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Difference Between NRE and NRO Accounts

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If you are a Non Residential Indian (NRI), you may have faced the situation as to how to maintain a rupee account within the country. You may want to open a rupee account in India for either repatriating money earned overseas back to India and/or for keeping the money earned in India within the country. For this, you as an NRI have an option of opening an NRE or/and NRO account. NRE and NRO accounts can be opened by any person who is of the Indian origin or who is an overseas citizen of India.  NRE stands for Non-Resident Rupee account and NRO stands for Non-Resident Ordinary Rupee account. Both NRE and NRO accounts are Indian rupee accounts and can be opened as current or savings accounts. However, whichever account you may open, you have to remember to keep a minimum balance of Rs 75000 every month. Difference between NRE and NRO Accounts Tax Treatment: In India, NRE accounts are tax-free. No kind of tax such as income, wealth, etc can be imposed on the money in...

Planning to Buy Property in India? Here are Some Things you Should know as NRI

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Being an NRI is slightly different than other locals that are living in India and there are certain rules that make them different from the local Indian. When it comes to the property then there are some important things that you have to know as an NRI and it will surely benefit you when you are planning to invest in Real Estate in India. Buying a property or investing in one is more lucrative in India and some really reasonable rates over the past few years. Anyways, here are some important things that you have to know about Real Estate in India as an NRI. 1) What can an NRI Buy? An NRI can buy any immovable land in India other than any agricultural land and farm houses or the areas known for plantation with NRI NRO Accounts. If you still want to get your hands on the lands or the agricultural land then you have to get approval from the RBI side to approve and that thing will take time. So, if you are running late already then you should never choose any plantation land to in...

Are you looking for Non Resident Taxation chartered Accountant?

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Are you an NRI? Are you willing to establish a business in India? Are you looking to explore the nuances of such a prospect? If yes, then this particular blog is meant for you. Read on to discover how this particular blog can actually help you! Non Resident Taxation chartered Accountant: What are their functions? The very first thing that you should know is that as an NRI looking to set up a business in India, you should go on to learn about the tax obligations you have. Needless to say, you will actually go on to seek help from Non Resident Taxation chartered Accountant because at the end of the day, you need knowledgeable guidance to navigate the dire financial and legal issues associated with such a proposition (like setting up a business in India). You will be covered under FEMA or the World Class Foreign Exchange Services. These professionals will prepare you for the tax returns procedure. They will also help you explore the tax benefits that you enjoy. They will h...

Can you Set Up a Business in India as an NRI?

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As an NRI, if you are looking to set up a business in India, then you should wisely seek help from professionals who have been assisting NRIs in this particular area for years now. The benefits of relying on their services are too many to count. Their service plans are devised as per the rules and regulations existent in the country. As a foreign investor you might as well want to set up any one of the following types of businesses in the country: Branch Office Representative or Liaison Office Project Office Joint Venture Whole Owned Subsidiary The Need for Professional Assistance As you might as well have already gauged by now – there are nuances to be understood ---government-defined rules to be followed. Different rules need to be followed in accordance with the different types businesses to be set up in the country. For instance, if you are looking forward to creating a private limited company here you need to have a minimum of two shareholders, the ...

Purchase and Sale of Property for NRI

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Usually, non resident Indians are not really governed by the tax regulations existent in the country. However, if they want to sell or purchase a property in the country, then they would be required to pay taxes on the capital gains. For NRIs, the best way to approach the sale or purchase a property in India would be to be guided by legal professionals associated with the Purchase and sale of property for NRI in Delhi . They are the ones who should be approached because they are intimate with nuances such as Long Term Capital Gains, tax implications in case of inheritance and ways to save tax on capital gains etc. Purchase and Sale of Property: What Should NRIs know? In the very first place, an NRI should ideally understand that if he wants to sell or purchase a property in India then he would have to pay taxes on the Capital Gains. The amount of tax payable depends on whether it’s a long or short term capital gain. Long Term Gain is when the property is sold after a period of 2...

Non resident Taxation: Its Significance Unveiled

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For every NRI setting up a business in India, do know for a fact that you are not really required to worry about your taxes. NRIs – though residing out of India- do enjoy the right to set up businesses in the country. Generally, these individuals are not covered by the Income Tax Act of India but once they decide to set up a business here, they are supposed to follow certain rules and regulations imposed by the country. And, here’s where one needs to acquaint himself with Non resident Taxation . NRI Taxes: Are you confused? Now, the taxation rules governing Indian companies in India and NRI companies in India may or may not differ. In short, taxation remains an area which continues to confound NRI businesses – so much so, that those mulling commercial ventures in the country back out weighing possible risks. The key is to understand that there is no risk involved-- provided-- you are taking the trouble to reach out to specialists dealing with NRI taxes. Provided you are getti...

Know Complete Details About The Nri Taxation!

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An NRI is a person who stays outside of India and he is not under the Income-Tax Act of India but he or she can able to establish a new business in our India. If an NRI want to open a new business or office, then they have to follow some rules and regulation properly. If you are planning to open a business in India, but don’t have much idea about the Indian rules and regulation, then know about the Nonresident taxation in India details through a reputed company. Choose a reputed company for this purpose Presently, there are several online companies available in the market who offers different types of taxation details to their customers. You can choose any one after profound research through the net. A reputed company includes several NRI Investments advisers who will understand your requirement and provide a complete solution. You may generally face different types of financial and investments problems and to solve this, you require an expert who can maintain and guid...