Why do you need to file Form 15CB & 15CA? While making payment overseas remitter of funds needs to follow some procedures and rules. These compliances not only bind an individual but banks and financial institutions also need to follow some regulations. These forms(Form 15CB & 15CA) help Income tax department in tracking taxable amount …
There are so many questions in the mind of an NRI seller when he is selling any property (commercial as well as residential) in India. After all, all his hard earned income is at stake. Obligation for TDS arises at the time of sale of property in India. The TDS rules are even more complex …
Tax implications can seem to be little complicated when it comes to sale of property and becomes more complex if there is involvement of NRI seller. But after reading this article, most of your confusions will come to a happy ending. Capital Gains Tax provisions are applicable to every individual who sells any assets in …
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Tax season is here and you must be wondering whether to file the tax return or not. So for those who are of the view that filing ITR is not an obligation as their income falls in tax exemption category, the following benefits of the same can be big thought changers. Income tax return gives …
NRI Tax Filing in India This article is dedicated to NRIs( Non Resident Indians). First of all, we should know who are NRIs? So, before heading towards knowing the concept of Tax return filing, let us first get an insight into who NRIs are? Concept of NRI The Income Tax Act, 1961 defines a non-resident Indian …
What is PAN card? PAN, or permanent account number, is a unique 10-digit alphanumeric identity allotted by Income Tax Department to every tax payer. It is required to quote PAN in tax returns and other financial transactions such as buying or selling properties in India or repatriation of funds overseas etc. PAN card is also used as an Identification …
