Ask, Answer & Discover

Latest Questions

Q: What are the wealth tax rules for an NRI in India?

A: As of March 31,2010 the threshold limit for wealth tax was raised from Rs. 15 lakhs to Rs. 30 lakhs. Furthermore The Indian Finance Minister, Mr. Pranab Mukherjee has proposed in the draft direct...

Q: What are the current wealth tax rules for an OCI if his assets are are owned in abroad?

A: As per the Wealth Tax Act, assets and debts located outside India shall not be included in the net wealth of an individual who is not a citizen of India. The residential Status in this case does...