Foreign tax credit

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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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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Foreign Tax Credit (FTC) in India – Complete Guide for Residents 2025

Income Tax /

Reading Time: 4 minutesLearn how Indian residents can claim Foreign Tax Credit (FTC) to avoid double taxation on global income. Covers eligibility, DTAA rules, Form 67 process, refund adjustments, and official documentation requirements. 📘 Foreign Tax Credit (FTC) for Indian Residents: Your Ultimate Guide 🌍 Working or investing abroad? You might be paying taxes in both countries! Thankfully,

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