Goa govt plans scheme to attract investment from Goan NRIs

The Goa government wants to attract investment from Non-resident Indians (NRI) of Goan origin, especially the seafarers, in sectors such as housing, Deputy Chief Minister Vijai Sardesai said Tuesday.

He was addressing a program organised by the Goan Seamen Association in Margao to mark `The International Day of the Seafarer', celebrated on June 25.

The question was "whether we should rely on Delhi-based investors for investment" or encourage "our own Goans who are Seafarers to invest in the state", he said.
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Global income is taxable in India if you qualify as a resident of the country

If an individual qualifies as 'resident and ordinarily resident' in India, their global income would be taxable in India...
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Govt scholarships for NRI students for 2019-20 academic year

The Ministry of External Affairs in India's Scholarship Programme for Diaspora Children (SPDC) for non-resident Indian (NRI) and PIO card holder students is open for the 2019-20 academic year.

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The NRI's guide to bank accounts in India - 2019

Whether you are a non-resident Indian (NRI) who is moving back to India or looking to invest in India, or you are a resident who has recently been granted NRI status, the first thing you need to do is have the right bank account to manage your money.

Unlike regular citizens of India, NRIs cannot have standard savings accounts in Indian banks. The determination of NRI status is not as per the popularly known Income-Tax Act, but FEMA (Foreign Exchange Management Act). FEMA uses intent as the basis to determine residential status. So, once you have moved residence (and child’s school) across the shores, this clearly denotes intention, and hence your residential status changes.

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NRI students can avail scholarships in India for 2019-20 academic year

The Ministry of External Affairs in India's Scholarship Programme for Diaspora Children (SPDC) for non-resident Indian (NRI) and PIO card holder students is open for the 2019-20 academic year.

The SPDC scheme provides financial assistance for specific undergraduate courses in professional and non-professional courses, except medical sciences and related courses.

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The great NRI dilemma — rupee or dollar?

Non-resident Indians have a plethora of investment options and have to choose the one that suits them best.

Every NRI has surely been troubled by this question: should I invest in India or should I not? A complex cocktail of emotions ranging from love for their motherland and a sense of guilt for not giving back to it combine with personal choices to often lead to a wrong answer to the question above.

This article in The Hindu explains the various possibilities

NRI landlords under scanner for tax liability

NRIs with rental income in India, beware. Indian taxmen will chase you on the lead given by your own tenant, if you don’t come clean on filing your tax returns when you earn more than the stipulated threshold income in India.

“Property is one of the most preferred asset classes for NRIs for the rental income, though many NRIs believe they need not pay any tax on the rents they receive. They have to, but with some riders,” said Benoy Sasi, international lawyer at the DIFC, who practises tax law in India.

A recent notification from the Indian tax authority stipulated that NRI landlords are required to pay 31.2% of the rent as tax, unless they furnish certificates stating that their total income in India is below the tax exemption limit.

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