RFC Account: Taxation, Interest Rates and more

 RFC or Resident Foreign Currency Account is a type of bank account maintained by Resident Indians in foreign currency. It is specifically essential for NRIs who have returned to settle in India. As we have discussed under NRIs and their Bank Accounts that any income generated abroad for an NRI must be maintained in an Non-Resident External (NRE) Account. Once, the NRI has returned to India, these NRE Accounts need to be converted into RFC Accounts post maturity. The FCNR Deposits can also be converted into RFC Accounts post maturity. In this article, we will discuss this RFC Account and understand the associated aspects.

SBNRI Team

· 35,558 views

NRI PPF Account: Can NRI invest in PPF?

 The most recurring doubt amongst NRIs has to be this: Can NRI invest in PPF? NRI PPF Account has turned out to raise questions on every platform. In this article, we will answer these questions regarding PPF account for NRI once and for all. PPF (Public Provident Fund) scheme was launched in 1968 by the Finance Ministry’s National Savings Institute. The main objective of the PPF scheme is to help individuals make small savings and provide returns on the savings. The PPF scheme offers an attractive rate of interest (up to 8%*) and no tax is required to be paid on the returns that are generated from the interest rates. PPF account for NRI is thus a risk free mode of investment.

SBNRI Team

· 87,738 views

DTAA: Double Taxation Avoidance Agreement Guide for NRI

 How frustrating can it be to give away most of your hard earned money as tax? Especially for NRIs who can be subject to double taxation. You might be working abroad and have to pay taxes both in India and abroad. That’s infuriating, right? Well, not if you keep a track of DTAA which is the Double Taxation Avoidance Agreement enabling you to avoid double taxation in India and abroad. In this article, we will try to cut down your taxes to the minimum. How? Let’s explore.

SBNRI Team

· 25,303 views

Creating the Perfect Power of Attorney for an NRI

 Power of Attorney (POA) for an NRI is a major tool for buying and selling property in India. The Real Estate sector in India is often sought after by the Non-Resident Indians (NRIs) to establish a valuable asset that will provide good returns in the future. In the entire process, most NRIs find it convenient to appoint someone as a power of attorney holder and he/she becomes the decision maker for them. However, with power comes responsibility and giving someone a power of attorney is a very delicate task. You need to keep in mind certain risks involved and take a lot of precautions to not let your decision backfire. In this article, we will discuss the types of Power of Attorney for an NRI, their benefits and how to minimize the risk factor while opting for the same.

SBNRI Team

· 33,820 views

NRI Aadhar Card: The Ultimate Guide 2022

 It is mandatory for every Indian citizen to enrol for the Aadhar Card Scheme in India. So it goes without saying that NRIs, who are in essence, Indian Citizens, also need to get one for themselves. Aadhaar is a 12-digit unique identification number issued by the UIDAI on behalf of the Government of India to create a common database of Indian Residents along with their biometrics and other important information. In this article, we will understand why an Aadhar Card is mandatory for Indian Citizens, what is its purpose and how can one enrol for them.

SBNRI Team

· 30,291 views

NRI Returning to India: 3 Major Financial Changes

 Amidst the ongoing global disturbance by the hands of COVID-19, many NRIs are returning to India, mostly for good. With the government launching mass evacuation strategies like the Vande Bharat Mission it is essential that the NRIs returning to India are aware about the conditions in the country specifically focusing on the Financial Changes. In this article, we will understand the Financial domain and discuss the 3 major financial changes that the NRIs will encounter post their return.

SBNRI Team

· 14,608 views

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