FAQ’s on section 194S

The Finance Act, 2022 had inserted a new section 194S to the Income-tax Act, 1961 providing for deduction of tax at source (TDS) on transfer of a virtual digital asset (VDA). TDS under section 194S is applicable with effect from 1st July 2022. Provisions of Section 194S in brief: Particulars TDS u/s 194S Deductor A person, who is responsible for

FAQ’s on section 194R

The Finance Act, 2022 had inserted a new section 194R to the Income-tax Act, 1961 providing for deduction of tax at source (TDS) on benefit or perquisite in respect of business or profession. TDS under section 194R is applicable with effect from 1st July 2022. The text of Section 194R has been produced hereunder: Section 194R: Deduction of tax on

Article on ODI

Overseas Direct Investment means investment made outside India by an Indian either under the automatic route or the approval route or by subscription to the memorandum of a foreign entity or by way of contribution to the capital either by the stock exchange or private placement, by setting up Joint Venture (JV) or a Wholly Owned Subsidiary (WOS). In other

FOREIGN LIABILITIES AND ASSET (FLA) RETURN

FLA (Foreign Liabilities and Asset) return is a return filed with RBI on annual basis depending on the applicability of certain provisions of Foreign Exchange Management Act, 1999 (FEMA) on below entities: Any entity which has received Foreign Direct Investment (FDI) whether in terms of shares and/or External Commercial Borrowing (ECB); and/ or Any entity which has invested in any

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