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Here are the FEMA rules for the NRIs
NRIs can buy residential and commercial properties in India and receive immovable property gifts from their inheritance or relatives. However, they are not allowed to buy any plantation or agricultural lands in India.
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A foreign tax credit allows residents to pay the tax on their foreign income in another country to lower their tax liability in India. The main purpose of the foreign...
A Form 15CA is a declaration that is used to collect the information which is related to the payments that are chargeable to tax with Non-residents. It is a useful...
Here are the deductions under the Income Tax for the NRIs. For the NRIs, most of the deductions fell under Section 80. A maximum deduction under section 80C is up...
Here are some of the best ways for the NRIs to send money to India. Wire Transfer: A Non-resident of India (NRI) can transfer their money from foreign or their...
NRI funds repatriation means the transfer of funds from the NRI bank account to an Indian bank account or their residence country bank account. It includes both processes of sending...
To download Form 16 for the salaried, you need to follow the given steps below: First, you need to visit the official website of the Income Tax Department. Now, log...
Section 90A of the Income Tax Act is applicable between the specific associations of two countries that have signed the Double Taxation Avoidance Agreement (DTAA). This Section allows for a...
Section 91 of the Income Tax Act applies to an individual who is eligible to claim the tax relief under a condition if the DTAA is not present between Indian...
Here are some of the major advantages of the double taxation treaties for Indian residents, which help them manage international investments and incomes. DTAA provides tax exemptions for people who are...
Yes, NRIs are imposed with several exemptions and deductions under the Indian Income tax laws. These deductions come under the sections 80C, 80D, 80G, 80TTA, which are easily available to...
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NRIs can repatriate funds up to 1 million USD in a financial year, and it is allowed even if you are retired from employment or have inherited the property. According to the FEMA rules sale of the proceeds of such assets is non-repatriable outside India, and they can repatriate assets, like rents earned from the immovable property owned overseas.
The students who are in foreign countries and treated as NRIs are eligible for all the facilities under the FEMA rules. They can receive remittances up to 10 lakh USD in a year from their NRO and NRE accounts.