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Income Tax department may ask NRIs to explain 'bloated' income

Economic Times

India urged to extend renewal date of OCI card till Dec 31

Economic Times

Seattle based Indian community counters local politicians on anti-CAA resolutions

Economic Times

Indian-American woman to run for US Congress from Virginia

Economic Times

New report quantifies Indian diaspora's contribution to UK economy

Economic Times

Housing for all: HC proposes ban on NRIs from buying houses in India

Economic Times

NRI Guide

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Best Health Insurance Plans For International Students In USA
Best Health Insurance Plans For International Students In USA

International Health Insurance is designed specifically to come up with inclusive of all healthcare cover benefits...

New Immigration Rules Saudi Arabia
New Immigration Rules Saudi Arabia

New immigration policies are some of the major steps towards new resources. Saudi Arabia has decided that tourism...

US Customs Questions At The Airport
US Customs Questions At The Airport

US has strict strict customs and immigration checking counter. Such officials would make sure that the visitors are...

FEMA Guidelines For Outward Remittance
FEMA Guidelines For Outward Remittance

Every country has its own guidelines on the money going in and going out. This includes India which is a country...

What Happens When You Declare Money At Customs?
What Happens When You Declare Money At Customs?

International traveler need to mandatory undergo customs check while traveling through international passages and...

How To Exchange Indian Rupee To US Dollar In USA
How To Exchange Indian Rupee To US Dollar In USA

With the growing population of visitors (for various reasons such as education, career, and medical, among others) to...

Articles

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Ask, Answer & Discover

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Q: Can residential/commercial property be mortgaged by NRI?

A: The sale proceeds of immovable property acquired by way of gift should be credited to NRO account only. From the balance in the NRO account, NRI/PIO may remit up to USD one million, per financial...

Q: How can an NRI make payment for the purchase of residential property in India?

A: Payment can be made by NRI / PIO out of : Funds remitted to India through normal banking channels or Funds held in NRE / FCNR (B) / NRO account maintained in India No payment can be made...

Q: Is repatriation of the application money for booking of flat/ payment made to the builder by NRI allowed when the flat is not allowed or the booking contract is canceled?

A: The Authorised Dealers can allow NRIs / PIOs to credit refund of application/ earnest money/ purchase consideration made by the house building agencies/ seller on account of non-allotment of flat/...

Q: If the rupee loan was taken by the NRI from an authorized dealer for the purchase of a residential property can an NRI repatriate the sale proceeds of such property?

A: Yes, Authorised Dealers have been authorised to allow repatriation of sale proceeds of residential accommodation purchased by NRIs/ PIOs out of funds raised by them by way of loans from the...

Q: If the immovable property was acquired by way of gift by the NRI/PIO, can he repatriate abroad the funds from the sale of such property?

A: The sale proceeds of immovable property acquired by way of gift should be credited to NRO account only. From the balance in the NRO account, NRI/PIO may remit up to USD one million, per financial...

Q: Can an NRI own property in India, If I return to India will it be taxed in India and US?

A: Yes, as a PIO, you are eligible to buy property other than agricultural property. On your return to India, you will be an RNOR for 2 years during which your forex income will not be taxable in...