FAQs

Taxation

Q1. If an individual of Indian origin staying abroad has to remit some money to his parents in India, will such repatriation of money to India affect the taxability of the parents?

Repatriation of money to parents of an individual will not be liable to be taxed in India in the hands of the parents. This is because gifts made to relatives are not taxable as per the Income‐tax Act.

Q2. How is the taxable income determined in case of non-residents?

 

In the case of a nonresident individual and a foreign company, the income which is received or is deemed to be received in India or income which accrues or arises or is deemed to accrue or arise in India, shall be liable to be taxed in India.

Foreign Exchange Management Act

Q1. WHAT ??

SDASDASD

Q2. test test test????

answer answer

Q3. Can a resident individual give rupee gifts to his visiting NRI/PIO close relatives?

 

Yes, a resident individual can give rupee gifts to his visiting NRI/PIO close relatives by way of crossed cheque/electronic transfer within the overall limit prescribed under Liberalised Remittance Scheme for the resident individual and the gifted amount should be credited to the beneficiary’s NRO account.

Q4. Whether a NRI/PIO can invest in Immovable Property in India?

Yes, under the general permission of RBI, a NRI/PIO can purchase the residential and commercial property except agricultural land / plantation property / farm house in India.

Corporate Law

Q1. what is your name?

Rahul

Q2. Can a Non‐Resident become a shareholder or a director in an Indian Company?

Yes, a Non‐Resident can become a shareholder or a director in an Indian Company.

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