Wholly-owned subsidiary Vs. Merger in India A wholly-owned subsidiary means an entity in which a foreign company called a parent or holding company owns the whole share capital. Although the Companies Act of 2013 does not fully define the phrase wholly-owned subsidiary, several clauses relating to a foreign company and its registration provide context for …
Frequently Asked Questions (FAQs) TDS on Purchases (Section 194Q) Q.: Who is subject to the Section 194Q tax deduction? A purchaser carrying on a business whose total sales, gross revenue, or turnover from the business exceeds Rs. 10 crores for the financial year immediately preceding the financial year in which such items are purchased is …
Presumptive Taxation- Section 44AD, 44ADA, 44AE For Business And Professions What is Presumptive Taxation Scheme? Owners of small businesses make up a sizable portion of the Indian economy and significantly increase GDP. For many of them, however, keeping up the books of accounts and having them audited can seem like a laborious task. To relieve …
BRIEF INTRODUCTION A new section was inserted in the Income Tax Act 1961, named section 194Q, and the same was introduced in Budget 2021-22, which relates to payment of TDS for purchase of goods. Under this section, a person, being a buyer paying any sum to any resident seller for purchase of any goods of the …
CRYPTO REGULATION Bitcoin, blockchain, crypto, regulations, governments, bans, unworthy, revolutionary, such a large amount of news articles on the topics, none with any real worldwide summary. Every country has their own recognition and legality towards bitcoin and its technology. The blockchain here could be a little résumé of what’s currently happening when governments face bitcoin. CRYPTOCURRENCIES IN REGULATORY SANDBOX Nasscom is …
GST Has a Positive Impact on the Real Estate Industry. One of the most important pillars of the Indian economy is the real estate industry. The real estate industry contributes between 6 and 8% of India’s GDP and ranks second only to the IT industry in terms of job creation. With multiple taxes previously applicable, …
Registration of Nidhi Company Do you want to establish a loan or finance company in India? Then you’ve come to the right place since the Nidhi Company is the simplest and most cost-effective way to establish a loan business in India. The Nidhi Company can be started with just seven people and a few simple …
How to obtain Multiple GST No in a single State or UT? In India, any business entity with an annual turnover of more than Rs 20 lakh is required to register under the GST legislation. Registration under GST entails obtaining a 15-digit unique identification number GSTIN, which is encrypted with the applicant’s PAN (Permanent Account …
GST PROVISIONS ON OIDAR (ONLINE INFORMATION DATA BASE ACCESS AND RETRIEVAL) With the rapid technological developments, businesses are nowhere restricted by geographical borders. Internet is the most easy and affordable means for providing services abroad. Such services are facilitated through several mechanisms, which are put in conjunction with business activities, to deliver services outside India. …
FAQ on Applicability of Income Tax Provision to Non-Residents This Article defines the importance of residential status of a person for determining the taxability of the income in his hands of individual, HUF, Company or any other and how to determine the same, will a person holding Indian citizenship be treated as a resident in …