In recent years, India’s startup ecosystem has experienced remarkable growth, driven by innovation and a supportive policy framework.
From Chaos to Clarity – Streamlining Tax Compliance for Indian Corporates
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…
From Transfer Pricing to PE: How MNCs Can Avoid Tax Litigation in India
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…
Introducing the Direct Tax Vivad Se Vishwas Scheme 2024 – DTVSV
Navigating New Buyback Tax Rules Beginning October 2024: What It Means for Shareholders
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…
Tax Implications of ESOPs: A Comprehensive Guide
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…
A New Era of GST Compliance: Old Roots, New Wings with IMS
On September 3, 2024, the GSTN issued an advisory regarding the new Invoice Management System (IMS).
Capital Gains Tax Overhaul – The New Rates & Structure You Need to Know
The Finance Act 2024 has introduced a long-anticipated reform, simplified the tax rates and held periods for various assets. Previously, various asset categories had different holding periods to be classified as Short-Term or Long-Term Capital Assets. Now, a uniform holding period of 12 and 24 months has been established, eliminating the former 36-month requirement. The holding period for all listed securities and equity-oriented funds are…
Understanding Union Budget 2024 Proposals: Increased Threshold for Partner Remuneration and New Withholding Tax Rules for Firms
The Union Budget 2024 introduces several amendments to income tax provisions, affecting various sectors and stakeholders. Among these changes are two notable updates relevant to partnership firms and Limited Liability Partnerships (LLPs) regarding remuneration to partners. These updates will take effect from April 1, 2025, for the Assessment Year 2025-26. Here’s a closer look at these changes and their potential impact. 1. Increased Allowable Remuneration…
Old Vs. New Tax Regime: Which Offers Better Benefits for Salaried Employees?
The recent budget update has brought significant changes to the salary landscape, impacting both employees and employers alike. Grasping these changes is essential for confidently steering your financial future. Let us discover the key aspects of the Budget updates and unlock the insights you need: Incentive For Salaried Employees Under New Tax Regime (NTR) Tax Rate Income slab (in INR) Proposed Income slab(in INR) Tax…