A lot of people are moving back to India because of multiple reasons like retirement, career – business or job, family or visa issues or any other reasons. “Why move” is THE most important decision. Once you have made up your mind, the next thing comes to mind is how best […]
From October 1, 2020, foreign remittance under LRS (Liberalized Remittance Scheme) or payment for any foreign tour package will attract TCS (Tax Collected on Source) @ 5%. When income tax department found that out of 5,026 selected cases of foreign remittance, 1,807 did not file returns, they decided to plug the gap […]
Taking benefit of low Bank FD interest and low/negative return on equity mutual funds, many MF agents are marketing medium/long duration funds for low risk investments. However, they may not be a good investment for you on Risk Adjusted Basis. 1. Never Invest In Debt Funds Based On Past Returns a. High […]
Union Budget (No 2) 2019 takes us a step closer to achieving short term goal of becoming a $5 trillion economy by 2024. The biggest theme of the budget was Connectivity. In addition, it also addressed liquidity issues, relaxed investment criteria and introduced key initiatives in R&D and education to pave way for […]
Budget 2017 has proposed many important changes related to investments. Efficient Planning of your equity, debt as well as real estate investment could materially affect the investment returns. I have analyzed the effect of major changes proposed in the budget related to investments and is summarized as follows: A. Income Tax […]
After Demonetization, the next focus of Indian government to curb black money is Benami Properties. Because of relaxed provisions, informal ways of doing things until now, it became part of a normal business to do certain things in the name of tax planning or to circumvent the laws. As a result, […]
Finally, the Central Board of Direct Taxes (CBDT) issues Notification no. 93/2015 dated December 16, 2015 that is both reasonable and practical for anyone making payment to a non-resident or an NRI remitting money outside India or transferring from NRO to NRE account. The important changes under the revised Rules are: […]
From June 1, 2015, any person making a payment to a non-resident, including an NRI transferring funds from NRO to NRE account would be required to obtain a certificate from a Chartered Accountant in form 15CB and file form 15CA to the income tax department. On May 14, 2015, the […]
Finance Budget (No.2) proposed many important changes related to NRI investments and taxation. One of the very important changes that has gone unnoticed by tax experts is that India is preparing to comply with FATCA (Foreign Account Tax Compliance Act ) of USA. While India has not yet signed the US-India […]
In a Historical turn of events, India has reached FATCA agreement in substance with the USA and has consented to be included in the list of jurisdictions that are treated as having a Inter-Governmental Agreement (IGA) under Model-1 with an effective date of April 11, 2014..…THIS IS HUGE….I have been telling […]