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NRI as per Income Tax NRI as per Income tax isn’t defined directly which means that there is no definition for Non Resident Indians (NRIs) under the IT Act, but it lays down certain criteria to certify citizens as residents of India.       New Rules for NRI Taxation According to New Rules for […]

NRI Status 2023: NRI status can be attained by an Indian Citizen if he/she stays overseas for more than 182 days in a financial year. However, new rules for NRI taxation in India are introduced to determine the residential status of an individual during that financial year.      Calculating your NRI Status 2023 To […]

An NRI or Non Resident Indian is an Indian Citizen living outside India for a minimum of 183 days in 1 financial year for the purpose of employment, business or vocation (occupation for which an individual is trained).    Indian Citizens who have gone out or are staying abroad for some other purpose with an […]

  PIO or Person of Indian Origin; is a person with foreign citizenship who has an Indian origin. The factors that define the term “Indian Origin” are: A person who was born in India A person who at any time, held an Indian Passport or An individual who is either a citizen of India or […]

NRI as per FEMA Non-Resident Indian (NRI) as per FEMA or Foreign Exchange Management Act is a person who has gone out of India or stays outside the country for the purpose of employment, business, vocation (occupation for which an individual is trained) or any other circumstances indicating his/her intention to stay outside India for […]

To prove NRI status, one has to submit any of the following documents as proof of residence abroad: Employment Details Student Status Dependent Visa Status, or A copy of Resident Permit of the country where the individual is residing Note: The proof needs to be attested either by the Indian Embassy, Notary or an Indian […]

Yes, he will be an NRI for the year as he is staying more than 182 days outside India.   Definition of an NRI   For further assistance with NRI Banking, Investment, Remittance or Taxation, click on the button below to connect with our expert.  

OCI refers to Overseas Citizen of India which can be simply understood as the status given to people with a foreign citizenship who are granted with certain rights and freedoms that the citizens of India and NRIs enjoy except the following rights: voting rights, candidature in various houses of government, constitutional posts such as President, […]

Indian Passport Renewal in UK Indian Passport Renewal in UK: Here’s a step-by-step guide to renew your Indian Passport in the UK     Fill Online Registration Form for Indian Passport Renewal: Since 02 Jan 2018, handwritten application forms will no longer be accepted. All applications for renewal of Indian passport must be accompanied with […]

Yes, you will be an NRI for (2020-21) since you haven’t stayed in India for 365 days or more in the previous 4 years.   Regarding FCNR Deposits, you can continue them till maturity after returning to India. Post maturity, you can convert them into Resident Foreign Currency (RFC) Account. You don’t need to convert […]