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 : Indian tax liability for NRIs depends on residential status, not citizenship. The key takeaway is that only India-sourced income i...
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 : 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...
Income Tax : ITAT Delhi rules Section 56(2)(vii) inapplicable to non-residents, deleting Rs. 9.31 Cr addition for APL Logistics Vascor Automoti...
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...
Residential status will be determined as per section 2(30) and test of resident in India u/s 6(1). Section 6(6) does not have any role once the status has been determined as non-resident and no conditions given under 6(6) needs to be checked further.
A gift is Money or House, Shares, Jewelry etc. that is received without any consideration, or simply an asset received without making a payment against it and is a capital asset for the Recipient. It can be in the form of cash, movable property or immovable property. (A capital asset typically refers to anything the individual owns for personal […]
This article is all about the NRI and its taxation aspects in India. Generally we observed that most of the NRI tax payers are in dilemma at the time of return filing. Therefore in this article we are covering the tax treatment of the income of NRI earned in India, which bank accounts should be […]
According to the new, rule of SEBI ,any NRI not having PAN card cannot do the share trading by depository or broker.
Non-understanding of correct residential status creates a high buzz for persons residing outside India or the persons visiting foreign for most of the year. They remain confuse whether taxes are to be paid in India and quantum of such taxes
To avoid paying tax on same income twice, one can use the provisions of the Double Taxation Avoidance Agreement (DTAA), a tax treaty India has signed with many countries.
If you are a Non-Resident Indian (NRI) and returning to India, you may have certain income tax worries. You may be curious to know that. The following lines may satisfy all your queries.
When a assessee is not meeting the following conditions then he is considered as NRI: 1. When assessee is in India for 182 days during previous financial year.
Determination of Residential Status of an Assessee under the Income Tax Act Residence in India – is determined by Section 6 of the Income Tax Act 1961 the Act Residence in India – is determined by Section 6 of the Income Tax Act 1961 the Act To determine the residential status of an individual, section 6(1) prescribes two tests.
Q.1 Who is an NRI? Ans. An Indian residing abroad is generally known as Non-Resident Indian (NRI). Non-Resident Indian (NRI) means a person resident outside India who is a citizen of India or is a person of Indian origin. NRI also includes the Person of Indian Origin (PIO). PIO is a person, who at any […]
