At present, the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, covers only resident Indians. The Finance Bill has expanded the definition of assessees to include NRIs.
Today, NRIs are eager to reconnect with India because India is a growth story and it makes good business sense.
Both NRIs and those who make payouts on sale of property need to understand the TDS provisions that are applicable or risk punishment, warns Sanjay Kumar Singh.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
Resident individuals can acquire and hold immovable property or shares or any other asset outside India without prior approval of the RBI.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
Three non resident Indians were awarded gold medals for their outstanding contribution to the community.
Bank of Baroda (BoB) has revised the interest rates on FCNR(B) and NRE term deposits with effect from December 3, 2004.
In his first address to NRIs outside India after taking over as Congress president, Rahul Gandhi accused the government of dividing people on the basis of caste and religion, alleging it was converting the anger of jobless youth into hatred among communities.
Congress general secretary and chief spokesperson Randeep Surjewala accused the BJP of pushing India into a dark age of religious polarisation to "subserve its parochial political agenda in the short term".
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answers your questions on NRI investment.
Ram Buxani said increase in the customs duty on gold will help Dubai's business.
Don't marry Indians in America, including Canada,' Vayalar Ravi, India's minister for Overseas Indian Affairs often tells people back home.
'I know of at least one techie who quit his job to join the AAP in Delhi. Many others traveled to India to volunteer during the election. If you ask these volunteers why they were doing it when they can't even vote in India, they say, "We want a corruption-free India".' Ritu Jha looks back on the year that was; it was party time, she says, for news junkies like her.
'Bollywood actresses like Parveen Babi and Zeenat Aman were huge inspirations, and they have stuck with us.'
Indian expatriates in the United Arab Emirates have demanded a compensation package from the Indian government as the appreciation of the Indian rupee had impacted their remittances back home. The demand follows a study conducted recently by the Centre for Socio-economic and Environmental Studies, Kochi, which had focused on the impact of rupee appreciation on the economy of Kerala.
The bank is offering a preferential rate on foreign currency conversion, giving special offers on housing loans and providing assistance for searching properties.
'Lataji, Ghalib, Beethoven and Shakespeare are far removed from the normal chain of human civilisation.' 'If they were just role models, how come no one was able to achieve an iota of their perfection?' 'They are a kind of intruders who come as reminders of the rule of mediocrity that prevails.'
Montek Singh Ahluwalia appealed to the Indian Diaspora at the PBD gathering to support health care ventures of the Indian government, for people below the poverty line.
Indian property market has been increasing at between 30-35 per cent per annum, and will continue to see huge demand in the coming years.
In a bid to promote two-way engagement and build better understanding with the Overseas Indian community, a unique institution - 'Pravasi Bhartiya Kendra' - will come up in New Delhi by next year.
But the question the Indian taxpayer is now asking is, who should pay for all this? The Indian government, using the taxpayers' money? The Indians who went there to make money, and have surely made enough of it to spend on securing their future? Or even the companies that sent Indians there to work on projects?
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment
The Non-Residential Indian community in London felicitated Khalid Hameed, former High Sheriff of Greater London and erstwhile Chief Executive of Cromwell Hospital, on his elevation to the peerage.
Aam Aadmi Party's Ferozepur Rural candidate Amandeep Ashu Banger on Monday quit the party and joined the ruling Congress in Punjab, alleging that Arvind Kejriwal's outfit runs like a "multinational company" with only Delhi leaders calling the shots.
A start-up by three friends with Angel investment of Rs 1.5 crore, NautankiTV has close to 40 per cent of its users from the US and UK.
BJP leader Poonam Mahajan explains why she believes that NRIs joining Parliament will strengthen democracy.
The suggestion was made by Chief Minister Oommen Chandy at the on-going Pravasi Bharatiya Divas at Kochi.
In what is being seen as a veiled jibe at Punjab Congress president Navjot Singh Sidhu, CM Charanjit Singh Channi on Friday asked policemen not to bother about who says what and said criminals wet their pants on seeing them.
Three Indian Americans have been awarded by the Indo-American Chamber of Commerce for their outstanding and tireless work as entrepreneurs.
A longstanding demand for voting rights in India by millions of Non Resident Indians may finally see the light of the day with a group of ministers clearing a draft bill on the issue, paving way for its consideration by the Union cabinet.
Indians have spread to virtually every corner of the globe and have made their mark in the chosen line of business or profession.
The net worth of the richest Americans grew by 13% in the past year to $ 1.7 trillion.
GSR 592(E) states that all NRIs -- including PIO like your son -- are not eligible to open PPF accounts. The accounts opened prior to all these dates are allowed to run up to their maturity but no extension or renewal can be made.
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