Can a resident individual subscribe to an unregulated fund in Singapore? Can a local startup buy into a fintech firm abroad? Is a high-net-worth (HNI) individual barred from holding fixed deposits in an offshore bank? Will an Indian company holding a minority stake, but having no control , in a foreign company have to walk the extra mile on compliance? For months many Indians, keen to diversify their assets and execute business strategies, have been looking for unequivocal answers to a slew of such questions.
NRIs in a bind as taxman slaps advisories on high-value transactions
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NRIs in a bind as taxman slaps advisories on high-value transactions
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Taxpayers in India are receiving notices from the Income Tax department for old tax demands, some dating back more than 15 years, that have already been paid and closed. Many taxpayers are confused as they no longer have the payment receipts or rectification orders to prove they have paid the taxes. The errors are believed to be a result of the department migrating to a new system.