Other Briefings
PAN Application Procedures For Foreign Nationals In India
Apr. 11 – In this article, we describe the proof of identity and proof of address requirements associated with the application of a permanent account number (PAN) for Indian citizens outside of India, foreign citizens located in India, and foreign citizens located outside of India. Citizen of India located outside India at the time of […]
Indian GAAR Impacts on Mauritius Tax Haven Use
India’s new General Anti-Avoidance Rules kicked in from April 1, and it looks like they will have an immediate impact on the use of Mauritius as a tax haven for investing in India.
India Increases Service Tax Rate
In the Annual Budget for 2012-13, the Finance Minister has proposed to increase service tax to 12 percent from the previous rate of 10 percent. The new rate came into effect from April 1, 2012.
General Analysis of the 2012-2013 Budget for Indian Citizens
Mar. 23 – Ordinary Indian citizens have a lot of hope for the Budget 2012-13 in terms of more income tax freedom, more income tax deductions, and the documents potential to rein in inflation. Even while the average citizen is also interested in growth and industrial development, that last point, inflation, will definitely be of […]
Service Tax for Directors for the Year 2012-13
Mar. 22 – Before the new budget was issued, there was ambiguity surrounding the dealing of director’s remuneration. There is inconsistency about whether it is considered salary income or business income chargeable under the head business and profession. However, in the new union budget, India has issued a new clause – clause 194(J) – clarifying […]
India’s New Tax Structure for the Year 2012-13
Income tax rates with respect to the assessment year 2012-2013 Mar. 20 – In respect to income of all categories of assessees accountable for tax during the assessment year 2012-13, the rates of income tax have been specified in Part I of the First Schedule to the Bill. These are the same as those laid […]
Tax Relief Suggestions for India’s Yearly Budget
Mar. 15 – During the yearly Union Budget set to take place later this week, the Select Committee of Parliament is expected to replace the Income Tax Act (1961) after examining the Direct Tax Code Bill (DTC), and has recommended some very significant tax reforms and tax payer-friendly measures. With regards to personal taxation, it […]
Funding Options for a Corporation in India
By Cherry Bansal Mar. 7 – These days, business has no boundaries. Entrepreneurs are investing worldwide and indulging in more and more cross border investments. While investing in various countries, investors can take advantage of low tax jurisdictions over high tax jurisdictions by structuring the funding in a tax efficient manner. There are broadly two […]
