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Complex provisions. Clear explanations.
9 explainers
Demo articlesYou hold a proper tax invoice, you paid the supplier in full, and the goods are in your warehouse. Why might your input tax credit still be challenged?
A valid invoice is only one of several conditions for claiming ITC. Credit also depends on what your supplier reports and pays.
Your company books an expense for a micro supplier in March but pays in May. Can you still deduct it in the year you booked it?
Late payments to micro and small enterprises can push your tax deduction into a later year — even though the expense is genuine.
Your company pays a US vendor for a software subscription. Do you always need to deduct tax before remitting the money?
Withholding applies only to sums chargeable to tax in India. The answer turns on the nature of the payment and the tax treaty.
Your company sponsors a dealer’s family holiday as a sales incentive. Does anyone need to deduct tax?
Benefits and perquisites given in the course of business can trigger tax deduction at source — even when no cash changes hands.
A resident Indian individual wants to invest USD 50,000 in a Delaware startup founded by a former colleague. What framework applies?
Most individual overseas investments are permitted under the Liberalised Remittance Scheme — but there are limits, conditions and reporting.
A founder-director needs a short-term personal loan. The company has surplus cash. What stands in the way?
Section 185 restricts loans to directors and connected persons, with narrow exceptions and a special-resolution route for some cases.
An Indian subsidiary pays its parent 3% of turnover for “group support services”. What will a tax officer want to see?
Intra-group service charges are a frequent transfer pricing issue. The first question is often whether the service was rendered at all.
Your auditor has asked for evidence that the “edit log” in your accounting system was switched on all year. Why does it matter?
Companies must use accounting software that records every change to books of account. Auditors now report on whether this was done.
A D2C brand collects names, phone numbers and addresses through its website. What does the Digital Personal Data Protection Act change?
The DPDP Act applies to digital personal data regardless of company size. Consent, purpose limitation and security obligations follow.