Articles by Shivangi Agrawal

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Determining residential status as per FEMA

Posted by Shivangi Agrawal 08 February 2021 4122 Views

When a resident Indian gains non-resident Indian status, it is mandatory by the law to change the residential status in the bank accounts. FEMA rules for NRIs do not allow holding a savings bank account in India.



Section 115BAC- Should you go for the new tax regime?

Posted by Shivangi Agrawal 07 February 2021 5769 Views

From FY 2020-21, you can choose to pay income tax under an optional new tax regime. The new tax regime is available for individuals and HUFs. “Lower tax rates but no deductions/exemptions” is the key feature




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