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What NRIs want from Budget 2024: Prevention of double taxation agreements, AIS introduction positives, to begin with

In interim budget 2024, there is a need to enhance digitalisation of tax return filing-linked procedures such as changing residency status, assessments and even alternative tax return verification systems linked to NRIs, say tax experts. ....

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Budget 2024: Resolve NRIs' PAN-Aadhaar tangle, raise tax rebate limit and simplify tax processes, say tax experts

The finance minister should consider allowing higher standard deduction limit for salaried tax-payers, lower surcharge rates for HNIs and a simpler tax system that reduces confusion, say tax consultants. ....

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Weddings and money: Gifts of gold are not taxed, but…

Gold received during weddings is not taxed as it comes under streedhan, a concept under Hindu law that draws a Lakshman rekha around the gifts received by a woman during marriage. These gifts are protected from taxes even in cases of separation. But this gold should be in a reasonable quantity. ....

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Budget 2024: From minor tax sops to enhanced exemption limits, here's what financial experts expect

The interim budget would soon be presented before the Parliament on February 1, 2024. The interim budget will exclusively address necessary expenditures, typically having a restricted scope and excluding significant policy alterations or the introduction of new programs. ....

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Budget 2024: AIS, avoidance of double taxation are positives, but NRIs need more reforms

Budget 2024: Many double taxation avoidance treaties have been forged and annual information statements capture tax details, but there is a need to shift procedures to digital mode for NRIs too. ....

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