Dear Clients, On 4th May 2021, our team suffered a terrible and an irreparable loss, Mr. Neeraj Bhagat- Managing Partner, PK Chopra & Co. passed away. He was the pillar of the organization and he shall always remain alive in our hearts. We understand this message may be difficult to process, however, courage is the most important of …
1. Reduce Tax Leakage and Fraud Tax leakage and frauds using fake invoices have been an issue that the government is trying to fight even before the GST era. E-invoicing in India is proposed to put an end to this by mandating authorization of every invoice from the government portal. Real time invoice reporting discourages …
India has asked non-resident citizens stranded in the country due to Covid-19 travel restrictions to submit relevant information if they faced double taxation. India’s Central Board of Direct Taxes (CBDT) said it received various requests for “relaxation in determination of residential status for year April 2020 to March 2021” from NRIs or non-resident indians, who …
A Foreign National need not be a resident to start a business in India, and there are several ways to set up a new business in India as: Limited Company A company in India can be incorporated by a Non-Resident Indian as a Private Limited, a Public Limited or a Wholly Owned Subsidiary (WOS) under …
The employee provident fund may be a popular investment scheme for people working in a private sector. This scheme has many other added benefits aside from tax saving. Read through the advantages of Employee Provident Fund Scheme Tax free – The funds in your EPF account is tax free. If you would like to withdraw …
Intangible asset means an asset that is not in physical nature but have monetary value. Eg – Patents, Copyrights, Brand name, Tradenames, Goodwill and Software. As per Para21 of INDAS 38 Intangible Assets, Notified by MCA: An intangible asset should be recognized only when following conditions are satisfied i.e. a. future economic benefits will be earned by …
The Union Budget 2021-22 was presented by the Hon’ble Finance Minister Nirmala Sitharaman on 1st February 2021 in the Parliament. This year’s Budget lays focus on the seven pillars for reviving the economy – Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and …
In response to the large corporate financial scandals like energy firm Enron Corp, telecommunications giant WorldCom and Tyco International, Sarbanes-Oxley Act (SOX) was introduced, in the USA, in year 2002. Purpose of the Act was to improve accuracy of financial reporting by establishing formalized system of checks and balances and protect shareholders/ general public from …
What’s Transfer Pricing? “Transfer price” means the worth charged for transfer for goods or services. However, as far as tax cares , in common parlance, “Transfer pricing: is taken into account as price charges for transfer of products or service between associate entities. For example: Let’s assume a UK computer manufacturer group buys the pc …
Before we get into the small print of how corporate advisory services can help companies, allow us to first understand the meaning of corporate advisory services. Corporate consulting service is that the term used for advice that’s especially given to corporate houses. Such advice is typically given by professional advisors like accountants, company secretaries, law …