Monday, October 22, 2018

Does NRO Account allows INR deposits and Foreign currency deposits via Cheque or Remittance?

One of the common questions among new NRIs or Indians just went abroad is whether they can deposit rupees in NRO account or not? The short answer to this question is YES, you can deposit INR or Indian rupees into NRO account. In fact, that's the sole purpose of opening an NRO account because you cannot deposit rupees into NRE account.  If you are new to NRI banking facilities available to Non-resident Indians then let me tell you there are two main types of saving accounts NRIs can open in India, NRE (Non-Resident External) and NRO (Non-resident Ordinary).

Sunday, October 14, 2018

5 Difference between L1A and L1B USA Visas

If you are working for an investment bank e.g Barclays or CitiBank or service company like Infosys or TCS and thinking to move to the USA on L1 VISA then but don't know the difference between L1A and L1B USA visas then you have come to the right place. In this article, I'll explain the difference between those two. Many of my friends have moved to the USA on L1A and L1B in last a couple of years hence I have some personal experience talking with them. Similar to H1 VISA, L1 VISA is also a temporary VISA which allows a foreigner to work in the USA.

Wednesday, October 10, 2018

Is Laptop, Tablets, and Mobile Phones allowed in Checked-In or Cabin baggage?

Yes, Laptop, Mobile Phones, Smartphones or any other Personal Electronic device, also known as PEDs are allowed in both check-in luggage and in cabin luggage in most of the countries. Though, it's general practice to carry mobile phones, laptops, tablets or any other personal electronic device in cabin luggage due to security reasons. Since these devices have a battery which may spark the fire and if they are in check-in luggage it will not be handled properly and in the worst case, it may result in loss of Aircraft. Hence its advised to always carry electronic devices with the battery in cabin luggage.

Saturday, October 6, 2018

How to Calculate Long Term Capital Gain on Property/House Sale With Indexation Example.

Yes, both NRIs and Resident can remit the money obtained by selling properties in India, but you have to take a couple of things in your mind. For example, the sale proceeds amount must be deposited into NRO account, it cannot be deposited into NRE account. Similarly, you may be liable to pay the short term or long term capital gains while selling the property situated in India. If you are selling the property within 3 years of purchase then you need to pay short-term capital gain and if you are selling the house after 3 years then you have to pay long-term capital gains I India. In case you have inherited the property then the date of purchase and price of purchase of the previous owner will be used for calculation.

Friday, October 5, 2018

6 Reasons to invest in National Pension Scheme for Retirement Savings

Retirement Planning is very important in the age of nuclear families and western culture. There was time when Indians never bothered about Retirement Planning or Insurance because they trust that their children particularly Son will take care of them both financially and emotionally, but with nuclear families its not possible anymore. Many elders are living alone nowadays and hence Retirement planning is essential for a relaxing and rewarding retired life.