ITR for NRIs

Are you an NRI ?  How is ITR for NRIs different from resident taxpayers ? All these questions are answered in this post. NRIs should file their ITR on time like residents to avoid income tax notice. Although, NRIs need not pay  taxes on interest income from NRE/FCNR Deposits , they should file ITR timely. >> It is … Read more

Returned To India?

Returned to India ?  You can open below accounts on your return to India: Resident Foreign Currency Savings Account An RFC savings account can be opened by NRIs who have returned for permanent settlement after being resident outside India for a continuous period of not less than one year; to enjoy the flexibility of converting … Read more

What is FATCA?

Foreign Account Tax Compliance Act   India has signed the Inter-Governmental Agreement (IGA) with the USA on July 9, 2015, for Improving International Tax Compliance and implementing the Foreign Account Tax Compliance Act (FATCA). India has also signed a multilateral agreement on June 3, 2015, to automatically exchange information based on Article 6 of the … Read more

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