Introduction:Demat accounts play a crucial role in the Indian financial landscape, serving as a repository for securities in electronic format. Whether you are a resident Indian or a Non-Resident Indian (NRI), having a demat account is essential for trading and investing in the stock market. However, there are distinct differences between a regular demat account […]
Introduction:Despite moving overseas, NRIs remain connected to their roots in some form or another. For example, the NRIs often have to take care of their near and dear ones or ancestral properties in India. In another scenario, NRIs earn passive income such as rent and investments in India, and they need this money in their […]
Banks in India provide various facilities for NRIs to manage their income, investment and transactions in India and the convenience of opening a bank account easily.Among various accounts, the NRO account or Non-Resident Ordinary Account is one such account which helps NRIs to manage their earnings in India. Earnings can be in the form of: […]
While immovable property generally refers to a property that is fixed to earth such as a house; an agricultural land usually refers to such a land which is devoted to agriculture, and the controlled and systematic rearing of livestock along with the production of crops, in order to produce food for humans. Thus, it is […]
NRIs, PIOs and OCIs are exempted from Aaadhaar Card.It is compulsory in India to link all saving bank accounts with Aadhaar Card. If you still have normal saving accounts in India, it is a compulsion for NRIs too to link it with Aadhaar card by 31/03/2018. To avoid freezing accounts NRIs, PIOs and OCIs need […]
The Foreign Exchange Management Act, 1999 enables the Reserve Bank to build laws to prevent, limit or control the acquisition or transfer of immovable property in India by the NRIs. The FEMA denies buying or transfer of real estate in India by the citizens of certain countries. It mentions – No person who is a […]