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RETURNING NRIs - FEMA PROVISIONS
''Return 2 India'' is much cherished dream but the fears re: ''can or cannot continue'' or say ''to or not to disclose overseas assets'' are most dreaded ones. Fortunately NRIs returning home for settlement can happily "keep the cake and eat it too
NRIs CORNER - TAX FREE INCOME
Income-Tax exemptions are a bonanza offered to NRIs but caution is required while enjoying these tax exemptions and one needs to " read between the lines " as the same are based on the residential status of an NRI under FERA1973 (FEMA1999) and the
Profitable Trading In The Forex Markets
The basis behind using technical analysis is to find trends when looking at the forex charts and be aware of when they first develop so you can ride the trend until it ends. The foreign exchange market is a very strong trending market, lots of ups an
Highlights of quarterly review of Annual statement of Moneta
Highlights of quarterly review of Annual statement of Monetary Policy 2007-08 RBI Governor presents Third Quarter Review of Annual Statement on Monetary Policy for 2007-08 Dr. Y Venugopal Reddy, Governo
Top 10 Estimation Best Practices
1. Use more than one person - By engaging the team in the estimation process we gain the benefits of additional insights and consensus building. Additional people bring different perspectives to estimating and spot things individuals may miss. Also,
Some issues with Annual Information Return and Income-tax Return
S.285BA of the Income-tax Act (Act) read with Rule 114E of the Income-tax Rules (Rules) requires certain specified persons to file Annual Information Returns (AIR) every year. Income-tax Return Forms, ITR - 1, 2, 3 and 4, applicable to Individuals/H
Some Facts for Tax Provisions
1. Before we discuss the interpretation of 'beneficial provisions', it will be interesting to consider some basic rules of interpretation as laid down by the Supreme Court in its pronouncements viz. :(1) Legislative intent should be considered, henc
Careful while investing- Mr. FM
NEW DELHI: As Sensex continued its upward march on Friday, touching a new high of 17,361.47 points before closing at 17,291.10, finance minister P Chidambaram urged investors to adopt a cautious approach. "My advice to investors is that they should d
F A Q ON ITR FORMS BY INCOME-TAX DEPARTMENT
1. What are the forms that should be used for e-Filing? Answer: The Forms that are currently available for e-Filing for A.Y. 2007-08 are ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, & ITR-8. For A.Y. 2006-07 For A.Y. 2006-07, the e- return could be
Some more Questions on ITR
31. The assessee who is under presumptive taxation scheme i.e. "no accounts case", what he should write for sundry debtors, sundry creditors, stock in trade, cash balance, gross profit as he may not have all these details since he is not maintaining
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