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This is how you can save tax this year

17 February 2016
With the end of financial year just around the corner, it is time to save certain amount of taxes by investing in prescribed instruments which are eligible for deductions. Chapter VI-A of the Income-tax Act primarily provides for deduction on...

Taxpayers should not worry about the tighter PAN norms

20 January 2016
The income-tax department, recently, changed the regulations that require individuals to quote their permanent account number (PAN) for certain high value transactions. The rules, applicable from 1 January 2016, rationalises the earlier law and...

Why this POEM spooks corporate India

20 January 2016
The Finance Act, 2015, amended the provisions of the provisions of income tax act relating to determination of residence of a company. According to the amended provisions, a company would be said to be resident in India in any previous year, if it...

Taxability Of Income And Wealth Of Minor On Completing 18

18 January 2016
From the wealth tax perspective, it is important to note that the clubbing provisions shall still be applicable and the parent shall be subject to wealth tax in case where the asset has been transferred to a minor child without any consideration.

‘Myths and misunderstandings – Wrong perceptions regarding gift tax on residential properties.’

18 January 2016
There is a myth that there is no Gift Tax in India. Although there is no separate Gift Tax Act prevailing in India, the receiver of the gift may be subject to tax on the amount of the gift received under the Income Tax Act, 1961. However, there are...

Are you an HNI? here are 5 ways to save your tax

8 January 2016
In taxation parlance, pursuant to the recent Finance Act 2015 which has been legislated, 2 per cent additional surcharge has been proposed on individuals having a taxable income of Rs 1 crore (Rs 10 million) and above. Therefore, the individuals...

Transfer pricing - CBDT notifies rules for range & multiple year data; sets range at 35th-65th percentile

10 November 2015
Analysis of Final Rules issued by CBDT on ‘Range Concept’ & ‘Multiple year data’

RSM in India empaneled as an IT Security Auditing Organisation with Cert-IN (Ministry of Telecom & IT, Gov. of India)

19 October 2015
RSM in India empaneled as an IT Security Auditing Organisation with Cert-IN (Ministry of Telecommunications and Information Technology, Government of India)

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