NRI Blogs

Finance Bill, 2023 1. Proposed Changes in Tax Rates In the alternate tax regime under Section 115BAC, a revision to the basic exemption limit and the number of slabs has been proposed. The revised basic exemption limit shall be INR 3,00,000 and for every additional INR 3,00,000 of income, the next slab rate will be [...]

There are very few options to claim deduction under Income Tax Law. One important deduction which NRIs can also claim while filing their tax return in India is related to healthpremium paid for health insurance for self, spouse, dependent children and parents. Let’s discuss this in detail. Deductions are introduced in Income Tax Act to [...]

I have seen many NRIs are getting notice under section 148A by Indian Income Tax authorities. In case they don’t reply to this notice within a specified time, they end up getting a notice under section 148 in which the assessing officer has reasons to believe that such an individual’s income chargeable to tax might [...]

I get many enquiries from our NRI clients that their mutual fund brokers are asking them to update their NRI status with Indian income tax department. Also, income tax department is also sending them emails on regular basis to link Aadhaar with the PAN. But no one is telling that what actions NRIs should take [...]