Globalization has brought about a boom in the movement of employees to different countries to acquire specialized technical skill and expertise. Over the years, we have seen organizations coming out with various assignment models to send their employees abroad. This trend offers many benefits to employees apart from bolstering their career and creating an international … More Global mobility and evolving changes
Personal taxes, a part of the direct taxes in India, have gone through many major changes throughout the period, since the implementation of the Income tax Act (ACT) in 1922. The Act was given an overhaul in 1961, which stands amended till date. Personal taxes are charged on a slab-rate basis. These slab rates and … More The trend of change in personal tax in recent years
It is a well-known fact that black money exists in both domestic and international markets. The Government of India (GOI) has been keen on reducing its circulation and to bring the same to the tax net. Over the past year, numerous steps have been initiated by the GOI toward this extent. Few of them are … More Government’s renewed efforts to curb circulation of black money
Which form should I use for filing my Income Tax Return (ITR) for the tax year 2014–15 and what all information am I required to declare in it? This is the question I have been asked the most by my friends during filing of returns. The ITR forms issued earlier for the tax year 2014–15 … More Choosing the right tax return form: a prerequisite to keep troubles at bay
These days, many economies in the world are concerned about stashing away of unaccounted money abroad by some citizens. The generation of unaccounted money has been a matter of significant concern, not only from a tax perspective, but also from a security perspective, since it is difficult to track the flow of unaccounted money.