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TAX NOTICE NRE
Salary from South Korean employer credited to NRE account triggers income tax notice; ITAT Bangalore gives employee reliefEmployee gets income tax notice over salary received in NRE account from South Korean employer; ITAT Bangalore gives him relief. Know what ...- NRI investing in India? Wrong KYC documents can delay your investment; know what you needNavigating the KYC process for NRIs investing in India can be complex, requiring specific documents and verification steps. From ensuring d...
- My NRI status changed. Will interest earned on my NRE FDs be taxable in India?ET Wealth reader's query: I was an NRI until FY2024–25. After relocating to India, my residential status changed to ‘resident’ from FY2025–...
- Rs 1.09 crore remittance sent home by an Indian working in Kuwait, but he didn't file ITR, received income tax notice; gets relief in ITAT AhmedabadIndian man working in Kuwait oilfields, got his salary in National Bank of Kuwait, remitted Rs 1.09 crore back to family in India, files no...
- NRO account for NRIs: Which funds can be deposited, tax on interest and repatriation rulesFor NRIs, establishing or converting an existing bank account is vital upon confirming non-residence status. An NRO account facilitates the...
- Rs 41 lakh cash deposit but no ITR: Bengaluru man claimed his wife and father paid his expenses; ITAT Bangalore refuses relief on this groundWaseem Ahmed, accountant member and Keshav Dubey, judicial member of ITAT Bangalore, in a recent judgement refused to condone a delay of ab...
- NRI used NRE account to buy Rs 79 lakh property, got ‘unexplained cash’ tax notice; ITAT Ahmedabad grants full reliefNRI used money from his NRE bank a/c to buy property for Rs 79 lakh, files no ITR; tax dept sent notice for unexplained cash; he wins case ...
- 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...
- Salary earned overseas, deposited in Indian NRE a/c: Why ITAT Ahmedabad quashed tax department’s noticeAn NRI man earned Rs 44 lakh salary abroad and deposited it in his NRE account. The Income Tax Department issued a notice, but the Income T...
- NRIs returning to India: 6 tax mistakes that can haunt you years later & how to avoid themReturning Indians face significant tax challenges, often experiencing 'return shock' due to complex rules on residency, overseas income, an...
- Rs 80 lakh gift from brother-in-law lands man in tax trouble; here’s how he won the caseA UAE resident received Rs 80 lakh as a gift from his brother-in-law. The tax department issued a Rs 69 lakh tax demand. However, the Incom...
- Taxpayer fights and gets big relief against Rs 2.28 crore income tax notice; ITAT Ahmedabad reduced it to only Rs 63,000A person faced a Rs 2.28 crore tax notice for unexplained income. After filing an ITR declaring Rs 3.83 lakh, the tax department added the ...
- Taxpayer deposits Rs 20 lakh in NRE bank account, skips ITR; income tax dept issues notice but he wins in Gujarat High Court for this reasonAn Indian expatriate successfully challenged an income tax notice for Rs 20 lakh deposited in his NRE account. The Gujarat High Court ruled...
- ICICI Bank branch manager forged signatures, siphoned off 'Rs 11.95 crore' by transfer and cash, alleges the customer; case in EOW's netICICI Bank branch manager commits fraud: A branch manager of ICICI Bank has forged the signature of a customer with the intention to commit...
- Tax queries: After resignation, interest on PF corpus is taxableDilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies.
- Under the scanner: 50 NRIs receive ED notices over bank transfersOver a period of time they have invested in properties, fixed deposits, stocks here. They either redeem these investments or sell them and ...
- NRIs under ED Scanner over fund transfers in NRE accountsEven though NRIs do not have to pay tax for their earnings or funds abroad, none of them can afford to disregard the notices as long as the...
- Fifteen stocks in focus on Thursday, 15 September 2016The Indian market is expected to open flat with a negative bias. Here is a list of top fifteen stocks that are likely to be in focus today.
- JSPL to acquire majority stake in Gujarat NRE Coking CoalJSPL will acquire a majority stake of 53.63 per cent in Gujarat NRE Coke's loss-making Australian subsidiary through a complex deal.
- NRIs betting big on MFsFor NRIs deeply interested in new fund offers (NFOs), or even existing open-ended funds, it is important to check out the tax implications ...
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