For tax purposes, I was an non-resident India (NRI) for 6 years (FY2009-10 to FY2014-15). Then, I spent most of the last 2 financial years in India. As a result, for tax purposes, I attained not ordinarily resident (NOR) status for two financial years (FY 2015-16...
Non-Resident Indian or NRI under the Income Tax Act, 1961 (IT Act) is tied to number of days of an individual’s stay in India during a particular financial year. Residential status is determined for every year separately. India includes territorial waters of India and Employment includes self...
SEP introduced in the Income-Tax Act, 1961 (‘ITA’) from April 1, 2018 It expands the scope of income of a non-resident which accrues or arises in India that results in a ‘business connection’ in India for that non-resident. The resulting income, attributable to the SE...
NRI (Non-Resident Indian) Services Caonweb will help NRIs by: Determining residential status Compliance with various laws such as Income Tax , Wealth Tax etc. Help in issue of PAN card, Digital signature Income Tax Return Filing and advice on reducing tax liability in India Advise on tax ...
Status (Whether Individual, Company, Firm etc.) of the assessee; PAN of the assessee, if allotted; Nationality (in case of an individual) or country or specified territory of incorporation or registration (other than individuals); Assessee's tax identification number in the in the country of...
Taxpayers in India will need to file income tax returns for Assessment Year 2023-24 by 31st July, 2023. Get the tips to meet the due date on time.
Non-Resident Individuals (NRI) Income Tax Slab Rates For the fiscal year 2020-21 (AY 2021-22), non-residents will be able to pick from a range of income slabs. Income Tax Slab for BOI, AOP, Artificial Juridical Person In comparison to last year, there has been no change in the income...
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“We have got full sovereign right to take consideration of the income from India property for those NRIs. I am not taxing what the NRI is earning elsewhere,” the Finance Minister told IANS in an interaction on Sunday. The Union Budget 2020 proposed to tax Indians who are not residents ...
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