Quick Summary of Compliance Relaxation Measures announced by Finance Minister

Quick Summary of Compliance Relaxation Measures announced by Finance Minister Union Finance Minister Nirmala Sitharaman today announced various statutory and regulatory compliance relief measures amid a complete shutdown almost all over the country to control the spread of the coronavirus. FM has extended compliance deadlines and provided various relief measures in Income […]

Covid 19: Work from Home

COVID-19 : How can ‘Work from Home’ be implemented? SAFETY FIRST : Measures should be taken to prevent spreading COVID-19 : Work from Home policy should be adopted as Safety of Staff, Articles and family members is our Prime Responsibility. Few things that can be done: Communication to Clients: Make clear […]

Leveraged FD MAY be coming for NRIs – RBI Announces USD/INR Swaps

Extreme Risk Aversion due to Corona virus (COVID-19) has impacted all financial assets drastically with global market indices losing 30%+ in less than a month, gold touching Rs. 45,000 and emerging market currencies experiencing extreme pressure. Also in India, FIIs are selling big time and taking money (USD) out of India […]

Sale Old Real Estate or Immovable Property before March 31, 2020 and Save Capital Gains Tax

If you are planning to sell an immovable property originally acquired before April 1, 2001, you may be better off if you sell the property on or before March 31, 2020. Budget 2020 introduced a new provision restricting fair market value as on 1/4/2001 to the stamp duty value for calculating […]

Budget 2020: Important Changes that Affect Investments and Taxation in India

Budget 2020 was introduced with an objective of “Ease of Living” with three prominent themes as Aspirational India, Economic Development and Caring Society with Good Governance and Robust Financial Sector. However, it may not result into ease of calculating and determining tax liability. The Budget 2020 has made many changes including […]

Budget 2020: Resident definition changed – NRI can be taxed as a Resident

The Finance Budget 2020-2021 came as a big surprise for NRIs as it changed the definition of a “Resident” in India. The Government noticed an individual managing his/her period of stay in India, so as to remain a non-resident in perpetuity and not be required to declare the global income in […]