Income Tax : Wrong ITR form selection, incorrect residential status, and missing Indian income disclosures can create tax complications for NRI...
Income Tax : India’s new PAN compliance framework introduces stricter documentation and verification requirements for NRIs and foreign entiti...
Income Tax : The updated law clarifies how stay duration and income thresholds determine tax residency status. It holds that only crossing the ...
Income Tax : Even if seafarers fail the 182-day NRI test due to crises or travel delays, foreign salary may still remain tax-free. RNOR status ...
Income Tax : Database mismatches can wrongly deactivate PAN for NRIs, resulting in higher tax withholding and significant capital blockage duri...
Income Tax : A focused session breaks down recent Budget amendments affecting NRI taxation. It highlights how changes impact income, investment...
Income Tax : Join CA Ruchika Bhagat on June 29, 2025, for a webinar on NRI taxation. Learn about residential status, taxable income, DTAA, TDS,...
Corporate Law : Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National ...
Income Tax : ICAI released an e-book on Taxation of Non-Residents based on the law as amended by the Finance Act, 2018. The book contains fol...
Finance : Country's largest lender State Bank of India on Friday revised interest rates for deposits by non-resident Indians (NRIs) across m...
Income Tax : Bangalore ITAT held that interest paid on a housing loan can be treated as part of the cost of acquisition where no deduction was ...
Income Tax : The ITAT Mumbai deleted the ₹14.70 lakh addition made under Section 69, holding that the NRI assessee had adequately explained t...
Income Tax : The case examined whether overseas income used for Indian property purchase is taxable. The Tribunal held that income earned and r...
Income Tax : Delhi High Court orders Income Tax Department to grant full TDS credit to an NRI seller despite the buyer's error in filing Form 2...
Income Tax : ITAT Jaipur to rule on NRI Ravindra Gaur's Rs. 86 lakh NRE account deposit, claimed as foreign remittance, challenging ex-parte ad...
Fema / RBI : NRIs/OCIs are governed by provisions of FEMA 1999 and do not require prior approval of RBI for acquisition and transfer of immovab...
Fema / RBI : Provided that, in case of a combination of all or any of the entities mentioned in Sub-Clauses (i) and (ii) of clause 5.5.4.1 abov...
Fema / RBI : These guidelines will issue in modification of paragraph 2(e) of Press Note 4 of 2006 and will be effective from the date of issue...
Explains repatriation rules for NRO accounts, including limits, permissible transfers to NRE accounts, remittance conditions, credits, debits, and FEMA compliance.
Every person who has relocated out of India, has at one point or another faced issues with respect to taxability of his income earned in India. In this article we shall be looking at the aspects that cover taxability of rental income earned from property situated in India for an individual who has been assessed […]
Finance Act, 2020 has come up with some landmark amendments in the Income Tax Act, 1961 in relation to taxation of income for Non-resident Indians making it more difficult for such people to maintain their ‘Non-resident’ tag so as to keep their foreign income out of the Indian Income Tax applicability. Indian citizens having a […]
Modification of residency provisions In order to bring prevent tax abuse the Finance Act, 2020 modified the Residency Provision. According to the un-amended Section 6, an individual is said to be resident in India in any previous year, if he— (a) is in India in that year for a period or periods amounting in all […]
1. As per Section 192 of the IT Act, any person responsible for paying any amount under the head salaries is required to deduct tax at source at the time of payment. This section unlike some other provisions, does not distinguish between payment of salary, to a resident, non resident or expatriate. Thus all payments which are taxable under the head salaries, are also covered by the provisions of TDS, irrespective of the residential status of the recipient.
Many Individuals from India have settled abroad. Moving to another country does not necessarily mean Good-Bye to the Home Country India. Many NRIs have invested in India in the form of Purchase of Mutual Funds, Life Insurance Policies, Shares, Securities, ancestral land/property, Unit Linked Insurance Plans (ULIPs), FCNR Fixed Deposit, holding of NRO & NRE […]
Whether a Non-resident is liable to deduct TDS from payments made to persons resident in India? Of late the Government of India has been making use of the provisions of Tax Deduction at Source (TDS) for augmenting tax revenues. Vide Finance Act 1995 the scope of TDS has been vastly enlarged. There are certain provisions […]
What are the major accounts that can be opened in India by a non-resident? Can a Bangladeshi/ Pakistani national or an entity owned/ controlled from Bangladesh/ Pakistan have an account in India?
AMENDMENTS FOR NON-RESIDENT INDIANS 1. Modification of Residency Provisions Tax Residency Period for Indian Citizens and Person of Indian Origin reduced from 182 days or more to 120 days or more along with stay of 365 days or more in India within 4 years preceding the financial year for determining as Resident in India. Individual […]
Union Budget, 2020 exhibits the unrelenting effort of the NDA Government to curb the tax abuse by the person exploiting their nonresident tax status, despite of being citizens of India. The Finance Bill, 2020 brings in anti-abuse measure for the taxpayers who deliberately prearrange their stay in India with an intent to avoid their categorization as Indian residents, thereby avoiding the tax in India.
