A non-resident Indian can access earnings in India through a nonresident ordinary (NRO) account. Earnings in India could be in the form of rent, dividends, interest, pension, among other sources. An NRO account can be opened in the form of…
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According to the World Bank’s latest Migration and Development Brief, India has been recognised as the top recipient of remittances, with the country receiving a whopping $79 billion as remittances in 2018! However, a large chunk of this amount is…
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The government has approved NRIs (Non-resident Indian) to get their own Aadhaar number after coming to India. Finance Minister Nirmala Sitharaman proposed this in Union Budget 2019, to issue Aadhaar cards to NRIs having Indian passports after they arrive in…
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Over the years, Non-resident Indians (NRIs) have invested substantial sums into Indian real estate either purely from investment perspective or due to an emotional attachment to their country of origin. Either way, the Indian government sees this as an important…
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For Indian expats, the UAE is their home away from home. Each has an amazing story to tell — business opportunities brought some, while the allure of a quality lifestyle made others settle their roots here since the early 1970s…
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For a person of Indian origin (PIO), what is the tax treatment for income generated from selling multiple properties? Capital gains on a property situated in India are always taxable in India. Whether a person has to pay tax in…
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Central Board of Direct Taxes (CBDT) has released clarifications in the form of frequently asked questions (FAQs) addressing some such matters and those relevant to NRIs are summarised below: If you are a non-resident of India (NRI), you need to…
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India’s federal and state governments have been endeavouring to strengthen relations with the Indian diaspora numbering about 30 million, including some 13 million Non- Resident Indians (NRIs) and 17 million Persons of Indian Origin (PIOs). The principal objective of the…
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With the passing of the Finance Bill 2019 in Parliament, some changes have been made in the rule regarding the taxation of gifts given by resident individuals to non-resident Indians (NRIs). According to changes made at the time of passing…
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Higher surcharge for the super rich resident Indians are applicable for NRIs too A dampener for non-resident Indians is the move by the government to plug the loopholes in gifts tax. Currently gifts given by Indian residents to non-resident Indians…
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