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Hong Kong-based son gets tax notice after father buys insurance policy in his name with cash; he fights back and wins case in ITAT MumbaiAn NRI in Hong Kong faced an income tax dispute after withdrawing cash from his NRE account to give to his father. The father used this mon...- Forex violation case: ED summons Niranjan Hiranandani, Dubai-based son on MondayThe agency has registered a case against the Hiranandanis and group entities under the Foreign Exchange Management Act (Fema), they said. O...
- Priyanka Gandhi's name comes up in Thampi money laundering charge sheet for first timePriyanka Gandhi is now in the Enforcement Directorate's sights in the money laundering case involving UAE-based NRI businessman CC Thampi, ...
- When are gifts received by NRIs subject to tax, TDS in India?What would be the taxability of the gifts received in India by a Non-Resident Indian (NRI) for income tax purposes? Read on to find out. Fu...
- I have a monthly recurring deposit of Rs 20,000. Will I have to pay income tax annually?There is an option available to offer interest income for tax on accrual basis or receipt basis, at the discretion of the assessee. In case...
- Air India bidding process: All you need to knowThe deadline for submission of expression of interest (EoI) for the beleaguered national carrier Air India ends at 5 pm on Monday. In Octob...
- Can a US citizen invest in mutual funds in India?Yes, a US citizen can invest in mutual funds and other financial products such as NRI fixed deposits, stocks and more, subject to prescribe...
- Was given Rs 149 crore for safekeeping: Zakir Naik’s aideGazdar holds 5% stake in Naik’s companies Longlast Constructions Pvt Ltd and Harmony Media Pvt Ltd, and is a 50% shareholder in his two oth...
- Yellow metal no longer red hot for visiting non-residentsJewellers said purchases by NRIs have fallen 30-40% after the government said jewellery or ornaments bought with explained sources of incom...
- Expert answers income tax queries from ET readersThe gift given to son or daughter by you will not be taxable in their hands. There is no limit to the amount which you can gift to your son...
- Beating black money crackdown: How promoters are finding methods to avoid declaring cashSome promoters are abandoning their Indian citizenship. Others have persuaded children to become NRIs so they can manage funds stashed abro...
- NRIs should re-balance portfolio, focus on financial assets to ease the pain of returningReturning NRIs should build wealth with that relocation in mind. Assets, skills, and attitudes should align with the relocation strategy.
- Pots and pans to piggy banks: Funding of AAP for changing IndiaThe donations in cash and kind that fuelled the party came from the aam aadmi. For donors, it was akin to "supporting a social movement.
- Suspended Raj Kundra in philosophical moodShocked at BCCI's decision to suspend him, Rajasthan Royals co-owner Raj Kundra today seemed to be in a philosophical mood.
- Financial planning: Importance of life insurance for NRIsInsurance can play a critical role in ensuring long-term financial security of the NRI, his family as well as his dependents who may be res...
- Importance of life insurance for NRIsLife insurance products can help address an array of financial needs and goals of an NRI as they can be customized for specific purposes.
- NRI with multiple assets in India? How to deal with wealth tax obligationsIf you are an NRI with net wealth from assets in India aggregating more than Rs 30 lakh in a year, you may be liable to pay wealth tax.
- Recession a rude wake-up call for NRI-rich villagesGlobal financial crisis, Dubai trouble force the dollar-dirham rich NRIs to dip into reserves built on emigrant money. NRI investments | Wh...
- ArcelorMittal brass to take 15% pay cutNRI billionaire Lakshmi Niwas Mittal, along with his son Aditya and daughter Vanisha, will see a 15% decline in salaries for their roles at...
- NRI's house burgledThe house of an NRI Amar Chand was burgled and valuables were looted from the house, police said. The burgled items included golden ornamen...
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