For any foreign executive operating in India, it is beneficial to have a basic understanding of the country’s audit procedures. In this article, we provide an overview of the different types of audit and audit reporting in India.
Transfer pricing refers to the rules used for pricing transactions within and between enterprises under common ownership or control. Read to know about the arm’s length price, specified domestic transactions, advance pricing agreement, country-by-country reporting, and transfer pricing documentation.
New provisions for tax deducted at source (TDS) under the GST law require foreign e-commerce firms to register in every Indian State. Read to know the details.
Businesses in India can now claim their GST refund by submitting a single form. Here, we discuss the different types of GST refunds available and the process for claiming it.
The Indian tax department has clarified that foreign companies must pay 40 percent tax even if their residency status changes from non-resident to resident by virtue of place of effective management (POEM) rules.
Employee services from the headquarters of a firm to its offices in other states will attract GST as it will be considered a taxable ‘supply of service’ under the CGST Act, as per a Karnataka AAR order.
India allows SMEs and professionals to file their taxes under the presumptive taxation scheme if they meet certain qualifications.
Any person in India, whose estimated tax liability is more than Rs 10,000 (US$145) in a financial year, after deducting TDS, must pay income tax in advance.