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...
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 […]
Q.1 Who is a non-resident Indian (NRI)? Ans: An Indian residing abroad is generally known as Non-Resident Indian (NRI). NRI is defined under the Foreign Exchange Management Act, 1999 (FEMA) and the Income Tax Act, 1961 and for the purpose of the respective laws. NRI as per FEMA- Non-Resident Indian (NRI) means a person resident […]
The tax structure in India is divided into direct and indirect taxes. While direct taxes are levied on taxable income earned by individuals and corporate entities, the burden to deposit taxes is on the assesses themselves. On the other hand, indirect taxes are levied on the sale and provision of goods and services respectively and the burden to collect and deposit taxes is on the sellers instead of the assesses directly.
Pension Fund Regulatory and Development Authority (PFRDA) has now permitted Overseas Citizen of India (OCI) to enroll in National Pension Scheme (NPS) at par with Non-Resident Indians vide Circular No: PFRDA/2019/19/PDES/3 dated 29th October 2019.
Taxation of Non Residents in India Non Residents (hereafter referred to as NR) having a source of income in India are required to comply with the Indian tax laws which has certain beneficial provisions specific to them for facilitating their participation in the Indian economy. A NR, for the purposes of Income-tax Act, is used […]
A sale transaction between a non-resident (NRI) seller and resident buyer needs planning by seller and buyer shall take abundant caution. In most of the cases, misconceptions in the minds of buyers resulting into serious non-compliances and lack of awareness among sellers resulting into liquidity crunch. Through this article, I am making an effort to […]
The ultimate objective behind this article is to provide a brief idea in respect of Non Resident taxation and income tax rules and perks allowed to them which are way different from those applicable to resident Indians. 1. TEST OF RESIDENCE A. INDIVIDUAL a. An Individual is regarded as ‘Resident’ of India if: i. . […]
First women Finance Minister of India presented a decent budget with an aim to boost infrastructure and foreign investment in the country. The announced budget focused on bringing transparency in processes and procedures by proposing introduction of faceless assessment system, levy of TDS on cash payments above threshold limit and promoting digital payments. While the […]
Article analyses Budget Proposals by the Finance Act (No. 2), 2019 – Relevant for International Tax, Transfer Pricing & Non-Resident which includes Amendment of section 9 – Gift made to person outside India (non-resident), Amendment of section 9A – Providing relaxation in condition for offshore funds, Amendment of section 10 – Exemption of interest income […]
