NRIs send money to India from different parts of the world. Likewise, Indians living and working in Australia often have to send money from Australia to India to their loved ones back home. There are several options to transfer money to India from Australia. Money transfer companies facilitate offline as well as online money […]
There are multiple options 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 […]
After returning to India, you will have the RNOR (Resident but not Ordinarily Resident) Status. The NRE Deposits need not be converted to resident accounts after your return to India. They can remain as-is till maturity. Consult NRI Taxation Expert There are certain benefits of the RNOR status: They don’t have to […]
Yes. An NRI can have multiple demat accounts. The usage of these multiple demat accounts can be understood under the concepts of: Repatriation: NRIs must have separate demat accounts for repatriable (NRE) and non-repatriable (NRO) shares which means if you invest through your NRE account, the money you receive after selling the shares/stocks is completely […]
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 […]
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: […]
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 […]
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, […]
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 […]
Gift from an NRI Relative to a Resident Indian is exempt from tax in India for both giver and receiver. Therefore, you don’t have any tax liability in India.