Claiming the Fake deduction of HRA could result in Interests and Penalties

10 Apr, 2024

Claiming the Fake deduction of HRA could r...

News has circulated that the income tax department is cracking down on thousands of taxpayers who have falsely claimed ...

Stamp Duty value applies on the date of agreement not on the date of Sale Deed

1 Apr, 2024

Stamp Duty value applies on the date of ag...

Facts of the case: The taxpayer filed their income return on August 27, 2015, declaring a total income of ₹5,93,52...

Air ticket, hotel stays, postage, conveyance, and photocopying charges are allowed as Transfer Expense to NRI

1 Apr, 2024

Air ticket, hotel stays, postage, conveyan...

Selling property can be quite challenging, whether you're an NRI or a resident of India. As an NRI, the first step is f...

Advance tax Provisions: Taxpayers who fails to pay and not liable to pay advance tax

15 Mar, 2024

Advance tax Provisions: Taxpayers who fail...

The final installment of advance tax for the year is approaching, due on March 15, 2024. As a taxpayer, you're required...

Income Tax Notices to NRIs and Procedure to file application before Dispute Resolution Penal (DRP)

15 Mar, 2024

Income Tax Notices to NRIs and Procedure t...

If you're an NRI (Non-Resident Indian), you need to file an income tax return for any income earned in India. Often, wh...

Foreign Tax Credit not to be disallowed due to Non-Filing of Form 67

11 Mar, 2024

Foreign Tax Credit not to be disallowed du...

Amit, who is resident in India, worked with Ernst & Young Australia during the financial year and. Since he is an I...

Benefits of DTAA cannot be denied for not providing Tax Residency Certificate (TRC) only

11 Mar, 2024

Benefits of DTAA cannot be denied for not ...

In today's interconnected world, people are not limited to earning income solely in their own area, city, state, or cou...

How to prevent fund blockage during sale of property by NRIs through application of a lower TDS certificate

11 Mar, 2024

How to prevent fund blockage during sale o...

As an Non-Resident Indian (NRI), selling your property involves several crucial considerations. First and foremost, und...

Income tax on Rental income of NRI and Rate of TDS on NRI

26 Feb, 2024

Income tax on Rental income of NRI and Rat...

Acquiring property in India has become common among Non-Resident Indians (NRIs) due to the general permission granted t...

26 Feb, 2024

Repayment of Home Loan by NRIs from NRO or...

In cities like Gurgaon, Pune, Faridabad, and Bangalore, the number of immovable properties owned by NRIs is significant...

NRIs should Convert Saving Bank Account to NRO/NRE Account and the Consequences of Not Doing So

26 Feb, 2024

NRIs should Convert Saving Bank Account to...

If you're an Indian resident moving to places like the USA, Singapore, Canada, or the UK for work, studies, or business...

NRIs can remit upto $1 million from Sale Proceeds of Sale of Property

26 Feb, 2024

NRIs can remit upto $1 million from Sale P...

Did you know that as a Non-Resident Indian (NRI), you can sell property in India and remit up to $1 million from the sa...

Benefits to NRIs under FEMA and Income Tax Act

26 Feb, 2024

Benefits to NRIs under FEMA and Income Tax...

Do you know when you're considered a Non-Resident Indian (NRI) under the Foreign Exchange Management Act (FEMA)? And ar...

Insertion of schedule of Section 80DD, 80U in Form ITR-2 and ITR 3 to Stop fake deduction

26 Feb, 2024

Insertion of schedule of Section 80DD, 80U...

Recently, the income tax authority issued a corrigendum regarding the income tax form. They added a new table regarding...

Mistakes to Avoid in Property Purchases from Residents and NRIs

22 Feb, 2024

Mistakes to Avoid in Property Purchases fr...

When you're buying property, you need to deduct TDS (Tax Deducted at Source) from the seller's payment and deposit it w...

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