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DTC TREATS NRIs AS ‘NOT REQUIRED INDIANS’

Harsh Taxing Provisions & Tinkering with Residential Status under the Code are bound to irk the Global Indian Community! Amrish Amin, a Non Resident Indian (NRI) settled in U.K. earns interest income of Rs.3 lakhs on his Non Resident Ordinary (NRO) Account Bank Deposit in India in the current FY 2010-11. Enjoying his personal exemption limit of Rs.1,60,000 and the eligible deduction of Rs.1,00,000 under Section...

STAR INVESTMENT FOR SENIORS

Senior Citizens Savings Scheme Scores High On Tests Of Security, Return, Tax Saving & Liquidity A secured investment, offering a reasonable return of 9% per annum (payable on quarterly basis), assuring premature encashment in case of need and enjoying the added benefit of deduction under Section 80C, have made the Senior Citizens Savings Scheme (SCSS) a popular choice of the elderly for catering to their...

EMPLOYEE OR CONSULTANT? MAKE YOUR SMART CHOICE!

Opting to be a Consultant gives the Privilege of claiming Many Deductions not available from Employee Remuneration!   Anand Roy is offered a marketing work assignment by a company with an annual package of Rs.8,80,000 during FY 2010-11 and he is given the choice to either join the company as an employee or offer his services as a consultant. Weighing the income-tax implications in respect of the same, he is...

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