The UK scenario One cannot access pension funds before the retirement age. It has to be either transferred to Qualified Recognised Overseas Pension Scheme (QROPS) in India or one can continue holding it till retirement in the UK. After retirement, Indians can get it in the specified bank account in India. In case of transfer, … Read more
Taxpayers are the most ‘meaningless minority’ as far as general elections are concerned and political leaders can say anything on tax in a political rally and get away with it, according to Ashneer Grover. The former managing director of fintech major BharatPe has said if one tries to understand ‘tax politics in India’, only 0.5 … Read more
I inherited ₹20 lakh in cash and two house properties. Subsequently, I gifted ₹10 lakh in cash and one house to my maternal aunt residing in South Africa. Do I need to pay income tax on the entire inheritance, or only on the remaining amount after allocating my aunt’s share? Additionally, should I declare this … Read more