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Purchase and Sale of Immovable Property in India by NRI / OCI

NRIs/OCIs play a very important role in our economy, considering the same in mind, RBI has allowed the investment in immovable property by NRIs/OCIs...

Service Tax can’t be imposed on Individual NRI under Business Auxiliary Services: CESTAT [Read...

NRIs can be appointed as Trustees of valid Indian Trusts under Income Tax Act: ITAT [Read Order]

ITAT confirms Addition Since Gift received from NRI Relative through Debtor couldn’t be Proved [Read...

NRIs under scanner: No Relief on Changing Address to establish Tax Residency Status Abroad

No Deduction to NRI for Travelling Expenses Incurred to manage Property in India: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), in Lal Nathirmal Moolchandan v. ITO (International Taxation)-4(1), has held that the travelling expenses incurred by a Non- Resident...

NRIs who don’t have Bank Account in India will get Income Tax Refund through their Foreign Bank Account, says Govt

Non-Residents need not give account details if seeking no refund. The Income Tax Refunds will be credited to Foreign Bank Account also for Non-Residents who is not having bank account in India,...

NRI’s Foreign Bank Accounts are Under Income Tax Scanner

Non Resident Indians who have legitimately escaped tax using their NRI status are under income tax scanner now. A few days ago, income-tax authorities have added a new provision in the tax return...

Foreign Bank having Branch in India can claim Nil Deduction Certificate for Interest on securities covered under s. 193 of IT Act: CBDT [Read Notification]

The Central Government today notified that nil Deduction Certificate under section 29B of the Income Tax Rules cannot be granted to a foreign Bank having a branch in India in case of interest on...

RBI introduces Facility for Citizens & NRIs for Exchange of Old Notes

Indian citizens resident in Nepal, Bhutan, Pakistan and Bangladesh cannot avail this facility. The Reserve Bank of India has introduced a facility of exchange of specified bank notes (SBNs) to...