Those taking up a job abroad should notify their bank about the change in status and open appropriate NRI accounts
Taxpayers might face several issues while filing returns this year.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
In the first of a three-part series Paranjoy Guha Thakurta details the salient features of the Undisclosed Foreign Income and Assets (Imposition of Tax) Act, 2015.
Modi is likely to seek support of Switzerland and Mexico for India's membership of the 48-member Nuclear Suppliers Group as both these countries are key members of the elite group. The issue is likely to figure during Modi's meeting with Obama in Washington.
Indians are the biggest non-Arab investors in Dubai's real estate market.
In January 2006, King Abdullah became the first Saudi monarch in 51 years to visit India.
Anil Divan, who is fighting the black money case in the Supreme Court, speaks to Sheela Bhatt/Rediff.com.
Against estimates of black wealth of Rs 300 lakh crore and black money in cash of Rs 3 lakh crore by economist Arun Kumar, the PMGKY numbers fall short by a huge margin.
When an NRI returns to India, he should be aware of his tax residency status.
Advocate Prashant Bhushan, who is one of the petitioners in the black money case, makes a case for the revelation of all the names of account holders that the government has submitted to the Supreme Court.
Modi, who is undertaking his first visit to China as prime minister, will reach the ancient city of Xi'an, the home town of President Xi Jinping, for a summit meeting, an unusual departure from normal protocol and seen as a reciprocal gesture by the Chinese leader who was hosted by Modi in Ahmedabad when he visited India in September last year.
Key was not to be left behind and quipped that he is thankful to Modi for not raising his country's poor performance in the series so far. New Zealand were whitewashed 0-3 in the Test series and are trailing in the ongoing five-match ODI series as well.
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
If you were deputed abroad, filing income tax can be tricky.
Any company resident in a country has to pay both indirect taxes as well as Income Tax.
The retrospective tax decision reversing the January 2012 Supreme Court verdict in the Vodafone case has often been cited as the reason for foreign investors losing confidence in India as an investment destination.
'GST had to come close on the heels of demonetisation as part of the same package.'
Concluding the three-part series, Paranjoy Guha Thakurta says that the black money law is likely to fail because of the ineptness of India's investigative and enforcement agencies.
Meeting the disclosure norms isn't very easy.
The Budget sets out a comprehensive vision.
Finance Minister Arun Jaitley presented the Union Budget.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
Indian economy about to take-off
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