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Q: Can an NRI inherit agricultural land in India?
A: Any person resident outside India, who can be:
•A NRI (Non-resident Indian citizen)
•A PIO (Foreign citizen of Indian origin)
•A foreign national
Can inherit and hold immovable property...
Q: Tax filing requirement of OCI in India and USA
A: As an OCI holder living in India, you should file your income tax returns if you meet one of the following criteria:
Your taxable income in India exceeds the minimum slab of exception, which is...
Q: FRRO registration in India for Canadian passport holder
A: There is no compulsory requirement to get your OCI visa transferred to your new passport until you reach the age of 50. You should be fine as long as you travel with both passports.
Q: Public provident fund account for NRIs
A: If a person opened a Public Provident Fund Account (PPF) in India and then became an NRI, there would be no problem in doing so. Of course I am assuming that when this person was in India, he/she...
Q: What are the tax rates on sale price if an OCI is selling inherited farm land in India?
A: Depending on the location of the land you inherited, you many not have to pay no tax if you sell your inherited farm land in India. When someone sells their farm land in India, if there is a profit...
Q: Can foreign citizen get agricultural land as gift from father?
A: NRIs cannot acquire agricultural land/plantation property/farm house in India by way of gift. The only way to for NRIs, PIOs to acquire agricultural land in India is by way of inheritance....
Q: How to convert foreign currency to Indian rupees on arrival in India?
A: Foreign currency declaration on arrival at Indian airports is required only in one of the two conditions mentioned below:
1.If the incoming passenger has in his/her possession foreign currency...
Q: What is the capital gain tax in India on sale of property?
A: If the property is ancestral property and held for more than three years in such case in such a case the capital gain on sale of this property would be considered to be a long term capital gain....
Q: Can gold jewelry be taken to India on transfer of residence?
A: While transfer of residence gives a certain amount of relief to those who return to India for settlement, on used household goods etc. Unfortunately, jewelry is not on the list of items where...
Q: Taxes on Canadian pension income when living in India?
A: Kindly note that the Canada pension payments are taxable in Canada and tax is withheld from the monthly payments made. The tax amount deducted is based on the country where the person resides. For...
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