![Is it Mandatory to Open NRI Accounts for Indians Living Abroad? [Answered]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5M2c2PV15zbUNuzMTb8bZQXvYeAr7JjD60G88lOZDatljK3zXbQFx7WPOzz-qIKi-IdXQD3QHo6eyn430dXiQeRy6l_3iQ4kPNnAtx5VyR9XK7LOlH1Q6xjXjeTfHey31zggP-kScMlg/w588-h331/Is+it+mandatory+to+open+NRI+accounts+for+Overseas+Indian.png)
If you have recently moved overseas from India and wondering should you open an NRI account or not then you should read this article. Do I receive questions like why should I open an NRI account? Is it mandatory for NRI to open …
One of the common questions among new NRIs or Indians who just went abroad is whether they can deposit rupees in an NRO account or not? The short answer to this question is YES, you can deposit INR or Indian rupees into an NRO …
Based upon my knowledge, Aadhar Card is mandatory for filling income tax return this year for all resident Indians . They even need to link their PAN Card to Aadhar card before filling income tax returns, but for NRIs, Aadhar car…
Yes, you can repatriate funds from NRE, NRO, or FCNR account abroad, but each has its own rules and limitations. For example, both NRE and FCNR accounts are most flexible in terms of repatriation, also known as freely repatriab…
One of the most common question among NRIs (Non-resident Indians), especially among IT professionals traveling to the USA, UK, Singapore onsite is whether they can transfer funds from one NRE account to another NRE account , or …
In the last article, I told you how much Indian currency NRIs are allowed to take Overseas , and in this article, I'll talk about how much foreign currency NRIs are allowed to bring India and then take back while going Overs…
The short answer is No , you don't need to file the income tax returns in India if you have no income, but, rarely, you don't have income. You might not have a salary income because you are employed overseas, but you co…
In 2016, After Donald trump's victory and historic decision on Rupee demonetization in India, many of my friends working in living me asked the question whether now is the best time to send money to India from the USA? Well,…
NRIs are allowed to buy and sell properties in India, and they can also bring the profit post-sale of their property abroad, but there are a couple of things which you need to learn and remember. For example, you need to know t…
This is one of the most frequently asked questions among Singapore NRI community. I often receive queries from IT professionals working in the city-state who have home loans back in India and thinking to pay off in full or a por…
Ever since the income tax department of India made it mandatory to linked PAN card to Aadhaar card and ask every taxpayer to quote Aadhaar card number into the income tax return, many NRIs become worried. The reason was simple, …
As an India citizen, it's important for an NRI to know it's rights and responsibilities, especially about finance, tax, banking, and investments. When I first moved abroad I have absolutely zero knowledge of any of these…
India is getting prosperous and foreign trip are not a privilege only rich people had in the past. Nowadays, many middle and upper-middle-class Indians are traveling abroad for holidays, vacations, honeymoons, study and just f…
Hello Guys, welcome to the last post of 2017 in NRISavingsFunda and what could be the better topic than "linking Aadhaar" to close out the year. In this article, I'll show you how to check the status of your Aadhaa…
If you hold an insurance policy in India, get ready to link it with Aadhaar. After bank accounts , PAN card , and mobile phones, it's time for insurance policies to be updated with Aadhaar number. Many NRIs have bought Life …
Yes, Under the exchange control law, NRIs are allowed to buy property in India except for agricultural land, farm house or any plantation property. This means NRIs can buy flats, bungalows, residential plots, and landed propert…
Yes, NRO account is taxable in India . Both interests earned on NRO saving account and NRO fixed deposit are taxable under income tax law of India at the rate of 30% plus applicable cess and surcharge, which comes around 30.9…
One positive side-effect of Digitalization of financial services and Bank is increasing cashless transaction, be it by using Debit card, Credit, Card, Mobile Wallets e.g. Paytm, or cheques. If you look at all of them Cheque is p…
Recently many of my colleagues received an email from their banks e.g. ICICI and HDFC bank regarding their saving accounts to update Aadhaar on their bank accounts, the deadline to link Aadhaar with a bank account is 31st Decemb…
Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kota…