No TDS on sum paid for repairing of aircraft where the fees are payable in respect of services utilised in a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India Q; When Assessee engaged in wet leasing of aircrafts to foreign… Read More »
CA Certificate not required for certain remittances: Govt Press Information Bureau Government of India Ministry of Finance 07-August-2015 17:45 IST Modifications in Foreign Exchange Regulations Government has recently modified the Foreign Exchange Management (Current Account Transactions) Rules, 2000 and the Liberalized Remittance Scheme (LRS) for resident individuals for further liberalizing the existing guidelines. Accordingly, all… Read More »
Long-term capital gain from sale of house property by NRI isn’t tax free and is liable to TDS under Sec. 195 IT/ILT : Resident-firm which buys house property from NRI cannot escape consequences of non-deduction of TDS u/s 195 from payments to NRI-vendor by claiming that long-term capital gains from sale of house property by… Read More »