Minimize bookkeeping cycles and build better financial processes for efficiency.
Enable each employee grow through adaptive & people-centric processes.
Transform cost centers into drivers of value, eliminating inefficiencies from the processes.
Synergize people, processes, and technology, making compliance a strong fundamental for business.
Channel financial data to bring out business and financial insights to enhance audits.
Enable organizations meet accounting needs through operational & technical expertise.
Build data-centric processes for the implementation of audit inspection activities.
Deliver custom audit services to navigate through complex compliance challenges.
Strengthen control procedures, standardize operating processes, and increase reliability.
Create smart governance frameworks that manage risks and stakeholder trust.
Streamline strategy and create growth opportunities to surpass financial goals.
Help organizations navigate the complex rules governing tax and transfer practices.
Turn leads into clients, build effective strategies, and improve brand visibility.
Simplify the complex cross-repository processes to develop a path to improvement.
Help organizations shore up liquidity and key check performance indicators.
Design and deliver software products & platforms, modernize existing processes.
Uncover business insights from data across processes and systems.
Automate business processes, embed analytics for real-time decision making.
Draw the roadmap for implementing solutions across diverse business functions.
Each country has its own local taxation law to determine the residential status of the person for their country.
Introduction: As per the Income-tax Act, 1961 (hereinafter referred to as “the Act”), global income of the person resident in India is chargeable to tax in India . Further, all income of the non-resident person is chargeable to tax in India if the income is received or deemed to be received in India or accrues or deemed to accrue or arise in India . Determination of residential status of company is governed by Section 6(3) of the Act. Determination of residential status of the person defines the scope of taxpayer’s taxable income. Under the Act, a person resident in India is taxed on income derived from both domestic and foreign sources, whereas a person non-resident in India is only taxed on the Income that has its source in India (i.e. received or deemed to be received in India or accrues or deemed to accrue or arise in India). Each country has its own local taxation law to determine the residential status of the person for their country.
Such law could be different from Indian taxation law governed by the Act. There have been instances that the same income has been subject to double taxation on the principle of taxing an income based on the residency rule as well as source of the Income. There have been instances that the person is resident in two different countries based on the local taxation law. In order to curb inconvenience caused to taxpayers on account of difference in tax law of different countries, countries enter into Double taxation Avoidance Agreement (hereinafter referred to as “DTAA” or “treaty”). The main purpose of DTAA is to avoid such double taxation.
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