All about Global Minimum Tax and how important it is for India? July 05, 2021 14:23
More than 130 countries of the globe including India agreed for the Global Minimum Tax of 15 percent that will be levied on the multinational companies which are making huge profits but are paying a…
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NRIs Not Needed to Disclose Foreign Directorships in Tax Returns August 30, 2019 13:13
In welcoming news for Non-Resident Indian (NRI) business community and top executives, India’s tax authority announced that foreign citizens and NRIs who are required to file income tax returns in India will not have to…
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India Budget 2019 Cracks down on NRI Tax Evaders July 08, 2019 12:51
The 2019 Union Budget proposed by Indian Finance Minister Nirmala Sitharaman on July 5, aimed to tighten the noose around NRI tax evaders. Under the new budget, the Indian government has expanded the coverage of…
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NRIs No Longer Liable to Tax-Free Gifts from Relatives in India July 08, 2019 12:45
India budget 2019 has proposed to draw attention to a loophole that helped Non-Resident Indians (NRIs) avoid the tax net on gifts received from India. Whatsoever gift received by a taxpayer in India is taxable…
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5 Tax Rules NRIs Should Know to Plan Investments Efficiently June 22, 2019 13:11
Indians make up for one of the largest numbers of migrants in affluent countries. A recent report from the World Bank also showed that India was the highest receiver of foreign remittances in the world.…
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Indian tax laws give NRIs a raw deal September 30, 2013 11:34
There has been a continuous effort in the past decade or so to make the income tax laws simpler, consistent and taxpayer-friendly.The effort has resulted in faster processing of refunds and improving compliance. However, no…
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When NRI needs to file income tax return in India? September 30, 2013 11:28
The obligation to file income tax return in India is dependent on the residential status of the person. So, if you fall in the NRI category as per the Income Tax rules in India and…
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Income Tax Payable by NRIs September 30, 2013 11:19
According to the Income Tax Act of 1961, an annual tax is levied on income by the Central Government of India. This is known as Income Tax. According to the rules applicable to the NRIs…
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HSBC fears significant penalty in NRI tax evasion probe September 30, 2013 11:10
Global banking major HSBC has said it may face "significant" penalties from the US authorities with regard to an ongoing probe into suspected tax evasion by the US-based clients of its Indian unit, among other…
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The tax implications for NRIs buying property September 30, 2013 10:52
The falling rupee and the lull in the property market in many cities are attracting Indians settled abroad to consider property investments in India. Non-resident Indians are allowed to purchase residential or commercial property in…
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