NRI PIS V/S NON-PIS BANK ACCOUNT Both these accounts allows investment in securities in India like mutual funds, equity stocks, IPOs, ETF, bonds, etc., by the NRIs and PIOs. NRIs can open these accounts with any broker available in India like ICICI Direct, IIFL Securities, HDFC Securities, Zerodha, Angel Broking, etc. however, it is to be noted that …
What is the Deduction in respect of royalty income under the Income Tax Act, 1961 BRIEF INTRODUCTION An author earns income by publishing their book. The publisher publishes the author’s book and also the author gets the profit against the overall number of books sold. The said amount of profit earned by them is termed royalty income. An author …
Key provisions of NRI Taxability PERMANENT ACCOUNT NUMBER PAN card number is a ten-digit number designed with the unique alphanumeric combination. This number is required to be taken by all entities requiring payment of tax in India. It is issued by the Indian Income Tax Department. PAN card also serves as the national identification number …
A Guide to Tax Implications on NRIs Who is considered as NRI? If you do not satisfy any of the following conditions, A person shall be considered a non-resident of India (NRI).you will be an NRI if. In case you are in India during the financial year for at least 6 months (182 days to …
E-FRRO Compliance for foreign nationals in India In line with ‘Digital India’ vision, Government of India has further digitalised the process of FRRO (Foreigners Regional Registration Office) registration, Visa extension etc. for foreign nationals visiting India. Of lately, the Government had introduced online Foreign Registration and Visa extension facility. Foreigners could book appointment and upload …
FREQUENTLY ASKED QUESTIONS ON TAX COMPLIANCE ON NRI -HELP CENTRE Q.: What exactly is a Non-Resident Indian (NRI)? A “Non-Resident” is someone who does not live in India. An individual’s residential status in a given year determines whether the individual is a Resident or a Non-Resident for that year. As a result, an individual’s residential …
NRI Selling Property in India In comparison to an Indian Resident selling a property in India, an NRI must go through a number of procedures. As a result, it is critical to take the required steps before selling your residential or commercial property in India. But how would you avoid such massive tax deductions while still …
NRI Returning to India NRI returning to India on a temporary or permanent basis are obliged to comply to the corresponding exchange control standards governed by the Foreign Exchange Management Act 1999 . In addition, returning NRIs should keep track of their assets, investments and revenue sources outside India in order to understand the resulting tax consequences …
Income Tax Return is a form used to file income taxes with the Income Tax Department. Income tax is a tax on an individual’s income imposed by the Central Government. Each citizen is responsible for filing income tax. These income reports are verified by the IT department, and if any excess amount is paid, the …
Tax implications for NRIs who want to sell property in India NRIs who have sold house property which is situated in India have to pay tax on the Capital Gains. The tax that is payable on the gains depends on whether it’s a short term or a long term capital gains. When a house property …