Before filing your income tax return in India, the most important factor to assess is your residential status under Indian tax law. Your tax liability on..
Tag: Schedule FA
How to Declare Foreign Assets in Indian Tax Returns
If you’re an Indian resident who owns foreign bank accounts, property, stocks, or business interests, you are required to disclose these foreign assets in your income..
How to File Income Tax Returns Online in India
Filing your Income Tax Return (ITR) is a key part of financial compliance in India. With the government’s push for digital services, individuals and businesses can now..
Who is Considered a Resident for Indian Tax Purposes?
In India, your residential status determines whether your global income or only Indian income is taxable. It is based not on citizenship or visa, but on..
Who Should File Taxes as an NRI?
Non-Resident Indians (NRIs) often assume they are exempt from filing taxes in India – but this is not always true. The Income Tax Act, 1961, clearly..
Who is Required to Register Under FEMA?
If you are an Indian resident involved in foreign transactions – such as investing abroad, holding foreign assets, or receiving foreign funds – you are subject..
Who Needs to File Income Tax Returns in India?
Filing an Income Tax Return (ITR) in India is not just a legal formality – it helps establish financial credibility, unlocks refund claims, and supports visa,..