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Who qualifies as a Seafarer or Merchant Navy Worker in Income Tax Act? To begin with, it is fundamentally important to clarify that the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’), does not strictly define or recognize specific occupational terms such as…
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Non-Disclosure of Foreign Assets in ITR – Black Money Act & Tax Implications – NRIs, Returning NRIs, Resident Indians A significant number of individuals who fall under the diverse categories of Non-Resident Indians (NRIs)—particularly those specifically known as "Returning NRIs" who are permanently relocating back…