Under the income tax laws, an individual is taxed based on the residential status. A residential status can either be resident or non-resident. Further, a Resident is categorised into Not Ordinarily Resident (NOR) or Ordinarily Resident (OR) depending on his/her physical presence in India during the previous financial years. Read on to know how it impacts individual.
Bangalore is not classified as a metro city for house rent allowance (HRA) tax exemptions under income tax laws, resulting in residents being able to claim only 40% of their basic salary as tax-exempt HRA
Executing the sale deed at the actual value of the transaction and paying the differential amount of stamp duty in cash may require explanation of the source of the cash. Accepting the money online would still require explanation of the nature of the transaction
business reporter
highlighting that the nation’s investment landscape has improved significantly, maharashtra governor ramesh bais on thursday said that many countries across the globe are looking at india as china̵
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