Can NRI Opt for New Tax Regime?

The Indian income tax system has seen some significant changes in recent times, and the introduction of the New Tax Regime is one such development. As much as this move is appreciated by Indian residents, NRIs are still confused and are unclear whether they are eligible for the new tax regime. In this blog, we will answer this question “Can NRI opt for new tax regime”? We will also explore the implications, benefits, and drawbacks of the new tax regime to help NRIs make informed decisions about their tax planning strategies.

Charu Dhasmana

July 21, 2023 · 2,869 views

ICICI Bank NRE FD Rates 2023: Tax-Free NRI FD

ICICI Bank NRE FD Rates: ICICI Bank is one of the top banks in India that offers a host of financial services to its Indian as well as Non-Resident Indian (NRI) customers. NRI Fixed Deposits like Non-Resident External (NRE), Non-Resident Ordinary (NRO) and Resident Foreign Currency (RFC) deposits are some of the most popular investment options offered by the bank for NRI investors.

Manoj Negi

July 21, 2023 · 27,992 views

FCNR Account: Top 6 Banks for FCNR Deposits

The full form of FCNR is Foreign Currency Non-Resident Account, also known as FCNR(B) account. Non-Resident Indians who wish to open a fixed deposit account in India to save money earned overseas in foreign currency can open an FCNR (B) account. Recently leading Indian banks have hiked FCNR FD rates significantly on US dollar category deposits after the Reserve Bank of India (RBI) eased the interest cap till Oct 31, 2022. Here you will learn about the FCNR account in detail.

Manoj Negi

July 21, 2023 · 14,237 views

Axis Bank Seafarer Account: Online Opening Process

Axis Bank seafarer account is specially crafted for mariners and seafarers. This account can be operated by not only the mariner but also his family members in absence of the mariner. Here is everything you need to know about an Axis Bank seafarer savings account, including benefits, eligibility criteria, opening process, etc.

Manoj Negi

July 20, 2023 · 7,007 views

ITR for NRI AY 2023-24: Step-by-Step ITR Filing Process

As an NRI (Non-Resident Indian), understanding and filing your Income Tax Return (ITR) is crucial to comply with Indian tax laws and avoid any potential legal issues. The ITR filing for the Assessment Year (AY) 2023-24 has started. NRIs who have taxable income in India need to file their ITR for FY 2022-23 by 31st July 2023. In this blog, we will walk you through the essential steps and considerations for filing ITR for NRI (AY 2023-24).

Charu Dhasmana

July 20, 2023 · 35,276 views

IndusInd Bank NRE FD Rates 2023: Tax-Free Investment

IndusInd Bank NRE fixed deposit is a good investment option for NRIs and PIOs to earn high returns from income earned through foreign sources. Moreover, the principal and interest earned are tax-free and fully repatriable. IndusInd Bank NRE FD rates range from 7.00% to 7.75% p.a. for a period ranging from 1 to 10 years.

Manoj Negi

July 20, 2023 · 6,245 views

Union Bank of India FCNR Rates : Tax-Free Investment for NRIs

Union Bank of India FCNR account is meant for NRIs who wish to deposit their foreign earnings in India. Presently Union Bank of India FCNR(B) deposits can be placed in 5 currencies including USD, GBP, EUR, AUD and CAD. The major advantage of this account is that NRI depositors need not worry about the exchange rate fluctuations. In this blog, we will discuss Union Bank of India FCNR rates along with the features and benefits of a FCNR account.

Charu Dhasmana

July 19, 2023 · 4,466 views

Inoperative PAN: Steps NRIs & OCIs can Follow to Activate PAN without Linking to Aadhaar

As per the CBDT guidelines, if taxpayers fail to link their PAN and Aadhaar before the deadline of 30th June 2023, their PAN will become inoperative starting from 1st July 2023. However, they can still link their PAN card with their Aadhaar card after paying a penalty fee. In this blog, we have shared the steps NRIs can follow to activate an inoperative PAN card.

Charu Dhasmana

July 19, 2023 · 27,926 views

NRE Joint Account: Eligibility, Mode of Operation

As NRIs navigate the challenges of living abroad, managing finances efficiently becomes crucial. One such financial tool that caters specifically to the needs of NRIs is the NRE (Non-Resident External) Joint Account. In this blog, we will explore what an NRE Joint Account is, its benefits, eligibility criteria, and how it can help NRIs manage their finances seamlessly.

Charu Dhasmana

July 18, 2023 · 6,882 views

How to Avoid Double Taxation in India?

Even though taxes are necessary for the economy, they often come across as a burden for people. Now imagine the case of NRIs who have to pay these taxes twice on the same income. Frustrating right? If you are wondering how to avoid double taxation, then you have come to the right place. In this blog, we will understand how double taxation works and how you can avoid it.

Charu Dhasmana

July 18, 2023 · 3,133 views

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