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Tax: Taxman takes affidavit route to uncover undisclosed foreign assets

Till now many bought time and tried to dodge the tax office by denying ownership or links with any overseas assets with false submissions, often made in letterheads of their chartered accountants and lawyers. Later, if tax officials called their bluff, such plain submissions gave them the leeway to escape harsh consequences.

remittance: NRIs and PIOs knock on RBI s doors to transfer inheritance

The Reserve Bank of India (RBI) has reportedly rejected requests from Indians abroad to move money from banks and sell inherited assets above the $1 million allowed limit per financial year. This tightening of regulations has impacted non-resident Indians and those of Indian origin, causing hardship and limiting inheritance planning for some.

remittance: NRIs and PIOs knock on RBI s doors to transfer inheritance

remittance: NRIs and PIOs knock on RBI s doors to transfer inheritance
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