Best use of credit card September 30, 2013 12:09
Credit cards have different connotations for different people. Some are allergic to them, some use them to avoid carrying cash and still others see great ease and convenience in their use. I, per se, belong…
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Risk free investment avenues in India for NRIs September 30, 2013 12:05
With rupee touching new lows every week, the non-resident Indians are showing keenness to repatriate money to India or invest in the country. But, by virtue of being a non-resident Indian, they are not allowed…
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Can NRIs invest in shares? September 30, 2013 12:01
Yes, a Non Resident Indian (NRI) is allowed to invest without any limit on non-repatriation basis in shares and convertible debentures of Indian Companies issued either by public issue or private placement or right issues…
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Who can open a foreign currency account? September 30, 2013 11:53
A person resident in India who has gone abroad for studies or who is on a visit to a foreign country may open, hold and maintain a Foreign Currency Account with a bank outside India…
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What is a Resident Foreign Currency Account? September 30, 2013 11:48
Returning NRIs /PIOs may open, hold and maintain with an authorised dealer in India a Resident Foreign Currency (RFC) Account to transfer balances held in NRE/FCNR (B) accounts. Proceeds of assets held outside India at…
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Indian tax laws give NRIs a raw deal September 30, 2013 11:34
There has been a continuous effort in the past decade or so to make the income tax laws simpler, consistent and taxpayer-friendly.The effort has resulted in faster processing of refunds and improving compliance. However, no…
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Karnataka Bank hikes NRE deposit rates September 30, 2013 11:43
Mangalore-based private sector lender Karnataka Bank on Tuesday said it has raised its NRI deposit interest rates by 50 basis points for three years to 10 years with maturity effective from September 2, 2013. "The revised…
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RFC Savings Account in ICICI Bank September 30, 2013 11:09
What is an RFC Savings Account? An RFC (Resident Foreign Currency) Savings Account is a savings account maintained in foreign currencies - USD and GBP - for NRIs who have returned to India and hold…
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NRIs still holding back in hope of further plunge in rupee September 30, 2013 11:34
Luring Non-Resident Indians (NRIs) with attractive investment opportunities may be a tested way of shoring up the domestic currency during the crisis, but this time it seems like the policymakers will have to wait a…
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Pros and Cons - External Account for Non Resident September 30, 2013 11:26
Persons of Indian nationality or origin residing outside of India may open, with authorised banks in India, Non-resident External Accounts (NRE Accounts), designated in rupees. These accounts can be in savings, current, or term deposit…
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When NRI needs to file income tax return in India? September 30, 2013 11:28
The obligation to file income tax return in India is dependent on the residential status of the person. So, if you fall in the NRI category as per the Income Tax rules in India and…
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Income Tax Payable by NRIs September 30, 2013 11:19
According to the Income Tax Act of 1961, an annual tax is levied on income by the Central Government of India. This is known as Income Tax. According to the rules applicable to the NRIs…
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