The Income Tax Department, leveraging advanced database systems, now captures various financial transactions of taxpayers, including Non-residents (NRIs, OCIs). Despite assumptions that foreign source funds aren't taxable, the absence of Indian Income tax filings prompts the department to verify potential tax evasion and the sources…
Taxation implications for Indian citizens residing in the UAE under both Indian tax laws and UAE tax laws. Section 6(1A) was introduced in the Indian Income Tax Act to determine the residency status of Indian citizens who leave India for employment or other purposes. Here's what it states: Residency Rule for…
We are very happy that we were able to get a favourable order against Income Tax Notice which was served on our client. The case involved huge assessment order passed by the income tax department against the client for trading in cryptocurrency namely Bitcoins in…