Amendments are being proposed to India’s capital gains tax regime to make it simpler and streamlined.
In India, any profit or gain arising from the sale of a capital asset is deemed as capital gains and is charged to tax under the Income-tax Act, 1961.
India has released a draft common income tax return (ITR) that will merge various existing ITR forms and emphasizes comprehensive disclosure of income and assets.
The deadline for filing Q2 2022-23 TDS in Form 26Q is extended to November 30, 2022 to give more time to taxpayers facing difficulties.
We list India’s key dates in September 2022, which are relevant for taxpayers to fulfill their income tax and goods and services tax (GST) related compliances.
GST e-invoice for B2B transactions for entities in India with turnover of INR 100 million (INR 10 crore) and above to be mandatory from Oct 1.
India’s GST regime continues to seek ways to bring transparency and efficiency to the indirect tax collection system.
We explain the withholding tax regime in India, including threshold levels, tax rates, and DTA treaty rates on payments to resident and non-resident firms.