M2K Advisors

We had a fantastic seminar on the 2024 Budget! 🎉 It was an insightful session with detailed deliberation on certain key topics and issues. Thanks to the entire team for pulling this out so well within the short duration despite the ongoing work schedule #Budget2024 #TeamSuccess #m2kbudget

Dear All, Greetings from M2K ! I hope this message finds you well.   We would like to bring to your attention the key highlights of the India Union Budget 2024, recently presented by the Finance Minister. This budget contains several significant measures that may impact various sectors and business operations.   Key Highlights:   Key Direct Tax Reforms: Changes in taxation with regard to buyback regime, abolition of Angel Taxes, streamlining Capital Gains Tax holdings and rates; significant reforms to address the litigation management from Direct Tax standpoint including the introduction of Vivad Se Vishwas 2024, rationalisation of TDS rates, etc.   Key Indirect Tax Reforms: Power to recover GST through notification in certain circumstances, extending the timeline for availing ITC and eligibility in a few situations, streamlining recovery provisions, Pre-deposit rationalization, introduction of Amnesty Scheme; exemption from Compensation Cess to SEZ; change in basic duty for certain items.   Policy Level Announcements: Streamlining Safe Harbour and Transfer Pricing Assessments, Review of Income Tax Act and Review of GST Rates, FDI and ODI Simplifications etc.   Other Announcements: Focus on Nine Priorities laying down vision of ‘Viksit Bharat’. Key areas of focus were Assistance to MSME Sector, Promotion of Manufacturing & Sales as part of the overall Make in India; Ease of Doing Business by streamlining IBC, Employee linked incentive to facilitate new employment generation; Special Skilling Program for Youth and Women and finally touched upon the next generation reforms.   We have enclosed herewith our detailed analysis of the above aspects for your consumption.   Feel free to reach out to us for any clarifications or discussions. Happy Reading !!

Dear All,   Greetings from M2K !   Shopify has revolutionized the world of entrepreneurs in e-commerce space offering them comprehensive services and support for all their needs. At the supply side, various app developers/ service providers have partnered with Shopify to offer solutions with the cutting-edge technology to Shopify customers spread across the globe. With tremendous growth in the no. of Shopify Partners from India in the recent years, the awareness on the tax & regulatory landscape in India gains prominence.    M2K has been a trusted advisor to numerous Shopify Partners and App Developers, guiding them through the intricate processes of setting up their entities, managing their book-keeping, navigating their tax and regulatory compliances and assisted them on their exits. Our extensive experience with Shopify Partners has allowed us to understand the various tax and regulatory challenges they face and assist them in navigating these issues with ease.    This article aims to provide a comprehensive overview of the tax and regulatory nuances/ implications that Shopify Partners should be aware of from the inception of their company to its exit.

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M2K Alert - Reminder on dematerialisation of securities Dear All,   As highlighted earlier, every private limited company (other than a small company) is required to get the shares dematerialised. The last day to dematerialise shares / securities is 30th September 2024!  Small company excludes holding and subsidiary companies even if they are below the threshold limit.     The process to get the shares dematerialisation is quiet lengthy and might even take 2-3 months depending on number of shareholders, type of shareholders, etc. Further, due of the volume of applications received by the intermediaries like depositories & RTAs, this is taking even longer than usual. Therefore, it is recommended to initiate the process much ahead to ensure completion of dematerialization by 30th September.    Below are some of the consequences for non-compliance which may impact the business/ transaction.     Any company proposing to make an offer for issue of securities, buyback of securities, issue of bonus shares or rights issue after 30th September, can do so only if the entire securities held by its promoters, directors, and key managerial personnel are dematerialized. The holder of securities of a company can subscribe to further securities by way of private placement, bonus shares, rights offer, etc. made after 30 September 2024 only if their existing holdings are dematerialized. The holder of securities of a company can transfer such securities only if the same are dematerialized before such transfer. In case of non-compliance, authorities shall levy monetary penalties on company and every officer in default. We have attached a flyer capturing the details and the process for dematerialisation.     #M2K #M2kalert #dematerialisation #securities

M2K US Knowledge series #51 - Taxation in Kentucky We are pleased to share our alert on the annual tax compliances that are required to be undertaken by any entity incorporated within the state of Kentucky, USA. Kentucky's central location in the eastern United States provides businesses with access to major markets in the Midwest and Southeast regions. The state has a low cost of doing business and a business-friendly environment with incentives such as tax credits, grants, and loans to encourage business growth. Kentucky offers a combination of a low cost of doing business, business-friendly environment, skilled workforce, strategic location, infrastructure, quality of life, and government support, making it an attractive destination for incorporating and operating a business. Hope you find this useful! #M2K #M2Kalerts #usalert #tax #Kentucky #compliance

The Concept of Beneficial Ownership ('BO') and its applicability to Capital Gains garnered significant attention after the Hon'ble Delhi High Court observations in the Blackstone's ruling. The article cover's the arguments favoring and against the application of the BO's concept to capital gains article. #Beneficialownership #capitalgains #taxtreatyinterpretation

M2K US Knowledge series #50 - Taxation in Wyoming We are pleased to share our alert on the annual tax compliances that are required to be undertaken by any entity incorporated within the state of Wyoming, USA. Wyoming’s central location provides access to major markets in the western United States. Wyoming offers a business-friendly regulatory environment with streamlined processes for incorporation and compliance. Wyoming does not impose a corporate income tax and personal income tax, making it an attractive option for businesses looking to minimize tax liability. Wyoming offers a combination of tax advantages, low costs, a business-friendly environment, strategic location, and high quality of life, making it an excellent choice for incorporation. Hope you find this useful! #M2K #M2Kalerts #usalert #tax #Wyoming #compliance

M2K US Knowledge series #49 - Taxation in Wisconsin We are pleased to share our alert on the annual tax compliances that are required to be undertaken by any entity incorporated within the state of Wisconsin, USA. Wisconsin provides businesses with access to major markets in the United States and Canada. The state offers a favourable business environment with a relatively low corporate income tax rate and various incentives for businesses. Wisconsin offers a combination of a business-friendly environment, skilled workforce, strategic location, agricultural resources, innovation, and government support making it an attractive destination for incorporating and operating a business.   Hope you find this useful! #M2K #M2Kalerts #usalert #tax #Wisconsin #compliance