I’m planning to return to India after working abroad for 35 years. I have some FCNR deposits. I have been advised to convert them to RFC deposits upon my return. Like FCNR deposit interest, is RFC deposit interest also tax free?—Name withheld on request Returning Indians have the option to convert their FCNR (foreign currency … Read more
I have been working in merchant navy for five years. Every year, the high seas voyage amounts to about six-seven months. However, during FY24, due to my marriage, I could not serve for long and the period of voyage was only about five months. What will happen to the salary that I have received in … Read more
I am currently employed with an MNC. I relocated to the UK from Bengaluru in August 2023. In April 2023, I exited my investment in a startup in 2010, and used the proceeds to buy a house to claim tax benefits. Am I still eligible for this tax exemption, or will I lose the benefit … Read more
I have a family trading business in India that is run as a limited liability partnership (LLP) where I am one of the partners. I am planning to start a business in the UAE and hence will be moving there shortly. However, I will keep shuttling between India and the UAE for the next one … Read more
I am a non-resident Indian (NRI) living in Germany. I have recently sold an immovable property in India and reinvested the sale proceeds (post tax deducted at source) in another residential property as per instructions of my tax consultant to save tax in India. Though the capital gains will not be taxed in India, I … Read more