NRIs To Pay Tax On Gifts Received From India

  As per the latest Indian budget, all the Non-Resident Indians (NRIs) living in the U.S. will be required to pay taxes on gifts received by them [...]

No more PAN woes for foreign cos?

To facilitate ease of doing business with India, the I-T Simplification Committee has stated that if a non-resident does not furnish PAN details, it should not [...]

Are you eligible for schemes under ambitious Startup Action Plan?

Many entrepreneurs were excited by the announcements made by Prime Minister Narendra Modi as part of the Startup India Action Plan. There’s no doubt the [...]

Prime Minister Narendra Modi starts up new business era with tax breaks and mega fund

The government on Saturday unveiled a raft of measures - ranging from tax waiver for three years, ending inspector raj and a mega fund — to help boost the [...]

Income Tax dept call Center to Solve taxpayers queries related to Refund, ITR V Status etc

Income Tax dept call Center to Solve taxpayers queries related to Refund, ITR V Status etc Update on CPC – Call Center To assist taxpayers a call center with [...]

Finance Minister dedicates the centralized processing center (CPC) of the Income Tax Department, Bengaluru to the Nation

The introduction of electronic filing of I-T returns, e-payment of taxes, establishment of the national network (TAXNET), and consolidation of the Regional [...]

Simple Guide – Incomes which are tax-free under the Indian Income Tax Act, 1961

Jul 29, 2009 Income Tax 1. Agricultural income: Any income which you receive as income from any agricultural activity is deemed as not included in total [...]

Implications of not filing an Indian Tax Return

One of the most important duties of an individual is to file the Income Taxes. In India the due date for filing tax return is July 31 every year, while March [...]

Special Provisions Applicable to Non-resident Indians

With a view to attract investment by Non-resident Indians (NRIs) and Indian Nationals living abroad, certain reliefs, exemp­tions and incentives have been [...]

Submission of ITR V and Issues related thereto

Jun 4, 2009 Income Tax It has been proposed under the IT Circular 3/2009 that if the return is electronically furnished under a digital signature, the [...]