My wife and I have been NRIs since 2021. Our AIS/REPORTS are showing Foreign bank accounts in CY 2022, 2023 and 2024. These accounts are in our joint names but total amounts are shown against each PAN (meaning the total amount shown is double of the actual). Should we provide feedback saying the amounts shown are of joint accounts? Or ignore as we are NRIs?
I am a retired senior citizen. I have bank interest, rental income and capital gains from sale of mutual funds. I was actually an NRI in AY 2023-24 and 2024-25 but inadvertently/innocently filed my returns for these two years as a resident Indian.
Can I file ITR-U to correct this mistake by paying the applicable penalty? How much professional fee I may have to pay for filing ITR-U for these two years?
I am a retired senior citizen. I have bank interest, rental income and capital gains from sale of mutual funds. I was actually an NRI in AY 2023-24 and 2024-25 but inadvertently/innocently filed my returns for these two years as a resident Indian.
Can I file ITR-U to correct this mistake by paying the applicable penalty? How much professional fee I may have to pay for filing ITR-U for these two years?
When is The FAST-DS 2026 (Foreign Assets of Small Taxpayers Disclosure Scheme likely to be announced? And effective date?
I have my six-figure investments (registerd and non-registered) with WS. I am going to be a non-resident for atleast 2 years. Are non-residents allowed to keep their account with WS? Any pointers to keep in mind?
The information in my 26AS matches with AIS. However, interest shown in AIS is less than the interest certificates issued by banks. Which amount should I report in my ITR (shown in AIS or bank certificates)?
I will be permanently returning to India in October. Will transfer significant funds (over $100K) to NRE account while abroad. I will be an NRI in the current FY.
1-When should I change my NRE and NRO accounts to ordinary savings accounts?
2-Can I leave funds in NRE account till March 2027 to earn tax-free interest?
3-Whats the best way to transfer funds from Canadian Bank to ICICI Bank in India?
4-When should I re-do KYC for mutual funds?
Any good tips and guidance will be appreciated.
I will be permanently returning to India in October. Will transfer significant funds (over $100K) to NRE account while abroad. I will be an NRI in the current FY.
1-When should I change my NRE and NRO accounts to ordinary savings accounts?
2-Can I leave funds in NRE account till March 2027 to earn tax-free interest?
3-Whats the best way to transfer funds from Canadian Bank to ICICI Bank in India?
4-When should I re-do KYC for mutual funds?
Any good tips and guidance will be appreciated.