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NRIs

Several NRIs, foreign firms being probed in fertiliser scam case: Govt

Replying to a question from Congress Lok Sabha member Gurjeet Singh Aujla, Minister of State for Finance Pankaj Chaudhary said that the ED is probing the money laundering scam involving IFFCO Managing Director U.S. Awasthi, based on the FIR registered by the Central Bureau of Investigation.

Budget extends tax on NRIs for receiving gifts from resident Indians

The Finance Bill 2019 has imposed tax on any sum of money paid or any property situated in India, transferred by a person resident in India to a person outside India, as it would be deemed to accrue or arise in India. The changes will be applied for all such transfers made on or after July 5, 2019.