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NRIs planning to buy land in India should ensure a clear legal title before finalizing any deal
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Appointing a lawyer to examine historical land records, check for outstanding liabilities, and verify ownership details is essential
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Buyers must also confirm whether the land is freehold or leasehold and obtain a title certificate to ensure a secure transaction
Government unveils a simplified tax system to encourage non-resident Indians to set up electronics manufacturing facilities
India has approved a comprehensive programme to establish a robust electronics manufacturing ecosystem, offering NRIs a simplified and low-tax regime to set up manufacturing units. The initiative, announced on February 1, aims to position India as a global leader in electronic system design and manufacturing, reported khaleejtimes.com.
Presumptive taxation system to reduce compliance burden for NRI entrepreneurs
Under the new system, 25% of the turnover of an NRI-owned manufacturing unit will be presumed as taxable income, with tax payable at the applicable corporate rate. At the current rate of 25%, the effective tax works out to just 6.25% of gross turnover. The scheme, applicable from April 1, 2025, also eliminates the need for account audits and minimizes litigation risks.
Indian Law Firms Seek Non-Legal Experts Amid Growing Business Needs.
Climate scientists, forensic experts, and AI specialists find new opportunities in legal services.
Indian law firms are increasingly hiring professionals from non-legal backgrounds to meet rising demands in ESG compliance, technology, and cyber law.
Top companies in India spent $6.25 billion on legal services in 2023-24, driving law firms to recruit experts such as climate scientists, forensic accountants, and AI specialists. Professionals joining law firms are advised to work in a consulting capacity to maximize tax deductions on legitimate expenses.
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