RBI/2015-16/216 A.P. (DIR Series) Circular No. 24 October 29, 2015 To, All Authorised Dealer Category – I Banks Madam/Sir Subscription to National Pension System by Non-Resident Indians (NRIs) Attention of Authorised Dealers Category – I (AD Category – I) banks is invited to the Foreign Exchange Management (Transfer or Issue of Security by a Person… Read More »
ACQUISITION AND TRANSFER OF PROPERTY IN INDIA ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY IN INDIA 1.1 Background Restrictions in respect of acquisition and transfer of immovable property in India by non-resident are covered in Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000. Instructions are consolidated in RBI Master Circular No.… Read More »
Double Taxation Avoidance Agreement or DTAA is an agreement between two countries which aims to avoid taxation of the same income in both countries. India has signed the DTAA with several countries. During assessment of an assessee to whom DTAA applies, the provisions of the Income Tax Act apply only to the extent they are… Read More »
How NRIs can claim tax benefits under DTAA Double Taxation Avoidance Agreement or DTAA is an agreement between two countries which aims to avoid taxation of the same income in both countries. India has signed the DTAA with several countries. During assessment of an assessee to whom DTAA applies, the provisions of the Income Tax… Read More »