In talk with The Hindu, Mudit Vijayvergiya explains how SBNRI is helping NRIs with banking and investment in India

India is the largest source country for international migrants globally. Every year a number of people move abroad from India for education, jobs, business, etc. and many of them become Non-Resident Indians, commonly called NRIs. Once someone attains NRI status, rules governing their earnings, savings, investments and tax liability change dramatically. Due to minimal resources, and lack of knowledge and transparency, NRIs face several challenges to conduct banking and investment transactions in India.

10 Best Bank Accounts for Seafarers/ Merchant Navy Professionals

Sailors constantly move from one place to another and hence find it difficult to carry out essential financial transactions. Due to geographical barriers, it is hard for a seafarer to withdraw money, pay bills, invest money, etc. In this case, a seafarer account is ideal for sailors who spend many months at sea moving from port to port. We have picked up 10 best bank accounts for seafarers or merchant navy professionals to manage their finances with ease and convenience.

How Can NRIs claim a refund on LTCG tax

Claim a refund on LTCG tax: There are various sources of income or NRI investment options in India. However, as per Indian tax laws, an NRI can receive payment only after the deduction of TDS, even if their income is less than Rs. 2.5 lakh per annum. TDS is deducted on long-term capital gains (LTCG) and short-term capital gains (STCG) earned by NRIs on mutual funds, shares, bonds, rental income, sale of property, stocks, NRO accounts, etc. Interest on NRE and FCNR accounts is tax-exempt.
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