General

What is E-campaign? Does It Have A Connection With Non Residents, NRIs? Income Tax Department has recently (in FY 2020-21) launched an e-Campaign, where they are seeking voluntary compliance from those taxpayers, who are either not filing Income Tax Return or reporting their transactions in their ITR inaccurately. Under e-Campaign, Department is sending Email & SMS to such taxpayers to submit their on Non-filing of ITR, High Value Transactions. E-campaign also report transactions related to Non-residents, NRIs. What are the…

New Income Tax Portal www.incometax.gov.in Launching – Easy ITR Filing In India – Fast Processing Of Refund Etc – Other Features – Benefits, Impact For NRIs, Foreign Citizens, Seafarers What Is The New Income Tax Portal? What Is Name Of New Portal? In its efforts towards making the tax procedures simplified, the Income Tax Department is launching a new e-filing portal. This will be more friendly to taxpayers. The new portal will be launched on June 7, 2021. In preparation…

Agriculture /Plantation/Farmhouse Property Purchase/Sale In India – By NRIs, OCIs, Other Foreign Citizens – Rules and Restrictions Under Foreign Exchange Laws – RBI Services Wrt Representation / Clarifications / Compounding – Delhi NCR, Mumbai, Kolkata, Hyderabad, Bangalore, Chennai, Chandigarh, Major Cities India.   Can Non Residents (NRIs, OCIs, PIOs, Other Foreign Citizens) Buy or Sell Agricultrue Property In India? Lot of Non-residents (NRIs, Foreign Citizens) wish to buy an agriculture land, plantation propery or farm house in India. However, this…

Shares, Mutual Funds Capital Gain Taxation In India What is capital gain taxation in India on sale of mutual funds and shares? Investment In Mutual Funds, Shares Sale of Mutual Funds, Shares and Capital Gains Classification of Capital Gains – As Per Holding Period of Investments Nature of Asset Short Term Capital Gain Long Term Capital Gain Listed Shares Or Equity Oriented Mutual Funds Less Than or equal to 12 Months More Than 12 Months Unlisted Shares Less Than or…

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 Supreme Court Decision of 2018 Validity of section 139AA was questioned in the court. On the same, in September 2018, 5 Judged bench of Supreme Court pronounced the…