Indian Forex Trading: Is it legal or illegal for an NRI?

 The Forex Market has intrigued many NRIs all over the globe. It is the only market that functions 24 hours a day except for the weekends and provides one of the best possibilities of returns. The Foreign Exchange Market, as we know it, has an average daily turnover of more than USD 6.6 Trillion. Now, many NRIs want to know how they can participate in Indian Forex Trading and understand the fundamentals of what’s illegal and what’s legal. In this article, we will understand what aspects of forex trading in India can an NRI opt for and what they can not. Let’s Begin!

SBNRI Team

· 15,746 views

HDFC NRI Home Loan 2022-23: Latest Rates and Benefits

 HDFC Bank is one of the best lenders for affordable housing loans in India for Indians living abroad. HDFC NRI home loan is offered to every citizen of India including Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), or Overseas Citizens of India (OCIs). NRIs living in countries like the US, UK, Singapore, Middle East, etc. and the employees of Merchant Navy can borrow a home loan from HDFC Bank for the purchase and construction of a flat or bungalow, at an attractive interest rate starting from as low as 6.95% per annum.

SBNRI Team

· 20,193 views

NRI Tax: Top 10 Mistakes made by NRIs while Filing ITR in India

 Income Tax for NRI has always been a puzzling subject. We receive numerous queries every day where the doubts of NRIs concerning NRI Tax are evident. Understanding the fundamentals of Income Tax for NRI: When to file the Income Tax Returns (ITR), How to file it? What are the requirements? What are the common mistakes one should avoid? and much more is essential for a seamless ITR filing experience for an NRI. Addressing the fundamentals is necessary to eliminate complexities. In this article, we will take a look at the top 10 mistakes made by NRIs while filing their ITR in India.

SBNRI Team

· 22,558 views

Bank of India NRI FD Rates: Unlock Tax-Saving Benefits Today

 Bank of India NRI FD Rates: Bank of India is a state-owned commercial Indian Bank. The bank offers a wide range of financial and investment services to its customers in India and foreign countries. BOI NRI fixed deposits are one of the best investment avenues for Non-Resident Indians. These customers can open fixed deposit accounts with the bank to enjoy attractive Bank of India NRI FD Rates.

SBNRI Team

· 11,492 views

NRE Recurring Deposit: NRI Investment in India 2022

 NRI Deposits are one of the most sought after investment opportunities by NRIs with a no risk appetite. Deposits promise good returns with no risk. The deposits that NRIs can opt for in India can be subdivided into Fixed Deposits and Recurring Deposits. NRIs can hold only three types of bank accounts in India: NRE, NRO & FCNR. All of these accounts provide Fixed Deposit facility whereas you can opt for a Recurring Deposit in NRE and NRO Bank Accounts. In this article, we will explore the NRE Recurring Deposit in detail.

SBNRI Team

· 14,587 views

FATCA (Foreign Account Tax Compliance Act) for NRIs

 FATCA or Foreign Account Tax Compliance Act aims to bring transparency and curb tax evasion by monitoring the income of NRIs living in the USA from their non-US investments and assets. It is a tax law by the US Tax Department (IRS) as a part of the Hiring Incentive to Restore Employment (HIRE) Act (2010). The FATCA Act identifies and prevents a US citizen/tax resident from avoiding tax. The Act requires certain international financial institutions to report details of financial accounts held by US taxpayers to the Internal Revenue Service (IRS) along with instances of tax evasion. A financial institution is empowered to withhold tax if an individual does not comply with any document requirements.

SBNRI Team

· 25,979 views
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