Easing Tax Compliance for Non-Residents Ahead of Budget 2025 - PRESS AI WORLD
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Easing Tax Compliance for Non-Residents Ahead of Budget 2025

share-iconWednesday, January 08 comment-icon3 weeks ago 10 views
News sources:
indiatimesINDIATIMES
Easing Tax Compliance for Non-Residents Ahead of Budget 2025

Credited from: INDIATIMES

  • Tax residency distinctions: Non-resident Indian (NRI) tax obligations are based on stay duration in India, impacting global income tax liabilities.
  • Tax Residency Certificate (TRC): Recommendations suggest implementing thresholds for TRC requirements to alleviate challenges in tax treaty benefits claims.
  • Form 10F filing: Proposals to relax norms for filing Form 10F, allowing the use of past TRCs to ease the documentation burden for non-residents.
  • Bank account requirements: Non-residents face difficulties in tax payments due to the need for Indian bank accounts; proposals include accepting payments from overseas accounts.
  • Tax refund complexities: Suggestions to consider foreign bank accounts for refunds to non-resident PAN holders to avoid complications with dormant Indian accounts.

For more information, read the full article here.

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