Wealth.
India Tax Dept. Demands Justification for Digital Funds
India's Income Tax Department is enhancing oversight of bank account credits, including Unified Payments Interface (UPI) transactions, requiring individuals and businesses to justify unexplained funds.
Beijing Offshore Trust Tax Deadline Nears for Global Chinese Wealth
Mainland tax residents face a 20 per cent levy on realised gains from offshore trusts, with a penalty-free declaration window closing on October 22.
Hong Kong Tax Savings Boost Indian Couple's Wealth
An Indian couple living in Hong Kong estimates annual tax savings of ₹7.5 lakh compared to India, leveraging higher incomes and lower tax rates for wealth growth.
India Mandates CA Certification for Overseas Remittances from April 2026
India's Income Tax Department now mandates Chartered Accountant certification for specific taxable foreign remittances from April 2026, streamlining Tax Deducted at Source (TDS) calculations.
India ITAT Mumbai Rules Non-Resident ESOP Fair Value is Acquisition Cost
India's Income Tax Appellate Tribunal (ITAT) Mumbai has clarified that the fair market value (FMV) of employee stock option plan (ESOP) shares at exercise can be the acquisition cost for non-residents. This applies even if the ESOP benefit was not taxed in India, providing tax clarity.