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,…
Read more
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,…
Read more
The Indian government on Wednesday deferred a controversial decision to make online registration mandatory for ECNR (emigration clearance not required) passport holders flying to 18 countries, including the UAE. In a public notice, India’s top emigration officer who signed the…
Read more
The Income-Tax Appellate Tribunal (ITAT) has said NRIs do not need to reveal details of their foreign bank accounts and assets to Indian authorities. The tribunal has also ruled that the onus is on the I-T Department to prove an…
Read more
New Delhi, Oct 9 (PTI) A SEBI panel may soon suggest merger of foreign portfolio investment and NRI/OCI routes to bring in a single regime for foreign investors and regulate NRI fund inflows, senior officials said. Besides, the panel may…
Read more
Yogesh sood, A NRI living in the US filed a fraud case against his brother who attempted to claim his parental property by preparing a forged will. Yogesh sood had registered a complain at NRI police station under section 420(cheating), 448(punishment…
Read more
Residential status is dynamic and needs fresh determination for each financial year. Residential status in India is determined based on physical presence in India in the current financial year (FY) and the preceding 10 FYs. If the individual satisfies any…
Read more
In case of joint ownership of a property, the rental income earned on the same is required to be split between the co-owners in the ratio of their shares, if it is definite and ascertainable. However, if the whole amount…
Read more
The government Monday exempted from income tax the interest payable on rupee-denominated bonds issued outside India by a company or a trust to a non-resident or a foreign company, a move aimed at increasing dollar inflow. The interest would be…
Read more
Real estate and gold have traditionally formed a large chunk of Indian investors’ portfolios. However, over the past few years, returns from them have been poor to negative. Apart from keeping gold or real estate for self-use, investments in these…
Read more