NRI - India Property Mela at Leicester (UK)

NRI - India Property Mela at Leicester (UK) India Property Mela organised by Services For NRI at Leicester (UK). Leicester  is calling! This Festive Season showcase your properties to NRI’s/ PIO’s/OCI’s at   “The India Property Mela 2015, Leicester (UK)" . •        Date:  Jun…

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NRI and FCNR..!

Question:  When a non-resident Indian (NRI) returns to India, what happens to his/herforeign currency non-resident (FCNR) deposit? Reply by Ms. Sonu Iyer, Tax Partnet and National Leader, Human Capital Services, EY.

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Income From Invested remittance in India is taxable

Income From Invested remittance in India is taxable Any income generated on investment of the remitted money in India would be subject to tax Ms. Sonu Iyer, Tax Partner and National Leader, Human Capital Services, EY Earnings in the US that are subsequently remitted to an Indi…

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NRI: Are There Any Income Tax Exemptions in India

For an NRI, are there any tax exemptions in India...!  Reply by Ms. Sonu Iyer, Tax Partner and National Leader, Human Capital Services, EY There are certain incomes that are fully exempt. Long-term capital gain arising from transfer of equity shares or units of equity-oriente…

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NRE Verses NRO Account

A non resident can invest  in NRE (Non-Resident External) or  NRO (Non–Resident Ordinary)  Account. In NRE accounts 1. The funds are not taxable. 2. Repatriation of funds in full is permitted. 3. Local earnings and any other local credits are not permitted. In NRO accounts, 1. …

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RBI Doubled Overseas Remittances for individuals upto $,2, 50,000

The Reserve Bank of India (RBI) has doubled overseas remittances for individuals upto $ 2,50,000 per individual per year under the Liberalised Remittance Scheme (LRS). RBI has also been decided in consultation with the government that all the facilities for release of exchang…

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SBI Virtual Credit Card - FAQs - Part 6

Is my  SBI Virtual Card an International Card?     No, the Virtual Card is a domestic Card and can be used for online payment in Indian Rupee (INR) in India, Nepal and Bhutan only. Can I use my Card for payment in a currency other than Indian Rupees? No, currently the Virtual …

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Mutual Fund Investing norms for Non-Resident Indians..

by CAMS Viveka Non-Resident Indians (NRIs) are allowed to invest in mutual funds in India. We answer some queries on the investing norms for NRIs. Can a non-resident Indian (NRI) / person of Indian origin (PIO) invest in mutual funds?  Can NRIs from any country invest? Yes. NRI…

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No Need to Report Overseas Remittances for Property Purchase: RBI

The Reserve Bank of India (RBI) has further eased the process for resident Indians to send money abroad for purchase of property. In a notice to all banks, the central bank RBI has said that residents can remit up to $ 1,25,000 a financial year for purchasing property outsid…

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Myths About NRI Housing Loans..

Ms. Sukanya Kumar, RetailLending.com Let’s clear the air around some of the common misconceptions about home loans for N on- resident Indians ( NRIs ) There are a number of Indians who have settled abroad for better career opportunities. For them, a property back home usually gives…

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BUDGET 2014-15: Presumptive Taxation for NRI

In the case of a non-resident Indian (NRI) taxpayer  Business Rate at which income is presumed Shipping 7.5 % of gross receipts Exploration of mineral oil 10 % of gross receipts  Operations of Aircraft 5 % of gross receipts Turnkey power projects 10 % of gross receipts

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ICICI Bank: Pro & Premia Savings Accounts for NRIs

ICICI Bank, India’s largest private sector bank, announced the launch of 2 new saving accounts products  NRI Pro and NRI Premia  for NRI customers. With these launches, ICICI Bank now offers  3 tiered savings accounts for NRI customers Regular, Pro and Premia. The  3 tiere…

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2013-14: NRIs push $ 200 Crore in Indian real Estate Sector

Making the most out of the weak Indian rupee and heightened promotions by property developers / promoters, the non-resident Indians have pushed a staggering sum of over $ 200 crore in Indian real Estate sector in the just concluded fiscal - 2013-14. The move in turn will in…

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Tax Implications For NRI: Return of the Native

by Mr. Adhil Shetty, BankBazaar.com NRIs are often confused about the tax implications of coming back to India for good. We dispel the doubts.. With the world looking at India as a hub of commercial activity and a potential powerhouse of trade, many non-resident Indians (NRIs…

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Should NRIs Invest in Indian Real Estate

by Mr. Arjun Parthasarathy, Editor, Investorsareidiots.com NRI investments in real estate in India are fraught with risks and if made at the wrong time leads to high losses. Let me give you anecdotal examples. Stand alone house There was this US based NRI who had invested i…

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