RNOR status is a sub-set of the Resident Status.
Avoid discontinuing your SIPs. Persist for at least 7-10 years.
Fatca aims to track all US residents with non-US accounts and US citizens, too.
Dept to focus on real estate, infra, mining and manufacturing to detect evasion.
Under new government, tax office to explore ways to reduce disputes.
It is strange that the wealthy evade taxes even though the marginal utility of the money saved amounts to little and tax rates in countries, including India, have dropped
Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
Tax department sends notices saying they are liable to pay MAT.
Treaty shopping by investors to be over if island nation budges on capital gains tax.
Finance Ministry, Assocham on Tuesday sought a taxation friendly environment for the startups
To decide whether capital gains on surrender of call options are taxable
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'The deeper problem is big government -- a giant monster with a giant appetite, which requires it to put more and more pressure on tax officials to extort. 'And the monster is getting bigger by the day. But then, Mr Modi too knows this,' says Debashis Basu.
Under the amended treaty with Mauritius, for two years beginning April 1, 2017, capital gains tax will be imposed at 50 per cent of the prevailing domestic rate.
'The number of leave accumulated sometimes goes up to 300.' 'The encashed amount is equivalent to almost 10 months' salary.'
Bayern Munich president Uli Hoeness, once one of Germany's most admired soccer managers, goes on trial on Monday charged with tax evasion in a case that has shocked the nation and changed attitudes towards paying taxes.
Financial planning expert Vicky Mehta offers some valuable tips on financial planning.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
The Central Board of Excise and Customs (CBEC) has recommended an overhaul of the Special Economic Zone (SEZ) Act 2005 saying it has detected gross violations of duty and tax concessions causing it to suffer a revenue loss of Rs 1,75,000 crore to date.
Keep track of your foreign remittances to avoid giving incorrect declarations as these could be held against you.
The study suggested tax rebates for high-end technology companies that set up research and development centres in India.
Income earned by foreign technical consultants for providing monitoring services to Indian entities will be taxed at higher rate as business profits, the Authority for Advance Ruling has said. Referring to the contract between the Australian company and GAIL, the AAR said that monitoring activities undertaken by the foreign company was not within the scope of the DTAA between Australia and India. The Australian firm was acting as a project monitoring consultant.
Lee Hsien Loong, Prime Minister of Singapore, believes bilateral economic ties between his country and India can be significantly enhanced, if India builds up a stable policy regime to soothe investors' nerves. He said India should get its record straight and not indicate Singapore as a black-money hub.
The comments came after Indian Finance Minister Arun Jaitley warned of tough measures in his first budget on July 10, saying 'mindless populism' needs to be checked as India aims to boost growth.
Earlier, taxpayers were required to fill in complete details.
RediffGURUS Ashwini Dasgupta, Anu Krishna, Dr Karthiyayini Mahadevan and Jinal Mehta answer queries from Rediff readers.
Jaitley said that when cash is deposited in the banks, it loses anonymity and can be identified with its owner.
Due date is closing in and taxpayers shall pay tax and file their return well in time to avoid any interest or penalties.
Taxpayers can claim a deduction on tuition fees for a maximum of two children.
Break the chains of debt, invest in your future, and wave the flag of financial independence high. Freedom awaits, comrades. Let's conquer this battlefield together this Republic day, exhorts Vatsal Ramaiya.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Lok Sabha passes Finance Bill; Will introduce a white paper on black money in current session: FM
Of the 926 bank branches, 862 branches are of various public sector banks, while 35 are HDFC branches, 10 are ICICI Bank branches and 19 are Axis Bank branches, the Reserve Bank said.
The JWG has had eight rounds of meeting since it was set up in 2006 but no mutually agreeable solution has been arrived at.
The government may have to wait a little longer to get a trail of illegal money stashed by Indians in Liechtenstein.
'Maharashtra's asmita was crushed under Delhi's feet.' 'Marathi Manoos is definitely angry.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
