Tax authorities can reassess a person or a company in case they have reason to believe that there is unreported income. If new information reveals that income has eluded taxation, tax officers are empowered to serve a notice of reassessment under Section 148 of the Income Tax Act. The function of an income tax reassessment 148…
The process of filing or even gauging the various tax clauses can be baffling to a lot of individuals; it might be even more confusing especially when dealing with international transactions. Thus, the taxation system has streamlined the process with the introduction of the 15CB tax form, which plays a crucial role in ensuring compliance…
In the ever-evolving landscape of taxation, businesses face numerous challenges and complexities. Companies need proactive strategies to navigate these challenges effectively, from changing tax regulations to maximizing tax efficiency. This is where tax solutions and advisory services play a vital role. This blog post will investigate how proactive tax solutions empower businesses and provide valuable…
Tax controversies and disputes can be complex and challenging for businesses and individuals. When faced with such situations, finding tax clarity becomes crucial. This blog post will explore effective resolution strategies for tax controversies and disputes, helping taxpayers navigate the complexities and achieve favourable outcomes. Understanding tax controversies and disputes: Tax controversies arise when there…
The term “transfer pricing” refers to the pricing of commodities, services, and intellectual property that are moved between linked companies within multinational corporations. It plays a critical part in defining the distribution of profits among different entities and countries. However, the implementation of tariffs can significantly impact transfer pricing arrangements. In this writing, we will…
Tax disputes can be a major headache for individuals and businesses alike. From managing tax litigations to resolving income tax disputes, navigating the complex and often-changing landscape of tax law can be challenging. It is where the expertise and efficiency of tax professionals can make all the difference. Managing tax litigations: Tax litigations can be…
Completing and filing the 15CA form can be confusing and time-consuming, especially for those without expertise in tax matters. But with the help of a tax consultant, you can make the process much more manageable and straightforward. Filing the 15CA form is essential to pay a foreign entity, as it ensures that the payment complies…
Form 15CB is a critical document required under the Indian Income Tax Act and its regulations, used to calculate the tax liability on income earned from outside India. As a business owner, it’s vital to clearly understand Form 15CB and the role a tax consultant can play in helping you comply with this form. Form…
The Income Tax Return, or ITR, as it’s commonly known, is an official document that you should file every year as per government regulations. While it might seem like another tedious government requirement, filing your ITR is necessary if you want to avoid some severe consequences. If you desire to learn more about this topic…
Non-resident taxpayers are required to furnish a Tax Residency Certificate (TRC) issued by the tax authorities of their country of residence as proof of their residence in the said country. TRC provides information such as nationality, status, tax period, tax identification number, and address of the non-resident taxpayer. If any of the prescribed information is…
