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Latest Questions

Q: What are the tax implications for NRI clients?

A: The dividends of each and every scheme are tax-free for the NRI clients. While long-term capital gains (equity) are tax-free, whereas for short-term capital gains (equity) 15% tax has to be paid....

Q: Is there a double taxation for NRIs for investing in India?

A: No, if India has signed the avoidance of Double Taxation Avoidance Agreement treaty (DTAA) with the respective country. India has signed this treaty with the US & Canada, so any tax paid in India...

Q: What is the taxation for NRIs in India for investing in Indian mutual funds?

A: Taxation for NRIs in investing in Indian Mutual Funds is the same as taxation of resident Indians. The only difference is that there are a 10% TDS for NRIs at the time of redemptions. Equity...

Q: Is interest income on RFC deposits taxable?

A: Interest income on RFC deposits is taxable and the exemption is available for returning Indians, subject to IT regulations.

Q: What is the time taken to issue tax exemption certificates?

A: Normally the Exemption Certificate is issued within 10-25 Days.

Q: Who can apply for a tax exemption certificate?

A: Any Non-Resident Indian from whose Income the Tax is likely to be deducted at source can apply to obtain an exemption for tax deduction provided his/her taxable Income in India is less than...

Q: What is a tax exemption certificate?

A: The TDS rate prescribed from NRI’s income is the maximum rate at which relevant income is taxable in India. But the actual tax liability is lower than this. However, the higher deduction of tax...

Q: Is there any tax concession available for NRIs?

A: NRIs have been offered a separate concessional tax regime in respect of certain types of income. A concessional tax of 20% is available in respect of investment income and 10% in respect of...

Q: What is the time limit to file the return of income?

A: Every person who is not carrying on business is required to submit the return of income by 31st July every year for the income earned during the prior year ending 31st March provided his income...

Q: Is it necessary for NRIs to file a return of income in India?

A: For any individual, Resident or an NRI, there is no legal obligation to file the income-tax returns in India unless the taxable income exceeds the minimum tax threshold of Rs.50, 000. The only...