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Govt. Clarifies NRI Investment on Non-Repatriation basis shall not be considered for Calculation of Indirect Foreign Investment [Read Notification]

The Ministry of Finance clarified that the investment by non-resident Indians (NRIs) on a non-repatriation basis in an Indian company shall not be...

NRI or Overseas Citizens could be constituents of applicant under SEBI (Foreign Portfolio Investors)...

Authorised Dealers can now Lend Money to NRI for Settlements involving Govt. Securities: RBI...

Income Tax: CBDT relaxes ‘residency rule’ for NRIs, if forced stay in India due to COVID-19 resulted...

Supreme Court directs CBDT to decide on Income Tax Exemption to NRIs within 3 weeks

Budget 2021: Govt. proposes major Economic Concessions to NRI Community

The Union finance minister Nirmala Sitharaman announced relaxation for non-resident Indians (NRIs) while presenting the Union Budget 2021, which will be effective from April 1, 2021. Presently,...

Budget 2021: Govt proposes relief for NRIs [Read Finance Bill]

The Non-resident Indians coming back to their home country due to the global market recession and unemployment in foreign countries post-pandemic period to get some benefits from the Central...

ITAT rescues NRI holding $3 Million in his Swiss Account [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while rescuing the NRI, Kamal Galani who is a holder of USD 3 Million in his swiss account held that a Swiss checking account was opened as...

Kerala Legislative Assembly passes Resolution against Budget Proposal to introduce NRI Tax

The Kerala State Legislative Assembly has passed a Resolution against Central Government’s move to introduce Income Tax for Non-Residential Indians (NRI). The resolution is against the Union...

NRI's Overseas Income will not be Taxed: Finance Ministry

The Finance Ministry has issued a clarification regarding Proposal to Income Tax on Non-Taxpaying NRIs in the Finance Bill 2020. The Clarification said that, NRI's Overseas Income will not be Taxed. ...

Budget 2020: Govt proposes Income Tax on Non-Taxpaying NRIs

In a setback to Non-Residential Indians ( NRI ), the Central Government has proposed the Income Tax on Non-Taxpaying NRIs in the Union Budget 2020. In the Finance Bill, 2020, the Government has made...

Non-Compete Fee Received by NRI not Taxable in India in absence of Business Connection in India: ITAT [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) in the case of ITO v Prabhakar Raghavendra Rao held that non-compete fee money received independently by the assessee pursuant to an...

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