If the aforementioned requirements are met, capital gains will be subject to tax. Meaning of Capital AssetCapital Asset is defined to include: However, the term ‘Capital asset’ shall exclude the following: – Stocks of consumables, raw materials, and other assets kept for trade, commerce, or vocation; Mobile property kept for the taxpayer’s own use or …
Tax deducted in foreign country? Here are few important points you should notice in advance. Table of Contents… Why is tax deducted in foreign country and what is foreign tax credit? Why Claim Foreign Tax Credit in India? How to Claim Foreign Tax Credit in India? Relief under Section 90 and 91 Challenges while filling …
The DPT 3 is a Return of Deposits that companies are required to submit in order to provide information on deposits and/or unpaid loan or other types of money other than deposits. According to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014, NIL ReturnThere is no requirement of filing Nil return. DPT-3 is …
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Micro, Small and Medium Enterprises (MSMEs) play a significant role in the Indian economy by generating employment and contributing to GDP growth. To promote the growth and development of these enterprises, the Government of India has introduced various schemes and initiatives, including MSME registration.MSME registration is the process of obtaining a certificate of registration from …
Annual Information Statement Annual Information Statement (AIS) is comprehensive view of information for a taxpayerdisplayed in Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS showsboth reported value and modified value (i.e. value after considering taxpayer feedback) under eachsection (i.e.TDS, SFT, Other information). Objectives of Annual Information System Process To Access Annual …
1.What do you understand by EQL?Equalisation Levy is referred to as EQL (EQUALISATION LEVY). It would be assessed on digital services (mostly Advertising) offered in India by non-resident companies. 2. Why it is charged?In India, Non-Resident corporations would frequently avoid paying any type of tax. The government instituted EQL @ 6% on all non-resident entities …
As businesses grow, they need to ensure that their financial records are accurate and that their operations comply with legal and regulatory requirements. To achieve this, they may conduct internal audits or engage external auditors. Both internal and external audits serve the same goal, which is to improve the organization’s efficiency and accountability. However, they …
Meaning of Foreign Subsidiary CompanyA foreign subsidiary company is any company, where 50% or more of its equity shares are owned by a company that is incorporated in another foreign nation. For example, a company incorporated in USA (Parent company) is executing the same business operation through an Indian subsidiary company. However, this company should abide by …
As a business owner in India, one of the most important decisions you will make is choosing a name for your company. Not only does your company name represent your brand identity, but it also plays a critical role in establishing your legal presence in the country. However, before you can start using your chosen …