Income Tax Rules for Indian Seafarers/ Merchant Navy

 A seafarer, merchant navy worker or mariner is a person who travels on a boat or ship on the sea. Seafarers hold a variety of ranks and professions, each of the crew members executes unique responsibilities. A seafarer navigates water bone vessels or assists as a crew member in the operation or maintenance of a ship. Seafarers receive remuneration in the form of salary from a ship owner or company. Income tax rules for Indian seafarers will depend on their residential status. However, there is no specific provision of income tax exemption for Indian seafarers.

Manoj Negi

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NRI Account Minimum Balance: Updated for 2024

 NRI Account Minimum Balance is an aspect that has made many Non Resident Indians (NRIs) search the internet very often. It can be a struggle to individually visit every bank website and dig in for that one answer you are looking for. Top Banks in India such as ICICI, SBI, HDFC etc have different minimum balance requirements. In this article we will provide you with the answers you have been looking for all at one place.

Manoj Negi

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Types of Mutual Funds for NRIs/OCIs in India

 Investing in securities such as stocks, bonds, money market instruments, and other assets is done through a mutual fund. It is a professionally managed investment scheme that pools funds from numerous investors. Professional money managers manage mutual funds, allocating the assets in an effort to maximize investors' returns through capital gains or income. The investing objectives outlined in the prospectus of a mutual fund are reflected in the portfolio's structure and upkeep.

Vivek Yadav

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