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 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 18/03/2020
NRI Status 2020: NRI status can be attained by an Indian Citizen if he/she stays overseas for more than 182 days in a financial year. Calculating your NRI Status 2020 To calculate the number of days and your NRI status 2020 or for previous assessment years, you can visit the Indian Income Tax […]
SBNRI Team
answered on 19/04/2021
Latest FCNR Deposit Interest Rates What is an FCNR Account? A Foreign Currency Non-Resident (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. The interest is earned in […]
SBNRI Team
answered on 23/03/2020
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. However, you can apply for a new PAN Card […]
SBNRI Team
answered on 23/03/2020
There is only one Pan Card that is issued to all Indians. It doesn’t matter if they are a Resident or a Non Resident Indian (NRI). The term “NRI Pan Card” has just been coined by people to differentiate between the Pan Cards issued to Indian Residents and NRIs. Can NRIs have a PAN […]
SBNRI Team
answered on 30/03/2020
No. There are no taxes on money transferred from India to the US in India. Avoid Double Taxes on money transferred from India to the US However, In order to avoid tax implications in the USA, you need to declare the source of income in the US. NRIs in the USA must consult their […]
SBNRI Team
answered on 24/03/2020
There are multiple mediums to send money from abroad to India. Refer the table below and choose the best suited medium for yourself. *Money Transfer Operators: Money transfer operators (MTOs) are financial companies (but usually not banks) engaged in cross border transfer of funds using either their internal system or using their collaborations […]
SBNRI Team
answered on 19/04/2021
Latest NRE FD and NRI Savings Account Interest Rates 2021 Banks Savings Account Rates Tax-Free NRE FD Interest Rates Federal 2.50% Up to 5.50%* SBI 2.70% Up to 5.40%* Citibank 2.50% Up to 3.50%* Bank of Baroda 2.75% Up to 5.25%* Canara Bank 2.90% Up to 5.50%* Indian Bank 2.90% Up to 5.25%* ICICI […]
SBNRI Team
answered on 05/03/2021
You need to trace your PAN Correction Application to know the developments in your application. If any issues/concerns/errors were raised by the department then that has to be resolved to process your application further and then your old PAN will be deactivated. The process to trace your PAN Correction Application is as follows: […]
SBNRI Team
answered on 05/03/2021
Non residents having income from salary in India are generally required to file their return in ITR Form 2. However, we need to thoroughly check all the different sources of income and then can decide which ITR form will be applicable. You can connect with our taxation expert directly on WhatsApp using the button […]
SBNRI Team
answered on 05/03/2021
In your case, it would be preferable to convert your funds from NRE Account to an FCNR Account before you return to India. Doing that will give you the benefit of converting the FCNR into an RFC account post your return to India. After the conversion of an FCNR Account to an RFC Account, […]