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JAYANTILAL THAKKAR
Residents tempted to gatecrash FCNR party for NRIsWealthy Indians are finding ways to benefit from a new foreign currency deposit scheme. They are sending money to NRI relatives as gifts to...- Income Tax dept seeks details from NRIs, offshore firms on unlisted share deals, flags valuation and fund source concernsIndia’s tax department has asked NRIs and offshore entities to justify investments in unlisted shares, seeking details on fund sources and ...
- HNIs eye Greece residency as alternative to Dubai optionAffluent Indians are increasingly eyeing Greece as a destination for permanent residency. The motivations behind this trend include evolvin...
- ED flags Indians buying Dubai properties using credit cardsThese property buyers had either swiped international credit cards (ICCs) on visits to the Emirates to pay the initial deposit or had click...
- Banks tighten scrutiny on overseas investments amid falling net FDIBanks are closely watching Indian companies' foreign investments. They are asking more questions about the purpose and success of these ven...
- Banks police business card swipes, ask users to swear off misuseBanks are tightening the rules for corporate credit cards following regulatory concerns. Users must now declare that these cards will only ...
- Taxman sends tough questions to individuals on political donationsThe income tax department scrutinizes donations of ₹5 lakh or more made to little-known political parties during FY 2020-21, suspecting mon...
- Study abroad turns into stash cash abroad; RBI takes noteThe RBI is scrutinizing the misuse of a 2003 rule allowing Indian students abroad to be treated as NRIs, which enables large overseas fund ...
- UK asks govt to recover tax from Indian bizmanThe British tax office has requested India to recover unpaid taxes from an Indian businessman now settled in India, utilizing an uncommon t...
- Sell Balkrishna Industries, target price Rs 2092: HDFC SecuritiesHDFC Securities has issued a sell recommendation for Balkrishna Industries with a revised target price of Rs 2092. Despite strong volume gr...
- Money laundering probe: ED to shoot off notices to uncover realty of DubaiMany Indian high net worth families have been swept up in the frenzy of the Dubai realty market where developers threw in lucrative offers ...
- No country for rich men! UK rule spawns 'tax travellers'UK-based Indian families including millionaires and recent migrants are planning to split their time across multiple countries to avoid a n...
- India-focused offshore funds under ED scanner for rule violationsThe Enforcement Directorate (ED) in India is investigating wealthy individuals who have been investing in offshore funds that primarily inv...
- HNI investors in offshore ‘blank cheque’ companies receive income tax noticesMany resident Indians who bought SPAC shares haven’t disclosed such investments in ITRs. SPACs are established solely to raise capital thro...
- Insurers' intermediaries get I-T notices under benami law over alleged fund routing violationsOver the past one week, some companies acting as agents and marketing intermediaries of insurance companies have received notices under the...
- Tax and disclosure norms: NRIs asked to state number of days spent in IndiaUnlike residents, NRIs are not required under the law to pay tax on overseas earnings or declare foreign assets. However, if they overstay ...
- I-T uses fine-tooth comb to nab both employers & employees for TDS-claims mismatchThe Income Tax (I-T) department is using a fine-tooth comb to nab discrepancies in the tax deducted at source, or TDS, by companies and the...
- Taxpayers slapped with unexpected notices for old tax demandsTaxpayers in India are receiving notices from the Income Tax department for old tax demands, some dating back more than 15 years, that have...
- Taxman takes affidavit route to uncover undisclosed foreign assetsTill now many bought time and tried to dodge the tax office by denying ownership or links with any overseas assets with false submissions, ...
- Several minors get I-T notices as parents transfer money abroadMany affluent individuals transferring funds abroad to run bank accounts and acquire properties or stocks abroad under the Reserve Bank of ...
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