Taxation of Income from Royalty / FTS in hands of Non-Residents

One of the key and major amendment introduced while passing the Finance Bill, 2023 by Lok Sabha on 24th March 2023 and as approved by Parliament on 27th March post assent of the Hon'ble President on 31st March 2023 is Section 115A. Section 115A is amended to tax non-resident on royalty or Fees for Technical Service at 20% (Plus applicable Cess and surcharge) with effect from 01st April 2023....

04 April

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GST Updates

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CBIC has issued several notifications notifying certain amnesty scheme related to late fee. The summary of the changes made are given in the attached update for your reference....

01 April

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Compliance calendar for the month of April 2023

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We present a compliance calendar for the due dates in the month of April 2023 covering the major due dates in Direct Taxes, Indirect Taxes and Companies Act....

29 March

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Corporate Social Responsibility: Actions required before March 31, 2023

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The Companies for which the Corporate Social Responsibility (CSR) provisions are applicable for the Financial Year 2022-23 are required to spend the 2% of average net profit of preceding three financial years before March 31, 2023. In case, the CSR amount is allocated to any ongoing project, then such amount shall be transferred to a separate bank account within April 30, 2023. The Ministry of Corporate Affairs (MCA) has made it mandatory for all the companies for which CSR provisions were applicable, to file form CSR 2 through online portal of MCA on or before March 31, 2023....

21 March

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Year end requirements FY 2022-2023

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As the financial year 2022-2023 is coming to an end, there are certain statutory requirements which need to be addressed within 31.03.2023. Among them the following points which should be focused on priority basis: 1. Stock verification 2. Income tax related compliance 3. Tax deducted at source 4. Company law related compliance 5. Micro, Small and Medium Enterprises (MSME) related compliance 6. GST Compliances 7. Others Please find attached the detailed note in this regard....

20 March

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Vishnu Daya Newsletter – March 2023

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We are pleased to present our monthly newsletter for the month of March 2023. ...

07 March

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Due Date for Payment of Advance Tax is 15th March 2023 for AY 2023-24

Posted by Vishnu Daya

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This is to bring to your kind attention that the due date for payment of fourth and final instalment of advance tax (100%) for the Financial Year 2022-23 (Assessment Year 2023-24) is 15.03.2023. Kindly take necessary actions to make the payment within the due date. For taxpayers opting for Presumptive Taxation Scheme under section 44AD & 44ADA, 100% advance tax need to be paid on or before 15th March 2023 (4th quarter) Kindly let us know for any help or clarifications in this regard....

07 March

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