Tax calculation: In Budget 2025, the Finance Minister announced that no income tax is payable up to an annual income of Rs 12 lakh, providing a tax rebate for individuals earning up to this amount. The tax slabs for different income brackets have been updated, with those earning between Rs 4-7 lakh now required to pay … Read more
A popular investment choice among non-resident Indians (NRIs) is fixed deposits (FDs). This investment option is user-friendly, offers guaranteed returns, and adheres to transparent regulations. During its December Monetary Policy Committee (MPC) meeting, the Reserve Bank of India raised the interest rate cap on Foreign Currency Non-Resident Account FCNR (B) deposits to overnight Alternative Reference … Read more
Income Tax Returns FY24: The Income Tax department has asked non-resident Indians (NRIs) to give sworn statements on the exact number of days spent in India, a report said on Tuesday. This comes after the department recently sent numerous advisories to NRIs asking them to verify high-value transactions made in 2022-23 and to address any … Read more