For several decades, one of the most enduring “grey areas” in the Income Tax Act of 1961 has been the categorization of manpower supply services. Companies in India, ranging from fledgling start-ups to large conglomerates, have been struggling with a simple question: Is the provision of manpower a “Works Contract” under Section 194C of the …
In the history of international digital policy, the month of February 2026 will be remembered as the time when India, from being a mere consumer of global cloud services, transformed itself into the global digital safe haven. The declaration of the “Cloud Tax Holiday,” a tax exemption for a period of several decades until the …
Expanding your business footprint beyond Indian borders is no longer a privilege reserved for the titans of industry. In the current digital-first era, even mid-sized enterprises and startups are tapping into global markets. However, with global expansion comes a labyrinth of international tax regulations that can make or break your bottom line. If you are …
The rise of digital nomads and remote professionals is redefining work as we know it. Freed from office cubicles, professionals now travel the world while working from beaches, co-working spaces, or mountain retreats. While this lifestyle offers unparalleled freedom, it also introduces complex tax challenges. How do you manage income tax when you’re constantly on …
Introduction The introduction of new TDS sections often signals a shift towards more intricate tax compliance requirements. The recent addition of Section 194T, set to become effective from April 1, 2025, is a case in point. Traditionally, TDS provisions were primarily concerned with payments to employees within firms, leaving payments to partners—such as remuneration, interest, …
What is a HUF? HUF means Hindu Undivided Family. You can save taxes by forming a family group and pooling assets into a HUF. HUFs are taxed separately from their members. A Hindu family can jointly form a HUF. Buddhists, Jains and Sikhs can form HUFs. HUF has its own PAN and free tax returns …
The Reserve Bank of India (RBI) has taken a significant step for fairness and transparency in disclosing penal charges. Instead of ‘interest,’ penalties will now be considered a ‘charge’ and not compounded further. This change won’t affect regular compounding of interest on loans. Regulated entities (RE) won’t add additional interest to penal charges. Many REs …