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Q: TDS deduction rules if the property is sold by NRI?

A: While for resident Indian seller TDS of 1% is applicable only if the property value is more than Rupees 50 Lakh. However, in case the seller of the property is non-resident, then TDS is applicable...

Q: Claim refund of 1% TDS deducted by the purchaser on sale of property in India?

A: The 1% TDS rule on sale of property was introduced in the 2013-14 Budget and came into effect as of June 2013. Under this rule, for any property [except agricultural land] sale that exceeds Rupees...

Q: What is the difference between NRI and OCI taxation in India?

A: The difference between NRI and OCI is that while NRIs are Indian citizens living abroad for various reasons, an OCI holder is a foreign citizen who has been granted a lifetime visa for India along...

Q: Customs duty on taking gold coins from USA to India?

A: While Indian origin passengers residing abroad for over a year are allowed to import gold jewellery up to an aggregate value of Rs. 50,000/- for men and Rs.1,00,000/- for ladies, this duty-free...

Q: Tax on Canadian pension when living in India?

A: As a Canadian citizen by virtue of the Agreement between the Government of Canada and the Government of India for the Avoidance of Double Taxation, tax on pension income is payable only in the...

Q: How much customs duty to pay if gold is detained at the airport?

A: The customs duty demanded by the authorities, the applicable rules do require that the customs duty be paid as calculated by the customs officers in India. Customs duty levied here is based on...

Q: What are the tax liabilities in India on US social security and pension income?

A: Previous residents of USA now retired and living in India and receiving social security benefits or public pensions from the US by the virtue of Article 20(2) of the Double Tax Avoidance Agreement...

Q: How to file tax in India when salary paid in USA bank accounts by employer?

A: While residential status in India does play a role in determining whether worldwide income is taxable in India, kindly be advised that: •All income received or accrued in India is subject to tax...

Q: Can gold jewelry be taken on the transfer of residence?

A: No, gold jewelry cannot be taken under transfer of residency, transfer of residence allows duty-free import of used household goods. The only duty-free allowance that can be availed when it comes...

Q: Tax liabilities for NRI returning to India

A: After moving to India, you will not be taxed on your foreign income for a few years. When you initially return to India, you would not become a resident for taxation purposes in India until one of...