india-budget-2020-impact

Budget 2020 Impact On NRIs, OCIs, PIOs, Expatriates Residential Status

Budget 2020 Impact on Residential Status of NRIs, OCIs, PIOs and Other Indian Citizens Budget 2020 proposed three changes in Residential Status of Individuals. These new provisions of Budget 2020 will put a direct impact on the residential status of NRIs, OCIs, PIOs, Expatriates, Seafarers, other Indian citizens etc. Here is an analysis (by our NRI Tax Team) of the new proposals: Budget 2020 Amendment 1 – NRIs PIOs Stay in India 181 Days Reduced to 119 days Particulars Earlier…

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Aadhaar PAN Linking – Provisions, Applicability & Impact On NRIs, Foreign Citizens Etc

Aadhaar PAN Linking – Provisions, Applicability & Impact on NRIs, Foreign Citizens Etc In the Budget 2017, Govt of India has introduced a new section 139AA in the Income Tax Act, 1961. This new provisions has made it mandatory for individuals to link their Aadhaar with Permanent Account Number (PAN). Section 139AA Every person, who is eligible to obtain Aadhaar number, shall quote Aadhaar in PAN Application as well Income Tax Return. Where a person does not possess the Aadhaar…

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India Tax & Business Reforms 2019 – Impact On Corporates, Businesses, Foreign Companies, FDIs, GST, Individuals, NRIs, Non-Residents

India Tax & Business Reforms 2019 – Impact On Businesses, Residents & Non Residents India Tax & Business Reforms 2019 – Impact On Corporates, Businesses, Foreign Companies, FDIs, GST, Individuals, NRIs, Non-Residents. Recently, the Finance Minister of Govt of India and GST Council of India have announced some major economy boosters to revive India Economy and attract Foreign Investment in India into Manufacturing and other sectors. In this article, you will know India Tax & Business Reforms 2019 impact on…

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Nri Law Updates

Nri Law Updates Income Tax Appellate Tribunal Cochin – The DCIT (International Taxation) Kochi vs K E Faizal – STCG On Equity Oriented Mutual Fund Not Taxable in India: Indo-UAE Treaty – July 8, 2019 Assessee, an individual (NRI), resident of UAE, a non-resident in relevant AY ie 2012-13 in India, derived income from short term capital gains (STCG) from alienation of Equity Oriented Mutual Fund Units. AO considered that it is taxable in India under clause 13(4) of Indo-UAE Tax…

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New NRI or Recently Migrated NRI – Indian Laws

New NRI or Recently Migrated NRI – Indian Laws For their good, many Indian citizens leave the country and go abroad. These person find an employment abroad. A prevailing term for them is Non-Resident Indians (NRIs). And once the get a citizenship of the other country they called as Overseas Citizens of India (OCIs) or Person of Indian Origin Residing Abroad (PIOs). While leaving India and/or during living abroad, there are various procedures and compliances, which these NRIs need to…

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India Budget 2019 Proposals – Impact on NRIs, OCIs, PIOs, Non-Residents

India Budget 2019 Proposals – Impact on NRIs, OCIs, PIOs, Non-Residents The Finance Minister of Govt of India, Smt Nirmala Sitharaman, presented her first budget on July 5, 2019. There are various proposals in this budget, which are going to put an impact on Indian Citizen living/working abroad ie Non-Resident Indians (NRIs) and Foreign Citizen of Indian Origin ie Person of Indian Origin (PIOs or also called as OCIs). Hereunder, is a brief analysis prepared by CA S Lohia &…

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S Lohia & Associates Chartered Accountants 
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