Tax planning is an important aspect of personal finance in India. With the increasing complexity of the tax system in the country, it has become essential for individuals to plan their taxes in a way that minimizes their tax liability while maximizing their financial resources. In this article, we will discuss some of the key …
According to the GST law, a registered person is allowed to provide travel benefits to their employees. However, if such benefits are given in the form of leave or home travel concession, the company cannot claim input tax credit on the expenditure. This is because such benefits are considered to be personal travel expenses provided …
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Under the CGST Act, a non-resident taxable person who has registered under section 25 is not eligible to claim Input Tax Credit (ITC) on goods or services, except for goods imported by them. A non-resident taxable person is an individual who conducts temporary business in India but does not have a place of business in …
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A CA firm, or a Chartered Accountancy firm, is a professional service firm that provides a range of financial and accounting services to businesses, organizations, and individuals. The services provided by CA firms include tax planning and compliance, auditing and assurance, financial accounting and reporting, management accounting, business advisory, and more. A CA firm typically …
ACE Mega Structure (P) Ltd., a company based in Gurgaon and assessed under the Income Tax Act, was subjected to a search on its premises by the tax authorities. During the search, various incriminating documents were seized, and subsequently, a survey was conducted under Section 133A of the Act. The company filed its return of …
The Delhi ITAT recently ruled in favor of an assessee, stating that the reimbursement of deputed employees’ costs to a non-resident head office would not be subjected to tax deduction at source under Section 195 in the absence of a profit element. The assessee, a project office of TPF Getinsa Euroestudios SL Spain (Head Office), …
The Delhi Income Tax Appellate Tribunal (ITAT) has allowed the appeal of TPF Getinsa Euroestudios SL Spain’s (Head Office) project office in India, stating that the reimbursement of deputed employees’ costs to a non-resident head office on the basis of time spent on an engineering consultancy contract shall not be subjected to tax deduction at …
Golf Course Road is one of the prime locations in Gurgaon, a rapidly developing city in India. It is known for its high-end residential complexes, commercial spaces, and most notably, its golf courses. Due to its luxurious and posh lifestyle, many people aspire to live on Golf Course Road. However, renting a property on this …
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Golf Course Road in Gurgaon is known for its luxurious residential properties and high-end commercial spaces. It is one of the most sought-after locations in Gurgaon due to its proximity to the golf course, top-class infrastructure, and easy connectivity to major parts of the city. Investing in property in Golf Course Road can be a …
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Filing income tax returns is an important responsibility for every individual or business owner who earns an income. It is a legal obligation mandated by the government, and failure to comply with it can result in penalties and legal action. In this article, we will discuss the importance of filing income tax returns for the …
