Articles
Indian banks hike FCNR, NRE deposit rates
Some prominent banks in India – State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), HDFC Bank and others – have increased the deposit rates for FCNR and NRE accounts.Definition of Residential Statuses: Resident, RNOR, NRI, PIO
From the point of view of Income Tax (IT), a person can have different “resident” statuses: Resident, Resident but Not Ordinary Resident (RNOR), Non Resident Indian (NRI) and Person of Indian Origin (PIO).This article defines these statuses, and explains the difference between each.
Permanent Account Number (PAN) for an NRI and a PIO
If you are a Non Resident Indian (NRI) or a Person of Indian Origin (PIO), you would definitely be faced by this question: Do I need a PAN card? Can I transact in the stock market / shares without a Permanent Account Number? Can I buy or sell property without a PAN card? How do I get a PAN card, where do I apply? What is the procedure? Here are your answers!Residential / Commercial Property for a Non Resident Indian (NRI)
Many NRIs and Persons of Indian Origin (PIO) want to invest in India – in both commercial and residential properties. NRIs and PIOs also plan to buy such properties as an investment, and rent them out to earn a steady income stream.This article discusses various rules and restrictions related to such purchases. It also explains the issues regarding taxation (capital gains and income tax), repatriation, etc.
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