Since its advent, GST has been a subject of discussion in almost all social or political meetings. With the purpose of levying a single tax in entire nation, GST was introduced. In this fast pacing and dynamic world alterations in the already established rules of GST were equally important for uniform tax compliance throughout the country.
For complimenting GST era, GST Amendment Act, 2018 was introduced by Government of India in August, 2018. Amendments instituted via this Amendment Act were notified to be effective on and after February, 2019. In addition to this, on the recommendations of GST Council in … Read more
Transfer pricing concept has gained immense importance over the past few years. Rules and methods used for pricing of transactions among endeavors under common control are generally the basis forming transfer pricing. Transfer pricing has gained importance in diverse business enterprises because of requirement of reporting of financial information by segment and related party transactions as focused in the International Accounting Standard (IAS 14 & IAS 24) and Accounting Standard (AS 17 & AS 18).
Concept of transfer pricing
Transfer pricing on the whole cite to prices of transactions between associated enterprises which may be carried out under conditions different … Read more
Any person or persons residing temporarily or permanently in a country that is different from their home country or country of citizenship is referred to as an expat. Taxation of such expat employees involves a slightly different computation than the tax computed for a regular employee of an Indian organization.
Foreign expat in India
For any foreign expatriate working in India, the salary is deemed as earned in India if they are paid for services rendered in India. This is based on Section 9(1) (ii) of the Indian Income Tax Act. This rule is applicable irrespective of the resident status … Read more