RETURNING NRIS
Sebi for mandatory disclosure of risk-adjusted return by MFs
"... it is felt that the risk adjusted return (RAR) of a scheme portfolio represents a more holistic measure of the scheme's performance because it quantifies the amount of return generated by a mutual fund scheme for each unit of risk taken to achieve that return," Sebi said in a discussion paper.
NRIs want Budget 2024 to ease 6 tax troubles: TDS on property sale, disparity in LTCG, dividend taxation and others
Under Indian tax laws, NRIs are taxable on their Indian-sourced income, such as capital gains, dividends, and interest. They are generally taxed similarly to residents but may face less beneficial rules in specific scenarios. The upcoming Budget 2024 may offer relief to NRIs in these areas.
NRIs of the world, keep on depositing
Non-resident deposits in India are growing steadily due to various positive factors, including the impact of the pandemic on savings patterns and stable remittances. Factors such as interest rates and exchange rates have made NRI deposits more rewarding.
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.
ITR filing forms for FY 2023-24 (AY 2024-25): Which income tax return form applies to you?
ITR forms: The important part of ITR filing process is to identify the correct the income tax return form applicable to their incomes. Filing income tax return using wrong ITR form will make the filed ITR as defective ITR. Read on to know the correct tax return form applicable to your incomes.
RFC account for NRIs: What is it, eligibility, how to open and more
For non-resident Indians (NRIs) planning to return to India, managing foreign earnings and assets efficiently is crucial. One effective way to do this is by opening a Resident Foreign Currency (RFC) account.
- Go To Page 1
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.
HSBC and StanChart step up GIFT City play, buy stakes in CCIL-IFSC
"Being the global bank that we are, what we do, therefore, is connect India to the rest of the world and connect the rest of the world to India and GIFT is clearly onshoring what was happening offshore," HSBC India CEO Hitendra Dave told ET.
Look a GIFT IFSC horse in the mouth
Tax benefits can be denied on issue of beneficial ownership for ODIs issued abroad. Treaty abuse conditions don't apply to ODIs issued in IFSC.
NRIs struggle with new mutual fund KYC rules: 3 reasons making MF investments difficult for them now
Mutual fund KYC rules for NRI: The Securities and Exchange Board of India (Sebi) has implemented new Know-Your-Customer (KYC) rules from April 1, 2024. The new KYC rules are not only created problems for domestic mutual fund investors but also for Non-resident individuals as well. Here are three issues creating problems from NRI and OCI mutual fund investors.
Is it a good idea for NRIs to buy insurance from India?
Indian insurance policies offer NRIs flexible options like insurance-cum-investment plans, including child plans, to secure their family's future. These plans provide essential financial security and peace of mind, especially for NRIs managing finances from afar.
NRIs return home, line up for love of vote
Expatriates from the UAE, including Anwar Naha, returned to Kerala to vote, with chartered flights organized by KMCC. NRIs from various countries made efforts to vote in the Lok Sabha elections, some traveling to coastal states like Kerala and Karnataka, while others returned to Meerut in the north. Expatriates' participation, especially via chartered flights, drew attention in Kerala, while NRIs in Mangaluru and Bengaluru also prioritized voting. Harsha DM and Spoorthi CS flew from Sydney to cast their votes in Bengaluru's Bangalore North constituency.
Stock Market Trading for NRIs: A comprehensive guide to 3-in-1 accounts
NRI 3-in-1 Account simplifies Indian stock market investments for NRIs through integrated banking, demat, and trading accounts. It provides convenience, diverse investment options, and seamless fund movement, enhancing trading efficiency and flexibility.
Decoding tax rules for NRIs working remotely from India for foreign employers
The pandemic led to work flexibility, impacting NRIs with significant tax implications. The article discusses tax laws, DTAA, Act exemptions, TRC requirements, foreign assets reporting, and employer tax implications for NRIs opting for remote work.
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.
Income Tax filing: The three biggest challenges for NRIs when filing their taxes
India now boasts the largest overseas diaspora globally, with around 32 million Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs), mainly concentrated in Gulf countries, Singapore, the US, Canada, and the UK. Despite efforts to streamline taxation processes for NRIs, challenges persist, notably double taxation and difficulty accessing taxation documents from abroad.
Homecoming: Why NRIs are choosing India as their retirement destination
In recent years, there's been a notable trend of Non-Resident Indians (NRIs) choosing India as their retirement spot, often called 'homecoming.' This article explores why India is becoming a favored destination for NRI retirees.
How to file income tax returns: A step-by-step guide for NRIs
Every financial year, NRIs must first ascertain their residential status. According to the Income Tax Act of 1961, a non-resident Indian who travels to India or an Indian citizen who leaves the country for work may stay in the country for up to 181 days without losing their non-residential status. According to the Income Tax Act, 1961, a person would be regarded as a resident of India for any prior year if any of the following criteria are met: If the individual spent 182 days or more in India the year before, or if the individual spent 60 days or more in India the year before and 365 days or more in the four years that directly preceded the prior year. If a person does not meet the aforementioned requirements, they will be considered non-resident for that particular year.
Evolving demand: Primary driver of NRI investment in Indian real estate
The Indian real estate sector is experiencing a surge in interest from Non-Resident Indians (NRIs) due to increasing prosperity among the Indian diaspora worldwide. This interest is driven by factors such as higher income levels, favorable economic outlook, and advantageous price differentials.
Income tax made easy: NRIs' complete guide to income tax filing
Srishti, an NRI, discovered INR 20,000 TDS on her NRO account. Does she need to pay tax in India? Is filing income tax return mandatory? Explore tax-saving instruments, tax-exempt proceeds, and financial compliance.
Karnataka plans new ministry to address concerns of NRIs
Karnataka plans to establish a ministry for the well-being of Kannadigas living abroad, aligning with promises made in the Congress's 2023 assembly polls manifesto. The ministry aims to address the concerns of NRIs and provide necessary assistance.
NRIs in the US: Can the India-US tax treaty help you save more on your investments?
Understanding the residential status is crucial for NR taxpayers in India to determine their scope of taxable income and reporting obligations. Taxation is limited to income earned within the country, with different rates depending on the Act and tax treaties.
Why NFOs by insurance companies should be on NRIs’ investment portfolio
Investing in India is a smart financial move for Non-Resident Indians (NRIs) due to cultural connections and attractive opportunities. New Fund Offers (NFOs) are gaining popularity, providing ground-floor investment opportunities and diversification benefits. Insurance companies' NFOs offer risk-adjusted returns and align with India's economic growth trajectory, making them a wise choice for NRIs.
Budget 2024: NRIs expect simplified TDS compliances
Interim Budget 2024: Lately, there has been a heightened emphasis on deductors adhering to TDS (Tax Deducted at Source) regulations, and failure to comply carries significant penalties. However, managing TDS compliances operationally can be intricate and time-consuming, posing interpretational challenges and placing an extra burden on the deductor. Read on to know how Budget 2024 can help ease the TDS pain.
Interim Budget 2024 could simplify ITR filing process for NRIs
NRI ITR filing: The income tax return filing for non-residents (NRI) is a painful process. This is because they are required to use ITR- to report for simple incomes such as interest income, dividends etc. However, resident individuals can use Simplified ITR-1 or Sahaj to report similar incomes. Union Budget 2024 in February should address this issue.
Ease TDS rules for buying house property from NRIs in Budget 2024
The government needs to facilitate ease of transacting and reduce compliance difficulties in buying property from NRIs. This is because a buyer needs to obtain TAN from income tax department to deduct and deposit taxes when buying property from NRI. This makes the selling of property by NRI very difficult.
Tax and disclosure norms: NRIs asked to state number of days spent in India
Unlike residents, NRIs are not required under the law to pay tax on overseas earnings or declare foreign assets. However, if they overstay - spending more than 181 days in a year in India - tax and disclosure regulations, as related to residents, apply to them.
The annual migration of 'Homo NRIensis'
During winter in India, along with migratory birds like Siberian Cranes and Bluethroats, a human species called Homo NRIensis returns. These are Indians living worldwide who flock back, lightly clad, defying the local chill. Distinguished by foreign attire, accents, and accessories, they join family gatherings. The migration's essence lies in warm reunions—a unique diasporic tradition, though its continuity rests on how India feels like home for the newer generation.
NRIs park more forex in India on yields, safe haven appeal
Fresh inflows under FCNR(B) which eliminates currency risk for NRIs, touched $2 billion in April-October, compared with an outflow of $841 million in the same period a year ago, showed the latest Reserve Bank of India (RBI) data published in its monthly Bulletin. Overall, fresh NRI deposits doubled to $6 billion during the April-October of 2023, from $3 billion in the same period a year ago.
Load More
