RNOR (Resident But Not Ordinarily Resident) is not very well know even in NRI circles. A few days back when I wrote a post about “status of NRE FD after return to India“ – I got few emails & comments that they have not heard about this. Surprisingly even bankers don’t provide this information to NRI […]
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One of the most common questions that I get from NRI is – what will happen to my NRE FD after return to India? This question is on top of his mind because most NRIs locked their savings in long-term NRE FDs & they are giving high interest which is tax-free in India. You can […]
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The Indian rupee has been on a downward slide for some time now. It has been above the Rs. 70 to 1 US Dollar mark for the last 3 months. Almost depreciated 20% in 2018 calendar year and came very close to the psychological level of 75. This was sharp & painful after few years […]
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NRIs stay outside India & face challenges in managing their assets in India – they have a couple of options to manage their accounts here. So what should be preferred – Power of attorney, joint account or a mandate holder in bank account? Who is a Mandate Holder in an NRE/NRO account? A Non Resident […]
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NRI joint account with resident Indian was not possible till 2011. But now NRI can also operate a resident savings bank account in India on ‘either’ or ‘survivor’ basis with a resident – resident can also be a joint holder in NRO account. For example, a son who works abroad can open a joint bank […]
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As an NRI, you can invest in mutual fund schemes in India but you have to pay tax. You have to pay taxes on mutual funds based on certain criteria, Keep in mind that tax implications are different for NRIs as compared to Resident Indians. In this post we are talking about the tax on […]
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Most of our clients are NRIs – so this is a FAQ for us – “When is the best time to send money to India?” or “Best exchange rate to send money to India”. Clients who have spent some time with us know the answer but they still probe ahead like – “I would like […]
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Let’s check Tax Implications on Different Sources of Income for NRIs in India – also check tax rates for NRIs. Some NRIs do earn income in India as well. If this income exceeds the basic exemption limit, NRIs have to file income tax returns. Even if the tax is paid or deducted, tax returns should be […]
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Someone rightly said “Change is the only constant in life” but few changes are really tough like the change in residential status for NRIs. Are you an NRI who is planning to return to India? Or are you a resident Indian who will become an NRI? Either way, there are certain steps to be taken regarding […]
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Is NRI required to file income tax return? – a very common question. In short – an NRI is liable to pay tax under certain conditions. This post will cover that… We have also touched – how to file NRI income tax return online. Let us look at the various aspects of filing tax. Cases when […]
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