While non-resident Indian (NRI) status for seafarers may seem straightforward, recent guidance reveals the importance of income origin and residence in determining tax liability, with some income streams remaining taxable in India despite non-resident status. Many Indian seafarers assume that…
Understanding how residency status affects taxation is essential for international sailors, with recent guidelines and tax tools helping seafarers navigate complex rules on foreign income and filing requirements. For many seafarers, tax becomes confusing the moment they start earning abroad.…
Recent updates to Form 3CD in India are turning tax audits from a procedural formality into dynamic, cross-referenced exercises that require detailed validation of financial records and statutory data, signalling a shift towards proactive tax risk management. India’s tax audit…
Chartered accountancy firms and LLPs have until today to submit their Multipurpose Empanelment Form for the 2026-27 cycle, with no extensions granted, impacting eligibility for public sector bank audit panels. Chartered accountancy firms and limited liability partnerships have until today,…
The Delhi High Court’s recent ruling on Ernst & Young U.S. LLP’s secondment reimbursements signals a potential shift in Indian tax treatment, emphasizing formal control and employment links over economic substance, amid ongoing disputes and uncertainties for multinational companies. India’s…
Companies are urging the GST Council to allow utilisation of unused tax credits from one state to pay liabilities in another, promising greater liquidity and simplified compliance amid current restrictions. Businesses are pressing the GST Council to consider a change…
India’s parliamentary finance committee will scrutinise the future of virtual digital assets on 16 September, amid growing offshore trading activity and regulatory uncertainties, potentially shaping future legislation. India’s parliamentary finance committee is set to press ahead with a fresh review…
Regulators and courts are increasingly holding telecom operators and banks responsible in the fight against growing sim swap fraud, marking a shift towards shared accountability amidst evolving legal standards. SIM swap fraud sits at the intersection of telecoms and digital…
Taxpayers in India must revisit their income estimates ahead of the September 15 deadline to avoid penalties as income streams and tax obligations shift, with many overlooking non-salary income sources like interest and rent. Tuesday, 15 September 2026 is the…
The Employees’ Provident Fund Organisation emphasizes the importance of accurate employment dates, introducing a broader self-service correction system to prevent delays in PF claims and pension eligibility related to outdated or incorrect exit dates. The Employees’ Provident Fund Organisation has…
The Reserve Bank of India’s updated alert list reveals that XM remains unauthorised for forex dealing in India, highlighting the critical need for traders to adhere to official frameworks amid growing warnings about offshore platforms. For an Indian resident looking…
Changes to the default tax regime for HUFs from April 2026 threaten significant forfeits of deductions, complicating compliance and restructuring amidst evolving tax laws. For Hindu Undivided Families, the key tax question for income earned from 1 April 2026 is…
