The list of valuers registered with the Income Tax Department for valuation of immovable property is generally uploaded by the chief commissioner of income tax in charge of the particular region and can be found on the income tax website. However, it is not mandatory to obtain the value as on 1 April 2001 from … Read more
In today’s volatile financial landscape, investors are in a constant quest for higher yields without escalating risk. Traditional savings options, such as fixed deposits and government bonds, offer paltry returns, making it imperative to explore alternative investment avenues. Debt PMS has emerged as a promising solution, providing a customised approach to fixed-income investments. But what … Read more
MUMBAI : With the Union Budget expected in the second half of July, mutual fund executives are hoping for measures in four key areas that can boost their sector and invigorate the economy. Debt taxation From 1 April 2023, debt mutual funds have not got the benefit of indexation on long-term capital gains. Such gains … Read more
I am an engineer working in Saudi Arabia and have been repatriating my income to India via remittances to my Non-Resident External (NRE) account. How do I report my remittances in the income tax return (ITR)? —Jaydip Patel The Indian income tax law does not tax incomes that have been earned by a non-resident … Read more
I am a seafarer and have stayed in India for roughly 135 days and worked on an Indian-flag ship for the remaining period (approximately 230 days) in the last financial year. I receive my salary in NRE (non-resident external) account. In the last financial year, I sold some part of my ancestral land that was … Read more
I am a senior citizen and my income is between ₹3 lakh and ₹5 lakh. Will form 15H help me avoid tax deducted at source (TDS)? —Name withheld on request Form 15H is a self-declaration for non-deduction of taxes at source which can be submitted by an eligible person to the payor of specified incomes. … Read more
My son was employed in the US before moving back to India in October. He had invested in bank NRE deposits with terms ranging from one to three years while he was in the US. He is now working with an Indian company. The NRE deposits are yet to mature. Will the interest accrued in … Read more