Brooks - A Payroll Specialist, Since 1999

Where assessee-company made payment of royalty to its AE for mere use of trademark, that too by means of non-exclusive licence, it was to be allowed as revenue expenditure while determining ALP. Assessee-company (GKN Driveline (India) Ltd.) was engaged in business of manufacture and sale of Constant Velocity Joints (CVJ) – During relevant year, assessee made payment of royalty to AE for use of its trademark in respect of manufactured products – In transfer pricing proceedings, TPO taking a view that payment in question was capital in nature, disallowed same and made certain addition to assessee’s ALP – It was noted that Tribunal in assessee’s own case relating to earlier assessment year, opined that assessee did not acquire any ownership right in trademarks by paying amount of royalty – It was further noticed that royalty was paid simply for use of trademarks, and that too tax consultancy firms in delhi , by means of a non-exclusive license – Tribunal had thus conclude...

The rise of the online community has changed the way in which we do business forever.  It has brought us closer to people that can help with our day to day operations as well as backend business needs, enabling our businesses to run smoother and turn more profit.  One of the key places that this has really made a difference for business owners is in   outsourcing payroll processing . Payroll management services  is much like going to the dentist—no one really wants to take the time out to do it but neglecting the issue can lead to serious repercussions.   For the most part, this is why business owners just want to hire someone to do it and not have to think about it themselves until March or April. Get more information visit at:  http://bit.ly/2jXE9c8

The union budget for 2017 is expected to be unique in many ways. For the first time.  The budget is planned to be presented In the parliament on 1 February as compared to the regular practice of presenting it on the last day of February. Defying the age old tradition, the initivative of presenting the union budget in the parliament along with the Railway budget is also a significant change this year. Further company registration in India . The big step of demoentisation by the government by the government has set the bar of expectations very high viz a viz the tax reforms In the 2017. Union budget, Also the expectation of the citizens is that the success of company formation in india income disclosure scheme will urge the government to take measures on order to encourage more people to come forward to file their tax returns. The top expectation from the Budget is a move to a lower tax regime either by raising the basic tax exemption limit by at least Rs 50 thousand whic...

If you think that calculating taxable income is a big thing, then you are wrong. It is simple the only thing you need to know is about the deductions and exemptions you are claiming for and the relevant sections. However, one must take the help of a chartered accountant in Delhi or a financial advisor in doing so.  The salary received by an employee is taxed under the head income from salary. The computation of tax is done mainly on the gross salaried person. It is necessary for every individual to understand the basic calculation for computing income tax. Suppose,  somebody is earing an annual salary income of Rs. 11 lakh and has done the following investments In the financial year.  read more information visit at:  http://bit.ly/1ZfOddK

As announced in the Union Budget 2016-17, it has now been decided to expand the investment basket of eligible instruments for investment by FPIs under the corporate bond route to include the following: (i) Unlisted corporate debt securities in the form of non-convertible debentures/bonds issued by public or private companies subject to minimum residual maturity of three years and end use-restriction on direct foreign investment in india  real estate business, capital market and purchase of land. The expression ‘Real Estate Business’ shall have the same meaning as assigned to it in Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 Notification No.FEMA.362/2016-RB dated February 15, 2016. The custodian banks of FPIs shall ensure compliance with this condition. Read more information visit at:  http://bit.ly/2jToKZX

Even as the contours of the GST remain fluid, the Delhi government has eased the procedure for grant of registration to fresh applications to encourage more traders to contribute towards its kitty of Value Added Tax (VAT). Guidelines eased: In circular issued on Friday, The department of trade and taxes said that applicant dealers would be granted company registration in india within a day of applying through a mobile platform, even as it eased guidelines around the provision of bank details for the purpose. The provision of providing bank account details at the time of applying for registration under the DVAT and CST act has been made optional which will encourage more traders to register. Get more information visit at:   http://bit.ly/2jhCxvN

Attention of Authorized Persons is invited to the A.P. (DIR Series) Circular No. 16 dated November 9, 2016 giving certain exemptions to foreign tourists visiting India. In super session of instructions issued therein, it has been decided that foreign citizens (i.e. foreign passport holders) can exchange foreign exchange for Indian currency notes up to a limit of Rs. 5000/- per week till December 15, 2016 subject to the tenderer submitting a self-declaration that this facility has not been availed of during the week in accounting outsourcing companies in India . The Authorized Person shall keep the passport details and the above declaration on record. Authorized Person may also ensure that the total value of such exchange to Indian currency notes does not exceed Rs. 5000/- during the week. 2. The Instruction in respect of issue of prepaid instruments by Authorized Dealer Category I Bank shall continue in indirect taxation in India . 3. Authorised Perso...

In today’s globally connected world where the customers are based out of another country, the developers are based out of a different location and most of the communication happens on platforms like slack or base camp, the advantage is that work no longer needs to be kept within the four walls of an office. Key functions today can be performed remotely which benefits the small businesses. Benefits the bottom line of a company It is expensive to hire in-house resources to manage financial aspects. It can be financially straining for small businesses to hire a full-time accounting staff or specialist. Hiring in-house employees also attract additional costs like insurance, taxes, provident fund, training cost etc. Additionally, there’s cost of office space, stationary, supplies etc. which is spent on the accounting team. An  outsourced payroll services  benefits from eliminating all such expenses and managing the supplemental complexities. Pay for what you use...

Starting your own business could be troublesome and might not be success all the time in payroll management services . If the foundation are not relayed properly. We have enumerated the top legal documents that need to be acquired before you launch your first startup we will discussing the top five reasons why you should consider the help of a professional for handling your legal business documents. There are some legal documentation payroll services providers as well as small business legal documentation services on the internet that you can choose from depending on your budget. Money is involved here. So you definitely want to make each penny count. Be sure not to fall to fall to the lure of cheap priced legal documentation services that may end up being fake and will be the main reason for your downfall. Check out the reviews and opinions of other customers before putting your money on someone. Since these legal documents are a pre requisite to the success of your...

One such highly important activity is the payroll services for the employees, Usually to manage this, SME’s prefer to outsourcing payroll services , However, now SME’s can try the new cashless online payroll services solutions available in the market. The benefits of using such services can add up in the long run and the recent demonetisation effect and cashless movement has opened up new opportunities. Every though few people have shown resistance towards the cashless movement, if electronic monetary systems will be successfully implemented across sectors and organisation, people will necessarily have to accept the new cashless system. Cashless payroll systems provide various advantages to the organisations and it is easy to understand why everyone will gladly accept it, without having to be forced into. Listed below are  few such advantages that organization will receive with cashless payroll processing for their employees. Read more information visit ...