Unexplained investments of Non-Resident Indians U Section 69. Where in the financial year immediately preceding the assessment year the assessee has made investments which are not recorded in the books of account, if any, maintained by him for any source of income, and the assessee offers no explanation about the nature and source of the investments or […]
Potential Amendments Benefiting NRI Taxpayers Potential Amendments Benefiting NRI Taxpayers Several areas could be reformed to provide greater convenience and efficiency for Non-Resident Indian (NRI) taxpayers. Below are some key expectations: Conclusion: Implementing these reforms would significantly enhance the tax compliance experience for NRIs by reducing procedural difficulties, minimizing delays, and improving efficiency. These changes […]
Put Options under the Companies Act, 2013, and Its Compliances The Companies Act, 2013 governs the enforceability and regulation of put options in agreements related to shares of companies, including private limited companies in India. This provision, when coupled with relevant rules and regulatory frameworks such as FEMA and SEBI guidelines, ensures the legal validity […]
An Assessing Officer (AO) can refer the valuation of immovable property to a Valuation Officer (DVO) under the Income Tax Act, 1961, primarily in the context of capital gains taxation or income assessment. The reference is made to ascertain the Fair Market Value (FMV) or evaluate whether the valuation claimed by the assessee aligns with the provisions of […]
