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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO...
The Income Tax Department said, "The Income Tax Department receives information of specified financial transactions of taxpayers from various sources. This information is reflected in the Annual Information Statement (AIS) module and is available to the persons/entities for viewing. The value of ‘Significant Transactions in the AIS has been used for carrying out this analysis." Read here to know what are these 'specified financial transactions'.
The Central Board of Direct Taxes (CBDT) has exempted the activity of investment in financial products by non-residents where income is received in the account of the non-resident maintained with the...
"The relaxation will allow non-residents to claim tax exemption in India on income from financial products offered by GIFT city intermediaries and is expected to give a boost to financial products and solutions offered from GIFT City," Rajesh Gandhi, Partner, Deloitte India said. "Among various intermediaries, the foreign clients of the brokers trading on various financial products on the IFSC stock exchanges are likely to be major beneficiaries of this exemption," Sunil Gidwani, Partner- Financial Services, Nangia Andersen LLP said.