TDS & TCS Changes from 1st April 2025
The Budget 2025 has brought significant reforms to the Tax Deduction at Source (TDS) provisions under the Income Tax Act, 1961, aiming to simplify compliance for businesses and individuals. These amendments primarily focus on raising threshold limits and introducing new provisions to enhance efficiency and ease the taxation process. This article provides a clear and […]
Mandatory Secretarial Compliance Checklist for Indian Companies
The corporate ecosystem in India operates within a robust regulatory framework designed to ensure transparency, accountability, and governance. For multinational corporations (MNCs) with subsidiaries in India, navigating the country’s intricate compliance landscape is critical. Adherence to mandatory secretarial compliances not only safeguards organizations from legal and financial penalties but also reinforces stakeholder confidence. This detailed […]
Director’s Roles and Liabilities: A Compliance Perspective
In today’s globalized corporate landscape, the role of a company director has undergone a significant transformation. As multinational corporations (MNCs) expand their operations across borders, their directors must navigate complex regulatory environments and assume a broader range of responsibilities. For MNCs with subsidiaries in India, understanding the intricacies of Indian law is crucial. Directors are […]
Mastering Financial Management in Software Businesses
Is your software business equipped to navigate the complexities of rapid innovation, intense competition, and evolving customer needs? To stay ahead of the curve, effective financial management is crucial. But what does this entail? By prioritizing financial management, software businesses can ensure that their financial processes are streamlined, efficient, and scalable. This, in turn, enables […]
FEMA Guidelines on Inward and Outward Remittances
The regulatory landscape governing financial transactions in India is multifaceted, requiring a nuanced understanding by experienced professionals navigating cross-border business dealings. Among the key statutes in place is the Foreign Exchange Management Act (FEMA), 1999—a vital framework that oversees foreign exchange transactions in India. For Global VPs of Finance in multinational corporations (MNCs) with Indian […]
Managing Finances in Service-Oriented Businesses
Service-oriented businesses, whether they operate in the Knowledge Process Outsourcing (KPO), Business Process Outsourcing (BPO), software, consulting, marketing, travel, manpower services, or any other sector, face unique financial and accounting challenges, especially when the parent company is not based in India, but has a subsidiary there. As financial leaders who understand accounting and finance but […]
Impact of Late TDS Deposits: Penalties and Solutions
In India, Tax Deducted at Source (TDS) is a critical component of the tax compliance framework. The Indian government has mandated that businesses deduct taxes at the source of income and deposit them with the authorities. However, late TDS deposits can result in significant penalties and consequences for businesses. In this article, we will delve […]
Optimizing International Transactions: Reducing Forex Costs
In today’s interconnected global economy, multinational corporations (MNCs) with subsidiaries in India and other countries face a myriad of challenges when it comes to managing international transactions. One of the most significant hurdles is minimizing foreign exchange (forex) costs, which can have a substantial impact on a company’s bottom line. Forex costs can arise from […]
Year-End Accounting Checklist for Businesses
The year-end accounting process is a critical period for businesses, as it involves closing the books, preparing financial statements, and ensuring compliance with regulatory requirements. For multinational corporations (MNCs) with subsidiaries in India, the year-end accounting process can be complex and challenging, given the need to navigate multiple accounting standards, regulatory requirements, and tax laws. […]
The New Invoice Management System (IMS): A Game-Changer for Businesses in India
As a Global VP of Finance in a multinational corporation (MNC) with subsidiaries in India, you are well aware of the complexities and challenges associated with managing invoices and Input Tax Credit (ITC) in the country on GST portal. The current system, which relies heavily on manual processes and paperwork, can be time-consuming, prone to […]