Amendments in Faceless Penalty Scheme were introduced after a cycle of litigation where the court had suppressed Income Tax Notices and the Assessment Orders for not awarding personal hearings to the respective taxpayers.... Read More
The income tax department has the authority to scrutinize the residential status of all the Non-resident Indians. They keep sending a notice to such individuals to... Read More
The two major reasons for the delay of your income tax refunds could be Defect in the Data of Income tax return filed, mismatched bank account though in some cases it could be just delay on part of income tax department... Read More
Though the world is running at the speed of light with the technological advancements, there still are some aspects that require some update. It includes... Read More
Investing in real estate properties is so rewarding. But it can also be an intimidating venture – with so many risks involved. However, with the... Read More
As the year is coming to an end, it is a good time to evaluate how the Covid-19 situation affected the financial market. With lockdown... Read More
Taxpayer have nothing to worry about as long as they follow and carry out the processes properly. As a taxpayer, you need to be careful while going through the different transactions listed in the Annual Information Statement.... Read More
No, only NRI/OCIs are permitted to invest in a business or proprietary concern in India. However, a person residing outside India who is not an... Read More

NRI/OCI cannot invest in a corporation or sole proprietorship involved in agricultural/plantation activities, print media, or real estate. Contributions to capital in a firm/LLP/proprietary concern... Read More
A recent tax ruling stated and reaffirmed the fact that gifts from Hindu Undivided Family or HUF to any member is outside of the taxation... Read More