Q: What are the details required for submitting FATCA/CRS?
A: Following additional details will be mandatorily required at the time of account opening and at the time of renewals for pre-existing accounts as defined under FATCA/CRS, if not provided earlier....
Q: What are the tax deductions allowed to NRI's?
A: The following are the tax deductions allowed to NRI's:
* Life insurance premium payment
* Tuition fee payment
* Principal repayments on loan for the purchase of house property
* ULIPS or...
Q: What are the tax deductions not allowed to NRI's?
A: The following are the tax deductions not allowed to NRI's:
* Investment in PPF
* Investments made in NSCs
* Post Office 5 Year Deposit Scheme
* Senior Citizen Savings Scheme
* Section 80CCG,...
Q: What are the tax exemptions income for an NRI?
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 happens if I receive an I-20 to a different school?
A: If you received an I-20 after scheduling your appointment, then you can inform the U.S. consular officer of the new I-20 at the time of the interview.
Q: Can a person on the dependent visa work in the US?
A: Whether someone on a dependent visa can work in the U.S. depends on the visa category. For instance, H4 dependents cannot work while many L2 dependents can.
Q: Who pays the fraud prevention and detection fee and when do they pay?
A: An applicant for an L-1 visa traveling on a blanket petition must pay the Fraud Prevention and Detection fee. On individual L, H-1B, and H-2B petitions, the U.S. petitioner pays the Fraud...
Q: Can US-based relative sponsor work visa?
A: No, only the employer can sponsor a work visa.