Category: NRI
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Planning a move to US? Check these Tax pointers/tips
If you are contemplating to move to the US on work or for personal reasons, please remember US taxes its citizens and residents on worldwide income. Also, US views pooled foreign investments negatively and treats them as passive investment companies (PFIC) and subject them punitively from a tax perspective. So, if you are a non-US…
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Form 15CA/CB compliances by NRI: Procedure and Issues
Form 15CA/CB compliances by NRI: Procedure and Issues Assume you are an NRI based out USA and you’ve sold property in India and after deduction of applicable TDS by the buyer, the proceeds are in your NRO account. Now, you want to transfer the amount back in USA. As per Indian Income Tax Act, any…
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Should I withdraw my 401K/IRA on return to India?
What to do with your 401K/IRA after return to India is an important decision for many returning NRI families given that if you’ve stayed out of India for long, this forms a good chunk of the overall investment corpus. However, answer to this question is not that simple & needs to be carefully evaluated in…
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Taxation of 401K/IRA (USA) in India
Most of the returning NRIs from USA who have spent considerable time abroad have a good chunk of the total investment corpus invested in 401K plans and hence have a question on taxation of their 401K/IRA investments in India. 401K/ IRA taxation in India is a complicated area and considering the applicable penalties on foreign…
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How NRIs planning a return to India can frame an effective health insurance strategy
At the time of purchasing insurance, there is always a dilemma whether to purchase it in India or outside, in view of implications from point of view of policy features, legal and tax provisions and these must be taken into account to make the right decision. If you are an NRI and planning to return…
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What should I do with my NRE FD on return to India
Today I will be writing about a very pertinent question that is in the mind of 99% of NRIs who return to India after staying away for a long time. From my professional work experience I can say that mostly the investment portfolio of these NRIs (especially those returning from Middle East) is heavily tilted…
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Planning to become an NRI? Read financial checklist
Given the rise in employment opportunities and a global workforce, you can see people going out of India for pursuing opportunities. However, a person who is a resident outside India has to comply with certain laws and regulations enshrined in FEMA and to ensure the the legal and regulatory compliances, some financial tasks should be…