New TDS Framework for Purchase of Property from NRIs Effective 1 October 2026 Income Tax Notification: The CBDT has notified the Income-tax (Fifth Amendment) Rules, 2026, introducing a specific TDS compliance framework under Section 393(2) for cases where a resident Individual or HUF purchases immovable property from a non-resident seller. The amendment becomes effective from …
TDS on Purchase of Immovable Property from a Non-Resident: PAN-Based Compliance from 1 October 2026 Income-tax (Fifth Amendment) Rules, 2026 — Notification G.S.R. 830(E) dated 22 September 2026 1. The notification at a glance The Central Board of Direct Taxes (CBDT) has issued Notification No. 121/2026 (G.S.R. 830(E)), dated 22 September 2026, amending the Income-tax …
FAST-DS 2026: Foreign Assets Disclosure Scheme for Small Taxpayers – Key Highlights The CBDT has introduced FAST-DS 2026 (Foreign Assets of Small Taxpayers Disclosure Scheme), a one-time voluntary disclosure opportunity for taxpayers to regularize certain undisclosed foreign assets and foreign income and obtain relief under the Black Money Act. What is FAST-DS 2026? FAST-DS is …
2026 Guide : NRIs Sending Money to Parents or Family in India What NRIs Must Know About Taxes when Sending Money to India Millions of NRIs send money to India every year. India receives over USD 125 billion annually in remittances, making it the world’s largest recipient of inward remittances. While sending money to family members …
Exemption limit under Long-Term Capital Gains computation in 115BAC Vs Classic 112 Income tax Basic Exemption Limit Under Income Tax Law Becomes INR 2,50,000/- When Indexed Long-Term Capital Gains Is Chosen (Even in New Regime u/s 115BAC) : The “higher basic exemption limit of INR 3,00,000/- or INR 4,00,000/-” under the new regime does not …
Key Tax Proposals for NRIs & Foreign Investors in Budget 2026 Foreign investors and NRIs closely examine India’s Union Budget each year for directional cues on taxation, compliance, and the overall investment climate. Budget 2026 continues the government’s push toward streamlining tax administration, easing cross‑border investment, and strengthening India’s competitiveness in manufacturing, technology, and financial …
Tax compliance is Imp : Filing an ITR is not always about paying tax Non‑Resident Indian bought property, TDS was deducted, but no income tax Return filed. Result? INR 66.95 lakh treated as unexplained money. Here’s how Income Tax Appellate Tribunal Ahmedabad saved him — and the clear lesson for every Non‑Resident Indian Who was …
Income Tax Communications for Non-Disclosure of Foreign Assets AY 2025-26 (FY 2024-25) In December 2025, the Income Tax Department issued emails, SMS alerts, and portal intimations to taxpayers regarding possible non-disclosure of foreign assets and foreign income in their income tax returns for AY 2025-26. These communications are compliance nudges, not penalty notices, giving taxpayers …
NRI Tax on Remittances from India (2025 Guide): Rules, TDS, Forms & Smart Tax Planning Millions of Non-Resident Indians remit money to India every year to support their parents, family members, make investments, or meet personal obligations. These remittances play a vital role in supporting Indian households and contribute significantly to the Indian economy. Thousands …
NRI Taxation on Property Sale TDS compliance when property transactions involve NRIs, highlighting correct section applicability, buyer responsibility, Form 13 planning, & DTAA benefits. Which TDS Section Applies? Seller is NRI : Section 195 applies: Highest compliance requirement & the buyer is responsible for TDS (not the NRI) TDS Applicability: TDS is required on the amount payable …