How can I revoke General Power of Attorney issued to my brother in India
Question: How can I revoke General Power of Attorney issued to my brother in India. I am staying in Dubai. ?
Raju Kanumuri: There are five simple steps to revoke your Power of Attorney. These are:
*Draft a Power of Attorney Revocation deed. You could consult a trained lawyer for this.
*If the Power of Attorney issued by you had been notarized, you will need to get the Revocation deed notarized as well.
*Send a copy to the designated person. Ideally, you should do this by registered post so that you have proof that he/she has received it.
*Send a copy of the revocation deed to all the institutions and banks where the designated person has conducted transactions for you. For further more queries you can follow the link https://www.videshi.com/nri-information/how-to-cancel-power-of-attorney-in-india
*Also, send a copy to the deed registry office where you had initially issued the Power of Attorney. In all of this, also make sure that you have a copy of the document as well.
Q: What are the tax exemptions incomes for NRIs?
A: * Interest on NRE & FCNR(Foreign Currency Non- Repatriable) account
* Interest on government-issued savings certificates, notified bonds
* Dividends from shares of domestic companies
* Long term...
Q: Why ITR should be filed by NRI?
A: * If the Tax deducted at source is more than the actual tax liability of the NRI, then refund can be claimed by the NRI only after filling return along with interest.
* If the NRI has incurred any...
Q: What is tax consideration of NRE/NRO account?
A: Considering the interest income in NRE/ NRO Account, NRI can file their return in India. The income of NRE Account shall be exempt whereas, Income in NRO Account shall be taxable.
Q: What are the tax deductions that are not allowed to NRIs?
A: * Investment in PPF
* Investments made in NSCs
* Post Office 5 Year Deposit Scheme
* Senior Citizen Savings Scheme
Q: Can OCI holders open PPF account in India?
A: OCI holders who are living in India are considered to be residents in India. Their status is no longer that of a Non-Resident (NRI). Therefore they can open PPF account in India.
While we are on...
Q: What are the step by step instructions to replace lost OCI card?
A: Before a lost OCI card can be replaced,
Applicants should file a police report. To apply for a replacement OCI Card, applicants will have to provide a copy of the complaint filed with the police....
Q: Can i repatriate funds in the NRI account?
A: The principal as well as the interest of the funds in an NRI account can be repatriated only if a person holds either an NRE account or an FCNR account. In case of an NRO account, only interest...
Q: Are there any prohibitions on the purpose for which loans cannot be taken?
A: The loans cannot be utilized for the purpose of re-lending or for carrying on agriculture or plantation activities or for investment in real estate business.