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Q: What are the documents required for an NRI to buy a property?

A: The following are the documents required for an NRI to buy property in India * Pan card (permanent account number) * Oci/PIO card * Passport * Passport size photographs * Address proof

Q: What is the tax treatment for income generated from property selling or renting for NRI?

A: The mere acquisition of property does not attract income tax. However, any income acquiring from the ownership of it, in the form of rent/ annual value of the house (if it is not let out and it is...

Q: How does the double taxation avoidance agreement work in the context of tax on income and capital gains tax paid in India by NRI?

A: India has DTAA's with several countries which give a favorable tax treatment in respect of certain heads of income, However, in case of sale of immovable property, the DTAA with most countries...

Q: Are NRIs eligible for housing loans to buy property from any bank in India?

A: An authorized dealer or a housing finance institution in India approved by the national housing bank may provide housing loan to an NRI or a PIO, for the acquisition of residential accommodation...

Q: When should an NRI file tax returns?

A: If you are an NRI/PIO/OCI, you would have to file your income tax returns if you fulfill either of these conditions. * Your taxable income in India during the year was above the basic exemption...

Q: Is power of attorney and power of administrator same How i can revoke the power of administrator ,i can do it from USA ? and whom to address for the same

A: Please follow the reference link to know the complete procedure of revocation of power of attorney. https://www.videshi.com/nri-information/how-to-cancel-power-of-attorney-in-india

Q: Does NRI need Aadhar card for bank account in India?

A: NRI need not link their aadhar card with the bank account. If you are an NRI and want to apply for aadhaar card then you must stay in India for a minimum period of 182 days in a current financial...

Q: Who needs to submit Form 10F and Tax Residency Certificate (TRC)?

A: Form 10F and TRC is required to avail the benefit of no TDS. This benefit is only available if the DTAA treaty with the country of your residence specifies that the income is taxable in other...

Q: What is the Tax Residency Certificate (TRC)?

A: Tax residency certificate (TRC) is a document issued by an authorized Governmental body of a country certifying that the person is a tax resident of the issuing country. TRC issuing authorities are...

Q: Is TDS applicable on insurance payouts to NRIs?

A: Yes, the tax will be deducted at source (TDS) under Section 195 of the Income Tax Act, 1961 on any sum paid under a life insurance policy to Non-Resident Indians only if the policy is not exempt...