NRI Selling Inherited Property in India: Tax Implications 2023

 Becoming an NRI means staying away from one’s home country. Staying away doesn’t let you stay in the house where you spent your entire childhood. When you inherit these properties, you have multiple options. You can keep it as your retirement plan, rent it out, gift it to your relatives or sell it for good if you want to stay abroad after retirement. In this article, we will understand the elements of inherited property in India and the tax implications for an NRI selling inherited property in India and other related aspects.

SBNRI Team

· 212,257 views

SBI NRE Account Opening: Online Application

 State Bank of India is the largest public sector Indian bank that is known to every resident Indian and NRI (Non-Resident Indian). The bank provides a wide range of products and services, including NRI banking, through its wide network of branches in India and overseas. An NRE savings account is a type of rupee-denominated SBI NRI account that allows Indians living abroad to deposit, manage and remit their foreign income. NRIs and PIOs can open SBI NRE accounts for their transactional needs in India. They can apply for SBI NRE account opening online from the country of their residence or visit a branch of the bank in India or abroad.

Manoj Negi

· 69,768 views

Federal Bank NRO Savings Account Opening

 An NRO account is one of the Federal Bank NRI savings accounts opened by Non-Resident Indians and Overseas Citizens of India. NRIs can open a Federal Bank NRO savings account to save their earnings in India, such rents, dividends, or any other income arising or accruing in India. Moreover, an NRO savings account is the best bank account for NRI investment in India. Federal bank NRO account comes with many attractive features like internet banking, e-statements, online bill payment options, etc.

Manoj Negi

· 10,368 views

DTAA Exemption Methods for Tax Relief for NRIs

 DTAA Exemption Methods: Double taxation refers to the act of levying of tax by two or more jurisdictions on the same income or financial transaction. When someone transfers his income from one country to another, he is liable for tax in the country of his residence as well as where the fund is being transferred. For example, Rohit is a US-based NRI and has invested in mutual funds in India. Profit made on the investment by Rohit may be taxed in both India and the USA. However, NRIs can avoid paying tax in both countries because of the DTAA or Double Taxation Avoidance Agreement (DTAA). Here how NRIs can claim benefits under DTAA.

Manoj Negi

· 8,132 views

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