India: Corporate Tax

Section 115-O of the Income-tax Act, 1961 (‘IT Act 1961’) states that in addition to the tax payable on the income earned in the hands of a domestic company, an additional income-tax shall be levied upon such company...

The Delhi High Court[1] (‘Delhi HC’) recently reaffirmed the settled legal principle that, in the absence of a specific statutory provision under the IT Act 1961, the income of a company cannot be taxed in the hands...

India's new Income Tax Act will fundamentally transform how income is assessed starting from Financial Year 2026-27, replacing the decades-old Income Tax Act of 1961. Understanding the transitional provisions and how proceedings will be handled across the old and new regimes is crucial for taxpayers and professionals navigating this historic legislative change.

Starting a business as a sole proprietor in India requires navigating various regulatory obligations and obtaining specific licenses based on your business type, location, and scale. While the structure itself is simple, understanding which registrations are mandatory—from GST and shop establishment licenses to sector-specific approvals—is crucial for legal operations and avoiding penalties.

For most businesses, tax risk often shows up too late. In many cases, owners discover these loopholes during an audit, through a penalty notice, or when facing a blocked refund.

One Person Companies have become a practical choice for solo entrepreneurs who want the benefit of a corporate structure without bringing in multiple shareholders.

Cross-border joint ventures (JVs) have become a pivotal strategy for international businesses aiming to penetrate the Indian market.

Q3 of FY 2023-24 | October 2023 The Colombian Tax Authority has issued new rulings on Significant Economic Presence (SEP), stating that non-residents with SEP in Colombia must pay either a 10% withholding tax or a 3% annual income tax on their gross income.

All organisations should be aware of the latest tax policies made by the government; they should be informed about all the policies. And the organisation should follow this policy to avoid losses and improve its tax strategy