every company needs to undertake a thorough analysis of the laws applicable to it & ensure timely & accurate compliance to avoid penalties & contravention.
Annual Compliance Certificate for Insolvency Professional Agencies
In furtherance to Circular issued by IBBI dated 31/10/2022 and in consequence of amendments in Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016, and in suppression of the Circular No: IPA/009/2018 dated 19th April, 2018,
When does a Foreign Company obtain a PAN in India?
A Permanent Account Number (‘PAN’) is a ten-digit alphanumeric number issued by the Income Tax Department in India.