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What is the Advance Ruling Mechanism?
The Advance Ruling Mechanism allows taxpayers to seek clarity on tax liability on transactions beforehand to avoid disputes and litigation.
The Advance Ruling Mechanism allows taxpayers to seek clarity on tax liability on transactions beforehand to avoid disputes and litigation.
See lessWhat are the common ways to resolve tax disputes in India?
Common methods include filing an appeal with the Commissioner of Income Tax (Appeals), the Income Tax Appellate Tribunal (ITAT), High Courts, and the Supreme Court.
Common methods include filing an appeal with the Commissioner of Income Tax (Appeals), the Income Tax Appellate Tribunal (ITAT), High Courts, and the Supreme Court.
See lessWhat is the impact of the Foreign Account Tax Compliance Act (FATCA) on NRIs?
FATCA requires NRIs to report their foreign financial assets and comply with reporting requirements to avoid penalties.
FATCA requires NRIs to report their foreign financial assets and comply with reporting requirements to avoid penalties.
See lessHow can NRIs claim relief under DTAA?
NRIs can claim relief by providing a Tax Residency Certificate (TRC) from their country of residence and applying for tax credits or exemptions as per the DTAA.
NRIs can claim relief by providing a Tax Residency Certificate (TRC) from their country of residence and applying for tax credits or exemptions as per the DTAA.
See lessWhat are the tax benefits available for NRIs?
NRIs can avail of benefits like exemptions on NRE account interest, and certain investment-related deductions under Sections 80C, 80D, and 80E.
NRIs can avail of benefits like exemptions on NRE account interest, and certain investment-related deductions under Sections 80C, 80D, and 80E.
See lessWhat is the concept of a Non-Resident Indian (NRI)?
An NRI is an Indian citizen who resides outside India for employment, business, or other purposes and meets specific criteria related to physical presence in India.
An NRI is an Indian citizen who resides outside India for employment, business, or other purposes and meets specific criteria related to physical presence in India.
See lessQ: How is income earned by non-residents taxed in India?
Non-residents are taxed on income received or deemed to be received in India, or income accruing or arising in India.
Non-residents are taxed on income received or deemed to be received in India, or income accruing or arising in India.
See lessHow are foreign investments in Indian companies taxed?
Foreign investments are subject to capital gains tax, dividend tax, and interest tax, with applicable exemptions and relief under DTAA.
Foreign investments are subject to capital gains tax, dividend tax, and interest tax, with applicable exemptions and relief under DTAA.
See lessWhat is the significance of the Place of Effective Management (POEM) rule?
POEM determines the residency status of a company based on where key management and commercial decisions are made, impacting its global tax obligations.
POEM determines the residency status of a company based on where key management and commercial decisions are made, impacting its global tax obligations.
See lessWhat is a Tax Residency Certificate (TRC)?
A TRC is a document issued by the tax authorities of a country to certify that an individual or entity is a resident of that country for tax purposes.
A TRC is a document issued by the tax authorities of a country to certify that an individual or entity is a resident of that country for tax purposes.
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