NRE vs NRO vs FCNR - Which Savings or Fixed Deposit Account NRI should Open?

Non Resident Indians, who want to invest money in India, must first open a savings bank account. This will not only help you to easily remit money to India but also to transfer Indian rupees to your friends, relatives, and parents. You can also pay bills on behalf of parents, recharge mobile phones, pay DTH charges, etc. If you have aged parents, then you can really help them to pay their bills online using your Indian Rupees NRE or NRO Saving accounts, I have opened NRO accounts for just that purpose. Anyway, there are mainly three basic types of bank accounts for non-resident Indians, NRE, NRO, and FCNR. NRE stands for Non-resident external, NRO stands for Non Resident ordinary and FCNR stands for Foreign currency Non-resident account.

How to determine NRI status of Individual for Income tax purpose?

If you had just gone last year, how do you check whether you are an NRI or not? Well, this guide will help you to determine your NRI status. In general, if a person stays more than 182 days outside of India in a given financial year, then he is considered as NRI (Non Resident Indian) for income tax purpose, but there are more to it. In this tutorial, I'll explain how to check NRI status in detail and why it is important to find out NRI status before filing an income tax return. 

8 Things NRI should Know about Mutual Fund Investment in India

If you are an NRI and investing in Mutual funds in India, here are a couple of things you should know.

1) NRIs are allowed to invest in mutual funds in India on a repatriable or non-repatriable basis. Based on which type of investment you choose, there are certain rules to follow.

2) The investments carry the right of repatriation of capital invested and capital appreciation only till the investor remains an NRI.

3 Reasons for Buying Health Insurance Family and Parents in India

Even though Health insurance is not a new concept for the world, I must admit that it's a relatively new thing in India and many people including those who are living in cities and earning well are not aware of the benefits of taking health insurance. Many people just focus on life insurance to buy a cover to help their family with money when they are not around, but they don't think about the medical emergency and cost of hospitalization for themselves and their family, especially during old age.

10 things NRI Should know about Portfolio Investment Scheme (PIS)

Hello guys, if you are interested in buying shares or doing trading on Indian stock exchanges like Bombay Stock Exchange BSE and National Stock Exchange NSE then you may hear about Portfolio Investment Scheme. RBI has allowed NRIs to invest in the Indian stock market by buying shares/convertibles of listed Indian companies in recognized stock exchanges e.g. BSE and NSE, under Portfolio Investment Scheme (PIS) with banks. Many NRI doesn't know much about Portfolio Investment Scheme, Even I didn't know about it some time back. Once I come to know about it I have collected some useful information and I wanted to share that with you guys.

Tax Benefit of Buying Health Insurance in India for NRI - Section 80D

There is no doubt that in today's expensive world you need a good health insurance policy for your family and parents. Hospitalization and Medical cost have risen significantly in India and expenditure ranging from 5 lakhs to 10 lakhs is nothing for a major critical illness like Cancer and Heart-related disease. It's simply not possible to arrange huge amounts, ranging from 5 to 50 lakhs for hospitalization and medicines at the time of need, it's both difficult and troublesome, that's why buying health insurance is a must for a family guy.  Indian government allows both residents and NRIs to claim tax rebates under section 80D for health care expenses for its spouse, children, and parents. Particularly for NRI, where parents are living in India, they should buy an adequate health insurance policy.