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New Delhi, Nov 16 (IANS) The Earnings Tax Division might make it obligatory for NRIs to share particulars of international remittances acquired from India and in addition divide it into taxable and non-taxable earnings within the subsequent fiscal, based on reviews.
Along with this, NRIs might also be directed to reveal their Indian enterprise connections and may very well be additional requested to elaborate on the character and even the whereabouts of such companies, reviews quoting sources mentioned.
The Earnings Tax Division might also search particulars in case of an individual who acquired capital belongings from the earlier proprietor, and who was exempted from capital beneficial properties, the reviews mentioned.
In such a case, the one that acquired the capital asset could also be requested to report the earlier proprietor’s particulars on the sale of capital belongings, the reviews, citing sources, mentioned.
–IANS
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