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Know These Tax Implications Before Moving to India as an NRI

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  If you are an NRI planning to relocate to India, there are various financial laws and regulatory challenges that you will face if you have not carefully planned your transition. The major concern that NRIs have regarding their finances is the tax laws. NRI returning to India tax implications can be problematic, and you might incur penalties if you are not careful. Do not worry. In the following blog post, we are going to explain all the things you should know to seamlessly transition all your finances to India from a foreign country. Regulatory Bodies There are two main regulatory bodies in India that you must familiarise yourself with as an NRI: Foreign Exchange Management Act (FEMA) and the Indian Income Tax Act (ITA). FEMA tracks and monitors where you can invest. ITA regulates how all of your investments will be taxed. Residential Status It is very important that you are aware of your current residential status. Failing to do so will get you in trouble with the ITA. You will...
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Common Inheritance Planning Techniques That NRIs Can Use

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  The number of NRIs (Non-Resident Indians) has grown significantly in the past few years. This has made various NRIs become concerned about estate planning and succession planning. There are various cross-border tax laws and other kinds of laws that they have to comply with, making the processes and transfer of funds for NRIs  even more complex. Thus, proper estate planning is very important for NRIs, or they might incur hefty fines from both countries involved. In the following blog, we are going to explain the different estate planning techniques that NRIs can use. Creating a Will One of the most basic things you can do as an NRI is to create a legally valid will. It will allow you to clarify your heirs and how you wish to divide your assets that are located in India. Setting up a Private Trust Setting up a private trust or investing in private trusts for NRIs provides an alternative to making a will. This can be easily done with the help of a lawyer, and all the key indivi...
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