Our Services
Ushma & Associates
Recent Blogs
Ushma & Associates
ROC Annual Compliance Calendar for Private Limited Companies
Every private limited company registered in India must comply with annual filing requirements under the Companies Act, 2013 and the rules prescribed by the Ministry of Corporate Affairs (MCA). These filings help maintain legal status, ensure transparency, and avoid penalties or disqualification of directors. Below is a structured explanation of the...
Reverse Charge Mechanism (RCM) under GST – Complete Guide
The Reverse Charge Mechanism (RCM) under GST is a special tax provision where the recipient of goods or services becomes responsible for paying GST instead of the supplier. Under the normal GST system, the supplier collects tax from the buyer and deposits it with the government. However, in certain specified situations defined under GST law,...
Residential Status under Indian Income Tax Act: Complete Guide for NRIs & Returning Indians
Understanding residential status under the Indian Income Tax Act is critical for NRIs, foreign employees, and Indians planning to return to India. Residential status determines whether India can tax only Indian income or global income, and even a small change in the number of days spent in India can have major tax implications. This guide...
Repatriation of Funds from India: Key Rules and Required Documentation
Repatriation refers to sending money from an Indian bank account to an overseas account. For NRIs, OCIs, and foreign nationals, this process is regulated by the Foreign Exchange Management Act (FEMA) and executed through authorized dealer (AD) banks. Understanding the regulations, limits, and paperwork involved helps ensure that outward remittances...
NRO to NRE Transfer: Rules, Process, Taxation, and Key Considerations for NRIs
Non-Resident Indians (NRIs) are permitted to transfer funds from their Non-Resident Ordinary (NRO) account to their Non-Resident External (NRE) account, subject to specific conditions laid down by the Reserve Bank of India (RBI). Such transfers enable NRIs to move eligible Indian income into a fully repatriable and tax-efficient account after...
Key NRI Compliance Checks to Keep in Mind in India
For Non-Resident Indians, staying aligned with Indian tax and regulatory requirements is essential. Proper compliance not only avoids legal complications but also ensures smooth management of financial affairs in India. 1) Review Residential Status Every Year Taxability in India depends entirely on residential status, which is determined based on...
How UAE and Singapore NRIs May Legally Pay Zero Capital Gains Tax on Indian Mutual Fund Investments
Indian mutual funds are a popular investment choice among NRIs. Under Indian tax law, capital gains arising from these investments are generally taxable in India. However, in specific situations, Double Taxation Avoidance Agreements (DTAA)—particularly those signed with UAE and Singapore—may shift the taxing rights entirely to the...
GST and Income Tax: Understanding the Fundamental Differences
GST (Goods and Services Tax) and Income Tax are two key elements of India’s taxation system, each serving a distinct purpose. Although they are often confused, their application, structure, and impact are entirely different. A clear understanding of both is essential for effective compliance and financial management. Nature of Taxation The most...
GST Compliance Calendar 2026–27: Key Dates, Returns & Practical Understanding
GST compliance is an ongoing responsibility for every registered business. While the system is structured, the number of returns, forms, and deadlines involved can make it feel complex. Missing even a single due date can lead to interest, penalties, and unnecessary follow-ups. A clear understanding of the GST Compliance Calendar for FY 2026–27...

