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.

Full report here

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.

Read the full article on International Adviser

US plans to increase H1B visa application fee

The Donald Trump administration is proposing a hike in the H-1B visa application fee to increase funding for the expansion of an apprentice programme, which trains American youths in technology-related activities, Labour Secretary Alexander Acosta told US lawmakers.

Testifying before a Congressional committee on an annual budget of the Department of Labour for the fiscal year 2020 beginning October 1, 2019, Acosta, however, did not give details of the proposed increase in H-1B filing fee and as to which categories of applicants it would be enforced on.

Read more on CNBCTV18

How NRIs can open NPS account online

NRIs can open a National Pension System (NPS) account. It provides tax breaks of up to Rs 1.5 lakh under Sec 80C and Rs 50,000 under Sec 80CCD(IB).

The NRI can open an NPS account online if he has a PAN card and a bank account.

Read the whole process here 

IDBI Bank launches paperless account opening facility for NRIs

IDBI Bank has launched the ‘NRI-Insta-Online’ account-opening process for NRIs residing in Financial Action Task Force (FATF) member countries, it said in a release.
Read the full story here

How to register as an NRI voter

With the Lok Sabha Polls now underway and people lining up in queues to cast their franchise, Non-Resident Indians are also feeling the need to ink their fingers and select their preferred candidate.

If you are an NRI, here's how you can add yourself to the list of voters for the Polls and guarantee your part in the democratic process.

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