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 […]
Mastering India’s GST Regime: Implications for MNCs
As a Global VP of Finance in a multinational corporation (MNC) with subsidiaries in India, you are well aware of the complexities involved in managing the financial operations of a global organization. One of the critical aspects of financial management in India is understanding the Goods and Services Tax (GST) regime. In this article, we […]
Understanding India’s Permanent Establishment (PE) & PoEM Risk
Managing financial operations in India can be a daunting task, particularly for Global VPs of Finance overseeing subsidiaries in the country. India’s complex taxation landscape presents numerous challenges, and two critical considerations stand out: Permanent Establishment (PE) and Place of Effective Management (PoEM). These tax concepts play a pivotal role in determining the tax residency […]
Taxposium 2024: All About Upcoming Tax Event and Conference
Taxposium, the global event for tax professionals, is ready to roll again! Excited to immerse yourself in the vibrant world of tax law and connect with leading industry innovators? You should be because the premier event for tax professionals will unfold at the Walt Disney World Dolphin Resort in Orlando. Since a lot of accounting […]
15 Tax Filing Tips and Strategies for Small Businesses in India
Tax filing in India, without proper planning and insights, can be intimidating. Many small businesses and young entrepreneurs face penalties after tax filing due to limited know-how. Thankfully, that won’t happen to you since we have the best tax filing tips and strategies right here! In this article, Finsmart Accounting – trusted globally for outsourced […]
8 Income Taxation Problems Faced by Businesses in India
Running a business in India is nothing less than a roller coaster ride. But things can get not-so-fun when entrepreneurs reach the income tax curve. Entrepreneurs, especially young ones, are unaware of the hidden complexities within the Indian taxation system and often feel confused when the time to file income tax returns comes around. So, […]
Year End Tax Planning for Global Businesses: 10 Strategies and Tips
As the year calendar draws to close, a lot of businesses operating globally find themselves in a crucial juncture for strategic financial planning. Year-end tax planning strategies can significantly impact operations, allowing businesses to access the fiscal positions in front of competitors. Still, a lot of businesses operating on a global scale are not familiar […]
Top Challenges in Cross-Border Taxation and How to Overcome Them
“What cross-border taxation challenges should I be aware of after expanding my business in India?” In today’s globally connected economy, a lot of businesses are eagerly venturing beyond their home borders. India especially has emerged as a prime destination for lucrative opportunities and the prospect of high profits is drawing international businesses to expand their […]
How to Maximize Tax Deductions in 2024: Expert Advice, Pro Tips and Strategies
Paying taxes in a timely and efficient manner is becoming increasingly important for businesses of all sizes in India. To minimize your liability during tax filing, it’s critical to be aware of deductions and rebates sanctioned by the government. As we approach the tax season 2024, new businesses and individuals are eager to discover ways […]
GST Annual Return for FY 22-23 is due on 31st Dec 2023
GST has been implemented in India from 1st July 2017. Barring a few exceptions, all entities having GST registration are required to file GST annual return, irrespective of business activity, sales or profitability during the return filing period. GST registrants who obtained or held registration anytime during a given financial year are required to file […]