No, NRIs cannot deposit rent or any other income generated in India for which the taxes are not deducted at source in their NRE account because NRE accounts are used to maintain the income earned from outside India and both the principal and interest earned on NRE Deposits are fully and freely repatriable. Permissible Credits […]

Yes, NRIs can apply for Pan Card online through either of the processes:     Instant PAN Allocation in 10 minutes through Aadhar Card: Go to Income Tax Department’s e-filing portal Click on “Instant Pan through Aadhar” section under “Quick Links” Enter and Validate Aadhar Details and otp received on the registered mobile number Download […]

Yes, NRIs can have a Pan Card. An NRI PAN Card is same as a normal PAN Card. It is just a phrase used to differentiate between the card holders; whether they are Residents or Non-Residents.     NRI PAN Card Importance NRI Banking Accounts comprise of NRE, NRO and FCNR Accounts. A basic overview […]

No! A Pan Card is not a mandatory document for opening an NRI account. The basic use of a PAN Card can be associated with taxes. A PAN Card is a mandatory document to file taxes and carry on investments from these NRI Accounts. In the absence of the Pan Card, NRIs can sign Form […]

Most of the Top Banks opt for an Average Quarterly Balance (AQB) or  Average Monthly Balance (AMB) to open an NRE/NRO Regular Savings Accounts. The average AQB/AMB of most of the top banks for opening an NRE/NRO Account is Rs.10,000/- which can be understood as the minimum balance for NRE/NRO Account in India:   Minimum […]

Refer to the table below to understand about the various types of NRI Accounts: Types of NRI Accounts Factors to consider Non Resident External (NRE) Account Non Resident Ordinary (NRO) Account Foreign Currency Non Resident (FCNR) Account Purpose For income earned outside India For income earned from India (pension, rent etc.)  Foreign Currency Investment in […]

NRI Investment in Real Estate in India NRI investment in Real Estate in India can be understood by interpreting the fundamentals of Where to Invest and How to Invest. NRIs can easily invest in real estate in India, read along to know how.. Where to Invest: NRIs can buy both residential and commercial properties in […]

Yes. You can invest foreign currency in India by opening an FCNR or Foreign Currency Non-Resident Deposit Account (NRI fixed deposit accounts for depositing money earned abroad in foreign currency for a fixed period ranging from 1 to 5 years with tax-free interest) with banks facilitating investments in all the freely tradable global currencies.   […]

To be eligible for an NRI status: A citizen of India must stay overseas for 183 days or more in one financial year. If a citizen of India stays in India for less than 365 days in the last 4 years from the year of assessment and less than 60 days during the year being […]

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