Budget 2020 the day after: NRIs’ bona fide foreign income won’t be taxed
The government said it doesn’t intend to tax income that bona fide workers earn overseas, allaying concerns about a budget proposal relating to non-resident Indians (NRIs) that said those who weren’t taxed in another country were liable to pay tax…
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Budget 2020: NRIs not required to file income tax returns in certain cases
Budget 2020: In areas of ease of compliance, one such amendment proposed by the Finance Minister is to extend exemption to non-residents from filing annual income-tax return in India in additional cases. Budget 2020 was presented by the Hon’ble Finance…
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Incomes of bonafide NRI workers in tax-free countries will not be taxed in India
The Finance Ministry has issued a clarification that clears the air over a contentious anti-tax abuse Budget proposal that had raised the hackles of many non-resident Indians. As per the proposal, “an Indian citizen who is not liable to tax…
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Budget 2020: Govt proposes income tax on non-taxpaying NRIs
The budget has turned out to be taxing for the non-resident Indian. Firstly, to be categorised a non-resident, an Indian now has to stay abroad for 240 days a year, against 182 previously. In other words, an Indian national, to…
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NRI whose income isn’t fully taxable can file Form 13 for nil or low TDS certificate
If the payee qualifies as an NRI during the relevant financial year, the payer is required to deduct TDS at a specified rate on the taxable income of the payee It is advisable to document the gift through a gift…
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Pick Up Tax benefits on NRI Home Loans
Over the years, non-resident Indians (NRIs) have invested substantial sums into Indian real estate, either purely from an investment perspective or due to an emotional attachment to the country of origin. Either way, the Indian government sees this as an…
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Deadline looms for linking PAN and Aadhaar cards for Indians, what can happen?
A public notice issued on Sunday by India’s Income Tax Department called for linking of Permanent Account Number (PAN) details and Aadhaar cards by December 31. The deadline was revised to December 31 after an extension in September – the initial…
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All you need to know about NRO and NRE deposits held by an NRI
It is quite common for people from India to go and settle abroad. Indian citizens who do so for employment or carrying out a business or vacation there or for any other purpose due to which their period of stay…
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Legalities of NRI property ownership
Though the Indian real estate environment has become very conducive for NRI investors yet again, there is often still hesitation to take the plunge because of uncertainty about the legal implications. The doubts that many first-time NRI property investors have…
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