Income tax

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)
By: CA Bhavesh Panpaliya Read More »

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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💹 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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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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Income Tax Scrutiny FY 2025-26 – Notices, Penalties & Compliance Guide

Income Tax, Income Tax Return Filling /

Reading Time: 4 minutes💼 Whether you’re a salaried individual, business owner, or investor — the taxman’s radar is sharper than ever. But what’s changed, and how do you stay on the right side of the law? Let’s dive in. 1. Why have income tax authorities become more vigilant? Short answer? Data + AI = Laser focus.The Income Tax

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Tax Planning for Returning NRIs in India | RNOR Benefits, FEMA, DTAA & Compliance

Income Tax /

Reading Time: 4 minutesQ1: What determines whether your global income is taxable in India? A: The residential status under the Income Tax Act, 1961 is the primary determinant.  There are two key classifications:Resident and Ordinarily Resident (ROR):Stayed in India for 2 out of 10 previous years, ANDSpent 730+ days in India during the past 7 years.From FY 2020-21:

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How to Save Capital Gains Tax on Property Sale in India (With Real Case Study)

Capital Gain, Income Tax /

Reading Time: 4 minutesIf you are planning to sell your property in India, the Capital Gains Tax can eat into a big part of your profits. However, the Income Tax Act, 1961 provides several exemptions that can help you reduce or even eliminate tax liability—if used smartly. In this article, we will explain how one couple legally saved

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