Is Rental Income From India Taxable for NRIs?

Is Rental Income From India Taxable for NRIs?

Millions of Indians live abroad. And many out of them have hereditary home in India. Since it belongs to their ancestors, they don’t like to sell them. But sparing those accommodations vacant can invite eyeballs of the land-mafias who are defaulters. They confiscate property without any prior notice to the owner. This is why renting it out is the only option left to avert this problem. And also, they credit an additional benefit of rental income through it. What is…

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How to Change Name in Aadhaar While Linking With PAN Card?

How to Change Name in Aadhaar While Linking With PAN Card?

Indian central government has emphasized on linking Aadhaar Card with Permanent Account Number (PAN) Card. It has set 31st July 2017 as the timeline to do so mandatorily. Millions of tax-payers are buzzing about this new provision. Problems shoot in linking Aadhaar with PAN Card: Tax-payers are to monitor the introduced changes. Whether the tax-payer is a citizen of India or non-resident, the rule will be equally applicable on all. This amendment has triggered shockwaves amongst NRIs. Many of them…

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Is Agricultural Income from Abroad is Taxable in India?

Is Agricultural Income from Abroad is Taxable in India?

India is an agro-based country since approximately 70% of its population earns bread and butter through farming. But farming is not the only composition of agricultural income. There are many associated works that generate income, like renting out the agro-land. This facility is available for the natives of India. But an NRI can’t invest in the purchase of agriculture land or farm house in India. Let’s catch on details about the agricultural income sourced from India and abroad. What is…

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Is Extension to Exchange Junk Notes Valid for OCIs Till June?

Is Extension to Exchange Junk Notes Valid for OCIs Till June?

A few months are left to exchange defunct notes of INR 500 and INR 1000 in India. For natives, this facility has already been ceased. But non-residents would be considered as an exception. Provided that they have provided the authentic declaration of staying abroad right after 8th November for 50 days, they would be liable to enjoy grace period for exchanging that old currency. What if the non-residents knowingly make incorrect declaration? When any NRI knowingly and willfully makes declaration,…

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