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Why NRIs Are Getting Notices From Income Tax Department? - A Must Watch
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- Опубликовано: 5 дек 2022
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In my 10 years in India, I got a notice every single year. Despite paying crores of taxes each year, the IT department would rather go after me than politicians who probably made just as much or more without paying much/any taxes and/or earning from questionable sources. Obviously not very fair to me but then I accepted it. My CA was visiting the Commissioner every time on my behalf. But clearly such tactics would discourage many NRIs/foreign citizens from taking up postings in India. Something the Indian government should look into when they are trying to complete with China.
I understand your situation, as attending notices/compliances are cumbersome… However, FYI- all persons irrespective of whether a politician or otherwise are getting notices, search/survey’s etc… we have live examples of the same
India can only dream of compete with China. Lies told by politician day and night. Taxpayers is only spent to advertisement to impress the people to gain votes. Government not interested in education or infra development., bec the pm is uneducated and thrives onlies and deceit.
I can understand ur pain
But pls say honestly
You are not paying tax on domestic income thats why u getting notices,
Or may be u r paying but not paying 100% liable tax , doing some tricks and tectics
If u are not gaining income in india , no commisioner can dare to sue you
But if you are gaining income then need to pay tax
And u should thank god for u r indian
If u are USA citizen u have to pay tax to USA on ur foreign income as well
Please feel proud on yourself for be a part in national development indirectly as tax payer
yes,2022 largest number of NRI'S renounced their citizenship
@@vinaychinapanjwani2060 Who decides whether taxes are paid fairly or not? That is the biggest contention, and overzealous babus always become aggressive and misinterpret law (the law itself is ambiguous and poorly drafted most of the time, the framers of the law themselves had no idea what they intended!). Most of the time cases go to High Court and 90% of the time tax department loses.
All way to loot normal people is built very well , but political parties and their black money loopholes are still kept
Well said, including the way they shield powerful corrupt business men too !! If you know babus and politicians in the govt u can still to ghaflas and go scot free
There needs to be a radical change in the taxation of not just NRI's but also the average Indian taxpayer rules. The current system is tyranny by a selected class of babus. The average Indian feels harassed and intimidated by these idiotic laws and is understandably incentivized to try and circumvent them. The best answer to increase revenue is to get rid of personal income tax and tax consumption instead. That removes the hated tax babus from the average Indian's life and transfers their efforts to deal with the well equipped corporate lawyers.
I fully agree with you to abolish income tax and replace it with Bank transaction tax so that entire population is covered unlike covering 6 chores IT payers
Thank you Dr Bhat for putting together this very informative and helpful program with the professional advice of CA Sriram
In a nut shell, over 16 lakh people left India in last 8 years..who the hell would like to rot in hell after paying taxes in 30% bracket..
Well said ...but don't shame the hell by comparing it with this place
This is true. Earlier Service tax and income tax information was never exchanged. But I got a notice after 5 years for some oversight of 10 thousand rupees liability done in 2016. I had to pay 1 lakh penalty for this and its not easy to keep track of all the papers for years gone by
What was the case ? Can you share more insights on your issue?
@@rahulvarma2100 That was pre GST era and you were supposed to pay service tax for income greater than 10 lacs. I over shot by a bit and had a liability of 10 thousand. This was for a business I had as a side income. After 5 years they called me to show the receipt books and explain the miss. As there was a mismatch between ITR and STR.
@@rahulvarma2100 You can google and most lawyers/doctors got service tax notices and many had to pay huge life altering penalties.
Isn't that rediculous? What is the country doing for 5 yrs?
Yes tax officer told as per law he can call after 7 years. And they do it on purpose so that penalty gets accumulated over time. Laws are loosely written where they state penalty can be waived off if there is no wilful violation. These subjective laws lead to corruption and under the table stuff. In 5 years so many things change and i had already shut down my business due to pandemic. But they wanted my 2016 customer receipt book
Artificial intelligence should resolve the issues and not to create unnecessary problems as NRI's can not just come for the sake. If the nation put hard rules then NRI's will stop sending money.
India is moving towards AI completely… the issues is that this is a process and would take several years to integrate various state & central government… that’s why these transitional issues…
Are these notices created to meet Tax Inspector face to face so that it is solved by "Payment under the Table" to Tax Commr......Be Carrful?
You nedd to file responses online , not face to face . India has moved to faceless assessments
Thanks a lot for invaluable timely information. India is moving on fast towards professional handling of personal data and assessment. 🙏
Excellent discussion.
I used to wonder why some articles advise us to first check the name in the IT notice, whether the name is correct or not. I wondered how one can get another person's notice. I was shocked to read a recent report that the same number PAN card has been alotted to two persons. So let every recipient of a notice check first of all if the name etc is correct.
Same PAN cannot be allotted or will not allotted to 2 persons under any circumstances
@@sriramrao2514 Dear brother, In fact I had read a report last week that same PAN was allotted to 2 persons, which has shattered our belief.
@@vsab786 100% not possible... Its some wrong information/media report...
@@sriramrao2514 I found the report for you. Please refer to The Hindu of Nov 29, 2022. The High Court has asked clarification to Income Tax dept after a complaint of duplicste PAN was launched by an affected person
Good discussion. But the problem is far more than what is discussed. The automation will not change the need to check the system and ensure unwanted burden is created on the citizen whether he/she is an NRI or resident. I am an NRI since the last 18 year or so. I have received numerous notices since 2020 and I gave clear documentation each time (spending a lot of my time) that the transactions are happening in my NRE account and are not liable to tax. But the process keeps on going until a showcase notice and on provision of documentation, that *particular* transaction goes to rest. But the same drill repeats when I make another transaction ! So much for automation. And it is a misconception that having the system itself will change things. The system needs to be maintained properly and loopholes needs to be fixed. Including the language in the notice. The AI is finally delivering a message according to the 'babu' who wrote up the message. The showcase notice language is as if we have committed a crime. If India needs to develop further, these things also needs to change. It is not the same in developed countries. They make sure they accuse or even a slight change in tone is made only after they ensure that they have ALL the info.
- Writing this after providing the same answer checking up my transaction on receiving the latest notice yesterday !
Boss I am going through the same pain….I wonder why NRE information is even shared with tax authorities putting the onus on us to prove something I don’t even recall having done. This stupid system needs revamp and in my view is breach of banking secrecy. When IT has no jurisdiction on NRE taxation why do they not ask banks to explicitly specify what is NRE and what is NRO. Just a large value transaction gets reported under a PAN and the damn proceeding starts and keeps on going till cows come home. The language of notice is so horrible as if I will get arrested once I land in India.
I have received 5 of them.. including income on Provident Fund abroad.. each notice presumes you are not an NRI.. besides it asks you to come to India and meet.
You need to prove to them that you are a NRI… probably you might have some assets or bank accounts still in resident status… address it properly… if you have not violated anything, then what is the fear… not almost all process is online under Income Tax other than summons
@@sriramrao2514 incorrect...I provided them all details and have nothing more to share and they keep on issuing new notice every month and everytime my CA goes to meet them on decided date the commissioner says that they still didn't checked the file
Investing money in India is going to be a pain in the butt!
The problem is that in India we want NRI remittances but hate them for making Wealth. Can't work like this. We should respect their contribution to the economy
Why? Be transparent.
@@vipuls5900 No one respect NRIs contribution rather people are jealous, they have made the process too cumbersome to be followed so that they can penalize them anytime.
If one follow law of the land, no need to worry. The biggest problem is, as a NRI, we religiously follow the law of Country where we are living now, but take our own homeland for granted.
@@vinay108322 that's not true. I followed all the laws but still the tax assessment officer demanded money for signature. He put aside my assessment for 2 months. So try the process yourself.
NRI still remains a taxpayer in India because he remains an Indian citizen. The income tax in India must know that he is liable for Indian tax for income from all over the world. To avoid one must declare their "tax residency" in the country in which they reside. Thus, any income from any other part of the world will only be declared in the country of his "tax residency". Therefore, incomes from any other part of the world outside the tax-resident country will be taxed in accordance with the foreign country's tax legislation. This way you are abiding by tax legislation in all countries from where you are receiving/deriving the income.
I am frequenting IT office for the past 7 month's. I provided everything they have asked. 2015 - 2017, they wanted all exit and entry stamps to India and marked with page numbers not just Xerox. My passport is a jumbo 60 pages passport. They say faceless but they issue summons so that you go to them. They also mention you cannot leave the country. So far they did not close the case. It is about my pension which I received after working for 8 years with a company. The company closed down but still they ask for company pension account bank details. Iam a salaried person not a company owner. I met the IT senior officer, he told me to upload all documents as a reply to the notice. But the case is not closed. I think it's too much enquiry for a pension amount. Every year I was declaring in my returns that iam paying a contribution towards pension.
Very sad to hear this . Not a good example for anyone to get into this kind of trouble . We wish the case be closed at the earliest
So sorry.. us your case closed now
You add more restrictions, people will not feel any special interest in investing india..
You have a point
Dear Sir(s): I have been following almost all your youtube presentations dealing with NRE and NRO issues, which are incredibly valuable and useful in our daily lives.
I would like to request you to produce a video on the issues related to buying a property outside India as an NRI and if there are any regulations or rules that NRIs should be following.
Secondly, what would be the fate of such property purchased abroad and the owner ceases to be an NRI by virtue of his retiring or returning to India permanently, and how any income generated from the rental etc. of such property should be accounted for. And if the particular individual could continue to receive the income from abroad into any of his accounts in India.
Thank you again, for your valuable contributions in this direction.
Submitting returns is very easy and returns are given very fast too.
I haven't received any notice, but still good to be informed. :)
Having to pay tax and then pay GST+CST makes no sense considering only a minority percentage of people pay personal tax. I personally feel the current system as double taxation. Wish to see a better system that shares the burden equally.
Can u tell what is the notice? Like its content.
JAIGURUDEV
THANK YOU
SO MUCH
GOD BLESS
YOU.
JAIGURUDEV.
Why can't govt give us simple taxation procedures and tax us less there by people will not evade tax and not generate black money. Govt increases tax every year and makes it more complicated for filling of returns
So ridiculous of govt to send notice on bases of filling tax returns that is generated automatically for entering in wrong column of the IT forms. Such a wasteful exercise and painful to citizens. God save us from income tax flaws and tension.
The population the country is so high that verification of each return of income filed manually is humanly impossible. Hence, the need of automated system to process the data which is filed & what they have with them... Therefore filling up forms in correct manner is important... This process is followed globally in all countries... I understand that for layman it would be difficult to fill forms, but to say, in none of the countries, the tax system is simple including developed countries like US, Canada, UK etc... Hope you understand the situation...
@@sriramrao2514 rather US income tax is more difficult.
Being in this field and seeing both USA and Indian taxation
Indian is far better.
Looks like things are gearing up beyond FATCA/CRS. No wonder this spreads to revenue department & property details are exchanged and income on it is taxed in residing country…! In that case, real estate market in India may have adverse effects…
Cannot use the term specialist and expert in any subjects which amounts to soliciting clients and advertising professional attainments or services while giving any interviews or personal communication
Leads to professional misconduct under clause 6 and clause 7 part 1 of the 1st schedule to Chartered Accountants Act, 1949.
Plz take care before ICAI catches you.
Point noted. Will take due care . Thank you vey much for constructive feedback
That standard tagline statement "Do not ignore notice, take the help of some good professional" is nothing but an advertisement or promo. And when you receive a notice and contact a professional, least he will ask you is INR 1.0 lakh for initial response (if he asks less, either the notice is not very serious or the CA is not enough experienced). I am not a CA but having gone through experience of receiving notices, studying tax laws, gone through summaries of high profile tax cases available online, I can say I know lot more why notices get generated and what happens in the proceedings. In summary, the system is designed by extremely low IQ bureaucrats, which now has added analytics tools written by TCS, another company of low paid/low IQ programmers. What else could you expect to be the end product? No, it's not much about corruption or bribes, it's about incompetence and low IQ coupled with high handedness and crookedness of babus that creates a mess in drafting or interpreting laws. A whole book can be written on it, but it wouldn't be profitable to write such a book. And who wants his Indian passport to be confiscated by publishing such a book!!!!
Don't ever think bribes will solve your problem. No officer can close the case without putting reasons on record for closing the file. His seniors or even officer replacing him on his transfer can reopen the file and check if the reasons for closing the file were solid enough. In case of doubt, he can be prosecuted and lose his job. No officer will take that risk!
Dr. note that NRIs are not specials species in India. They should not expect special treatment. Understand.
Do you think the notice is self evident as to which of these numerous sub departments sent this notice. How it’s sent? How does it reaches the person living abroad??
Yes, it would self evident… these notices now will be served to last known address as well as e-mail
@@sriramrao2514 adhar card and pan card contains all details .
Please present a video on HOW TO RESPOND TO A NOTICE FROM INCOME TAX DEPARTMENT REGARDING CASH REMITTANCES TO BANK ACCOUNT
Why examples have not been given?
Inly because Incapable Income tax dept who can not catch loan sharks who escape India without paying any tax.
India has access to CRS. If any NRI ever gives their PAN number while overseas, many questions can be asked about transactions. So never give your PAN number to any bank or institution when you are overseas.
Two questions. Are Income Tax notices sent to NRIs (with Indian citizenship and US green card) or are they sent to NRIs born in India but given up Indian citizenship and taken foreign citizenship? Are these notices sent to NRIs living in India or abroad? Please reply.
The notices can be sent in any circumstances to any person, if such person has carried out certain transactions which are not backed up by proper documentation/compliance
Someone who is not a citizen of India cannot be an NRI. I think that you are confusing it with "OCI" which is a special kind of visa normally taken up by former citizens of India after they take up foreign citizenship and give up Indian citizenship. They are treated on par with Indian citizens except for a few areas, notably they cannot vote in India and they cannot buy agricultural land.
@@smouldering under Income Tax Act, NRI means - ‘Non Resident in India’ - it does not mean non-resident Indian/individual… hope this gives clarity to you…
@@sriramrao2514 my comment was for Bostonite1985. Not for you. He seems to be confusing an NRI with someone who is an OCI.
@@smouldering Wrong...any person of Indian origin living abroad (no matter what his citizenship is) is an NRI...
what about how doesn't have any contact details except their home address and never get in touch with them and simply block the PAN card
A person buys house from his salary earned out side India. What disclosure, if any has to be made.
You can watch the video on disclosure of foreign assets in India on this channel & be guided
Waste of time. Can't even give one example of a tax notice for an nri.
Dear All NRIs
My son got a notice for a property purchase done in 2014 in current year enquiring for money trail when his pan no’s and bank details all details of money entering into his NRO account and going towards Emis towards bank loan ,hence While the notice could be auto generated but facing undue harassment in settling/addressing the issue
Sad to here but that is the what they will harass common people but will not catch big guns.
What about OCI'c getting a notice even when no income in India. Only 20 Rupees from an NRO savings account ?
Ajit Phansalkar , Did tax inspector came to visit you at home and asked for something?
I have kept min amout just to maintain the nri account. I have Oci and received a notice as well. its ridiculous.
As an NRI, I've missed out on filing "nil return" for the last couple of years. Would this create issues down the line? I have correctly filed the tax return for just the years I earned money in India.
If you do not have taxable income, then it should not be a problem
@@sriramrao2514 thank you
Very informative .
Time to examine the number and amount of money transferred to India from NRI's in overseas countries!
I have received 2 notices in the past 8 years My CA handled it very well submitted all the requirements First instance I did not have to pay any tax Second instance CA answered all queries online finally I had to pay Re One only
Could you please provide us r ca details
I have gotten a notice u/s 144C(1) which says its a draft order because notices never show up on email and most earlier ones went unresponded resulting in the draft order. Now I have responded to the draft order using eProceedings portal with submit Response button. Is that equivalent to an objection ? Or is there separate procedures for filling objection with DRP ? Need urgent advise on this please ?
Thank you very much Sir for taking this topic! 😊
Notices are received from IT department stating that major transactions have happened in the account. But all these details are provided in the IT return itself. Why not they study the IT return and then send notice? Waste of time to receive and reply. This is the problem.
The investigating departments are not satisfied with your response n keep harassing you till you Chuck out something. The officers are ignorant about many procedures and they push the case till it goes to the judiciary for many years. There are greedy officers who try their best to get financial favours n if one does not oblige then they keep sending notices like love letters. It has become a game for officials to send notices. Moreover no stringent action is taken against the officers for wrongfully taking you for a ride n making things complicated for a person. They ask you to produce proofs which are irrelevant n unnecessary and beyond the reach of the person..😠
Did you solve the issue
Basic Question: How does ED /ITD send notice to NRI? Is it by physical letter by courier/speed post or by email or both?
E-mails & speed post both will be sent
Very helpful and clear info
What about OICs ?
Sir, I am an NRI, and building a house in India. Can I receive borrowed money to my NRO account from a friend, and is that amount taxable ? Do I have to file income tax in India for this. Thanks is advance.
It's tru filing IT on Indian returns questions asking about non inclusion of interest received on NRE FDs .it's by mail to acc
Good Explanation.
What about who is working in gulf region? Should they pay income tax? If yes then how? Please advice
Very nice and helpful video. Can IT ask for sources for funds going back 15 years? I had transferred funds 15 years ago which sat in my NRE account and multiplied . I got a notice last month asking for those sources and proof of that transfer.
Sir maximum timelimit is 10 years .how can they send notice beyond that! Did you consult CA.can you please share more info?
Thankyou so much
Thanks for the clarity. What ITR form should be used by an vNRI who has yearly income less than 2.5 lakes
Itr 2 only
Thanks for the guidance.
Thank you for your services❤
Hello Sir, could you make a video regarding farming income. Is farming income tax exempt and interest earned on those funds are also tax exempt or taxable. All your videos are very informative thanks.
Very nice questions sir.
Thank you fo this video.Came at the right time to provide me with clarity on the notice I received recently,
Whats the notice about?
And how you got the notice? Is it over postal mail or to your email address?
@@yuurishibuya4797 seeking information about my overseas accounts/assets
@@hu9t both
@@priyakrish-eg1ee hope you did not share the info. unless you are resident of india you are not required
to share this info. They are issuing this notice to fish for info they do not have.
only if notice pertains to any tax you have to pay in india , you do not require to share
your outside asset info
Sir as a NRI i am getting notice to file income tax. Is must to file
I have received IT department's summons under section 131(1A) requiring me to disclose details (income, investments etc.) of my foreign accounts that I had held in AY 2016-17. I had RNOR resident status in that AY, so I had NOT disclosed my foreign accounts information when I filed my ITR for that year. I had opened these foreign accounts while I was NRI and all the funds deposited in these accounts was from my income as a NRI, and no funds were transferred to my foreign accounts from India. Please advise, do I need to disclose this information, or can I reply to the summon that I do not need to disclose my foreign financial interests since I was RNOR in that assessment year.
Just for knowledge.. which country where you in as an NRI?
Very good information
Excellent
Artificial intelligence is not so intelligent. Why did they send me a DIN letter when im not even earning in rupees?I pay taxes to US and im not liable for taxation in India. Your AI is a fail sir .
Sir, thank you for making such videos which provides us clarity on many nuances, my question is, I am an IT Professional, NRI? who has valid residency of UAE and I retain by visiting UAE every 5 month as required by UAE law to have retain residence visa, my salary is deposited in UAE bank every month, while I am in India because my parents old age and my company thankfully allows work from home and visit UAE whenever required. Money I am transferring from UAE account to my saving account in India is taxable or not.
Yes it is taxable… there is a video on who is NRI? as well as there is a video on overstay in India… in this channel… you can watch both & get clarity on your situation….
I think only interest on bank income will be taxable. Please also see whether UAE comes under double taxation treaty.
There are no clear rules and information. It is very difficult to comply with all the compliances. If there is any mismatch that should be alerted same year and should help people to get the process done.
Finding the way to penalize someone if someone missed something due to lack of right information is not ethical. Not every one is CA who knows everything in and out.
You have a point . Professional service is aways available. Obviously everyone cant be master of everything. Now account information system is available for tax payers to depend upon
@@NRIMoneyClinic unfortunately India is just bunch of thugs sitting in government offices to ruin a persons savings or his life .. sheer shit that even these so called professionals will make it more complicated to eat food 3 times making small issues very big
I hv been asked to pay a penalty of INR 1000 for delayed linking of OAN with Aadhar. I live outside India & don’t know when was it mandatory. As an NRI do I hv to link these two and do I hv to pay
If you don’t earn in India in any form then no need to worry. If not, then you better declare in the form of IT return.
Change PAN status to Non resident
Where does one receive fema or Ed notices? Or can we check them online?
These notices are not available online as of now… they will serve it to the known address or e-mail etc…
How can I contact Sri Ram I need to consult him
Only common man will get notice. The big shots are minting money and laundering it. It's a pathetic situation.
thanks
😂😂if a rat is too clever to get caught, then more complicated tactics are needed to catch the rat.
Same is true for Indians and the tax authorities!
Indians are just too clever and nimble.. hence all these complicated rules and regulations have to be drafted…🙏🏼
Good
The term NRI itself is just so wrong. Anyone in GULF is a NRI , they don't have multiple tax aggrements anywhere.. Anyone else in any other country shouldn't be even treated a NRI. He puts money in India bank there is absolutely High degree of chance you will get slapped an IT Notice both in india and also the country abroad you are living due to FEMA laws due to bank accounts ..Basically In short, if you are in Gulf flood your indian banks with money and for anyone else just keep away by sending cash...Just one time you take an attempt to send funds from India that's when you realize the nonsense going on. Need the bank manager, the CA, tax all hungama around with professional help even with funds in NRI account.. If its a NRO account then forget the cash
. The way it goes, once cash is in india spend it only in India.
Not very true .. you can repatriate quite comfortably. There are many videos on this channel
It's like Google answers ,give proper example
Hi I am an American citizen and have dual OCI . So I am an Indian citizen too. Do I have to link aadhar and pan?
If you have already obtained Aadhar, then it is a must for you to link it with PAN… check the video on this subject in this channel & be guided
How do I pay on the website? I don’t have Indian source to pay . I only have American credit debit cards
sir, by anyway we can check list of all notice online ?
Yes, one can check all IT notices online, in their IT portal login... Especially notices which are issued in past 2 to 3 years, all will be available...
@@sriramrao2514 hi sir your office address in India plz 🙏
You can check notices on e filing portal - under pending action tab
Seems you are repeating the same and not speaking to the point you need to explain such a way a general public also can understand
They are not using AI, they are just automating, may be atleast 25yrs late!!!!. Cos our indian IT specialists have automated the world, but Indian governments state and central both, didn't bother. Cos they too were profiting from corruption. AI is not used in any other world tax systems, to enable tax remittances. FYI: AI will help analyse and see trends, draw conclusions etc, but not recording in computer systems and allow a user access to remittances online systems. When they allow the whole thing go online and give access to billions of people, to their tax remittances, actually then the system is usable otherwise it's just another way to harass common man. If there are 100 ways a common man can be harassed, indian govt red tape will harass a common man in 150 ways. Esp due to half usable, half baked faulty systems implementation.
I will not stepin in India just because of nonsense tax system...and running around to clean the shit.
AI, Technology, IT and all nonsencial excessive US copying is not reqired MESS as a mindless copying that is rather than Gujarat Model is US Model mindlessly driving India towards negative move. IRS in US is in disaster state for a while now which is and should be known to all.
Excellent discussion
I BOUGHT A HOME IN NOIDA 2007, FULLY PAID. IF I SELL THE HOME ,WILL I GET CAPITAL GAIN. CAN I BUY COMMERCIAL PROPERTY FROM THAT MONEY AND NOT GET CAPITAL GAIN. I ALSO WANT PHONE NUMBER FOR FINANCIAL ADVISER.
There are very detailed videos on sale of Immovable Properties in this channel. Please watch and be guided
So those working in overseas and shouting jaihind from abroad without contributing anything to India watch out !!!
No explanation on why we get notice. Waste of time
All Rubbish, NRI don't need to pay any income tax and as of now, and if they are going to be taxed they will get remove all their deposits from India.
And as an NRI I own a lot of properties in many Countries and have sold every Property I have in India. NRI should not bring in any Money into India.
Is it fot nri's who made income from india?
Not exactly… anyone can get notices
Sorry if I sound stupid..but do NRIs have to file returns like others .
@Startreck if the country you reside in has dta with india then you can declare you income from india there itself n pay tax or you can choose to pay in india.
@@naerampokku yes, if you have taxable income in India… you watch video - when NRI should file return of income in India
@@u4ttube not exactly… if you have taxable in India then you have file return of income in India even though as a NRI, there is no choice… but in the country of residence when you declare incomes which got already taxed in India, one can take shelter under DTAA to avoid double taxation os same income…. You can watch video on DTAA in this channel as well as other video’s to claim benefit of DTAA
Have you covered PF account in india for NRI? can i continue to hold PF account being NRI?
You can let the PF be in India and it will earn applicable interest till the age of 58. You gotta pay tax on interest post your India service period.
There is a detailed video on ppf account on this channel. Please watch and check if that applies to you
@@NRIMoneyClinic Thanks. I meant EPF account that employees get
@@vipuls5900 AFAIK EPF accounts in India stopped accumulating interest in 2019 if it is not active. I will be happy to correct myself if that is not the case.
@@TheRb615 till 58 interest is paid. That's the law I have also checked with a PF consultant
Stupids give notices to corrupt people.. not to a hard working common man
No, it's the other way around....
Send only chillars to india, we send dollors and we get notices.
Day by Day, India is going backwards.
What is the email id of Mr Sriram Rao
It is in the beginning of video
simple sloution if you get letter just put them in trash can and dont care. if they call you ask them to pay you to talk if you are honest no need to pay any taxes.- you can tell them to just *. Elections are coming and current party need funds for election - i think
Yukik myrog 🤖
Modi Magic
.