The Foreign Exchange Management Act (FEMA), enacted on December 29, 1999, is the backbone of India’s foreign currency regulation. Replacing the outdated Foreign Exchange Regulation Act (FERA), FEMA was designed to modernise India’s approach to external trade and payments, aligning it with the country’s liberalised economy and global trade practices. A FEMA licence is mandatory […]
If you earn or pay commission or brokerage, you need to know about Section 194H of the Income Tax Act. It tells you when and how TDS (Tax Deducted at Source) should be deducted before making payments. What is Section 194H? Examples of Commission/Brokerage Covered When to Deduct TDS You must deduct TDS at the
Tax Deducted at Source (TDS) plays a vital role in India’s taxation framework, ensuring tax is collected at the time of payment. For businesses and individuals dealing in commission and brokerage, Section 194H of the Income Tax Act is particularly important. It mandates deduction of TDS before payments are made, improving transparency and preventing tax
India’s equity markets are entering a new era with the launch of T+0 settlement, a system where trades are settled on the same day they are executed. This landmark change promises to make the market faster, more liquid, and more efficient. The country’s stock market journey dates back to the 19th century, with the Bombay
Understanding Tax Deducted at Source (TDS) on interest from securities is crucial for both individuals and businesses in India. Covered under Section 193 of the Income Tax Act, the provision mandates that anyone paying interest on securities to a resident must deduct tax at the source. From rules and exemptions to compliance requirements, Section 193
