Affordable, mid-market categories emerge favorites of NRIs

The regulatory reforms like RERA and GST taken in the last couple of years have restored the confidence in the Indian real estate market, particularly among the NRIs who are investing with renewed interest. There has been a sizeable jump in the number of NRI deals in the Indian property market in the recent past.

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How a returning NRI can open resident foreign currency account

An NRI would have assets and bank accounts abroad. Income generated from these assets would be in a foreign currency. A returning NRI has the option of bringing the funds to India by opening a Resident Foreign Currency (RFC) account with a bank here.

The funds in a RFC account are held in foreign currency and can be transferred to NRE/FCNR accounts if the person returns abroad. 

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NRI taxpayers allowed manual filing for nil TDS certificate

The income tax department on Monday allowed manual filing of form by resident and NRI taxpayers wanting to apply for deduction of taxes at a lower or nil rate on total income.

The Income Tax Act, 1961, provides that if a taxpayer considers that her total income warrants deduction of income tax at lower/ nil rate, she may apply to the assessing officer (AO) requesting for lower withholding certificate.

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No tax implication for NRIs buying a car in India

Car can be purchased in India by making withdrawals from non-resident external (NRE) account

LiveMint answers some of your financial queries

Financial checklist for a returning NRI

While living far away in a strange country and in a different environment, home evokes nostalgia and warmth. However, the reality after one returns might be different.

Non-resident Indians (NRI) want to return to India after working for years in the Middle East. How will the move affect their finances? What should they look out for?
Here is a checklist by Economic Times

Government cancels passports of 33 NRIs for abandoning wives

The government has cancelled passports of 33 non-resident Indians or NRIs for abandoning their wives, the women and child development ministry said Wednesday.

The Integrated Nodal Agency (INA) made to look into the matter has been issuing Look-Out Circulars to absconding husbands in cases of NRI marriages and till now, 8 LoCs have been issued and 33 passports have been impounded by the external affairs ministry, a senior official said. The agency is chaired by secretary in the women and child development ministry, Rakesh Srivastava.

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Remitting money from NRO account to foreign bank account

You are allowed to remit up to $1 million per FY outside India from NRO account. Remittance exceeding $1 million will require special permission from the Reserve Bank of India.

Here is a question answer session about the same