Ever wondered how much remuneration or interest to partner is allowable in a Limited Liability Partnership (LLP)? Yes, then this article is definitely for you. So, without further ado, let us get started with the article. Interest payable to partners…
Ever wondered how foreign income is different from Indian income? Let us find out. Indian Income Any of the following three is an Indian income: i) If income is received (or deemed to be received) in India during the previous…
Section 24 deductions from House Property Income is one of the most discussed topics. However, there are a lot of things about Section 24 that are not necessarily public knowledge. So, to help you out here is our two cents…
Residential Status and Incidence of Tax on Income under Income Tax Act, 1961 The residential status of a person is required to be determined for each assessment year in order to determine the scope of total income. The basis of…
GROUNDS FOR REMOVAL OF DIRECTOR :- The removal of a director can occur under several circumstances, which may include: Incompetence or failure to perform duties: Directors who fail to meet their responsibilities and obligations under the Companies Act or the…
We are aware of the fact that, any person who is applying for the GST Registration has to file GST return online. To help you more with the procedure, we have mentioned most of the details in this article. So,…
Ever wondered what procedure needs to be followed for deemed exports under GST? If your answer is yes, then we will help you to understand it better. So, let us begin. The central government on the recommendation of council, hereby…
This article will give you a glimpse on the GST audit. Let us first have a short brief on GST. GST is an indirect tax imposed on goods and services. It had been introduced with the regime “one nation, one…
Annual Return Form GSTR 9 filing under GST has seen lot of issues recently especially regarding finalisation of the format itself! With over 6 parts and 19 sections, it is not an easy feat to fill each and every section…
To most people, filing income tax returns is counted among the most unpleasant tasks. Filing returns is an obligation which you are tempted to ignore, yet attend to because it is a regulatory requirement. Filing of returns earns you the…
Moving to a foreign country often proves to be a challenge and coming to terms with a new taxation system is one of the many significant factors contributing to this challenge. If you thought tax laws were meant only for…
Transactions between two or more companies/entities in India are governed and guided by a specific set of rules and laws. However, this is not in the case where transactions happen between two related entities overseas. There are separate sets of…