Monthly archive

August 2013

The tax implications for NRIs buying property in India

August 10, 2013
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The falling rupee and the lull in the property market in many cities are attracting Indians settled abroad to consider property investments in India. Non-resident Indians are allowed to purchase residential or commercial property in India but not agricultural land / plantation property / farm house, says Amarpal S. Chadha,
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CBDT Norms for Selection of Scrutiny Cases in FY 2013-14

August 6, 2013
CBDT has issued Instruction No.10/2013 dtd. 05-Aug-2013 announcing the selection norms for mandatory scrutiny of cases.  The following cases will be covered under compulsory scrutiny: (a) Cases where value of international transaction as defined u/s 92B of IT Act exceeds Rs. 15 crores. (b) Cases involving addition in an earlier
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