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Parents can fund overseas property for NRI children through LRS, subject to FEMA and tax rules
The brief
- Resident parents can use the RBI’s Liberalised Remittance Scheme to fund overseas property purchases for NRI or OCI children
- Income tax audit and ITR filing deadlines extended by 21 days
- CBDT extends tax audit and ITR filing deadlines for eligible taxpayers
- If neither tax nor fee, what is this ‘expropriation’, Supreme Court asks Govt on UPI MDR charges
- CBIC eases paperwork to claim concessional duty on imports from UK
- GST Council to simplify processes, cut penalties