An NRI is spared tax on income outside India. A resident is required to pay tax on global earnings. MUMBAI: The investigation wing of the income tax (I-T) department is going through the ‘residential’ status of non-resident Indians (NRIs) with…
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5 things to know about the budget announcement Those who do not have PAN card will be able to file ITR by quoting Aadhaar card number Quoting and authentication of PAN/Aadhaar shall be mandatory for certain prescribed transactions Under the…
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The tax season is back with a bang. This is the time when salaried individuals start getting their Form 16 TDS certificates from employers and business people get reminders from their chartered accountants to prepare for tax filing. As of…
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The income tax return (ITR) forms for FY 2018-19 notified by the government are different from those used to file the previous year’s returns. Some of the changes in the forms have been done in keeping with the changes in…
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Non-resident Indians have a plethora of investment options and have to choose the one that suits them best.Every NRI has surely been troubled by this question: should I invest in India or should I not? A complex cocktail of emotions…
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The taxes collected from the individuals is the foundation of the Indian Economy. Even though, NRIs live in abroad, they still have a source of income in India. So, they are also liable to pay Income Tax in India. NRI…
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Tax filing season has already begun and the due date to file your ITR for FY 2018-19 is set at July 31, 2019. As taxpayers are getting their financial documents ready to file their ITR, NRIs also wonder whether or…
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Financial planning is slowly getting to be as commonplace as a commodity, though there are subtle underlying complexities. These could be factors like life expectancy, return expectations and rate of inflation, to name a few. For a non-resident Indian (NRI),…
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Going by the Budget 2019 proposals, a salaried individual with gross total income up to Rs 7.75 lakh can invest in various tax saving avenues and avail of different deductions to reduce taxable income to Rs 5 lakh and consequently…
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