Now a days, all assessments and appeals are being become faceless. In our earlier articles, we have discussed the faceless assessment. In this article, we will discuss faceless appeals. As we know that Section 250 of the income tax act relates to CIT appeals now in this section few subsections has been added which deals … Read more
The income tax department may send you the notice under several provisions of income tax and sometimes we, as a professional will also face the problem to response such notices. In case, you also have received the notice from the department then there is no need to get panic because when you had to file … Read more
Introduction It was observed by the government that under income tax assessments, many assessees are being harassed from tax officials for their own benefits. Hence, to provide greater transparency, efficiency, and accountability, our government has removed the interface between assessing and assessee officers by introducing faceless tax assessments. In Simple language, now under the e-assessment … Read more
International taxation is all about taxation in other countries. It is best regarded as the body of legal provisions of different countries that covers the tax aspects of cross-border transactions. Another thing is that it includes both direct and indirect taxes. In other words, we can say that it is the study of tax beyond … Read more
Earlier setting up of business in India was very challenging due to a lot of multi compliances like separate registration for service tax, sales tax, excise but now it becomes quite easy. In this article, we will understand how a foreign company or entity may start a business in India. So before you start this … Read more
Introduction to EXIM policy Indian EXIM Policy, (Short of Export-Import Policy ) is a Foreign trade policy sets the guidelines for the export and import of the trade in the country by the DGFT ( Director General of Foreign Trade), The Department which is basically responsible for the regulation, acceleration and providing incentives on the … Read more
It is the investment done by the individual or firm of one country in the firm or company of another country. It is generally done when a business entity involved in the international business of goods or services or any type of outsourcing from another country. It is different from the portfolio investment in which … Read more
International taxation is the determination of tax liability on the person subject to residency and tax laws of different countries and also the consideration of the tax liability as per the taxation laws of India in case any type of transaction is done in India. Generally, the government limits the scope of income taxation just … Read more
Meaning of MLI:- Multilateral Instrument is designed to prevent the BEPS (Basic Erosion and Profit Shifting). It can be said as MLI is a formal term with the aim to prevent the Basic Erosion and Profit Shifting UNDER International Taxation. Functioning of MLI MLI implement the TAX Treaty measures that were formed through the BEPS … Read more
In 1991, the New Economic Policy (NEP) is launched, one of the important parts of this policy is globalization by which economies of various countries came across for trade. Through globalization came into effect various cross border transactions has incurred. Now by globalization and liberalization, the whole world becomes a new village. Integration between economies … Read more