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

· 14,181 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

· 35,246 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

· 4,440 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

· 27,859 views

Consequences of Non-Linking of Aadhaar with PAN for NRIs

 Although PAN-Aadhaar linking is not mandatory for NRIs (Non-Resident Indians), they need to update their residential status as an NRI on the Income Tax portal. Since, many NRIs failed to link their PAN and Aadhaar by 30th June and also did not notify the IT department about their NRI status, their PAN has become inoperative. In this blog, we will discuss the consequences of non-linking of Aadhaar with PAN card for NRIs. We will also discuss about the required steps to make their PAN functional again.

Charu Dhasmana

· 2,007 views

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