In India, Budget Day is an eagerly anticipated event, with businesses and the public keenly awaiting announcements of schemes and initiatives that could impact them. However, this year, due to the upcoming elections, Budget 2024 has been replaced with an Interim Budget. Nevertheless, the public’s expectations were met as the honourable Union Finance Minister, Smt. Nirmala Sitharaman, presented her sixth consecutive budget, ensuring continuity in plans and benefits.

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Compliances for Subsidiary Companies In India

In this article, we shall take you through all the Mandatory Compliances that are applicable on a Subsidiary Company, at different points of time, during the year.

A subsidiary company is any company, where 50% or more of its share capital is owned by a company that is incorporated in another foreign nation. The said foreign company is called the holding company or the parent company. Subsidiary Companies, being registered in India, are governed by Indian laws, like any other Indian company.

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Cost Inflation Index in India: A Comprehensive Guide

Cost Inflation Index (CII) is a crucial financial tool in India that plays a significant role in determining the inflation-adjusted capital gains on the sale of various assets. Introduced by the Income Tax Department, the CII helps investors and taxpayers account for the impact of inflation when calculating gains on the transfer of capital assets. This article aims to provide a comprehensive guide to the Cost Inflation Index in India.

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Major change in TDS provisions w.e.f 01st July’2021 – Section 206AB

Finance Act 2021 introduced section 206AB to the Income Tax Act which has major implications on existing TDS provisions and rates. The idea behind this provision is to extract Tax at source from persons who are not filing their IT Returns, thereby making the businesses more responsible towards filing their returns regularly.

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