If you’re an Indian resident who owns foreign bank accounts, property, stocks, or business interests, you are required to disclose these foreign assets in your income..
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How to Respond to an Income Tax Notice in India
Receiving a notice from the Income Tax Department can be stressful, but most notices are routine and manageable if handled correctly. Whether it’s for missing documents,..
How to Register a Business Under FEMA Guidelines
Planning to start a business abroad as a resident Indian or invest in a foreign company from India? Or setting up a business in India with..
How to Claim Refund for TDS Deducted by Banks
Banks in India deduct Tax Deducted at Source (TDS) on interest income earned from fixed deposits, recurring deposits, or savings interest (in some cases). If your..
How to Calculate and Pay Advance Tax in India
If your total tax liability exceeds ₹10,000 in a financial year, you are legally required to pay advance tax. Instead of waiting for year-end, the Income Tax..
How to Register for GST in India: A Complete Guide
If you’re doing business in India, chances are you’re required to register for Goods and Services Tax (GST). Whether you’re a trader, service provider, freelancer, e-commerce seller,..
How to File Income Tax Returns Online in India
Filing your Income Tax Return (ITR) is a key part of financial compliance in India. With the government’s push for digital services, individuals and businesses can now..
Who is Required to Deduct TDS Under Indian Law?
Tax Deducted at Source (TDS) is a crucial compliance obligation under Indian income tax law. It ensures advance collection of tax at the time of payment,..
Who is Considered a Resident for Indian Tax Purposes?
In India, your residential status determines whether your global income or only Indian income is taxable. It is based not on citizenship or visa, but on..
Who Should Get Their Books Audited Under the Income Tax Act?
Under the Income Tax Act, 1961, certain taxpayers must get their accounts audited by a Chartered Accountant and submit a Tax Audit Report. This audit requirement,..