Step-by-Step Tax Planning for the NRI Seller of Agricultural Land

Capital Gain, Income Tax, NRI /

Reading Time: 3 minutesHere’s a practical and legally sound tax planning strategy for an NRI who has sold agricultural land in India considering:• They deposited the capital gain in CGAS under Section 54B, but• FEMA restrictions prohibit them from buying agricultural land, and• They wish to explore alternatives to reduce or avoid tax legally. 🔁 Step-by-Step Tax Planning […]

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🟦 Are Mutual Fund Gains Tax-Free for NRIs in India? ITAT Says Yes (In Some Cases)
By: CA Bhavesh Panpaliya

Income Tax, NRI /

Reading Time: 3 minutes💬 Q1. What’s the buzz around this new ITAT ruling for NRIs?A: The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) delivered a game-changing verdict:🔑 Capital gains earned by NRIs from redeeming mutual fund units in India are not taxable in India—if a favorable tax treaty applies.Sounds like good news, right? Especially if you’re

🟦 Are Mutual Fund Gains Tax-Free for NRIs in India? ITAT Says Yes (In Some Cases)
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HUF A Tax saving Tool For Salaried Person?

Uncategorized /

Reading Time: 3 minutesWhat is a Hindu Undivided Family (HUF)?A Hindu Undivided Family (HUF) is a separate legal entity recognized under Indian tax law, allowing families following Hindu, Jain, Sikh, and Buddhist laws to collectively own property and manage income. It serves as a tool for family wealth management and potential tax optimization. What is the difference between

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What happens to maturity proceeds from IFSC insurance policies for NRIs?

Uncategorized /

Reading Time: 3 minutes1️⃣ What happens to maturity proceeds from IFSC insurance policies for NRIs?👉 Answer: From 1st April 2025, if you hold a life insurance policy issued by an insurer in an IFSC (like GIFT City), the maturity proceeds will be 100% tax-exempt in India—provided the annual premium never exceeds 10% of the sum assured.🔑 Key Insight:

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⚖️ GST on Legal Services in India: Everything Lawyers & Client

GST /

Reading Time: 3 minutes1 How are legal services generally taxed under GST?Answer:Legal services by individual advocates or law firms (including LLPs) are taxable under Reverse Charge Mechanism (RCM) when provided to GST-registered business entities.Quick Example:🔹 Advocate Shreya provides legal advice to XYZ Pvt Ltd (a GST-registered company).Here, XYZ Pvt Ltd—not Shreya—will pay GST directly to the government under

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💹 US Stock Investments: Taxation Rules for Indian Residents Explained

Income Tax /

Reading Time: 3 minutesInvesting in US markets has become popular among Indian residents thanks to platforms offering direct equity, ETFs, and mutual funds abroad. But how are these investments taxed in India? Let’s break it down in a simple Q&A style with practical insights. 1. How are investments made in the US market treated for taxation in India?👉

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Composition Scheme: Who Cannot Opt & Why It Matters

GST /

Reading Time: 3 minutes🤔 Q1: My turnover is under ₹1.5 crore. Am I automatically eligible for the Composition Scheme?A: Not necessarily! While low turnover is a key requirement, certain types of businesses are always excluded, regardless of turnover. 🚫 Q2: Which businesses are always excluded from the Composition Scheme?A: If you’re into manufacturing the following specific goods, you’re

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NRI Income in Indian Bank Accounts – Taxable or Not?

Income Tax, NRI /

Reading Time: 3 minutesThe taxation of overseas income for NRIs is one of the most debated topics in Indian tax law. Let’s break it down in a Q&A format with practical examples and simple explanations. 1. What is the central issue concerning NRIs and their overseas income in Indian bank accountsThe main question is: Does income earned abroad

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Freelancer & Influencer Taxation in India | Sec 44ADA Guide

Income Tax /

Reading Time: 3 minutesLearn how freelancers & influencers in India are taxed. Income rules, Sec 44ADA presumptive taxation, expense deductions & common tax mistakes explained. Freelancers and influencers in India are booming in today’s digital economy. But with great income comes the responsibility of proper tax filing. Whether you’re earning through freelance projects, YouTube ads, Instagram brand deals,

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Are Gifts from Step-Siblings Taxable? ITAT Mumbai Ruling Explained | Income Tax Guide 2025

Capital Gain, Income Tax /

Reading Time: 3 minutesMumbai ITAT rules gifts from step-siblings are not taxable under Section 56(2)(vii)(b). Learn the case facts, tax impact, FAQs, and practical insights for Indian taxpayers. 🧾 Q1: What’s the core dispute in this case?A: The heart of the matter was whether a gift of property worth ₹7.88 crore from a step-sister to her step-brother should

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