Federal Bank partners with Oman UAE Exchange for FLASHremit

Federal Bank has partnered with Oman UAE Exchange for FLASHremit, a real-time account credit facility. The partnership enables the non-resident Indian (NRI) customers residing in Oman to transfer money directly to their beneficiary having account with Federal Bank in India.

If you aren NRI from Oman and wants to know more then click here

Taxation and NRE's A few questions answered

Not a comprehensive article on taxation, some basic facts answered in this Mint question and answer section
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Rail Budget 2016: Soon NRIs can buy railway tickets using debit, credit cards

Lost in the din of the railways' decision to not hike passenger fares and announcement of additional passenger amenities was a significant decision by the government to allow foreign tourists and non-resident Indians (NRIs) to buy e-tickets using debit or credit cards.

The facility will be implemented in three months, according to the Railway Budget 2016-2017 presented by Railway Minister Suresh Prabhu on Feb. 25.

Story here

Indian businessmen in Gulf welcome budget

Indian businessmen in the Gulf today largely welcomed the Budget, saying the thrust on rural and agriculturesectors will boost several industries but rued that there was "nothing great" in it for NRIs.
Yusuffali MA, Chairman of Middle East's largest retail chain Lulu Group, called it a prudent budget.
"(It) has clearly highlighted the growth pillars of the Indian economy in agriculture, rural, social sector, skills, ease of doing business and tax and compliance reforms," he said.

Read the full Business Standard report here
 

NRIs without PAN not to be subjected to higher rate of TDS

Finance Minister Arun Jaitley in his Budget 2016 speech said that Non-resident Indians (NRIs) without PAN will not be subjected to higher rate of TDS. "Non-residents without PAN are currently subjected to a higher rate of TDS. Budget 2016 proposes to amend section 206AA of the Income-tax Act so as to provide that TDS shall not be deducted at a higher rate in case of non-residents not having PAN, subject to prescribed condition," said FM Arun Jaitley.

"It is proposed to amend the relevant provision to provide that on furnishing of alternative documents, the higher rate will not apply," the Budget says. 

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