Category Archives: NRI Taxation

Investing in Pension Plans in current situation? Beware and understand Why (or Why Not)

Taking benefit of low Bank FD interest and low/negative return on equity mutual funds, many insurance agents are marketing pension plan heavily for safe guaranteed return. However, they may not be a good investment for you on Risk Adjusted After … Continue reading

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Investing in Debt Mutual Fund in current situation? Beware and understand Why (or Why Not)

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. … Continue reading

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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 … Continue reading

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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 … Continue reading

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USA Tax Returns : Types and Applicability

US TAX RETURNS – CA Vishal Jagetiya, CA Shivam Thakkar 1. Introduction The U.S. tax system is set up under both a federal and state level. There are several types of taxes such as income, sales, capital gains, etc. Federal … Continue reading

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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 … Continue reading

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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 … Continue reading

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Decoding Budget 2019 (No. 2) for NRIs: 11 important changes and their effect on NRI Investments and Taxation

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On July 5, the First full-time Female Finance Minister of India, Ms. Nirmala Sitharaman, presented the budget in the Parliament. While it may be a mixed bag for many, the one category it affect the most, and that too positively, … Continue reading

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Budget 2018 Proposal related to 10% LTCG on equity, its effect and expectations of stock market until March 31, 2018

The Finance Bill 2018 proposes to tax the long term capital gain (LTCG) on equity shares and equity mutual funds subject to STT @ 10% exceeding Rs. 1,00,000 from April 1, 2018. The LTCG on equity has been exempt from … Continue reading

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Budget Analysis for Investors: How to Efficiently Plan your Investments NOW for Maximum Benefit

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 … Continue reading

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Rs. 500 and Rs. 1000 Currency notes No longer valid in India from November 9, 2016 – An Analysis

“From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. These notes are just papers from tomorrow,” said Prime Minister Mr. Narendra Modi. The announcement was made to combat black money, corruption, counterfeit currency … Continue reading

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15CB, 15CA Procedures Updated: Understand new procedures applicable from April 1, 2016

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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 … Continue reading

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“Non Filing of Income Tax Return – Reg.” notice and Eye-opening Reality of Information Gathering by IT Department

Recently, the Income Tax Department (ITD) has become very aggressive in widening the tax base through identification of stop-filers and non-filers by issuing notices to  persons who it thinks may have filed the return. The notice would say,  ”The Income … Continue reading

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NRO to NRE transfer Update: 15CB/15CA required for Both “Taxable” and “Non Taxable” Transfers

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 … Continue reading

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