TAX RULES FOR OVERSEAS INVESTMENTS INDIA
Elon Musk scorned "shady" loopholes, yet offshore tax tricks likely saved Tesla hundreds of millions
Tesla has reportedly saved over 400 million dollars on US taxes. This was achieved through a financial maneuver involving its units in the Netherlands and Singapore. These units posted 18 billion dollars in profits that were not taxed in those countries. This practice allowed Tesla to reduce its tax bill in the United States.
Buying property costing between Rs 20 lakh and Rs 45 lakh without a PAN? You must use new Form 97, says Income Tax Department
The Income Tax Department has introduced a new Form 97, replacing Form 60, for individuals without a PAN card undertaking specific transactions. This includes buying property above the specified value, opening bank accounts, and making certain cash payments. The revamped forms aim to simplify compliance, with reduced reporting expected for these declarations.
GIFT City vs Dubai vs Singapore: What you need to know while choosing your investment hub
Indian wealth is increasingly seeking global anchors, with GIFT City, Dubai's DIFC, and Singapore emerging as key contenders. Each hub offers distinct advantages in access, tax efficiency, and regulatory comfort, catering to different investor profiles from first-generation entrepreneurs to established family offices.
India Inc salary restructuring: How new labour codes and income tax rules will impact take-home pay and retirement savings
Salaried employees face uncertainty as new labor codes and tax rules loom. Companies are preparing for changes, but widespread implementation is delayed pending final government notifications. The shift towards a fixed-heavy salary structure, with higher basic pay, may reduce take-home salaries while boosting long-term retirement savings.
Direct vs indirect taxes: Key differences and how they impact taxpayers and prices in India
If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 99th part of this series, Riju Mehta explains the difference between the two types of taxes.
- Go To Page 1
Meal vouchers at Rs 200 per meal: Who gets income tax benefit and how the ‘working hours’ rule applies
The increase in the tax-exempt limit for employer-provided meals to ₹200 per meal under Rule 15 of the Income-Tax Rules, 2026 marks a significant shift from the earlier ₹50 cap. However, the real issue lies not in the quantum of the benefit, but in the interpretation of the rule—particularly the condition that meals must be provided “during working hours.
Should you pay taxes now or save big later? Roth conversion explained
Many retirees are thinking about Roth conversion to save tax in the future. It can give tax-free income later but may increase tax today. The decision depends on tax rate, income level, and retirement plans. Experts say timing is very important. Wrong planning can increase costs, so careful thinking or advice is needed before converting savings.
Singapore emerges as top FDI source in Apr-Dec FY26, high inflows from tax havens
Singapore emerged as the top source of FDI equity inflows into India during April-December FY26, contributing $17.6 billion. The US and Mauritius followed, with significant investments also noted from tax havens like the Cayman Islands and Cyprus. Computer Software & Hardware and the Services Sector were the most attractive investment destinations.
Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled it
An Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal, Chennai, has now cancelled this penalty. The tribunal ruled that the omission was accidental and bona fide, especially as it was the first year of the reporting requirement.
Who is Teresa Wallace? CRA reportedly pays out bogus $5 million income tax refund to British Columbia businesswoman; Check how tax authorities responded after erroneous payout
A British Columbia businesswoman, Teresa Wallace, received a staggering $5 million tax refund from the Canada Revenue Agency due to a 'bogus' return. Despite earning only $54,000 annually, she claimed nearly $10 million in foreign income. This erroneous payout, flagged for manual review, has ignited concerns about the CRA's oversight and verification processes, prompting asset seizure and recovery efforts.
Tax trap alert: IRA rollover mistake that could cost you big money
IRA rollover rules can be tricky and small mistakes can cost big money. Missing the 60-day deadline or choosing the wrong method can lead to taxes and penalties. Many people don’t understand withholding issues. Experts say simple and safe transfer methods can help avoid problems and protect your retirement savings in the long run.
UK universities warned against relying on international students as demand weakens despite recruitment push
UK universities are being cautioned against relying on international students for financial stability as demand for UK education weakens. Despite expanding recruitment efforts, institutions face stricter visa rules, rising costs, and lower profitability. Sector experts warn that growing overseas enrolment may no longer guarantee revenue, with compliance risks and increasing expenses making the model less sustainable.
Tax return postmark rules 2026: 1-day delay risk— Will mailing taxes last minute make your IRS filing late?
A 1-day delay can now make your return late. The tax return postmark rules 2026 have changed how the IRS reads mailing dates. Many taxpayers still mail returns on April 15. But USPS now applies postmarks at processing centers, not at drop boxes. That means your envelope may get stamped on April 16. The IRS treats that as a late filing. Penalties and interest can start immediately. This shift is real and already affecting filers. The tax return postmark rules 2026 increase risk for last-minute mailing. Experts now advise early mailing or e-filing. Timing is no longer what you control. The system decides your official filing date now.
For FDI, E-comm exports must be in separate cart
India is considering allowing FDI in inventory-based e-commerce exclusively for exports. This move aims to boost outbound shipments without affecting domestic retailers. Strict safeguards, including physical segregation of warehouses, are being evaluated to ensure export-bound goods are not sold locally.
SEBI seeks CBDT clarity on tax role of authorised representatives of FPIs
India's market regulator Sebi seeks clarity from the tax department on the duties of authorised representatives for foreign investors. Fund houses need clear guidelines as these representatives may face tax demands. Many professionals are hesitant to take on these roles without understanding their liabilities. Sebi is actively engaging with the Central Board of Direct Taxes to resolve this issue soon.
US Tax Deadline Today, April 15, 2026: Are 10 million Americans risking IRS penalties and rising interest charges as the last filing date arrives today?
April 15, 2026 is here. The US tax deadline ends today. Over 10 million Americans are still at risk. IRS data shows penalties begin immediately after the cutoff. Late payment triggers a 0.5% monthly penalty. Interest charges also start growing daily. Missing the filing deadline can cost even more. Filing late does not stop penalties. Paying late increases total tax liability fast. The IRS urges taxpayers to act now. File returns electronically to avoid delays. Use IRS Free File or Direct Pay today. Even partial payment reduces penalties. Waiting beyond today makes taxes more expensive.
Missed the tax deadline? How to easily file for an IRS extension now
Missed the tax deadline? You can still apply for an IRS extension and get more time to file your return. The process is simple and can be done online in minutes. But remember, this does not delay your tax payment. If you owe money, you may face penalties. Always check state tax rules too before filing.
Extra time alert: 8 states allowed to file taxes after deadline — see if you are included
US states with extended tax deadlines 2026: Tax Day 2026 is approaching for millions of Americans. The Internal Revenue Service has processed nearly 99 million returns, issuing $241 billion in refunds. The average refund is $3,462. While April 15 is the standard deadline, eight states have received extensions.
Planning to invest Rs 10 lakh overseas? Here are the markets to consider and how to do it right
For global diversification, experts recommend a diversified, disciplined approach across regions.
Buckeye Trust ruling: How a single clause drafted without sufficient precision in trust deeds can trigger tax risk and derail estate planning
Whether in trust deeds, corporate agreements or commercial contracts, even a single clause drafted without sufficient precision can significantly alter the legal consequences of an arrangement. in matters of taxation, precision in drafting is not merely good practice but an essential safeguard.
Net FDI inflows dip, investors opting for Mexico, Vietnam
Officials and experts attribute this trend to the country having to compete with Mexico, Poland, and Vietnam, a preferred part of investors' nearshoring and friendshoring policies after the Covid pandemic, and the US cornering a large share of tech-related investments.
Buying agricultural land near a city? Key income tax rules you must know
An ITAT ruling clarified that stamp duty valuation doesn't define agricultural land status for income tax. The tribunal emphasized that official revenue records, actual cultivation, and lack of formal conversion are key factors. This decision protects buyers from tax additions based solely on higher urban land stamp duty rates.
Load More
