NRIs who wish to sell their property in India are often confused regarding the concepts of Tax Deducted at Source, the sections applicable, the percentage for the same, and any exemptions availabe. What is TDS? The concept of TDS was introduced with an aim to collect tax from the very source of income. As per…
Read MoreNon-resident Indians (NRIs) who have invested in the Public Provident Fund (PPF) may have got temporary relief for now. A few months ago in October, the Department of Economic Affairs (DEA) had said that if a resident, who opened an account under this scheme, and subsequently becomes a non-resident during the currency of the maturity…
Read MorePublic Provident Fund (PPF) is a popular investment option for long term savings. Returns from PPF and National Savings Certificate (NSC) will drstically slash to halve from the day you become an NRI. There have been certain changes in the PPF rule which state that if a PPF account holder turns NRI, the account will…
Read MoreIf your’e planning to migrate abroad for a few years because of a job or some other reason then you need to buckle up before you embark on your journey. Your status is going to change to a Non-Resident Indian and it is going to affect your bank, investment and tax payment rules. We are…
Read MoreTax Rates: Income Tax Slab For Assessment Year 2018-19 Individual (resident or non-resident), who is of the age of less than 60 years on the last day of the relevant previous year: Taxable income Tax Rate Taxable income Tax Rate Up to Rs. 2,50,000 Nil Rs. 2,50,000 to Rs. 5,00,000 5% Rs. 5,00,000 to Rs.…
Read MoreKey things to know about NRO account 1. Know the essentials: The simplest ways for a resident Indian who has become an NRI to manage, access and operate his money and investments made in India, is to convert his savings account with the respective Indian bank into NRO account. These accounts can receive foreign remittances,…
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