NRIs are also required to have a PAN card if he/she has got a taxable income in India, In addition, to share trading and Investment in India PAN card is Compulsory.
The person making the remittance to non – resident needs to furnish an undertaking (in form 15CA) accompanied by a Chartered Accountants Certificate in Form 15CB.
TDS on Purchase of Property from NRI Section 195
When purchasing a property from NRI TDS is required to be deducted on Capital Gains and not on the Sale Price. The procedure, TDS Rate and Compliances to be taken care of are very different in case of purchase of property from NRI as compared to purchase of property from a Resident Indian. In this article; we would mainly be delineating about TDS Deduction for purchase of property from NRI.
Which are the Sources of Incomes for Non-Resident Indians can Exempt Tax?
Following various incomes of Non-Resident Indians (NRIs) shall not form part of the income liable to tax under the Act: –
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With the increasing movement of employees across countries in the past few years, it is a pertinent question you are an Indian working for one of the IT majors and have been recently transferred to the UK. Six months into the job, you are gripped with a niggling doubt will your income be taxed in the UK or India, or you will be asked to pay taxes in both the countries.
Employees are required to abide by laws of both the countries – their home country being the resident country and source country where the income arises. This would
Mahindra Finance, India’s leading rural finance company, is an NBFC whose FDs have become attractive among a section of investors because of higher interest rates. As per the company, its fixed deposits have a Crisil rating of ‘FAAA’, which indicates a high level of safety.
The capital gains 54EC bonds eligible for tax deductions can be issued by NHAI (National Highways Authority of India). Avail the opportunity to invest in 54EC bonds to gain tax deductions.