SBNRI Team
answered on 03/04/2020
Account Opening Grid: Open an NRI Account Documentation Requirements NRE/NRO/FCNR Account opening process for each bank is different. The structure to open an NRI Account is – 1. Get the required documents ready, 2. Attestation and KYC 3. Bank gets the courier pick up done from NRI’s residence or NRI couriers it to […]
SBNRI Team
answered on 11/09/2020
1. Yes you can continue to invest in your PPF Account after becoming an NRI on a non-repatriation basis. But you can only do so till its maturity (15 years). You can not extend the PPF account once it’s matured. 2. No sir. You can’t have a savings account in India after becoming an […]
SBNRI Team
answered on 24/05/2023
Only the interest that you earn from your NRO Account is taxable. Therefore, the interest on the money that your friends or family will deposit will be taxable in India. Also, there are certain limitations and tax implications while accepting and sending gifts as an NRI. Click on the button below to connect with […]
SBNRI Team
answered on 20/02/2023
Can I deposit cash in my NRO account? Yes, you can deposit cash in an NRO account after sharing the source of income of the money that you are depositing with the bank. To open an NRO Bank Account or ask any questions related to NRO account, click the button below. […]
SBNRI Team
answered on 12/02/2023
No. There are no taxes on money transferred from India to UK in India. Avoid Double Taxes on money transferred from India to UK However, In order to avoid tax implications in the UK, you need to declare the source of income in the UK. NRIs in the UK must consult their CPA (Certified […]
Manoj Negi
answered on 16/05/2023
Latest FCNR Deposit Interest Rates (USD) April 2023 What is an FCNR Account? A Foreign Currency Non-Resident or FCNR Account is a term deposit account in India for an NRI. It can be maintained in foreign currencies such as USD, GBP, EUR, etc. for a fixed tenure ranging from 1 to 5 years. […]
SBNRI Team
answered on 26/04/2023
Yes. Indian Residents can open a joint account with an NRI on “either or survivor” basis according to the Reserve Bank of India (RBI) guidelines. The term “either or survivor” refers to the condition where both of the account holders can operate the account independently in the absence of the other account holder. […]
SBNRI Team
answered on 26/04/2023
NRI as per Income Tax NRI as per Income tax isn’t defined directly which means that there is no definition for Non Resident Indians (NRIs) under the IT Act, but it lays down certain criteria to certify citizens as residents of India. New Rules for NRI Taxation According to New Rules for […]
SBNRI Team
answered on 19/03/2023
There are no direct provisions to change citizenship in a Pan Card as the PAN Card doesn’t display your citizenship. It is a document required to file taxes, carry out investments and do transactions in India whether you are a citizen, NRI or OCI. To change the citizenship in a PAN card, you need […]
SBNRI Team
answered on 05/04/2023
An NRO account is a rupee-denominated bank account opened by Non-Resident Indians to save and manage their earnings in India, such as rental income, dividends, pension, etc. Many Indian banks allow NRIs to open an NRO account, including SBI, HDFC Bank, ICICI Bank, Axis Bank, etc. Permissible credits in an NRO account include remittance from […]
SBNRI Team
answered on 04/04/2023
Portfolio Management Services (PMS) are investment vehicles designed to provide professional management of portfolios, enabling NRI investors to achieve their financial goals. Choosing the right PMS is critical to ensure that your investments are managed effectively for the long term and generate the returns you are looking for. Fortunately, there are many portfolio management services […]
SBNRI Team
answered on 23/03/2023
Yes! To get a Pan Card instantly (in under 10 minutes), all you need is an Aadhar Card. Follow these steps to get your Pan Card in 10 minutes: If you have an Aadhar Card: Go to Income Tax Department’s e-filing portal Click on “Instant Pan through Aadhar” section under “Quick Links” Enter and […]
