RETURNING NRIS

Dividend from shares and MF: You have to pay income tax on all dividend received, however there is a way using which you can reduce the net tax outgo on dividend income. "Only interest expenses are allowed as a deduction from dividend income," says ...

Reporting foreign income in ITR: Individuals who have assets and income from overseas sources are mandated to utilize either ITR 2 or ITR 3 forms when filing their tax returns. This is because Schedule FA, which is specifically designed for reportin...

NRIs remain a key segment for wealth managers due to India's growing economy and attractive investment opportunities. Wealth managers must offer robust products and services, hold proper licensing, provide knowledgeable relationship managers, have d...

ITR forms to use: When you file your income tax return, it is imperative to select either ITR 1 or ITR 2, based on your income sources for the fiscal year. Utilizing an incorrect form may prompt correspondence from the tax authority, necessitating r...

Non-resident Indians (NRIs) are required to file Income Tax Returns (ITRs) if their income in India exceeds ₹2.5-3 lakhs, facing penalties, including potential imprisonment, for non-compliance. Exceptions apply if NRIs have no income in India, yet f...

"... 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 achi...

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 202...

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 rewar...

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 correc...

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.

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...

"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.

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.

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 finan...

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 Karna...

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 strea...

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.

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 ta...

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....