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Source: Live Mint The status of being a non-resident in India is determined under two different laws: income tax laws and the Foreign Exchange Management Act (FEMA). The first law impacts the taxability of income earned in India and outside India. The second one regulates investments and banking transactions in India. In this article, we…
Source: Live Mint I am a non-resident Indian working abroad. I plan to return to India and live and work here for at least a few years. Am I allowed to keep my local Indian bank accounts? Do I need to open non-resident external (NRE) or non-resident ordinary (NRO) accounts? Should any income from India…
Source: Live Mint For non-residents, two sets of legal frameworks apply to them. The first legal framework is provided under the Income Tax Act of 1961, which deals with taxing Non-Residents’ income. The other legal framework is provided under the FEMA (Foreign Exchange Management Act) 1999, which deals with investment avenues available to non-residents and…
