Penalty for Not Declaring NRI Status

 Indian residents move abroad because of various reasons like employment, business, study, or other purposes. When these residents stay abroad for a particular period of time, their status changes to NRI. When your residential status changes to NRI, you must comply with rules and regulations defined by FEMA (Foreign Exchange Management Act) as failing which will result in financial and legal penalties. For example, NRIs can’t operate a regular savings account and need to open an NRI account. Moreover, tax rules are slightly different for NRIs. However, there is no penalty for not declaring NRI status.

Charu Dhasmana

· 30,268 views

SBI Mutual Funds for NRI – Online Investment

 Over 75 lakh customers have invested in Indian markets through various SBI Mutual Fund Schemes. Not only resident Indians, but NRIs and FIIs can also invest in mutual funds in India. SBI Mutual Fund continuously strives to meet the expectations of its NRI customers with new products and services. Here we will explain the different aspects of SBI NRI Mutual Fund to help NRIs understand the process better.

Manoj Negi

· 11,218 views

401(k) Rollover to IRA: 4 simple steps guide

 When you leave a job to start a new one, you can either cash out your 401(k) retirement plan or transfer it into your new 401(k) account, or roll it over into an individual retirement account (IRA). For most employees, it is a smart choice to roll over a 401(k) into an IRA. A 401(k) rollover allows you to transfer money from an old (401k) account to an Individual retirement account or another 401(k) plan. Key reasons for a 401(k) rollover to IRA are more investment choices, lower fees, and the potential to open a Roth account, etc.

SBNRI Team

· 12,109 views

ICICI NRI Investment Options in India

 ICICI Bank is an Indian multinational bank and financial services company. Through a variety of channels and subsidiaries, the bank offers a wide range of banking products and financial services to NRI customers, including ICICI NRI bank account opening, fixed deposits, investment banking services, life insurance, loans, and a lot more. Some of the ICICI NRI investment options include ICICI NRI fixed deposits, trading account, mutual funds, PIS, life insurance for NRIs, etc.

Manoj Negi

· 4,086 views

Sharekhan NRI Account : Process and Brokerage Fees

 Sharekhan, founded in the year 2000, is one of India’s leading stock brokers. It offers stock market trading and investments to all kinds of customers including retail, corporate and institutional investors. Moreover, it also provides NRI investment services online as well as through its branch offices in the UAE and Oman. If you are an NRI and looking to open an account, then Sharekhan NRI account is the one for you. Read through the article to know more about Sharekhan and what it offers.

Charu Dhasmana

· 4,770 views

DTAA Rates: Its Benefits for NRIs

 For NRIs, paying taxes on the same income in both the residence country and the country where he/she works can be pretty daunting. To minimize such double taxation issues, India has signed the Double Taxation Avoidance Agreement (DTAA) with 80+ countries. It allows NRIs to avoid paying double taxes on income earned in both their country of residence and India. Under this agreement, there is a fixed tax rate set between India and other countries, based on which the tax is deducted from the income earned in India. These rates are different for each country. Scroll through the article to know more about the DTAA rates.

Charu Dhasmana

· 12,416 views

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