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TAX & REPAT BONANZA FOR NRIs!

With RBI allowing free transfer of funds from NRE to NRO Accounts, NRIs can plan tax exemption & easy repatriation!                          In the past decade, the Reserve Bank of India (RBI) has granted liberal facilities to Non-Resident Indians (NRIs), not only for repatriation of their current income earned in Indian Rupees, but also for remittances for specified purposes and substantial repatriation out of...

COURT CHAMPIONS TAXPAYER CAUSE!

Delhi HC initiates suo motu PIL on problems of faulty return processing, TDS credit & refunds and asks CBDT to explain!                           A Chartered Accountant Anand Parkash addressed a letter dated April 30, 2012 to the Delhi High Court, in which he set out numerous problems being faced by the taxpayers across the country owing to faulty processing of Income-tax Returns and non-grant of TDS...

AXE YOUR TAX AND RELAX!

With diverse recipes available for tax saving u/s. 80 C savings & investments require some smart planning!              The scheme of Section80Cof the Income-tax Act provides for deduction out of taxable income of a taxpayer who is an individual or HUF, in respect of specified savings, investments and allocations made by them during the financial year.              Section80C offers deduction to either an...

FM’s BUDGET ON A ROCK & ROLL!

One year deferment of GAAR, equity savings scheme & some TCS concession likely to be announced in Finance Bill today!               Taxpayers are bound to keenly watch the Lok Sabha proceedings today, as the FM rises to move some amendments in the Finance Bill, 2012, which is slotted for discussion and approval of the House on May 7 & 8. ANY ROLLBACK ON GAAR?               Will there be any rollback on the...

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