The FinTech Hub
Source: Live Mint My wife and I are both NRIs. She owns a residential property in India which she has rented out. She requested the tenant to credit one month’s rent into my NRO account instead of hers since I’m due to visit India shortly and can use those funds for local expenses. The resident…
Source: Live Mint I have been a non-resident Indian (NRI) for many years and have invested in Indian stocks using income earned abroad, deposited in my NRE account. In FY25, I sold some shares and made capital gains, but my AD (authorized dealer) banker deducted TDS on the gains. I thought income from NRE accounts…
Source: Live Mint Setting up UPI for NRIs NRIs must first link their international mobile numbers to their NRE or NRO bank accounts. This step is most important for enabling UPI or Unified Payments Interface transactions with their overseas numbers. Once linked, NRIs can download a UPI-enabled application compatible with international mobile numbers, such as…
Source: Live Mint I am a non-resident Indian (NRI) residing in Abu Dhabi for many years. I sold my residential property in India at a loss during 2021-22 and filed my income tax return (ITR) well within the due date. However, I have not filed my ITR for 2022-23 since I barely had any taxable…
Source: Live Mint I am a NRI with a residential property in Mumbai that I have rented to a salaried individual. The monthly rent is ₹90,000 and the lessee has deducted TDS at 5%. In the lease agreement, I mentioned my Indian address and PAN but did not inform the tenant about my NRI status….
Source: Live Mint Speaking at an event organised in collaboration with the Financial Planning Standards Board (FPSB) India on the World Financial Planning Day on 4 October, Dipesh Shah and Pradeep Ramakrishnan, executive directors at International Financial Services Centres Authority (IFSCA), talked about how GIFT City, primarily perceived as an investment destination, has much more…
Source: Live Mint I opened a savings bank account for my son when he was a minor. When he became an adult, the account was converted to a joint account with me as a second joint holder. This account is still in operation and has a balance of less than ten thousand rupees at any…
Source: Live Mint I am the promoter of a Belgian company, and I’ve been a Belgian citizen for many years now. I’m planning to retire in India next year. Before coming to India, the company’s operations will cease. I have been advised that for the first year, I will be treated as RNOR (resident but…
Source: Live Mint I filed my income tax return (ITR) as a non-resident Indian (NRI) and it has been processed. If I want to revise the ITR before 31 December do I need to file an updated ITR? I forgot to show some interest income that is taxable at 12.5% under a double taxation avoidance…
Source: Live Mint Without a valid Power of Attorney (PoA), parents risk severe financial penalties and legal trouble. A PoA can help them manage their child’s finances legally, offering protection and peace of mind while ensuring compliance with FEMA regulations. Avoid shortcuts, secure a PoA, and keep your family’s finances safe. Avoidable mistakes: Legal risks…
