-
India-Mauritius DTAA Amendment Closes Tax Avoidance Loophole
India and Mauritius have agreed to abide by recent DTAA revisions, which include a PPT clause to prevent any unjustified tax avoidance.
-
India’s ITR Forms for AY 2024–25: Key Updates
India's Income Tax Department has released ITR Forms 1-6 for AY 2024–25 and is enabling e-filing mechanisms according to reporting deadlines.
-
India-Spain DTAA Notification: Lowered Tax Rates and Key Provisions
India has announced that tax rates on royalties and fees for technical services under the India-Spain DTAA will be capped at 10%, a rate lower than domestic laws, as per a most-favored nation basis, according to a March 2024 notification.
-
Tax Rules in India in Effect from April 1, 2024
FY 2024-25 begins April 1, 2024 and brings in no new changes to the tax rules in India per the federal government. We roundup the direct tax rules applicable for AY 2024-25 and certain Finance Act 2024 amendments to the indirect tax regime.
-
NFRA Seeks to Promote Innovation in India’s Auditing Industry
At the maiden international conference organised by the NFRA, its chairman, Ajay Bhushan Pandey, has expressed strong intentions to inculcate a framework identical to an innovation lab to promote technological advancement in the auditing industry.
-
Mauritius Government Amends its Double Tax Treaty with India to Align with BEPS MLI
In a list of Cabinet Decisions taken by the Mauritius government on February 23, 2024, it was announced that its DTAA with India would be amended in keeping with BEPS norms.
-
India’s New Tax Compliance Law Impacting MSMEs: Section 43B(h) Explained
We discuss why specified companies could face higher taxable incomes under section 43B(h) of the Income-tax Act, 1961, due to delayed payments to MSME suppliers.
-
Understanding Accelerated Depreciation of Solar Power Assets in India
Accelerated depreciation is a crucial driver of investments in the adoption of solar power in India, offering commercial and industrial consumers faster depreciation on solar power plant investments than traditional plants and machinery.