Cross-border tax & compliance insights

Advancements in Corporate Governance: An Overview of Revised Secretarial Standards in IndiaIn today’s evolving corporate governance landscape, companies must stay abreast of regulatory changes to maintain compliance and transparency. Recently, the Institute of Company Secretaries of India (ICSI) revised Secretarial Standards SS-1 and SS-2, which govern the conduct of board and general meetings, respectively. Effective from April 1, 2024, these revisions are set to enhance the […]Business · Jul 8, 2024Read the article Analyzing Corporate Buybacks and Their Tax Implications Under the Income Tax Act of 1961In the realm of corporate finance, the buyback of shares, also referred to as a share repurchase, is a strategic manoeuvre where a company reacquires its own stock from the marketplace or its existing shareholders. This action effectively reduces the number of outstanding shares, often signalling confidence in the company’s prospects and aiming to enhance […]Business · Jul 1, 2024Read the article Understanding the Impact of Tax Changes on Debt-Oriented Mutual FundsDebt-oriented mutual funds are a popular investment choice, focusing primarily on fixed-income securities such as bonds, treasury bills, and government securities. They are safer than equity mutual funds and aim to provide regular income with lower risk. However, recent changes in the tax regime have significant implications for investors. This article discusses the nature of […]Business · Jun 25, 2024Read the article Mastering 401(k) Rollovers: Timeframes, Restrictions, and Tax Implications ExplainedDespite the growing importance of retirement planning in the United States, many individuals remain unaware of the subtleties involved in managing their retirement funds effectively. According to the U.S. Census Bureau, 401(k)-style accounts are the most common retirement savings among working-age individuals, accounting for 34.6% of such accounts. However, a lack of comprehensive understanding of […]Business · Jun 19, 2024Read the article Navigating ERISA: Understanding Employer Fiduciary Responsibilities for 401(k) PlansWhile probing into the niche of retirement planning, understanding one’s role and responsibilities as an employer offering a 401(k) plan is paramount. The Employee Retirement Income Security Act (ERISA) mandates that those involved in managing such plans adhere to stringent fiduciary duties, ensuring the protection and optimization of participants’ savings for retirement readiness. As a […]Business · Jun 7, 2024Read the article Withdrawal of IRA by a US Non-residentIn the tricky terrain of international taxation, the withdrawal of Individual Retirement Accounts (IRA) by US non-residents presents a nuanced challenge. This article delves into the tax implications surrounding the withdrawal of both Traditional and Roth IRAs by individuals classified as US non-residents. We address the pertinent questions surrounding withdrawal strategies, tax implications, and the […]Business · May 29, 2024Read the article IRS non-discrimination testing for the 401(k) planSteering through the intricate terrain of IRS non-discrimination testing for IRS 401(k) plans needs precision and foresight. Annually, these tests serve as the litmus test for equitable distribution of benefits and adherence to 401k contribution limits for highly compensated employee (HCEs), safeguarding against disproportionate advantages for HCEs. Timely completion, typically following year-end, is imperative to […]News · May 17, 2024Read the article Mandatory Filing of Beneficial Ownership Information Report (BOIR) by Reporting companies under the new legislation of Corporate Transparency Act (CTA)With the new year, on January 1, 2024, the gavel struck, ushering in the next era in American corporate governance by implementing the Corporate Transparency Act (CTA). This legislation coupled with the new FinCEN rules emerge from the Anti-Money Laundering Act of 2020. They aim to act as a bulwark against the shadows of financial […]News · May 13, 2024Read the article Navigating Dematerialization: Regulatory Guidelines for Dematerialization of Shares by September 2024The Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 (PAS Amendment Rules) usher in a new era of digitization in the corporate domain by extending the benefits of dematerialization of shares to private companies. It’s essential to grasp the nuances of the updated dematerialization compliance regulations to ensure stress-free operations in the new […]Business · May 3, 2024Read the article Year-End GST Checklist | Smooth Transition to FY 2024-25Venturing into the FY 2024-25 brings with it a flurry of responsibilities for all GST registered firms and proprietors, particularly in the realm of GST compliance. As the curtains draw close on the 2023-24 financial year, it’s time for businesses to equip themselves with a thorough year end GST checklist. This GST checklist serves as […]Business · Apr 29, 2024Read the article New vs Old Tax Regime- A Guide for FY 2023-24 Income Tax FilersWith the introduction of the new tax regime and its divergence from the familiar old tax regime, Indian taxpayers can find themselves at crossroads regarding the old vs new tax slab. As we conclude the financial year 2023-24 and prepare for the tax filing season, grasping the comparison between new vs old tax regime becomes […]News · Apr 25, 2024Read the article Estate Planning Services in India and the United States – A Comprehensive Guide for Your Financial FutureEstate planning is the process of preparing for the transfer of a person’s wealth and assets after their death. It involves a range of legal and financial activities that can help individuals ensure their assets are distributed as they wish, while minimizing taxes and other costs. Estate planning is important for people of all ages, […]Business · Feb 24, 2023Read the article Why India-based AIF needs to register with IRS – Understand Tax Implications, Legalities & Registration ProcessAlternative Investment Funds (AIFs) with a base in India have grown significantly in popularity in recent years, offering investors a fresh means of diversifying their assets and gaining access to new investment opportunities. However, given the popularity of this investment vehicle, AIFS must understand the related legal and tax implications. Registration with the Internal Revenue […]Business · Feb 17, 2023Read the article Unlock Tax Benefits and High Returns with a Gift City Fund for HNIs: A Professional Investment VehicleThe Gift City Fund is a special purpose vehicle (SPV) set up under the Indian Companies Act 2013 that enables HNIs to invest in overseas markets and enjoy the benefits of global exposure. This fund is managed by a professional fund manager and is subject to Indian regulations. The fund is registered with the Reserve […]News · Feb 9, 2023Read the article INVESTING IN AIF: OVERVIEW OF TAX COMPLIANCESAs the pandemic hit, a huge section of the crowd progressed in their investing journey. Many people routed themselves towards private investment. In recent years AIFs have been one such investment that gained momentum. It helped in economic stability by providing new emerging entrepreneurs with the right financial support. Due to its large initial investment […]Business · Oct 19, 2022Read the article