Finance : Discover essential financial steps and tax tips for NRIs, including converting accounts, trading restrictions, and leveraging DTAA...
Fema / RBI : Discover top investment options and tax-saving schemes for NRIs returning to India, including FDs, NPS, equity, real estate, mutua...
Finance : NRIs visiting India should update KYC in banks, convert accounts to NRO, manage PAN and Aadhar, maintain an Indian mobile number, ...
Income Tax : Discover the need for PAN allotment to Non Resident Indians appointed as CEOs of Indian companies. Learn about the process and req...
Income Tax : Discover the challenges of income tax filing for NRIs from a CA's perspective. Learn about delays, frustrations, and suggestions f...
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...
Finance : The government is working on procedures to enable NRI,s to vote soon. Addressing the curtain raiser press conference of PBD-2011, ...
Income Tax : The new legislation, introduced in Parliament on Monday, says an individual shall be resident in India in any financial year if he...
Income Tax : ITAT Delhi rules Section 56(2)(vii) inapplicable to non-residents, deleting Rs. 9.31 Cr addition for APL Logistics Vascor Automoti...
Income Tax : In a case involving Anand Persad Jaiswal, ITAT Delhi ruled that interest income earned by a non-resident Indian (NRI) from a forei...
Income Tax : Explore the critical decision in Souvik Mukherjee Vs ITO (ITAT Delhi) regarding taxation of a bonus received abroad, and how it im...
Income Tax : An in-depth analysis of the case Parag Bhikhubhai Patel vs ITO, exploring implications of using passports to confirm US tax reside...
Income Tax : Shri Duraisamy Shanmugasundaram Vs ITO (ITAT Chennai) As per assessee’s submissions, the money deposited in NRE account was with...
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...
Understanding TDS on the purchase of property from a non-resident. Learn how to comply with Section 195 of the Income Tax Act.
1. Introduction on FIs by Non-residents in India (i) Permitted capital instruments (a) Equity Shares (b) Convertible Debentures (c) Convertible preference Shares (d) Shares warrants (e) American Deposit Receipts (ADRs) (f) Global Deposit Receipts (GDRs) (g) Foreign Currency Convertible Bonds (FCCBs) (h) Real Estate Investment Trust (REIT) (i) Alternative Investment Fund (AIF) (j) Indian Depository […]
Article contains Provisions related to Buying of the Properties in India by Non Resident Indians (NRIs), Income Tax Act, 1961 provisions applicable to Non Resident Indians (NRIs) in India, Provisions related to Investments in Shares and Securities by Non Resident Indians (NRIs), Investments in Equity shares and Securities on Non-Repatriation basis by NRIs, Investments in […]
An expatriate means a person visiting India or an Indian visiting outside India for employment purposes. In this article, we shall discuss the taxation & legal formalities to be followed by Expats on arrival in India. LEGAL FORMALITIES TO BE FOLLOWED BY EXPATS 1. Registration of Foreign National with Foreigners Regional Registration Officer (FRRO) All […]
Over the years, many Indians have settled overseas. As a result, they have assets in India and abroad. Having assets in multiple jurisdictions can become difficult to manage and therefore, many prefer to streamline their assets by gradually disposing off their assets situated in India, over time.
The income of a non-resident Indian (NRI) earned in India is taxable. Whether a person will be classified as NRI or not will depend on the number of days he or she has stayed in India and the quantum of income earned. Tax on an individual’s income depends on the source of such income and […]
NRIs/OCIs are governed by provisions of FEMA 1999 and do not require prior approval of RBI for acquisition and transfer of immovable property in India, other than agricultural land/ farm house/ plantation property
The term ‘Expatriate Tax’ is not defined under the Income Tax Act, 1961. However, in general terms, expatriate means a person who is living outside the country of his origin or where a country of which he does not hold citizenship.
Taxation of Non- Residents Person Objective: Income tax liability can only be determined if we rightly determine the residential status of Person, per se certain income which is taxable for a resident, may not be taxable at all for Non-resident and a person who is citizen of India may be non-resident and vice-versa. Basics: –Residential […]
How to repatriate the amount from NRO account to NRE account in compliance with Income tax Act, 1961 and Foreign exchange management Act, 1999? 1. Whether a resident relative (Father) can deposit money in his son’s Account? Yes, a resident relative (father) can deposit money. 2. What would be tax implication in respect of question […]
