Unique Identification Authority of India (UIDAI) has issued a unique 12-digit identification number, called Aadhar, which not only serves as proof of identity and address, but also enables Indian residents to avail of various government subsidies. NRIs, who have not…
Read more
11 Important things that every Property owner must keep in mind If you are a NRI and have a property in India, you might want to rent out your property to a tenant. Before you rent out your property, you…
Read more
Tax filing season has already begun and the due date to file your ITR for FY 2018-19 is set at July 31, 2019. As taxpayers are getting their financial documents ready to file their ITR, NRIs also wonder whether or…
Read more
Tax rules for NRIs (non-resident Indians) who are selling a property in India are different from the rules that are applicable to Indian sellers. In this edition of our NRI Knowledge Series, let us examine what would be tax liability…
Read more
Financial planning is slowly getting to be as commonplace as a commodity, though there are subtle underlying complexities. These could be factors like life expectancy, return expectations and rate of inflation, to name a few. For a non-resident Indian (NRI),…
Read more
Going by the Budget 2019 proposals, a salaried individual with gross total income up to Rs 7.75 lakh can invest in various tax saving avenues and avail of different deductions to reduce taxable income to Rs 5 lakh and consequently…
Read more
The interim finance minister abolished income tax on notional rent from the second self-occupied house, benefiting those with two houses but no outstanding loan on the second one. “Since most people don’t have housing loans running on their self-occupied second…
Read more
Non-resident Indian property investors and buyers stand to benefit significantly from an impending tax cut that has been proposed by a panel in a bid to give the much-needed fillip to the lackluster Indian real estate sector. The possible Good…
Read more
Rent free accommodation provided by the employer to an employee is chargeable to tax as a prerequisite under the head salary. Thus, you shall be required to pay tax on the same. The value of such perquisite is determined separately…
Read more
Usually, Indians residing abroad keep a non-resident external (NRE) or a non-resident ordinary (NRO) accounts in India. Funds in NRE account are mostly freely repatriable outside India. You are allowed to receive income from investments in India in your NRE account and remit…
Read more