Tag
indian tax
11 posts tagged indian tax
- US Investing·
What is Section 112? Long-term capital gains on non-equity assets (2026 guide)
Section 112 of the Income-tax Act, 1961 taxes long-term capital gains on assets other than Indian listed equity at 12.5 percent without indexation after Budget 2024 — full 2026 reference.
- US Investing·
Schedule FA for AY 2026-27: step-by-step disclosure guide for Indian residents
How resident Indians disclose foreign equity, brokerage accounts and dividends in Schedule FA of ITR-2/ITR-3 for AY 2026-27 — sub-sections, calendar year trap and Black Money Act penalties.
- US Investing·
What is Schedule FA? Complete 2026 guide to foreign-asset disclosure
Schedule FA is the annual foreign-asset disclosure in ITR-2 and ITR-3 that every Resident and Ordinarily Resident Indian must file, covering overseas accounts, shares and income on a calendar-year basis.
- US Investing·
Form 67 to Form 44 transition: foreign tax credit for AY 2026-27
Form 67 still applies for AY 2026-27 returns filed in 2026. Form 44 takes over from Tax Year 2026-27. Here's what changes for your foreign tax credit claim.
- RSU Management·
ITR-2 walkthrough for first-time RSU filers (AY 2026-27)
Step-by-step ITR-2 walkthrough for salaried Indians holding US RSUs in AY 2026-27 — schedules, due date, SBI TTBR conversions and a fully worked NVDA example.
- US Investing·
Form 67 deadline tracker for AY 2026-27: foreign tax credit timing
For AY 2026-27, Form 67's outer deadline is 31 March 2027. File it with or before your ITR (due 31 July 2026). Late filers — here's exactly what to do.
- US Investing·
What is Form 67? Foreign tax credit claim form — complete 2026 guide
Form 67 is the electronic statement prescribed under Rule 128 of the Income-tax Rules, 1962 through which a resident Indian taxpayer claims a foreign tax credit under Sections 90, 90A and 91 against Indian tax liability.
- US Investing·
What is TCS on LRS? Tax Collected at Source on overseas remittance — complete 2026 guide
Tax Collected at Source under Section 206C(1G) is a 20 percent prepayment that authorised dealer banks levy on LRS remittances above Rs 10 lakh per financial year. Complete encyclopedic reference: rate matrix, history, Form 26AS trail, ITR credit, Form 12BAA salary offset.
- US Investing·
What is AIS and Form 26AS? Indian tax pre-fill data — complete 2026 guide
AIS is the Annual Information Statement and Form 26AS is the consolidated tax credit statement on the Indian e-filing portal. Together they hold every tax credit, financial transaction and pre-fill data point the Income Tax Department has on a taxpayer.
- US Investing·
What is the Black Money Act? Undisclosed foreign assets — complete 2026 guide
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 levies 30 percent tax plus a 90 percent penalty on undisclosed foreign income or assets, with Rs 10 lakh per-asset penalties and prosecution up to seven years.
- US Investing·
What is Section 112A? LTCG on Indian-listed equity — complete 2026 guide
Section 112A of the Income-tax Act, 1961 taxes long-term capital gains on Indian-listed equity, equity-oriented mutual funds and business-trust units at 12.5 percent above Rs 1.25 lakh after Budget 2024 — the canonical 2026 reference.