NRI Property
Mysore realty market has become an attraction for non-resident Indians (NRIs). NRIs and expats from Karnataka are increasingly showing an interest in the real estate market of Mysore for residential as well as for business purpose. Currently, there are over 30 residential projects in Mysore being developed primarily for NRIs. The reason behind the increased [...] Continue Reading »
The Reserve Bank of India on Tuesday said Non-Resident Indian (NRI) would not be eligible for incentives on interest on home loans of up to Rs 10 lakh. The central bank said in a notification. The central bank said the notification follows the recent clarifications issued by the government. The government, in the Budget of [...] Continue Reading »
An NRI/PIO is allowed to send abroad up to $1 million from the sale of property in any one financial year.This amount should be the sale proceeds of property inherited by him out of rupee funds. The $1 million remittance can also be made from the balances held in Non Resident Ordinary Rupee (NRO) Accounts. [...] Continue Reading »
Direct Taxes Code Bill proposed to make an NRI liable to pay tax on global income The new DTC (Direct Taxes Code) Bill has been proposed in order to make an NRI liable to pay tax on global income if he resides in India in a particular year. In addition, the DTC has also removed [...] Continue Reading »
