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A WILL is a legal document that dictates how you want your assets to be distributed after you’ve passed on. It’s a fluid document because it has no effect until you die which means you can change it whenever you…
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India is a country of strict and lengthy documentation procedures. Major paperwork is demanded in fulfilling all the formalities before you can actually own a property in India. But, buying a property in India for NRIs is a nightmare because…
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The government is working on pre-filled Income-Tax returns using TDS data available with it. When did this idea originate? What are its advantages, and what are some of the concerns articulated by critics? In late 2002, when the then Finance…
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Capital markets regulator Securities and Exchange Board of India (Sebi) in April introduced eligibility norms for foreign portfolio investors (FPIs) and new know-your-customer (KYC) rules. The norms inter-alia comprised of various additional disclosure requirements and casted an onerous compliance responsibility…
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My non-resident Indian (NRI) friends want to return to India after working for 20 years in the Middle East. They are enamoured by the good life their friends and relatives seem to be living in India. They have children who…
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Under the India income-tax law, if the seller qualifies as non-resident in India during the relevant financial year, the buyer is required to deduct TDS (tax deducted at source) at specified rate (plus applicable surcharge and health and education cess)…
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As 2018 comes to an end, a quick run-down of the main tax changes implemented during the year would help us in our tax planning and saving efforts. Most tax changes are usually proposed in the Budget (presented in February)…
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A recent court ruling may help some tax evaders go scot-free for concealing foreign income or assets. At the very least, the judgement passed by the Delhi High Court earlier this month is likely to make it difficult for the…
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After implementing path breaking Goods and Services Tax (GST), changing the cumbersome and archaic Income Tax Act is the next big agenda of Prime Minister Narendra Modi-led Union Government. While addressing the tax officials’ annual conference in September last year,…
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India’s Minister of State for External Affairs Gen. V.K. Singh launched the ‘Passport Seva Service’, a new initiative to streamline passport delivery services to Indian citizens living in the United States, with inaugurations in New York, Washington, D.C. and Atlanta,…
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