Other Briefings
Understanding Annual Audit in India: An Overview
In an excerpt from India Briefing Magazine, we provide important tips for the smooth navigation of the country’s audit regulations and accounting standards.
ICAI Submits Revised IFRS Conversion Road Map Ahead of Annual Audit Season
India’s Institute of Chartered Accountants of India has recommended a new timeline for the convergence of Indian Accounting Standards with the International Financial Reporting Standards.
An Introduction to India’s Audit Process: New Issue of India Briefing Magazine
In this issue of India Briefing Magazine, we provide readers with an overview of India’s annual audit process and offer important tips for the smooth navigation of the country’s audit regulations and accounting standards.
Specified Domestic Transactions and Transfer Pricing Provisions in India
India’s Revenue Authorities have extended the applicability of Transfer Pricing provisions to specified local transactions executed between related parties. These provisions initially became effective on March 31, 2013 for transactions exceeding an aggregate value of INR 50 million (US$805,000).
India Increases Tax Audit Limit for Chartered Accountants
The Institute of Chartered Accountants of India (ICAI) has increased the number of tax audit assignments for practicing chartered accountants from 45 to 60. The press release cites the ability for chartered accountants to provide professional, competent services in an IT-enabled environment as the reason for the increase.
Tax Treatment in India
In this article, we highlight several key tax rates in India, including the corporate income tax, the withholding tax and the value-added tax rate. We also outline several points of interest relating to the tax treatment of these items.
Transfer Pricing Law in India
Understanding transfer pricing law in India is an important aspect of maintaining appropriate financial records and will be necessary come tax season. In this article, we outline the key points of India’s transfer pricing policy and their application to Associated Enterprises operating in India.
Individual Income Tax in India
Businesses in India are required to withhold Individual Income Tax (IIT) from an employee’s salary on a monthly basis. In this article, we outline several key regulatory procedures to be aware of when processing your taxes in India
