ITR Filing Last Date for FY 2025–26 (AY 2026–27)
For the Financial Year 2025–26 (Assessment Year 2026–27), the Income Tax Department has prescribed different ITR filing due dates based on the category of taxpayer and the applicable ITR form.…
India’s Union Budget FY 2026–27: Key Highlights
Finance Minister Nirmala Sitharaman presented the Union Budget for FY 2026–27 in Parliament on February 1, 2026, against the backdrop of global economic uncertainty, shifting supply chains, and evolving investment…
Foreign Subsidiary Company Compliances in India
All companies incorporated in India must comply with the rules and regulations laid down by the Indian government. Foreign-owned subsidiary companies, however, have additional compliance requirements compared to domestically owned…
What is a Net Worth Certificate?
A Net Worth Certificate is an official financial document that provides a detailed snapshot of an individual’s or company’s financial health at a specific point in time. It lists all…
Various Aspects of Taxation on IT Services – GST and Direct Taxation
The earlier VAT and service tax system in India was complex due to the presence of multiple taxes, extensive compliance requirements, and the issue of tax cascading. The introduction of…
Tax on Consultancy Services: Applicability, Tax Rates, and Benefits
Understanding the provisions of the Income-tax Act, 1961 is crucial for consultants to ensure proper compliance and effective tax planning. Familiarity with the applicable tax rules helps consultants manage their…
Tax Guide for Indian Freelancers Receiving Foreign Payments
Being a freelancer in India means handling more than just client work and deadlines—you also need to deal with tax compliance, especially when you earn from international clients. Foreign payments…
Presumptive Taxation for Business and Profession
The presumptive taxation scheme makes income tax compliance easier for small businesses, professionals, and freelancers by allowing them to declare income at a fixed percentage of turnover, without the need…
TDS on Sale of Property by NRIs in India
TDS on Sale of Property by NRIs in India When an NRI sells property in India, the profit earned is classified as capital gains. The type of capital gain—short-term or…
NRO to NRE Transfer: A Complete Guide for NRIs
Managing finances across countries can be challenging for Non-Resident Indians (NRIs). With over 15.85 million NRIs worldwide, keeping track of income earned both in India and abroad is crucial. One…