In India, 18% GST tax is applicable on digital services categorized as ‘OIDAR’. We explain what services are considered OIDAR and relevant GST compliance.
India has finalized its rules for taxing overseas investments in startups in the country—commonly called the ‘angel tax’ provision. We discuss the valuation process for startup investors under the amended Rule 11UA.
In Preparing for Audit in India, we discuss the types of audit, reporting thresholds by entity type, and new technology applications. We also provide practical advice related to the GST audit process and explain compliance related to the audit trail function.
This article examines the core structure of a Hindu Undivided Family (HUF). It covers its key characteristics, step-by-step setup process, vital factors to consider, and its associated tax benefits.
We provide a tax compliance calendar for August 2023 that highlights important India income tax and GST due dates and obligations.
In keeping with BEPS provisions, India has in place an equalization levy since 2016, which was amended in the Finance Act 2020. We discuss how this digital tax mechanism impacts non-resident e-commerce operators in India.
India’s indirect tax regulator CBIC has introduced new rules of e-commerce taxation, which affect composition taxpayers and unregistered individuals supplying goods.
Timely filing and verification of income tax returns (ITR) are necessary for businesses in India to effectively navigate the tax system and avoid penalties and loss of tax benefits.