Picture this: you've just moved back to India after years in the US. You're still filing your US tax returns, paying tax there on your American income and now you're wondering, “Since I'm paying tax in the US, can I at least get credit for it in India?” It's a fair question. But here's the short answer upfront: No, an RNOR generally cannot claim foreign tax credit in India. Here's why, in two simple steps. 1. Tax Credit Only Exists When You're Taxed Twice — And for RNORs, You

Introduction Consider a non-resident investor who trades in futures and options (F&O) on Indian stock exchanges. Like most traders, such an investor may, from time to time, incur losses due to market volatility. At the same time, the investor may hold shares in Indian companies and earn dividend income, which is taxed at a special rate under Section 115A of the Income Tax Act,1961. A simple question arises: can losses incurred in F&O trading be used to reduce the tax payable

A recurring compliance question for employees of Indian subsidiaries of foreign groups concerns stock options granted by the overseas parent company. Where such an option has vested- meaning that the employee has become entitled to exercise it- but has not yet been exercised, does it mean that the employee holds a "foreign asset" that must be disclosed in Schedule FA of his Indian income tax return? The question matters because the answer determines whether a large number of

(“FAST-DS”) — a one-time window to regularise undisclosed foreign assets and income before 31 December 2026 1. Background The Indian Government has introduced the Foreign Assets of Small Taxpayers- Disclosure Scheme, 2026 (FASTDS 2026), a one-time amnesty scheme allowing eligible taxpayers to voluntarily disclose foreign assets or foreign income that were not previously reported, in exchange for a defined, reduced payment and- critically- automatic statutory immunity from

Typically, trusts are created to manage wealth, protect assets from creditors, and ensure smooth succession planning for intended beneficiaries. Trust is a legally secure framework for managing family property, providing for dependents, maintaining confidentiality, and achieving tax efficiency. 1. Meaning of a Trust A trust is a legal agreement whereby one person, known as the settlor (also known as the author or creator of the trust), transfers ownership of property or a

Hey NRIs! Picture this — you own a nice property back in India, and now you are planning to sell it. Exciting, right? But hold on. There is a tax twist you need to master. We are talking about Tax Deducted at Source (‘TDS’), which can feel like a sneaky speed bump on your financial highway. This guide breaks it down into simple pieces with examples to keep more cash in your pocket. Whether you are in Dubai, the US, Singapore, or anywhere else, let’s make sense of it all. Your

As many of you know, the UAE ordinarily doesn't tax personal income. For Indian citizens living in the UAE, they face a unique situation with their income earned from India. Understanding Deemed Residency India has a rule called deemed residency. If you're an Indian citizen and your income from India exceeds ₹15 lakhs in a financial year, you may be treated as a resident for tax purposes wherein you are not liable to pay tax in another country However, even then, your status

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No TDS when each buyer pays less than 50 lakhs.

A review from Tax Exceller about Transfer Pricing Documentation & CBC Reporting Provisions

A brief perspective from Tax Exceller about TDS on Non residents earning Royalty / FTS income, that has been revised under Union Budget 2023

Tax Exceller's perspective about some key Budget 2023 proposals concerning charitable trusts & institutions enjoying income tax exemptions.

Tax Exceller's perspective about how does the Budget 2023 impact Personal Taxation?

Analysis of the Union Budget 2023 by the experts at Tax Exceller.