If you reside in India for work for more than 182 days in a fiscal year, you become a resident. But if you have been a non-resident in India in nine out of the 10 preceding fiscal years or have been in India for 729 days or less during seven preceding fiscal years, you qualify…
I was born and raised in Dubai and currently reside in the UAE, where I run my own business. I still hold an Indian passport. I want to donate to an NGO in India, in which one of my relatives is a trustee. Do I have any tax or other reporting obligations in India? -Name…
My relative has gifted me some amount in my NRO (non-resident ordinary) account from her NRO account. I want to transfer this amount to my foreign bank account. Do I have to obtain CA certificate for this transfer too? -Name withheld on request. Form 15CB is required to remit funds from an NRO account to…
I have incorporated an IT company abroad. I want to transfer money to my own account abroad and give a loan to my company outside India. Can I avoid TCS by doing this? -Name withheld on request. Tax collected at source (TCS) is applicable on all remittances made under the Liberalised Remittance Scheme (LRS), as…
Non-resident Indians play a vital role in India’s economic and social progress, significantly contributing to the country’s growth through remittances, investments, entrepreneurship, and international trade. As the Union Budget for 2025-26 approaches, NRIs will be looking for clarity on certain rules as well as incentives and reforms that could strengthen their contribution to India’s economic…
I am a non-resident Indian (NRI)) and have my own business in Dubai. I have invested in shares as well as mutual funds in India. I have received dividend on shares and mutual funds. Can I get any benefit of lower taxation under treaty for dividend income? —Name withheld on request Under the India-UAE Double…
