NRI Taxation

This is a hot subject which requires your attention, please! Section 139AA of the Income Tax Act makes it mandatory for every individual who has a PAN to link it with the Aadhar number. Every rule has certain exceptions. As per the Notification issued by CBDT in 2017, the provisions …

As per the amendment in PMLA rules by the Government, all bank accounts should be linked with Aadhaar before 31st Mar 2018; failing which the accounts will become inoperative till the time the Aadhaar number is submitted and linked to the accounts. So, what about NRIs who are not having …

Why PPF find a place in the investment portfolio of every investor? Simple, the investment in PPF is eligible for deduction u/s 80C of the Income Tax Act (means, if you invest in PPF, you pay less tax), interest earned is exempt from tax (unlike, bank Fixed Deposit interest which …

Here is a live case! I just finished a call with Mr.Amar, an NRI staying in USA. I understood from him that he has a flat in Koramangala, which was bought in 2011 for Rs.80 Lakhs which he now intends to sell for 1.52 Crores. Our talk went as under …

Among the many apprehensions that NRIs’ have about investing in property in India, one is about the ways and means of repatriating funds back to their country abroad, after the sale of a property. Any NRI investor, while investing in property in India, should ideally chalk out the process from …

Mr. Abrahim an NRI living at UK is corresponding with me regarding the capital gain tax on sale of property in Bangalore. Here are his queries and my answers – Dear Mr. Abrahim, I am an NRI seller. I want to sell my house in Bangalore and reinvest it in …

  I come across many queries about acquisition of purchase by Non Resident Indians (NRI) or Person of Indian Origin (PIO) or Overseas Citizenship of India (OCI). Most recently, I have been asked a specific question – Can an NRI buy a coffee plantation? Maybe NRIs have sufficiently invested in …

  Purchase of property in India from Non-Resident Indians (NRI) is a bit tricky when compared to buying it from Resident Indians.   TDS at the time of buying the property – You may be aware about Tax Deduction at Source (TDS) to be done at the rate of 20.6% …

  A PIO means an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who – At any time, held an Indian Passport or either of whose father or mother or whose grandfather was a citizen of …

  A citizen of India resident out of India is called as Non Resident Indian (NRI). Reserve Bank of India (RBI) frames regulations to acquire or transfer immovable property in India by person residents outside India.   As per the latest circular issued by RBI (as on 2014) the following …