Tax

With the final quarter of the financial year (January to March) upon us, the process of submitting proof for tax-saving investments takes center stage for both employees and employers.

The Government has boldly embarked on the long-awaited revamp of the Income Tax Act, 1961, a law conceived over six decades ago, which no longer suits the complexities of today’s economy.

In today’s tax environment, assessments are becoming a regular part of business operations. With direct and indirect tax authorities stepping up scrutiny on filings, maintaining flawless records has never been more critical.

In recent years, India’s startup ecosystem has experienced remarkable growth, driven by innovation and a supportive policy framework.

Managing tax compliance in India is a challenging task for corporates due to the complex tax structure, which includes corporate income tax, GST, TDS, Labour Laws and various other Central…

For multinational corporations (MNCs) with subsidiaries or branch offices in India, navigating the country’s complex tax environment requires both strategic planning and meticulous execution. India’s tax authorities have ramped up scrutiny on cross-border transactions and international tax compliance, making it essential for MNCs to understand the potential areas of litigation and how to mitigate risks. Here are the key areas of tax litigation for MNCs in India…

 

A share buyback occurs when a company repurchase its own shares from shareholders, reducing the number of shares on the market. This strategy helps the company reclaim ownership and strengthen its control. Share buybacks have traditionally been used to reward shareholders and manage surplus capital, but recent tax changes have significantly altered the landscape, especially concerning how taxes are levied on buyback transactions. Here is…

Employee Stock Ownership Plans (ESOPs) have become an increasingly popular form of compensation for employees, particularly in startups and large corporations. These plans offer employees the chance to own shares in the company they work for, aligning their interests with the company’s long-term success. While ESOPs are an attractive option for wealth creation, understanding the tax implications is crucial for maximizing their benefits. What are…

On September 3, 2024, the GSTN issued an advisory regarding the new Invoice Management System (IMS).