I come to know about this excellent pension scheme just now after listening respected Prime minister Narendra Modi Ji's independence day speech. Since many Indians works in private sector where there is no pension and Indian provides no social security to its citizen like European nations, it's very important for individuals to take care of their retirement and pension need. In order to encourage and help people, Narendra Modi government has launched Atal Pension Yojna on 1st June 2015. It's like Swablamban Scheme already running with NPS (New Pension System).
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.
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.
Is NRIs, PIOs, and OCI holders are eligible for Aadhaar Card?
One of the common doubt among NRI community is whether they are eligible for Aadhaar Card or not. The doubt has created more worry with the recent announcement of the Indian government that Aadhaar will be mandatory for filing income tax in India and every tax payer has to link their PAN card to Aadhaar card before 30th June, failing to do may result in cancellation of PAN card. While, I am not aware of any official communication about the cancellation of PAN card if not linked to Aadhaar, but that's what I see on the Internet.
Does it Right time to Invest in Indian Stock Market?
I was thinking is it right time to invest in Indian Stock Market? As no one can predict equity or time the market, for long term investor, every time is the right time. Looking at what happening at the moment in India, as it just got a stable government with everyone from common people to the corporate world is hoping no non-sense governance, things really look very attractive. Indian stock market is in a roll from March, stocks like SBI has gained almost 100% or doubled within three months.
Opening an NRE Fixed Deposit? Compare Interest Rates among Banks
NRE Fixed deposits are one of the best options for NRIs. It's safe, offer
fixed and good returns and most importantly
interest earned on NRE fixed deposit are not taxable in India. On top of that, you can also repatriate (send money to overseas from India)
both principle and interest. Still, there are a couple of things every NRI
should know about NRE fixed deposit before booking. Most important of them is
that
minimum tenor for earning the interest on NRE Fixed Deposits is 1 year.
If you withdraw or break your NRE FD before 1 year then no interest will be
paid.
How to Renew Indian Passport at Overseas? Does Passport Number changes Upon Renewal?
If your passport has been expired or about to expire and you are living outside India then you can submit your passport renewal application at Overseas itself. Indian High Commission and their affiliate agent accept passport renewal application. Btw, when you submit an application for renewal of your passport then your passport number will change. The new passport will have a new number and you need to update this number to everywhere e.g. bank accounts and other places where you have submitted your passport details.
How to convert existing Resident Saving account to NRO Account in India?
When a Resident Indian becomes an NRI he needs to convert his Resident saving account to NRO account as per Indian banking and income tax laws e.g. FEMA. The NRO account provides the simplest way to access and operate the money and investments already made in India. These accounts can receive foreign remittances, can have a joint account holder who is a resident India e.g. your mother or father, and RBI also permits repatriations from NRO account to abroad limited by a maximum annual amount.
Can NRIs Invest in Stock Market and Mutual funds in India?
Yes, NRI can invest in the stock market as well as in mutual funds in India, provided they have an NRE saving account in India. Investing in a Mutual fund is easier than directly investing in Stocks because you don't need a Demat account to invest in the Mutual fund and also there are a lot of restriction applicable to NRI directly investing in Stocks. So if you don't want to go through the hassle of opening a Demat account and a Portfolio Investment account, required by RBI to keep track of NRI investment on the stock market, it's better to invest in Mutual funds and exchange traded funds.
How to Send Money Abroad/Overseas from NRE or Resident Bank Account - [Online Outward Repatriation]
You can send money abroad on your overseas savings account from an NRE account in India. You can do this both online from the comfort of your office or home and offline from any branch of your bank. This is also known as repatriation or outward remittance. Almost all banks in India, both private sectors e.g. HDFC bank, ICICI, Kotak, YESBANK, Citibank, and public sector banks like SBI, Bank of Baroda, Bank of India, and others provide an online facility in their net banking website to transfer money to your overseas account.
How to send money from USA or Canada to India instantly online in 1 hour? - ICICI Money2India Express Transfer
I recently come to know about ICICI bank's powerful service called express e-transfer which allows ICICI bank Money2India users to send money instantly to India from the USA and Canada to India. ICICI bank claims that they will credit the money in just 1 hour compared to 5 days in case of regular electronic transfer if the recipient account in India is another ICICI bank account and 2 hours if it's a non-ICICI bank account e.g. HDFC or Axis Bank. This is simply great and as fast as transferring money from one account to another in India itself.
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