RSM India

Tax - International and Indian

Helping with tax challenges, wherever you are in the world. 

If you’re a global business juggling the complex and diverse tax rules of multiple markets, it can be hard to stay on top. RSM can help solve your tax challenges. We offer in-depth, up-to-date knowledge of the relevant local rules and regulations. Through collaboration with our tax professionals across all relevant jurisdictions, we are able to provide you with seamless advisory and compliance solutions in International and Indian tax.

Broadly, in India, our service areas in tax are as under:


The Indian tax system is well structured, wherein the power to levy taxes are clearly demarcated by the constitution between the Central Government, the State Governments and local bodies. The taxes in India can broadly be classified into Direct tax and Indirect tax. Some of the major taxes levied by the Central Government are as classified below:

  • Direct tax: 
    • Income tax
    • Wealth tax
  •  Indirect tax:
    • Customs duties
    • Central excise
    • Service tax


Also, in order to make the Indian taxation system more dynamic in terms of effective administration, efficient tax collection and to reduce the cascading effect of taxes, it is proposed to introduce the Goods and Services Tax (GST). This will be implemented in the near future and would be a comprehensive tax on the supply of goods and services.

We provide practical, commercially-focused and socially responsible solutions for multi-national companies, Indian companies, expatriates, non-Resident and resident Indians, etc. In this endeavour, we are immensely helped by our extensive knowledge of taxation practices and procedures followed worldwide and our regular interaction with the concerned tax authorities.

We are a leading service provider in matters of direct and indirect tax covering the whole gamut of Indian and international tax, transfer pricing regulations, service tax regulations, value added tax regulations, central excise regulations, GST transition etc.  We can also assist you with specialized services in areas of setting up of business in India and overseas, corporate business structuring, transaction advisory etc.

How we can help

  • Provision of effective taxation strategy for corporates and non corporates by considering and application of various tax holidays and benefits under the existing taxation regulations
  • Advising on taxation and exchange control regulations for investments or setting up of business in India and abroad
  • Evaluating the existing compensation structure of employees and suggesting tax efficient structure
  • Advisory on withholding tax, assistance in seeking advance rulings on international tax issues and representation before tax and judicial authorities in assessment and appeals
  • Handling and representation in income tax Search, Seizure and Survey cases
  • Expatriate taxation advisory services
  • Advising on corporate structuring and transaction advisory services with a view to optimize tax incidence
  • Assistance and training for compliance and transition to Goods and Services Tax (GST)


Tax services - Advantage RSM

  • RSM is the world’s seventh largest network of audit, tax and consulting firms and the sixth largest global provider of tax services by revenue
  • RSM in India is consistently ranked amongst India’s top six accounting and consulting groups* (International Accounting Bulletin, September 2015)
  • Extensive experience in advisory, tax and accounting matters across various sectors
  • Dedicated team of highly qualified, experienced and trained professionals

* Please visit our legal section (insert hyperlink) to know about the legal structure of the RSM network and RSM in India.

Pharma and Lifesciences Industry – Certain Tax, Regulatory and Governance Aspects

7 February 2019
The pharmaceutical industry in India ranks 3rd in the world in terms of volume and 14th in terms of value according to Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers. Indian drugs are exported to more than 200 countries in the world, with the U.S. as the key market.

White Paper - Whether non-resident foreign companies are required to file Return of Income in India

22 August 2018
Taxation of non-residents has been a vexed issue for a long time. Applicability of tax laws of different countries makes it difficult to ascertain taxability of non-residents who have global presence.

Transfer Pricing Regulations in India - In Sync with the World

24 April 2018
Multi-national enterprises (MNE) now represent a large proportion of global GDP. Also, intra-firm trade represents a growing proportion of overall trade.

Newsflash - US Tax Reforms Highlights - At a Glance

13 December 2017
We are pleased to attach our Newsflash on “The US Tax Cuts & Jobs Law - Certain Key Aspects” for your reference and perusal. The US economy is the largest economy in the world and India’s largest trade partner.

Newsflash: CBDT clarifies the scope of prima facie adjustments by tax authorities - Based on receipt / income appearing in Form 26AS / Form 16A / Form 16

27 November 2017
Section 143 (1) of the Income Tax Act, 1961 (‘the Act’) provides for prima facie adjustments to a return of income filed by the assessee, while processing the return of income. The ambit of prima facie adjustment was expanded by the Finance Act, 2016.

Newsflash - DTAA with Hong Kong Soon - Union Cabinet gives its approval

27 November 2017
On 10th November 2017, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi gave its approval for entering into a Double Taxation Avoidance Agreement (DTAA) with Hong Kong.

Newsflash - ITAT Deletes Sec. 271G Transfer Pricing Penalty for diamond merchants

16 November 2017
The Mumbai ITAT in the case of ACIT V/s M/S D.

Newsflash: DTAA with Hong Kong Soon - Union Cabinet gives its approval

16 November 2017
On 10th November 2017, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi gave its approval for entering into a Double Taxation Avoidance Agreement (DTAA) with Hong Kong.

Newsflash - Certain clauses of ICDS found contrary to the binding judicial precedents and thus, held unconstitutional - Delhi High Court

13 November 2017
In a path breaking judgment, the Hon’ble Delhi High Court on 8 November 2017 has ruled that certain clauses of various Income Computation and Disclosure Standards (ICDS) are unconstitutional and also suffers from the vice of excessive delegation.

Newsflash - Income Tax - Final Rules with respect to Country-by-Country reporting and furnishing of master file

13 November 2017
We are pleased to release our newsflash on the captioned subject. Background:

Newsflash - Income Tax - Regional Headquarter of Foreign Multinationals in India would not create POEM exposure where activities are of routine nature

13 November 2017
The new tax residency rule for foreign companies based on the concept of Place of Effective Management (‘PoEM’) has been effective since 1st April, 2017, i.e., Assessment Year 2017-18 onwards.

Newsflash: Government withdraws PMLA Notification relating to Gems and Jewellery sector with immediate effect

13 November 2017
The Prevention of Money-laundering Act, 2002 (PMLA) aimed at combating money laundering in India came into force with effect from 1st July 2005. Under the PMLA, the reporting entities inter-alia, included dealer in precious metals, precious stones and other high value goods, as may be notified by the Central Government.

Newsflash - Draft Rules with respect to Country-by-Country reporting and furnishing of master file

13 November 2017
Under the Finance Act 2016, the Central Board of Direct Taxes (CBDT) had inserted section 286 in the Income Tax Act, 1961 to implement the recommendation of 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-Country Reporting”, identified under the OECD Base Erosion and Profit Shifting (BEPS) Project.

Newsflash: Form 67 enabled on Income tax e-filing portal for claiming foreign tax credit Relief

4 October 2017
A Resident taxpayer (Individual, Companies, Partnership firms, etc.) who have already paid tax in another country on amounts of foreign income and gains, may claim Foreign Tax Credit Relief in India to avoid being taxed twice on the same income.

Newsflash - CBDT Draft Notification on Self-reporting of Estimated Income, Tax Liability and Payment of Taxes

26 September 2017
In one of the recent developments, it is proposed by the Central Board of Direct Taxes (CBDT) (released for public comments) to create a mechanism for self-reporting of estimates of current income, tax payments and advance tax liability by certain taxpayers viz. companies and tax audit cases, on voluntary compliance basis.

Newsflash- Coverage of Gems and Jewellery sector under Prevention of Money Laundering Act, 2002

9 September 2017
The Prevention of Money-laundering Act, 2002 (PMLA) aimed at combating money laundering in India with three main objectives – to prevent and control money laundering, to confiscate and seize the property obtained from laundered money, and to deal with any other issue connected with money laundering in India, came into force with effect from  1st July, 2005.

Newsflash- Extension in Due date of GST returns for the period July and August 2017

11 August 2017
We are pleased to release our newsflash on the captioned subject. The Government has notified the extended due date for furnishing the Goods and Services Tax (GST) returns for July 2017 and August 2017 under GST. We trust you will find the same useful.

Clarifications on computation of book profit for the purpose of levy of MAT under section 115JB of the Income-tax Act for Ind AS compliant companies

28 July 2017
The Finance Act, 2017 introduced tax provisions under Minimum Alternate Tax (MAT) provisions for Indian Accounting Standards (Ind AS) compliant companies. The provisions resulted in most Ind AS adjustments, including transition impact, being taxed under MAT provisions.

No TDS on GST component comprised in the payments made to residents - RSM India Newsflash

21 July 2017
We are pleased to release our newsflash on the captioned subject.

Newsflash - The OECD's Multilateral Instrument and its Impact on Indian Tax Treaties

20 July 2017
In October 2015, the Organization for Economic Co-operation and Development (‘OECD’) had issued the final Base Erosion and Profit Shifting (BEPS) reports and released  multilateral instrument (MLI) in November 2016 to swiftly implement treaty measures on hybrid mismatch arrangements, treaty abuse, permanent establishment, and mutual agreement procedures by modifyin

Newsflash: Income Tax - Secondary Adjustments in Transfer Pricing

20 July 2017
Recently, the Central Board of Direct Taxes (CBDT) has issued rules to support the implementation of Secondary Adjustments in Transfer Pricing by prescribing the time limit for repatriation and method for computing interest on excess money.

Newsflash: Supreme Court Judgement - Section 40(a) (ia) of the IT Act covers not only those cases where the amount is payable but also when it is paid for disallowance purposes

20 July 2017
Section 40(a)(ia) of the Income-tax Act, 1961 provides that any specified payment (interest, commission, etc.) to a resident from which tax is deductible at source will not be allowable as a deduction if (a) the tax had not been deducted or (b) after deduction, had not been paid in time as provided therein.

Newsflash: Final Rules notified for valuation of unquoted equity share for the purposes of Section 56 and Section 50CA of the IT Act

19 July 2017
Recently, the Finance Act, 2017 inserted Section 56(2) (x) so as to widen the scope of taxability of receipt of sum of money or property without/inadequate consideration.

Overview of GST implications on Developers and Contractors - Concept Note

16 June 2017
The key highlights of this Concept Note on Overview of GST implications on Developers and Contractors include:

Are You GST Ready?

1 June 2017
Help Desk: For any query or assistance related to GST, reach out to us at  GSThelpdesk@rsmindia.in .

Newsflash - Certain Significant Amendments Made to the Finance Bill, 2017

28 March 2017
The object of the Finance Bill (‘the Bill’), as you know, is to give effect to the financial proposals of the Central Government for the financial year 2017-18. The Bill was introduced in the Lok Sabha on 1 February 2017 and it was passed by the Lok Sabha recently on 22 March 2017 .

Newsflash - Foreign companies having turnover of Rs. 50 crore or less kept outside the scope of POEM

24 February 2017
Dear Sir / Madam,   We are pleased to share with you our newsflash on the captioned subject.  

Newsflash - Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016

20 January 2017
The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (Scheme) provides an opportunity to persons having undisclosed income in the form of cash or deposit in an account maintained with a specified entity to declare such income and pay tax, surcharge and  penalty totaling in all to 49.9 per cent.

Newsflash - Key changes in the new protocol to amend India-Singapore tax treaty

5 January 2017
With the revision to the India-Mauritius tax treaty to phase out capital gains tax exemption, it was only a matter of time before the Government turned its attention to the India- Singapore tax treaty. On 30th December 2016, India and Singapore signed a Third Protocol to amend their bilateral tax treaty. Two changes which stand out are:

Newsflash - Clarifications on Direct Tax Dispute Resolution Scheme, 2016

29 December 2016
The Direct Tax Dispute Resolution Scheme, 2016, (‘Scheme’)  which provides an opportunity for dispute settlement, can be availed up to 31st December, 2016.  The Central Board of Direct Taxes (CBDT)  issued its first set of clarification with regards to the Scheme on 12 September 2016 ( vide Circular no. 33 of 2016)

Newsflash - Clarifications on Indirect Transfer of Capital Asset under the Income-tax Act, 1961

29 December 2016
Under Section 9 of the Income-tax Act, 1961 (the IT Act), income arising from indirect transfer of assets situated in India is deemed to accrue or arise in India.

Newsflash - Income Tax - SC decision - Stage of deduction of sec10A would be while computing the gross total income of the eligible undertaking

23 December 2016
The Supreme Court (SC) has finally cleared the air about the true effect of the    provisions of section 10A of the Income Tax Act, 1961. Earlier there was a lot of  confusion as to whether amended section 10A is a deduction section or an exemption  section.

Newsflash - Key Aspects of Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016

23 December 2016
Post demonetization of the currency on 8 November 2016, a scheme namely, ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016’ (‘the Scheme) was introduced by the Taxation Laws (Second Amendment) Act, 2016 which came into force on 15 December, 2016.

Newsflash: Ind AS Transition Facilitation Group (ITFG) issues Clarifications – Bulletin 6

6 December 2016
We summarise the ICAI’s ITFG clarifications on Ind AS applicability Ind AS Transition Facilitation Group (ITFG) formed by ICAI has issued Bulletin 6 that provides the following clarifications on Ind AS applicability:

Newsflash On The New Taxation Window To Declare Undisclosed Income In The Form of Cash Deposits

6 December 2016
With effect from 9th November, 2016, bank notes of existing series of denomination of the value of Rs. 500 and Rs. 1000 ceased to be legal tender as part of the monetization plan of the government directed to curb black money in the economy.

Newsflash Income Tax Rate of depreciation brought down to 40 percent for all assessees

23 November 2016
Recently, the CBDT has made changes in the Income Tax Rules to restrict the rate of depreciation maximum up to 40% for block of assets which are currently eligible for depreciation at a higher rate ( 50%, 60%, 80%, 100%).

Newsflash - Revised ICDS notified-Applicable from AY 2017-18 onwards

12 October 2016
The Central Government had notified 10 Income Computation and Disclosure Standards (‘ICDS”) to be applicable to all assessees following mercantile system of accounting for computing business income and income from other sources from AY 2016-17 and onwards.

Newsflash - Electronic filing of MVAT Return in new automation processes and changes in procedures

30 August 2016
On 25th February 2016 the Maharashtra Sales Tax Department (hereinafter referred to as "MSTD") had issued Trade Circular No 7 T of 2016 which explains the new automation process of filing of returns for the periods from April 2016.

Newsflash - Stand-by arrangement for issuance of e-CST declarations in State of Maharashtra

30 August 2016
The Maharashtra Sales Tax Department (MSTD) is in the process of implementing SAP based New Automation System. Retums for periods after 1 April 2016, under Maharashtra Value Added Tax Act (MVAT) and Central Sales Tax Act (CST) will be started in the new automation system in due course.

Newsflash - Fourth set of clarifications on the Income Declaration Scheme 2016

22 August 2016
The Income Declaration Scheme, 2016 came into effect on 1st June, 2016. So far the Central Board of Direct Taxes has issued three sets of FAQs vide Circular Nos. 17, 24, 25 & 27 of 2016. In order to address further queries received from the public relating to the Scheme, CBDT has further issued fourth set of clarifications on 18 August 2016.

Newsflash – FAQs on Goods and Services Tax

9 August 2016
The newsflash summarises certain frequently asked questions (FAQs) on the Goods and Services Tax (GST) law.

White Paper "The Direct Tax Dispute Resolution Scheme, 2016- An opportunity to resolve pending litigation"

8 August 2016
Rising tax dispute has been a matter of serious concern for taxpayers. The Direct Tax Dispute Resolution Scheme (‘the Scheme’) which has  been introduced as a part of the Finance Act, 2016 provides an opportunity to taxpayers to settle their pending tax disputes at the level of the First Appellate Authority i.e.

Transfer Pricing Regulations in India – In harmony with the world

21 July 2016
The Indian economy is estimated to have grown at 7.6% in Financial Year 2015-16 and is expected to grow at 7% to 7.75% in FY 2016-17, making it the fastest growing major economy in the world.

Newsflash - Income Tax - ICDS deferred by one year, applicable from FY 2016-17 (i.e. AY 2017-18)

7 July 2016
We are pleased to share with you the newsflash on the captioned subject.

NF-CBDT Notifies Rules regarding "Indirect Transfer" Provisions-Fair Market Value & Reporting Requirement for Indian concern

6 July 2016
Presently, any capital gains arising to a non-resident on Indirect transfer of shares is deemed to accrue or arise in India on account of ‘retrospective amendment’ carried out through Finance Act, 2012.

Newsflash: Third set of clarifications on the Income Declaration Scheme, 2016

5 July 2016
The CBDT has since received further queries from stakeholders seeking clarifications about various provisions of the Income Declaration Scheme. The issues raised have been examined and the third set of 11 FAQs have been issued on 30 June 2016 vide Circular No.25 of 2016.  

Newsflash: CBDT notifies final Foreign Tax Credit Rules on 27 June 2016

5 July 2016
Recently, the CBDT vide its Notification No. 54 of 2016 dated 27.06.2016 notified final foreign tax credit rules by introducing new Income Tax Rule 128 and new Form 67.  In this newsflash, we have provided an overview of the final Foreign Tax Credit rules for your ready reference and perusal.

NF:Relief from higher withholding tax under section 206AA to a non-resident-new tax rule prescribes alternative documents to PAN

5 July 2016
Recently, the Central Board of Direct Taxes (CBDT) vide its Notification dated 24 June 2016 introduced a new rule 37BC to the Income Tax Rules, 1962 requiring a non-resident to furnish alternative documents to PAN so that the higher withholding tax under section 206AA shall not be applicable.

Newsflash - Second set of clarifications on the Income Declaration Scheme 2016 - CBDT Circular No. 24 of 2016

5 July 2016
The Income Declaration Scheme, 2016 (the Scheme’) incorporated as Chapter IX of the Finance Act, 2016 provides an opportunity to persons who have not paid full taxes in the past to come forward and declare the undisclosed income and pay tax, surcharge and penalty totaling in all 45% of such undisclosed income declared.

Newsflash – Indirect Taxes Exemptions - Krishi Kalyan Cess and ST exemption to Ocean Freight Services

27 June 2016
CBEC vide Notification No. 35/2016- Service Tax dated 23 June 2016 has granted exemption from levy of KKC on the invoices which were issued before 1 June 2016, subject to condition that the provision of service has been completed before the 1 June 2016.

Newsflash - Model GST Law in India - Key Highlights

27 June 2016
The indirect taxes comprising of additional countervailing customs duty, excise duty, service tax, state level VAT laws and CST which are proposed to be subsumed within the GST account for 15% to 25% of the turnover for most businesses.

White Paper - Disallowance us 14A - Expenditure in respect of Exempt Income - Recent Amendment to Rule 8D - June 2016

13 June 2016
Recently, the Central Board of Direct Taxes (CBDT) vide official gazette dated 2 June 2016 notified the amendment made to Rule 8D of the Income Tax Rules 1962 (IT Rules).  One of the most litigative issues in direct taxation faced by business entities pertains to disallowances made under section14A of the Income Tax Act 1961 (IT Act) read with

Newsflash - Newsflash Draft Rules for Determination of Fair Market Value and Reporting Requirement - Indirect Transfer of Shares

30 May 2016
Post the retrospective amendment introduced by the Finance Act, 2012, India taxes the capital gains arising to a non-resident on transfer of shares of a foreign company if such shares derives its value substantially from the assets located in India ( i.e.  the fair market value (FMV) of  assets located in India exceeds Rs.

Newsflash - India and Mauritius sign protocol amending the tax treaty

11 May 2016
The Protocol for amendment of the Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains between India and Mauritius was signed by both countries today at Port Louis, Mauritius. The key features of the Protocol are summarized in this newsflash.

Newsflash - Certain significant amendments made to the Finance Bill, 2016

11 May 2016
The Finance Bill, 2016 was introduced in the Lok Sabha on 29 February 2016 and it was passed by the Lok Sabha recently on 5th May 2016. We are pleased to release our newsflash which covers some of the significant amendments made during the passage of the Finance Bill in the Lok Sabha

RSM India - Compliance Calendar 2016-17

26 April 2016
RSM India is pleased to upload the Direct Taxes and Service Tax Compliance Calendar for the year 2016-17. The compliance calendar covers the most relevant due dates, applicable forms and other compliances applicable to Companies, Partnership firms / LLPs and Individuals / HUFs.

Newsflash - Overview of the Draft Foreign Credit Rules released by CBDT

22 April 2016
For companies and other business entities having cross-border transactions, wherein they are eligible to claim credit of foreign tax against their taxable income in India, there did not exist a mechanism for availment of such credit.

Implications on CSR spending of the proposed amendment to the definition of Foreign Source under the FCRA Regulation

12 April 2016
One of the major proposals in the Finance Bill 2016 pertain to amendment to be brought in the Foreign Contribution Regulations Act, 2010 (‘FCRA’) by amending the definition of ‘foreign source.’ Pursuant to the proposed change, which if legislated would facilitate smoother movement of funds by the Indian companies (which are foreign owned), which are required to man

THE NEW AXIS OF FINANCIAL REPORTING - IND AS AND ICDS

4 April 2016
The publication 'The New Axis of Financial Reporting - Ind AS and ICDS' is prepared by RSM Astute Consulting Pvt. Ltd. (the Indian member of RSM) to provide readers a broad understanding of applicability of Ind AS and Income Computation and Disclosure Standards (ICDS) and some key differences with IFRS and Indian Standards.

Newsflash-Maharashtra State Budget 2016-17 - Key Highlights

23 March 2016
On 18 March 2016 Maharashtra Finance Minister has presented the State budget for the year 2016-17. The changes effected in various regulations shall be effective from a date to be notified unless otherwise specified . This newsflash brings to you certain key aspects of the Maharashtra State Budget 2016-17.

White Paper - Base Erosion and Profit Shifting

23 March 2016
The integration of national economies and market has increased substantially in recent years putting a strain on the international taxes, which were devised many years ago.

Budget buzz on Dalal Street: Investors fear changes in STT, DDT, capital gains tax

17 February 2016
Views of Dr. Suresh Surana (Founder, RSM Astute Consulting) Government is committed to reducing litigation and has recently taken certain measures, such as setting up of tax simplification committee and acceptance of the judicial rulings in the case of Vodafone/Shell, etc. 

Budget Expectations 2016 – Corporate Taxes

17 February 2016
Article by Dr. Suresh Surana (Founder, RSM Astute Consulting)  

Non-filing of income tax return invites penalty

17 February 2016
In today’s busy life, many people may fail to file income tax returns. However, it is imperative that every person who has taxable income above the basic exemption files tax return in time.

This is how you can save tax this year

17 February 2016
With the end of financial year just around the corner, it is time to save certain amount of taxes by investing in prescribed instruments which are eligible for deductions. Chapter VI-A of the Income-tax Act primarily provides for deduction on certain payments and deduction on certain incomes.

Newsflash – Significant Highlights of Draft Recommendations of Income Tax Simplification Committee

28 January 2016
On 27 October, 2015, the Government of India had constituted a 10-member Committee under the Chairmanship of Justice R.V Easwar, former Judge of the Delhi High Court with a view to simplify the provisions of the Income Tax Act, 1961.

Newsflash – Startup Revolution in India

28 January 2016
Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design.

Taxpayers should not worry about the tighter PAN norms

20 January 2016
The income-tax department, recently, changed the regulations that require individuals to quote their permanent account number (PAN) for certain high value transactions. The rules, applicable from 1 January 2016, rationalises the earlier law and benefits taxpayers in many ways.   This write-up includes Dr. Suresh Surana’s views on the same.

Why this POEM spooks corporate India

20 January 2016
The Finance Act, 2015, amended the provisions of the provisions of income tax act relating to determination of residence of a company. According to the amended provisions, a company would be said to be resident in India in any previous year, if it is an Indian company, or its Place of Effective Management (POEM) in that year is in India.

‘Myths and misunderstandings – Wrong perceptions regarding gift tax on residential properties.’

18 January 2016
There is a myth that there is no Gift Tax in India. Although there is no separate Gift Tax Act prevailing in India, the receiver of the gift may be subject to tax on the amount of the gift received under the Income Tax Act, 1961. However, there are certain exemptions by which the receiver shall be exempt from the applicable tax without any upper limit.

Why compiling tax-saving investment proofs is important’

18 January 2016
Employees are asked to submit the investment proofs towards the end of the financial year by the employers to verify and calculate the actual income tax liability. Submission of timely accurate details of investment to the employer makes sure that no heavy TDS is made in the later part of the financial year

Are you an HNI? here are 5 ways to save your tax

8 January 2016
In taxation parlance, pursuant to the recent Finance Act 2015 which has been legislated, 2 per cent additional surcharge has been proposed on individuals having a taxable income of Rs 1 crore (Rs 10 million) and above. Therefore, the individuals falling under this category of tax payers, can be perceived as the high net worth investors, or HNIs, class.

Newsflash - Draft Guiding Principles for Determination of 'Place of Effective Management' of a Company

30 December 2015
Draft guiding principles for determination of place of effective management of a company; place of effective management, foreign company will be treated as resident in India if its place of effective management; Location of Head Office; Use of modern technology in conducting meeting.

No Form 5CA and Form 15CB required in case of payment for import - CBDT Notification dated 16th December 2015

23 December 2015
Currently, a person making foreign remittance has to obtain a certificate from a Chartered Accountant in Form 15CB and electronically furnish an undertaking in a Form 15CA.

India - US Cross Border Business - A Guide to Indian Tax & Regulatory Aspects

23 November 2015
India is considered to be the fastest growing economy in the world, with an estimated growth rate of 7.3% for the current financial year 2015-16 inspite of uncertain global outlook.

Newsflash - Certain amendments in MVAT Act, 2002

17 November 2015
Maharashtra VAT Department has issued the Notification No VAT. 1515/ CR-81/Taxation-1 dated 5 November 2015 for increase in Interest Rate for delay of VAT payment with effect from 1 December 2015. Further, Maharashtra VAT Department has issued Trade Circular No.

Transfer pricing - CBDT notifies rules for range & multiple year data; sets range at 35th-65th percentile

10 November 2015
Analysis of Final Rules issued by CBDT on ‘Range Concept’ & ‘Multiple year data’

UK - OECD delivers game changing tax measures

4 November 2015
UK - OECD delivers game changing tax measures

Tax implications of buying property abroad

3 November 2015
Indians nowadays are increasingly buying properties overseas, particularly in London, New York, Singapore and Dubai. It is critical for them to study foreign exchange regulations and tax provisions of the relevant country as well as India before they make buying decisions.

The Global Real Economy - analysis and business insights

22 October 2015
The Global Real Economy is a new bi-annual e-publication, which includes economic and other business insights to reflect the RSM network’s global reach and its ability to provide world-class audit, tax and consulting services to leaders of entrepreneurial, growth-focused companies around the world.

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