Tag Archives: #TaxationClarifications

As a service provider, do I have to pay Goods and Services Tax?

Goods and Services Tax

Goods and Services Tax Yes, in India, as a service provider, you are required to pay Goods and Services Tax (GST) if your annual turnover exceeds the threshold limit of Rs. 20 lakhs (or Rs. 10 lakhs for some special category states). Even if your turnover is below the threshold limit, you have the option… Read More »

a person who is settled abroad can receive money from their parents in India without having to pay taxes on it?

Funds taxability from Indian parents for NRI

Funds Taxability from Indian parents for NRI Funds taxability from Indian parents for NRI, As per the income tax rules in India, individuals residing abroad can receive money from their parents living in India without being liable for taxes, given certain conditions are met. Under the provisions of the Income Tax Act, 1961, gifts received… Read More »