Implementation of e-verification scheme-2021

CBDT implements e-verification Scheme-2021 to reconcile mismatches between third party information and ITR filed by Taxpayers CBDT issues Press Release dated 26.02.2024 on Implementation of e-Verification Scheme-2021. This Press Release apprises that: The Income Tax Department has identified certain mismatches between... Read More →

Posted in Direct Tax |

Direct listing of equity shares of unlisted Public Companies incorporated in India on International Exchanges

The Government of India has issued following notifications on 24th January, 2024 namely; Foreign Exchange Management (Non-Debt Instruments) Amendment Rules, 2024 Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024. The aforementioned notifications enable unlisted public Indian companies as... Read More →

Posted in Regulatory |

Investment under Employee Benefit Scheme/ESOP/Sweat Equity Shares

The new regime for Overseas Investment (“Regulations on OI”) as issued by Reserve Bank of India on August 22, 2022 permits resident individuals being employee or a director of an office in India or branch of an overseas entity or... Read More →

Posted in Regulatory |

Utilizing Tax Treaty Advantages for Non-Residents

In the rapidly expanding world of global business, transactions across borders have become the norm. As services are sourced from abroad, payments to non-residents have become routine. Understanding the tax implications of these payments is crucial, and one key aspect... Read More →

Posted in Direct Tax |

Comprehending the Changing Dynamics of Share Valuation Concerning Angel Tax

Background and Introduction Finance Act, 2012 introduced a tax on closely held companies under Section 56(2)(viiib) of the Income Tax Act, 1961 (the Act) when it received consideration from resident investors on issue of shares at a value that exceeded... Read More →

Posted in Direct Tax |