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Latest Questions

Q: What is the maximum amount of gold that I can bring above the duty-free allowance?

A: The maximum amount of gold that you can bring against duty-free allowance is up to 1kg. jewelry can be crude gold or gold biscuits.

Q: What are the customs duty for a passenger to bring gold if he didn't complete six months of stay abroad?

A: The customs duty-free for a passenger if he didn't complete six months of stay abroad is up to 36.05% may be charged.

Q: What is the maximum amount of gold allowed upon payment of duty?

A: A passenger can bring up to 1kg of gold upon payment of customs duty. More than 1kg per passenger is not allowed.

Q: Do NRIs require prior approval of RBI for maintaining bank accounts in India?

A: NO, an NRI doesn't need any prior approval from RBI for maintaining bank accounts in India.

Q: Can PIO and OCI setup business in India?

A: Yes, PIO and OCIs can set up business in India. They are allowed to set up a limited liability company (LLC) and limited liability partnership (LLP) form of company. For more information you can...

Q: Can a resident individual gift shares to NRI close relative?

A: A resident is allowed to gift shares to NRI close relative up to USD 50,000 per financial year.

Q: Can a lawyer who is an OCI holder practice in India?

A: Such lawerys being foreign nationals are not permitted to practice in India.

Q: Are there any restrictions for a chartered accountant is an OCI holder to practice in India?

A: A Chartered Accountant who is an OCI cardholder can practice in India under the ‘Scheme for enrollment of Overseas Citizen of India Professional Accountants’ in terms of the Regulations published...

Q: Are NRE fixed deposits taxable?

A: NRE fixed deposits do not attract taxes on the principal or interests earned from the deposits.

Q: How can I transfer money from India to NRE account?

A: There are no restrictions on transferring money from the NRE account back to your foreign account. It allows you to transfer funds from your existing NRE savings account to open NRO/FCNR accounts....