Once you make income in a foreign country, you may be forced to pay tax in the country (the source country) and in India (the residence country) as well. This is the case of a double taxation and it is against such circumstances that the idea of the Foreign Tax Credit (FTC) is of specific … Read more
In the contemporary business environment of trade globally, the key to the seamless operation of business is regulatory compliance. RBI IEDPMS Registration is one of the requirements necessary whether you are importing or exporting to facilitate the way you transact business with a foreign country. This system connects your Import export code (IEC) and your … Read more
The new GST 2.0, which starts on 1 November 2025, proposes a streamlined system of registration- a reform, based upon consistent juridical guidance, taxpayer suffering, and inefficient administration. Courts have repeatedly emphasized over the years that bureaucratic red tape should not hinder a citizen’s right to conduct business under Article 19(1)(g). Why Was This Change … Read more
The introduction of 3 New Indian Passports in UAE for Indian with Security Features, which will contain superior safety measures is one of the historic developments that will be presented by the Indian Embassy in Abu Dhabi and the Consulate General in Dubai among the Indian expatriates in the United Arab Emirates (UAE). This is … Read more
CBDT Extends Audit Report & ITR Filing Dates In welcome news for the taxpayers and professionals alike, the Central Board of Direct Taxes has now officially extended the due date for filing audit reports for F.Y. 2024-25 (A.Y. 2025-26). This extension has come after continuous representations by taxpayers, Chartered Accountants, and trade bodies moved the … Read more
International markets are a great prospect to Indian businesses, however, there is the cost of importing high technology machinery. In order to counter this, the Government of India came up with the EPCG Scheme for Exporters (Export Promotion Capital Goods Scheme). The scheme enables the exporters to bring in capital goods at no customs duty … Read more
The increasing U.S. tariffs have struck Indian exporters in the last couple of years. The export costs to America have increased sharply in the case of industries such as gems, jewelry, textile, and processed goods that have reduced their profitability and competitiveness. As a solution to this, most companies in India are establishing themselves in … Read more
The introduction of new entry/exit policies by the United States to all non-citizens (even the holders of the Green Card) is a significant change in the monitoring of the travel movements. In its latest directive, issued by the U.S. Customs and Border Protection (CBP), biometric tracking will become a compulsory requirement in all airports, land … Read more
The decision to initiate a garage business in the UK as an Indian entrepreneur is a viable and sustainable decision. The automotive repair market in the UK is steadily increasing with millions of vehicles that require regular services, MOT tests as well as repair annually. When you possess technical understanding and the correct way of … Read more
The Madras High Court has made a historic ruling and declared cryptocurrency a property of Indian law. This decision provides virtual assets with a legal identity and has a direct implication on how they should be reported in the ITR filing. It will be a relief and responsibility to those millions of Indians trading or … Read more