NRI MEDICAL
ET Explains: LRS for foreign currency accounts in GIFT city
That approval for expanding the scope of services potentially multiplies the business opportunity for banks in the GIFT city more than five times. ET explains what LRS is and the different permissible and non-permissible transactions under this program, and how banks and individuals stand to benefit from the new rules.
Residents can open foreign currency a/cs at GIFT City under LRS
Resident Indians can now open foreign currency accounts (FCAs) at Gift City under the liberalized remittances scheme (LRS) for a wider range of purposes. This includes sending gifts to friends abroad, buying property overseas, purchasing insurance, making fixed deposits, paying for education loans, and funding international travel. The Reserve Bank of India (RBI) has expanded the LRS rules at International Financial Services Centres (IFSCs) like Gift City, aligning them with global financial centers.
KIMS shares surge over 4% after company enters agreement for 100% acquisition
Krishna Institute of Medical Sciences saw a 4.4% increase in shares following the acquisition of Chalasani Hospitals.
For NRI quota in government medical colleges, Karnataka govt wants 500 additional MBBS seats
The Karnataka government has urged the Centre to approve extra MBBS seats in autonomous government medical colleges under the Department of Medical Education starting from the academic year 2025-26. Medical Education Minister Sharan Prakash Patil stated that he has formally requested the Chairman of the National Medical Commission (NMC) to authorize a 15% NRI quota by creating 508 additional supernumerary MBBS seats across 22 government medical colleges in the state.
Explained: Adoption procedure for NRIs, OCI cardholders, and foreign nationals
Non-resident Indians (NRIs), Overseas Citizen of India (OCI) cardholders, and foreign nationals have equal priority in adopting orphaned children in India. A detailed guide outlines the eligibility, registration, document requirements, and post-adoption formalities for NRIs and foreign prospective adoptive parents.
How NRIs can get Aadhaar cards made: A step-by-step guide
NRIs looking to return to India or stay for an extended period value the Aadhaar card as a crucial identification document issued by UIDAI.
How NRIs can extract maximum value from voluntary deductible in their health insurance
Indian software engineer Ravi moved to the US for a career opportunity but overlooked his health insurance policy in India. After realizing the importance of coverage during visits, he reinstated his Indian policy for financial security and peace of mind.
Spreading your desi roots: How NRIs can build a sustainable corpus
NRIs navigate challenges by diversifying investments in India, focusing on equities, alternative funds, and real estate. Strategic allocation based on risk profile and financial goals ensures long-term growth and stability.
I am an NRI planning to relocate to India. Can my investment corpus generate Rs 1 lakh a month?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Can foreign tax credit claim be changed in revised ITR? Budget 2024 should clarify
Under the income tax laws, an individual is taxed based on the residential status. A residential status can either be resident or non-resident. Further, a 'Resident' is categorised into Not Ordinarily Resident (NOR) or Ordinarily Resident (OR) depending on his/her physical presence in India during the previous financial years. Read on to know how it impacts individual.
Wealthy Indian-origin couple, daughter found dead at their US home; police suspect domestic violence
The family's sprawling mansion — estimated to be worth USD 5.45 million — went into foreclosure a year ago and was sold to the Massachusetts-based Wilsondale Associates LLC for USD 3 million, according to The Post.
Grant of fixed medical allowance for pensioners, family pensioners under NPS
This announcement was via an office memorandum dated December 6, 2023 by the Ministry of Personnel, Public Grievances and Pensions.
How are NRIs taxed: 8 questions on residency status, taxable income, deductions and exemptions, ITR forms
Here’s everything you wanted to know about taxation that NRIs are subjected to in India.
Indian medical graduates can now practice in US, Canada & Australia
The National Medical Commission (NMC) of India has received recognition from the World Federation for Medical Education (WFME) for a period of 10 years. This recognition allows Indian medical graduates to practice medicine in countries that require WFME accreditation. It also positions India as an attractive destination for international students due to its globally recognized standards.
After SC's order, Deemed universities abolish NRI quota, move seats to open category
Several medical institutions have scrapped the NRI (non-resident Indian) quota and reduced the number of seats available in the NRI category following the Supreme Court's directive to conduct all admissions online. The move towards increased transparency in the business of medical education has been viewed positively by educationists and parents of aspiring doctors.
CBDT scanner on transactions at IVF, med colleges providing seats under NRI quota and luxury retailers
India's Central Board of Direct Taxes (CBDT) has intensified its scrutiny of transactions at IVF clinics, NRI college admissions, luxury goods shops, hotels and banquets, due to evidence of large cash transactions at these places. A rule requiring the reporting of transactions of more than INR200,000 ($2,788) has reportedly been widely ignored, while large amounts of cash transactions remain undocumented.
NRI newsmakers: Meet Zoya Vora-Shah, an Indian entrepreneur shining in Arizona’s viticulture
I have been lucky to immigrate to the country via family reunification. Our family waited for nine years in India so that we can have a legal path to citizenship here. Once we got to the USA, we were given a green card which gives you the same rights as citizens except to participate in elections.
ED registers money laundering case, conducts raids against promoters of Andhra medical college
"Fifty-three document of immovable properties suspected to be involved in money laundering have been seized and freezed and various other incriminating documents and electronic devices found connected with the alleged diversion of funds have also been seized," the ED said in a statement.
NEET tail-enders jump queue, grab med seats
MBBS aspirants who missed out in the initial rounds of seat allotment and pinned their hopes on vacant NRI quota seats have been bested by students at the tail end of the NEET qualifying list helped by NRI sponsors.
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