SBNRI Team
answered on 16/11/2020

Yes, you will be an NRI for (2020-21) since you haven’t stayed in India for 365 days or more in the previous 4 years.   Regarding FCNR Deposits, you can continue them till maturity after returning to India. Post maturity, you can convert them into Resident Foreign Currency (RFC) Account. You don’t need to convert […]

SBNRI Team
answered on 16/11/2020

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 16/11/2020

We have made a special video on how to select the cheapest medium for remittance. You can find the video below:   https://youtu.be/Conk-4yG5-g   Keeping in mind the factors mentioned in the video, which are: Final amount received Exchange rate, and Time frame (Urgency) We’d suggest you to go ahead with Transferwise whom we have […]

SBNRI Team
answered on 16/11/2020

Your Demat Account will directly relate to your residential status: If you’re completing the stipulated number of days outside India (184 days or more in one financial year) then you’ll be required to open an NRI Demat Account. If you’re not an NRI as per the stipulated number of days (i.e. if you’re staying 184 […]

Jay asked on 16/11/2020
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SBNRI Team
answered on 16/11/2020

A PAN Card is not a mandatory document to open an NRO Current Account. However, a PAN Card will be required when you repatriate the money outside India.   Click on the button below to connect with our expert for more such queries.  

SBNRI Team
answered on 16/11/2020

As an NRI, your salary earned in UAE won’t be taxed in India. Hence, in such a case there is no need to fill Schedule TDS and the income can be disclosed as exempt income in the ITR.   For assistance with filing your tax returns in India, click on the button below and connect […]

SBNRI Team
answered on 16/11/2020

You can send a maximum of USD 2,50,000 abroad per year. This is the maximum limit under the Liberalized Remittance Scheme (LRS). There are no additional charges. The money can be sent on the ongoing exchange rate.   Find the best way to send money abroad. Click on the button below to connect with our […]

SBNRI Team
answered on 16/11/2020

Yes, he will be an NRI for the year as he is staying more than 182 days outside India.   Definition of an NRI   For further assistance with NRI Banking, Investment, Remittance or Taxation, click on the button below to connect with our expert.  

SBNRI Team
answered on 16/11/2020

You can very conveniently continue your child’s education in India. The Central Board of Secondary Education (CBSE) is the largest board in India with over 17000 schools affiliated to it.   As far as the mother-tongue issue is concerned. Hindi, as a language isn’t compulsory all over India.   Under the new education policy, the […]

SBNRI Team
answered on 16/11/2020

To send money instantly from Saudi Arabia to India, you can use the STC Pay app powered by Western Union.   The remittances have a fixed charge of 15 SAR and the money can be transferred from bank to bank or can be received in India at the Western Union centers as cash.   The […]

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