income tax Archives | Pravasi Samwad

Understanding income tax and account rules for NRIs

PPF Maturity and Savings Account Conversion: A PPF account also poses unique considerations If the account was opened before the

The ITAT ruled that the Rs 20 lakh gift was legitimately exempt under Section 56(2)(x) of the Income Tax Act,

To mitigate risks, tax professionals suggest that NRIs provide clear and comprehensive replies to any inquiries and ensure that all

As Oman moves forward with its plans, the introduction of an income tax could mark a significant change for many

The existing provisions under the Income Tax Act for taxpayers planning to leave India remain unchanged The Finance Ministry

In technical terms, NRIs are either Indian citizens or persons of Indian origin (PIOs), but are not resident taxpayers under

“Reassessment proceedings means reopening the already completed income tax assessment or income tax return (ITR) filing and reassess the total

The Indian Finance Act, 2020 made certain changes to the filing requirements for non-resident companies that may require US corporations