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, […]

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.

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 […]