Section 115BAC of the Finance Act 2020 introduced a choice between the old and new tax regimes for the ITR forms. Assessee who chooses to pay tax in accordance with the new tax regime needs to submit Form 10IE to the ITR department before filing their ITRs. Also, if the assessee choose...
it’s still better to file late than not at all. In this blog post, we’ll go through the step-by-step process of filing income tax returns after the due date.
Learn how to file Income Tax Returns ( ITR ) for FY 2022-23 (AY 2023-24) and FY 2023-24 (AY 2024-25). We covers tax concepts on Salary, interest, Capital Gains, House Property, Business and Profession and GST.
Presents information on the tax consolidation regime in Mexico. Issues related to transitory provisions that contain specific rules for 1999 to 2004; Need for companies to include an addendum stating the amounts of income tax and asset tax that were deferred due to the consolidation in a tax ...
In this article, you will find out what the flat-rate tax regime is, what the requirements are to access it, and what advantages it can bring for your business. What’s in this article? What the flat-rate tax regime is Flat-rate tax regime: How it works Requirements for accessing the...
As of July 1, 2021, there are special rules for digital economy businesses. Nonresident businesses that sell taxable digital products or services and other Canadian entities that are not registered under the normal GST/HST regime are required to register if their revenue exceeds $30,000 CAD over...
Capital Gains Tax is charged when you sell or dispose of an asset which has grown in value and you have made a profit from the sale. Here we look at how the CGT rules work in practice. Under the CGT tax regime, you are only taxed on the amount you have gained, rather than on wha...
The BEPS project also urged governments to require more details about transfer pricing, which governments believed was being used to shift profits from higher-tax jurisdictions to lower-tax ones. These details were to be provided in a so-called master file, which provides an overview of an organ...
Are there any downsides to setting up a company in Cyprus? While there are many benefits to registering your company in Cyprus, you should also be aware of possible drawbacks, which include the following: Tax regime: Companies are only eligible for the 12.5 percent corporate tax rate if they...
Management regime:In Arizona, you can choose to have your LLC managed by its members or a manager — you’ll have to specify in your Articles of Organization. Authority to act on behalf of the business:Who can take action on the business’s behalf? Who can sign checks for the LLC? Who...