May, 2023 - TAX VIC

Understanding Tax Residency Certificate (TRC) and its Importance for Taxpayers in India

Post author:TAXVIC
Post published:May 31, 2023
Post category:Cross-border Transactions Double Taxation Avoidance Agreement Financial Documentation Government Regulations Income Tax International Taxation Legal Compliance PERSONAL FINANCE Tax Planning Taxation
Reading time:7 mins read

What is Tax Residency Certificate? A Tax Residency Certificate (TRC) is a document provided by a country's tax authorities to a taxpayer who is a resident of that country for…

Learn about the new TCS regulations on foreign remittances under the LRS scheme introduced in Budget 2023. Understand the revised rates, exemptions, and their impact on international credit card transactions.

TCS Regulations under the Liberalized Remittance Scheme (LRS) 2023

Post author:TAXVIC
Post published:May 29, 2023
Post category:Budget 2023 Finance International Remittances Taxation
Reading time:7 mins read

In Budget 2020, it was announced that if you remit money under the Liberalized Remittance Scheme (LRS) and it reaches a certain threshold, the TCS will apply. As a result,…

Lower Tax Deduction Certificate for Non-Resident Indians (NRIs): A document issued by the tax authority to NRIs to reduce the amount of tax deducted at source. This certificate helps NRIs avail tax benefits and exemptions.

Lower Tax Deduction Certificate for NRIs: A Comprehensive Guide

Post author:TAXVIC
Post published:May 24, 2023
Post category:Benefits of Lower TDS Certificate for NRIs Frequently Asked Questions (FAQs) on Lower Tax Deduction Certificate for NRIs Importance of Filing Income Tax Returns for NRIs Selling Property in India Introduction to Lower Tax Deduction Certificate for NRIs
Reading time:7 mins read

Understanding the idea of a Lower Tax Deduction Certificate is crucial for non-resident Indians (NRIs) selling property in India. With the help of this certificate, NRIs are able to apply…

FAQS ABOUT 2000 NOTES WITHDRAWAL, WHAT TO DO IF YOU HAVE 2000 NOTES?

Post author:TAXVIC
Post published:May 20, 2023
Post category:FAQS ABOUT 2000 NOTES How to exchange demonetized currency Promoting digital transactions in India
Reading time:4 mins read

The Reserve Bank of India announced the withdrawal of 2000 currency notes from circulation on May 19, 2023. Those who have 2000 notes can deposit them into their accounts or…