TAX KPMG IN INDIA

Tax experts say the international tax treaty, which Republicans strongly oppose and requires a two-thirds majority in the US Senate to pass, faces significant challenges. Without US ratification, meeting the OECD tax deal's implementation conditions...

GST taxpayers can now amend Form GSTR-1 with Form GSTR-1A before tax payment, ensuring accurate GSTR-3B filing. Partners like Abhishek Jain from KPMG appreciate the revision option, anticipating mechanisms like GSTR-2B for credit reconciliation. BDO...

Wealthy Indians can use GIFT City to avoid US inheritance tax on offshore investments. IFSCA is seeking tax parity for funds in GIFT City to attract HNI investors.

Happy Thursday! The country’s top IT firms have seen a massive drop in their bench strength, i.e. employees not on active projects. Find out why and more in today’s ETtech Morning Dispatch.

Global capability centres (GCCs) operating in India have made it a priority to understand local compliance norms amid an evolving regulatory and GenAI landscape, as per a Nasscom-KPMG survey report.

Indian auditing firms are pushing for fair competition with multinational counterparts, expressing concerns over the Big Four's increasing dominance and alleged manipulation of regulatory loopholes. The Institute of Chartered Accountants of India (I...

Tax experts hailed the record-breaking GST collection of Rs 2.10 lakh crore in April, attributing it to a robust economy and effective audit and scrutiny by the tax department. They anticipate this achievement to pave the way for further tax reforms...

India's economy is estimated to have grown 7.6% in FY24. The IMF expects India's GDP to expand 6.8% in FY25, retaining its status as the world's fastest-growing major economy. Total GST collection was ₹1.78 lakh crore in March while the monthly aver...

The first one was opened in Mumbai in 2022 where the company has demonstrated accelerators built with partners, hyperscalers and original equipment manufacturers like Oracle, Microsoft, Google, Salesforce, ServiceNow, Adobe, OutSystems and startups.

Top audit firms in India, including KPMG affiliate BSR & Affiliates and BDO affiliate MSKA & Associates, have stopped offering non-audit services to audit clients. This move aligns with the NFRA's strict stance on conflict-of-interest issues. EY aff...

In the interim budget presented by Union Finance Minister Nirmala Sitharaman, the government aimed to appeal to key voter groups like farmers and the poor while maintaining fiscal prudence. Winners included the agriculture sector, middle class with ...

GST Collections: India's Goods and Services Tax (GST) revenue has witnessed a notable upswing, reaching ₹1.72 lakh crore in January 2024, marking a significant 10.4% Year-on-Year (Y-o-Y) growth. This accomplishment represents the second-highest mont...

Budget 2024: India's manufacturing sector has been a key driver of the economy. The government introduced section 115BAB in the Income-tax Act, offering a reduced tax rate of 15% to newly established domestic manufacturing companies. The sunset date...

The new office, equipped with state-of-the-art facilities and collaboration spaces, will accommodate a growing team of professionals, a statement said. KPMG currently has over 250 professionals in Kolkata and has ambitious plans to double its workfo...

Termed "Project Himalaya" within KPMG, this endeavour has been quietly underway for several months and is spearheaded by KPMG India's CEO, Yezdi Nagporewalla, along with select partners. The new entity, when formed, is expected to soon grow to 50,00...

The GST Authority for Advance Rulings (AAR) in Karnataka has ruled that Juspay Technologies, the company behind the ride-hailing app 'Namma Yatri,' is considered an e-commerce operator under GST regulations. However, the AAR clarified that Juspay Te...

The Big Four accounting firms - EY, PwC, Deloitte, and KPMG - are engaged in a talent war as they seek to strengthen their advisory practices and fill gaps in their service portfolios. Deloitte recently hired 150 members, including 15 partners, from...

India has undertaken a slew of reforms that were supposed to remove structural rigidities, expand government revenue, improve ease of doing business and target the informal sector. The centerpiece of such reforms was the introduction of Goods and Se...

In an interview with Vinod Mahanta, Linke talks about the evolution of Indian tax regulation, global tax regulations and the changing nature of the tax advisory profession. Edited excerpts: