Our collection of resources based on what we have learned on the ground
Resources
Q&A
What is a Permanent Account Number in India?
- January 2013
- Free Access
Permanent Account Number (PAN) is a 10-digit alphanumeric code, printed on an identification card, for the Income Tax Department. Companies in India are required to obtain a PAN during the establishment process in order to file an income tax return, ...
Q&A
How is salary defined in Indian tax law?
- January 2013
- Free Access
Salary is defined by Income Tax Act to include: Wages Pensions and annuities Gratuities Advance of salary Any fee, commission, perquisites, or profits in lieu of or in addition to salary or wages Any encashment of leave salary Any amount of ...
Q&A
How will an income qualify as salary in India?
- January 2013
- Free Access
The following conditions must be met for an income to be qualified as salary in India: There must be an employer-employee relationship between the payer and receiver of income; Salary income must be real and there must be an intention to pay and ...
Q&A
How will tax deductions affect enterprises in India?
- January 2013
- Free Access
All entities in India – including foreign representative offices and Indian setups, such as wholly-owned subsidiaries – are required to make tax deductions at source on employees’ salaries on behalf of the Income Tax Department. &n...
Q&A
Is there tax deduction when payments of withholding tax are paid to non-resident...
- January 2013
- Free Access
The Income Tax Act in India provides for deduction of tax at source on payment for withholding tax. These provisions are also applicable in case of payment made to non-residents. The person responsible for payments to non-resident should deduct tax a...
Q&A
How does tax deduction operate in India?
- January 2013
- Free Access
A tax deduction is a changeable amount that can be subtracted, or deducted, from an assessee’s gross income, lowering the amount of tax paid. All entities in India (including foreign representative offices and Indian setups like wholly owned su...
magazine
Der große Steuervergleich für Asien
- December 2012
- Members Access
In einem zunehmend vernetzten Asien blicken viele ausländische Investoren über China hinaus und nutzen ihre Erfahrungen in China, um das Investitionsumfeld in Ländern wie Indien und Vietnam zu verstehen.
magazine
La Guida fiscale per l’Asia
- December 2012
- Members Access
In unâAsia sempre più interconnessa, molti investitori stranieri stanno puntando oltre la Cina, facendo tesoro della loro esperienza nel regno di mezzo, per comprendere le possibilità di investimento in paesi come India e Vietnam.
Q&A
How is the corporate income tax defined in India?
- December 2012
- Free Access
Corporate income tax is levied on the income computed in accordance to the Income Tax Act. For domestic companies, i.e.: companies registered in India, it stands at a rate of 30 percent; for foreign companies, i.e.: companies registered outside of In...
Q&A
What is minimum alternative tax in India?
- December 2012
- Members Access
Minimum alternative tax is the tax, which is applicable to companies that assess at 18.5 percent of the adjusted book profits. The raison d’être of this tax is that to minimize the tax liability, many profitable Indian companies, who are ...
Q&A
How is value-added tax levied in India and how should the filing be prepared?
- December 2012
- Members Access
Value-added tax is only levied on goods, not services. This tax is applicable at each stage of sale and a credit mechanism keeps track paid value-added tax. Other than the tracking, there are 4 tiers of which different rates will be applicable: 1 ...
Q&A
What other tax obligations might be imposed on foreign-invested enterprises in I...
- December 2012
- Members Access
First of all, excise duty is also termed as central value-added tax, which is applicable to goods manufactured in India on the value of goods sold or the maximum retail price of the goods sold, depending on the type of goods in question. It is curren...
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