Articles for Nri, search results for accounts

Mint Primer | The significance of RBI’s plan to take the rupee global
1 month, 2 weeks ago

Mint Primer | The significance of RBI’s plan to take the rupee global

Live Mint  

The Reserve Bank of India has allowed non-residents to open rupee accounts in the overseas branches of India-registered authorized dealer banks to conduct cross-border transactions. In a circular last week, RBI allowed overseas branches of authorized dealer banks to open rupee accounts for non-resident Indians for settling current and capital account transactions with Indian residents. RBI also allowed non-resident Indians …

Trade Indian Bank Open Rupee Indians Nri
Mint Primer | The significance of RBI’s plan to take the rupee global
1 month, 2 weeks ago

Mint Primer | The significance of RBI’s plan to take the rupee global

Live Mint  

The Reserve Bank of India has allowed non-residents to open rupee accounts in the overseas branches of India-registered authorized dealer banks to conduct cross-border transactions. In a circular last week, RBI allowed overseas branches of authorized dealer banks to open rupee accounts for non-resident Indians for settling current and capital account transactions with Indian residents. RBI also allowed non-resident Indians …

India Trade Indian Bank Open Rbi Indians
SBI launches TAB-based digital NRI account onboarding journey
2 months, 1 week ago

SBI launches TAB-based digital NRI account onboarding journey

Deccan Chronicle  

Mumbai: State Bank of India, the country’s largest bank, has announced the launch of a TAB-based end-to-end digital on-boarding process for Non-Resident Indians to streamline the opening of NRE and NRO accounts. This initiative was inaugurated by SBI Chairman, Shri Challa Sreenivasulu Setty and has been made available across SBI branches in India and select foreign offices, employing digital tools …

Digital Nri Sbi Tab
SBI launches online onboarding process for NRIs to open NRE, NRO accounts
2 months, 1 week ago

SBI launches online onboarding process for NRIs to open NRE, NRO accounts

Live Mint  

India's largest bank, the State Bank of India, has launched a new online onboarding process for non-resident Indians to open non-resident external and non-resident ordinary accounts. The new platform is an end-to-end digital onboarding process that has been made available across SBI branches in India and select foreign offices, SBI said in a statement on Wednesday, January 2. “The introduction …

India Bank Crore Nri Account Sbi
NRI investing in Indian stocks? Know about TDS on capital gains
4 months, 1 week ago

NRI investing in Indian stocks? Know about TDS on capital gains

Live Mint  

I have been a non-resident Indian for many years and have invested in Indian stocks using income earned abroad, deposited in my NRE account. While interest earned on NRE savings accounts is tax-exempt, this exemption applies only to interest income, not to capital gains from the sale of investments made using an NRE account. Even though the funds used to …

Indian Income Capital Gains Nri Account Accounts Gains
Maharashtra man steals police probe kit, deletes crime data; held
9 months, 2 weeks ago

Maharashtra man steals police probe kit, deletes crime data; held

Hindustan Times  

A 22-year-old man in Maharashtra's Navi Mumbai township was arrested Thursday for allegedly stealing a police kit used in crime investigations and deleting crime-related data from it, reported news agency PTI. Police on Thursday arrested a 22-year-old man in Maharashtra's Navi Mumbai township for allegedly stealing a police kit used in crime investigations and deleting data from it The man …

Mumbai Maharashtra Old Navi Mumbai Navi Nri Man Allegedly
Can I use a non-resident bank account for loan payments?
1 year, 5 months ago

Can I use a non-resident bank account for loan payments?

Live Mint  

When I convert my ICICI Bank savings account into NRO and NRE accounts, what will happen to my existing funds? —Name withheld on request NRIs who are selling land situated in India have to pay tax on the capital gains. In case the property has been inherited, remember to consider the date of purchase of the original owner for calculating …

India Tax Indian Land Capital Capital Gains Nri
SBI: NRIs can now open new bank accounts through YONO app in three quick steps
1 year, 5 months ago

SBI: NRIs can now open new bank accounts through YONO app in three quick steps

Live Mint  

The State Bank of India has introduced a digital facility for NRIs to effortlessly open NRE and NRO accounts through SBI's YONO. This service is designed for NTB or “new to bank” customers, providing them with ease and efficiency in the account opening process. "With the launch of this digital service, NRIs can open their NRE/NRO accounts from the comfort …

India Open Nri Sbi Yono Nro
Here’s a checklist for individuals moving overseas
1 year, 6 months ago

Here’s a checklist for individuals moving overseas

Live Mint  

Are you planning to move overseas soon? Following are some of the considerations an individual must look into before leaving the country to settle for an extended period of time: Online banking: Before migrating, it is better to update your bank accounts to internet banking, increase your bank mandate limits and ensure that your Indian phone is still active so …

India Insurance Financial Tax Indian Bank Status
ED attaches Mangalagiri NRI hospital properties of ₹307 Cr in money laundering case
1 year, 10 months ago

ED attaches Mangalagiri NRI hospital properties of ₹307 Cr in money laundering case

Deccan Chronicle  

Hyderabad: The Directorate of Enforcement on Thursday attached movable and immovable properties worth Rs 307.61 crore in a money laundering case against Nimmagadda Upendranath, Mani Akkineni and others, members of the NRI Academy of Medical Sciences. The ED initiated the investigation on the basis of FIRs registered by Mangalagiri police of AP for criminal conspiracy, cheating and forgery in respect …

Ed Rs Mangalagiri Nri Nrias
How are NRIs taxed on rental income?
2 years ago

How are NRIs taxed on rental income?

Live Mint  

My son is a non-resident Indian with a small rental income of ₹30,000. Neither he nor his tenant can afford a chartered accountant to submit the tax deducted at source on this income to the income tax department. —Name withheld on request As per income tax rules on TDS, the deductor is obligated to deduct TDS and deposit the same …

India Tax Income Nri Tds
Are deposits made in NRE accounts taxable?
2 years, 9 months ago

Are deposits made in NRE accounts taxable?

Live Mint  

I am a non-resident Indian living in the US and have a non-resident external account with an Indian bank. — Name withheld on request For NRIs, interest on deposits made in NRE account are not taxable in India. Once you declare your intent to stay in India and convert these accounts to resident accounts, the interest earned from NRE deposits …

India Nri Itr Ppf Account Nre Account Resident Accounts
LIC Policyholders: Want to Buy LIC IPO at Discounted Rate? Key Things to Know
2 years, 10 months ago

LIC Policyholders: Want to Buy LIC IPO at Discounted Rate? Key Things to Know

News 18  

LIC IPO: The much-awaited IPO of the state-run insurance behemoth, Life Insurance Corporation, is set to open on May 4 and close on May 9, sources said. According to the LIC DRHP filed with Sebi, up to 10 per cent will be reserved for eligible LIC policyholders under the policyholder reservation portion. Here are things that policyholders who are looking …

India Reservation Nri Pan Ipo Portion Eligible
Punjab National Bank Cuts Interest Rates on Savings Accounts, Details Here
3 years, 6 months ago

Punjab National Bank Cuts Interest Rates on Savings Accounts, Details Here

News 18  

Punjab National Bank had recently put into effect its revised interest rates on its Domestic and NRI Savings Accounts. Following the revision, the latest interest rate stood at 2.90 per cent per annum which is applicable to both the Domestic Savings Account as well as the NRI Savings Account. Similarly, for the Saving Fund Account Balance of Rs 100 crore …

General Savings Bank Interest Rates Interest Senior Citizens Cent
Can NRI claim deduction u/s 80TTA for interest on bank savings account in India?
4 years, 5 months ago

Can NRI claim deduction u/s 80TTA for interest on bank savings account in India?

Live Mint  

My daughter was resident till 15th August 2019. She has had several fixed deposits with few banks in India.As the interest on these is crossing taxable limit and since tax is deducted, she has to file returns in India. 2) If she is a Non resident for tax purposes does she qualify for deduction under Section 80TTA for interests on …

India Bank Interest Resident Tds Savings Account Tax Return
NRIs are not required to give foreign income, overseas bank details in India
4 years, 5 months ago

NRIs are not required to give foreign income, overseas bank details in India

Live Mint  

I was a non-resident Indian and had bought a policy from an Indian insurer before the Double Taxation Avoidance Agreement was enforced in 2015. Therefore, it would be advisable to share the relevant details with your insurer to make sure TDS is deducted keeping in mind the double tax avoidance between the two countries. Do NRIs have to disclose their …

India Tax Indian Bank Loan Income Foreign
How NRE, NRO demat accounts are taxed
4 years, 7 months ago

How NRE, NRO demat accounts are taxed

Live Mint  

I work in the merchant navy and my residential status is non-resident Indian, but I stay in India. —Name withheld on request Under the exchange control law, when a person leaves India for employment, business or any other purpose, indicating the intention to stay abroad for an uncertain period, he or she may be considered as a “person resident outside …

Law India Resident Nri Account Demat Account Nre
NRIs are not allowed to make fresh deposits in PPF account
5 years, 11 months ago

NRIs are not allowed to make fresh deposits in PPF account

Live Mint  

Can an NRI purchase foreign currency in India through cheque payment from his NRO account? —Dilip Saksena Yes, you can use your NRO account balances to make cheque payments in India. In case you want to receive your NRO balances in a foreign country, RBI allows NRIs to remit balances in NRO account up to $1 million in a financial …

India Canada Nri Ppf Nro Ppf Account Resident Account
NRI taxation: Residential status rules are different for exchange control, income tax laws
6 years, 6 months ago

NRI taxation: Residential status rules are different for exchange control, income tax laws

Live Mint  

I am an NRI since April 2014 as per income tax rules, as I stay in India for less than 182 days during each financial year. — Name withheld on request Under the India income tax law, interest income from NRE accounts earned by an individual is exempt from tax in India provided the individual qualifies as a “person resident …

Law India Tax Income Interest Interest Income Resident
The case against NRIs making real estate investments in India
6 years, 8 months ago

The case against NRIs making real estate investments in India

Live Mint  

Many of my Indian friends have invested in house property in India. —Karan Arora Housing or real estate was a popular mode of investment for non-resident Indians till five years ago. High capital appreciation seen in the last decade along with monthly rental income had been an attraction towards investment in housing. However, the real estate market has given poor …

India Real Estate Property Investment Nri
A personal finance checklist for those becoming NRIs
6 years, 8 months ago

A personal finance checklist for those becoming NRIs

Live Mint  

It is important to remember that your status as an non-resident Indians is different under the Foreign Exchange Management Act and the Income Tax Act. These are the things you should do before you leave: Bank accounts: Get your existing resident bank accounts redesignated to non-resident ordinary bank accounts. While you probably have multiple resident bank accounts, rather than converting …

India Real Estate Tax Need Bank Accounts Policies Nri
NRIs must convert resident FDs to NRE accounts when going abroad
6 years, 10 months ago

NRIs must convert resident FDs to NRE accounts when going abroad

Live Mint  

I am an NRI. If they are going to another country for long term, they must convert their resident accounts to non-resident external or non-resident ordinary account. Upon your return to India for good, you must convert your NRE or NRO accounts to resident accounts. —Abdul Indian income tax laws specify that salary, which is paid for services rendered in …

India Tax Income Resident Nri Return Tds
Now, foreign bank accounts of NRIs under Income Tax lens
7 years, 7 months ago

Now, foreign bank accounts of NRIs under Income Tax lens

Op India  

The Income Tax authorities have added a new clause in the income tax return form which asks all Non-Resident Indians to disclose the details of their bank accounts outside India. Till now only resident Indians were required to disclose overseas bank accounts in their income tax returns. Earlier, an NRI was allowed to claim funds lying in foreign bank accounts …

India Tax Income Tax Income Indians Nri Accounts
Remittances up 29 percent in Malappuram
7 years, 8 months ago

Remittances up 29 percent in Malappuram

Deccan Chronicle  

MALAPPURAM: The remittance from expatriates from the district has witnessed the growth of a whopping 29.20 percent during the last fiscal year despite massive spending cuts in the Gulf countries and the demonetization drive in India. The NRI deposits received by the banks in 2016 has grown to Rs 9,261 crore by March 2017 as the district continues to register …

Crore District Nri