Entries by GreenVissage

Tax withholding on foreign remittances

Does my company make foreign remittances/payments? What are the important documents for me to be aware of? When is it required to withhold tax on foreign remittance? The sum payable to a non resident or a foreign company is income in the hands of the non resident / foreign company. If this income is chargeable […]

New Pension Scheme

Looking for employee benefit schemes? This is relevant to you. What is New Pension Scheme (NPS)? NPS is a retirement benefit scheme, the fundamental objective of which is to offer social security to the country men based on the scheme that one ought to save a certain amount for his welfare which he gets back […]

Union Budget 2018 – Proposed Amendments to Direct Tax

Corporate tax Tax Rate reduced from 30% to 25% – for micro, small and medium enterprises having turnover between 50 crore to Rs 250 crores (turnover to be considered is for financial year 2016-17). Education cess increased – The “education cess on income tax” and “secondary and higher education cess on income tax” shall be […]