Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
Last year, in a reply to a question in Lok Sabha, the government informed Parliament that as of 2021, an estimated 13.5 million Indian nationals resided in various countries outside of India. Of these, 8.8 million were in the Gulf countries. Given the pandemic, there hasn't been a significant change in the number of Indians settling abroad, but data between 2015 and 2018 shows that the number of Non-Resident Indians (NRIs) increased 18 per cent in these three years. In 2015, India had 11.4 million Indians settled abroad, which increased to 13.4 million in 2018.
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
All that you must know about the pros and cons of gift deeds, tax implications, essentials, documents required, conditions, etc...
Before he plays a lawyer in Kesari 2 next, Sukanya Verma looks at the professions Akshay has acted on screen before.
Experts said the rules will help curb market manipulation and money laundering, which could take place during the transfer of shares between residents and NRIs.
If you don't make the necessary adjustments after October 1, 2024, you'll stop earning interest on accounts that aren't in compliance rediffGURU Milind Vadjikar
While MBBS continues to be the most sought-after stream for medical aspirants, post pandemic, the demand for skilled nurses and physiotherapists are on the rise, notes Nayagam PP, career counsellor and founder of EduJob360.
The Congress president will be the state guest of the Kingdom of Bahrain and will address NRIs settled there on January 8.
The Indian Diaspora has been able to carve a niche in their adopted countries as a result of their talent, perseverance and hardworking nature, asserts Rup Narayan Das.
'It has the potential to sow seeds of furthering discord when the direction of the discourse is aimed at propagating the perceived supremacy of 'cultural nationalism' from a distant past over the prevailing dominance of 'Constitutional nationalism',' argues N Sathiya Moorthy.
The government on Wednesday permitted NRIs to invest up to 100 per cent stake in disinvestment-bound Air India. The decision comes at a time when the government has sought preliminary bids for 100 per cent stake sale in the national carrier. "Today's decision on Air India is one milestone decision where NRIs... will get permission to invest 100 per cent in the airline," Union Minister Prakash Javadekar told reporters at a briefing about the Union Cabinet's decision.
With real estate -- NRIs's favourite investment vehicle in the past -- unlikely to do well in the near future, there is a strong case for NRIs to shift to equity and debt mutual funds, says Prateek Mehta.
Outgoing Chief Election Commissioner Rajiv Kumar has expressed concerns about long-pending cases questioning electoral processes, arguing they fuel distrust and should be scheduled with consideration for election periods. He also advocated for enhanced transparency in political promises, with clear disclosures on financial viability and impact on state finances. Kumar further stressed the need for a totaliser system to maintain polling station-wise voting confidentiality and urged the empowerment of NRIs to vote remotely. He highlighted the potential of biometric authentication and technology to address issues like impersonation and multiple voting.
The share of non-resident Indians (NRIs) and overseas investors in Indian mutual funds has been declining over time, despite adding half-a-trillion rupees to holdings over the last five years. Mutual fund holdings for the segment went up from Rs 0.95 trillion as of December 2018 to Rs 1.54 trillion as of December 2022, shows Business Standard analysis of data from the industry body Association of Mutual Funds in India (Amfi). Their share in overall mutual fund assets has fallen from 4.2 per cent to 3.9 per cent during the same period.
The Lilavati Kirtilal Mehta Medical Trust (LKMMT), which runs Mumbai's Lilavati Hospital, has accused its former trustees and related individuals of misappropriating over Rs 1,500 crore. The trust has filed complaints with the Enforcement Directorate (ED) and the Bandra Police Station, alleging that the misappropriation, uncovered during a forensic audit, has impacted the trust's operations and healthcare services. The trust has also claimed that black magic was performed in the hospital premises by former trustees and related individuals. The Bandra Magistrate Court has ordered an inquiry against these individuals. The current trustees have identified large-scale irregularities in the hospital management body's affairs and appointed forensic auditors who found that over Rs 1,500 crore has been siphoned and misappropriated by the former trustees. The Mumbai police's Economic Offences Wing (EOW) has initiated a probe into an alleged cheating case of Rs 85 crore registered against three former trustees of the hospital.
The Supreme Court on Tuesday dismissed the Punjab government's appeal against a high court verdict quashing its decision to expand the definition of 'NRI quota' for admissions in undergraduate medical and dental courses in the state. "This fraud must come to an end now," the apex court said.
'Any earnings, regardless of location, will be subject to Indian income tax.'
Overseas Indians deposited around $4 billion in non-resident Indian (NRI) deposit schemes in April - June FY25, up 79 per cent over the amount deposited in these schemes in the same period last year, data released by the Reserve Bank of India (RBI) on Monday showed. In April - June FY25, inflows into the NRI schemes stood at $3.95 billion, compared to $2.21 billion during the same period a year ago. With this, the total outstanding NRI deposits as of June stood at $155.71 billion.
Many of my NRI friends agree that America's Immigration & Naturalisation Service, because of its immigration criteria, has created a highly selective and narrow population of NRIs in terms of capability .
Indians living abroad are equally eligible for housing loans from banks here but with some riders.
NRI demand would help offset the liquidity problem, which is presently affecting realty sales.
What does this mean for you? Ramalingam Kalirajan explains.
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
An international convention of people of Indian-origin in the US has demanded voting rights for Indian citizens living outside India and Rajya Sabha seats for Non-Resident Indians.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
Chit funds can accept subscription from NRIs on non-repatriation basis
Rejecting news reports, a Commission spokesperson said no such facility has been extended.
The draft law also allows courts to send summonses and warrants to the accused through a specially designated website to be hosted by the Ministry of External Affairs.
The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India. The latest amendments also seek to simplify cross-border share swaps and streamline key definitions, such as "control". The updated regulations have aligned the treatment of downstream investments made by overseas citizen of India (OCI)-owned entities with those owned by non-resident Indians (NRIs) on a non-repatriation basis.
A N Shanbhag and Sandeep Shanbhag answer the queries of the readers on investment issues
NRIs must be given business priority in India.
Despite the slowdown, property investments can give them good returns over the long term
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Nearly 40 developers participating in HDFC Indian Homes Fair in London would showcase thousands of property.
Targetting Non Resident Indians in the United States, Bharti Airtel on Thursday launched its 'CallHome' service at the price of 7.9 cents per minute.
Such a legislation, the panel said, should be made applicable not only to the NRIs but also to those individuals who come within the definition of 'Overseas Citizens of India' as laid down in the Citizenship Act, 1955.
NRIs can lock into NRE/NRO fixed deposits, buy real estate and invest in long-term equity investments.
NRIs could run into difficulties if they possess discontinued currency notes amounting to a high value.
