What is DTAA and how to avail its benefits What is DTAA? Often, income that originates in India is taxed within the country. However, Non-Residents of India, who are residents of another country, may find that the same income is taxed again in their country of residence, resulting in double taxation...
Foreign Tax Credit In today’s globalized economy, individuals and businesses often find themselves engaging in transactions across international borders. While this presents numerous opportunities, it also introduces complexities, particularly when it comes to taxes. Since, different countries have ...
Lower Deduction Certificate What is Lower Deduction Certificate? A Lower Deduction Certificate (LDC) is a document that certifies to the tax authorities that a taxpayer is eligible for a reduced rate of tax deduction at source (TDS). The LDC helps taxpayers avoid getting higher TDS deducted than the...
Understanding Gift Tax in India Gifts are a heartwarming way to express love, appreciation, or celebrate milestones. However, understanding the tax implications of giving or receiving a gift in India is crucial to ensure compliance and avoid unexpected tax liabilities. India's gift tax rules have ev...
Understanding Set Off and Carry Forward of Losses in Income Tax Managing your finances effectively is crucial, especially when it comes to taxes. One aspect that can significantly impact your tax liability is how you handle losses. The Income Tax Act provides provisions for setting off and carrying ...