Tax implications

Returning to India from abroad? What to know about bank accounts and taxation

September 16, 2024 by djsaavn_jvd36z

I am a non-resident Indian working abroad. I plan to return to India and live and work here for at least a few years. Am I allowed to keep my local Indian bank accounts? Do I need to open non-resident external (NRE) or non-resident ordinary (NRO) accounts? Should any income from India be deposited only … Read more

Can a single coparcener maintain HUF status? Tax implications explored

September 12, 2024 by djsaavn_jvd36z

A HUF consisted of a father, his wife and their son. The wife passed away in 2010, but the HUF continued with the father and son as members. Differences arose between the father and the son. The son was allotted specific properties and separated himself from the HUF. No order was sought from the Income … Read more