As per the FEMA Notification under the Reserve Bank of India, with respect to Power of Attorney for an NRI in India, it is stated that: Authorized dealers / banks may allow operations on an NRO account in terms of a Power of Attorney, provided such operations are restricted to:(i) all local payments in rupees […]

The STCG on debt funds are deducted at 30% TDS but the tax liable is as per your tax slab. Therefore, you are entitled to a refund as per your tax slab.   For LTCG, 20% TDS is deducted and the tax liable on LTCG is also 20% along with indexation benefits. Therefore, in this […]

FATCA Details enables you to share your tax details with respect to your country of residence which includes your Tax Identification Number. The motive of FATCA is to prevent individuals from parking their wealth outside their resident country and avoid taxation from such wealth.   Click on the button below to connect with our expert […]

The NRE FDs doesn’t need to be converted to resident accounts after you return to India. They can remain as-is till maturity.   Post maturity, the NRE FD can be converted to a Resident Foreign Currency (RFC) Account. The interest earned on NRE Deposits that have been converted to RFC Accounts will be exempt from […]

There are 3 types of NRI FDs you can choose from and 2 of them are not taxable. Non-Resident External (NRE) FD: For income generated outside India, maintained in INR. There is no tax in India on the interest earned. Non-Resident Ordinary (NRO) FD: For income generated in India, maintained in INR. The interest earned […]

The tax on Mutual Funds will be deducted on the format for TDS for an NRI. There are no separate rates for TDS. For an NRI investing in Mutual Funds in India, the gains are pre-taxed (TDS) before they are received in the bank account of the NRI.   Is NRI eligible for refund on […]

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 […]

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 […]

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 […]

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 […]