Arur is the first MD Anderson faculty member to be appointed to this prestigious group since its creation in 2016.
Foreign assets of MF companies increased by $3.6 billion during the year on the rise in equity holdings, to $6.5 billion in March 2022.
NRIs who have invested in real estate back home often have limited information about the quality or for that matter regarding the approvals and financial status of the project
The tax implications in case of sale of residential property in India by a non-resident is same as that for a resident individual i.e. capital gain, if any, will attract tax in India.
Purchase or acquisition by way of gift of agricultural land, farmhouse, or plantation property is not allowed for NRIs and OCIs.
Smaller private banks offer the best interest rates for non-resident deposits
Studies have found that 23,000 Indian millionaires have left India since 2014 and that nearly 7,000 millionaires left in 2019 alone, costing the country billions in tax revenue. Since 2015, nearly 9 lakh Indians have given up their citizenship.
DBS Bank offers the best interest rates for non-resident deposits
Small finance banks offer the best interest rates for non-resident deposits
So far, Indian diplomatic missions abroad had a role in inter-country adoption of Indian children limited to children adopted by Non-Resident Indians (NRIs), Overseas Citizen of India (OCI) or foreign parents.
Handa said nearly 30 countries offer citizenship- and residence-by-investment programs. Of these, the Portugal, Thailand, Australia and Greece residence programs received the maximum applications from Indians living in India in 2020-21.
How our mourning of Aamir Khan’s divorce and Dilip Kumar’s passing is rooted in our anchoring bias, cultural identity, and social currency.
If you continue operating a normal savings/current account while living outside the country, you would be in violation of the FEMA laws of the RBI. You can close or convert them to NRO/NRE accounts.
Many non-resident Indians couldn’t return to their countries due to the lockdown. The tax department has clarified the rules for determining their residential status
NRIs returning back to India don’t just come back because they’ve lost their jobs. There could many other reason for the pull, such as ageing parents, a retired life back in India or a better career opportunity back home. Such NRIs must plan their finances
For NRIs stuck in India due to COVID-19, the tax problem persists. But mismatch in taxation period and retirement benefit funds will be addressed
From clearing home loan dues, to changing bank accounts and buying insurance locally, NRIs must take a systematic approach to their finances before packing their bags
Due to the cancellation of international flights and lockdowns, NRIs were stranded in India
The Central Board of Direct Taxes noted in a circular that the decision has been taken following various representations in the matter, as concerns were expressed that a prolonged stay in the country may make them a resident of India under section 6 of the Income Tax Act, 1961.
The court on its own impleaded the Union housing and finance ministries as party respondents. It has directed them to answer a series of questions including as to how many families have basic amenity of housing in India as well as in Tamil Nadu, population and housing ratio in the country and in the state, when 'Housing for All' mission of the central government would be achieved.
The government has said that "the new provision is not intended to include in tax net those Indian citizens who are bonafide workers in other countries"
Worldwide tax proposed on Indians not paying tax in any other country
Here are six steps that can reduce the impact of such geo-political events
A sum of money received without consideration, is deemed to accrue or arise in India
There are certain scenarios, when such an interest income becomes taxable.