I have been a non-resident Indian (NRI) for many years and have invested in Indian stocks using income earned abroad, deposited in my NRE account. In FY25, I sold some shares and made capital gains, but my AD (authorized dealer) banker deducted TDS on the gains. I thought income from NRE accounts was exempt from … Read more
I filed my income tax return (ITR) as a non-resident Indian (NRI) and it has been processed. If I want to revise the ITR before 31 December do I need to file an updated ITR? I forgot to show some interest income that is taxable at 12.5% under a double taxation avoidance agreement (DTAA). – … Read more
My son resides in the US, whereas I stay in Pune. My son owns two house properties in Pune. Can I pay municipal taxes on his behalf for those properties? —Name withheld on request I assume that your son is a non-resident since he resides in the US. According to Foreign Exchange Management Act (Fema) … Read more
I am living and working in the UAE for the past five years. I do cryptocurrency trading locally and I have cryptocurrency balances in my private wallet. A person in India is asking to buy Ripple and Etherium from me on a P2P basis, and the proceeds will be credited into my NRO (non-resident ordinary) … Read more