Saturday, August 26, 2017

10 Points NRIs should know about Income tax in India

Many NRIs are not aware of income tax laws in India and doesn't know whether they have to file income tax returns in India or not. Sometimes they also wonder, do they have to include income earned in the USA as well or only income earned in India would be taxable? Other doubts which come in minds is whether interest earned on NRE, NRO, and FCNR deposits should be counted as taxable income or not. What about long term equity gains?

Friday, August 11, 2017

What happens to bank account, Fixed Deposit, and Insurance Policy When you become NRI?

One of the most common doubt among new NRIs are about their bank accounts e.g. what happens to their bank account, Fixed deposit, Demat accounts, brokerage accounts, and insurance policies when they become non-resident Indian? Well, once your residential status changed from resident Indian to non-resident there are certainly few changes in your financial accounts. For example, your resident account needs to be converted into NRO account. You also become eligible to open NRE (Non-resident external) account. Similarly, once you become NRI you need to inform your bank about your fixed deposits, brokerage accounts, and insurance policies.

Tuesday, August 8, 2017

How much Indian Rupees (INR) Indians can carry from India to Dubai?

If you are going for holidays or work to Dubai, Singapore, or the USA from India and wondering how much Indian rupees you can carry to overseas then you need to know the Indian customs official limit about the export of Indian currency. As per Indian customs rules, Export of Indian Currency is strictly prohibited. However Indian residents, when they go abroad, can take Rs. 25,000/ or INR twenty-five thousand with them. This rule is same for going to any country in the world e.g. you can take 25K INR if you are going to Dubai, Singapore or India.

Saturday, August 5, 2017

NRI Aadhaar and PAN card FAQ - Frequently asked questions

In this article, I'll answered some of the frequently asked questions about Aadhaar card and PAN card and their linking for NRIs and Indians living abroad. Though, the most important thing to remember is that NRIs are not eligible for Aadhaar card and they are also exempted from quoting Aadhaar number in their income tax return in India. Since they are not legally eligible for Aadhaar, they are also don't need Aadhaar number if they want to apply for PAN card from 1st July 2017.