Page 2 - Nri

NRIs hold back on market bets amid tax knots and regulatory hurdles

Non-residents have tax deducted at source in India, along with potential taxation in their home countries

Luxury penthouses back in vogue on uber-rich Indians' growing appetite

Space, privacy, prestige selling points for buyers

HC helps NRI avoid massive tax: why selecting a correct ITR form is key

A Delhi HC ruling protects an NRI from a huge tax demand, highlighting the importance of correct TDS filings in property sales and offering key lessons for NRIs.

Wrong visa, full tax: Indian entrepreneurs abroad risk losing NRI status

Choosing the wrong visa for overseas travel can cost Indian entrepreneurs their NRI status and make their global income taxable, as seen in the Hot Breads founder's tax case

Indian firms in FDI-ban sectors can issue bonus shares to existing NRIs

The move is set to give much-needed clarity to companies in the tobacco sector that have been seeking clarification regarding the issuance of bonus shares, experts said

NRI contributions transform Gujarat villages under 'Vatan Prem Yojana'

The rural landscape of Gujarat is witnessing a remarkable transformation thanks to the state government's 'Vatan Prem Yojana', which encourages NRIs to contribute to the development of their native villages under a public-private partnership model. Launched in 2021, the scheme encourages donations from non-resident Indians of Gujarati origin to fund projects, such as the renovation of schools and other infrastructure works, in their native villages. Khadal in Kheda district has benefitted from the scheme, particularly in the education sector, said village sarpanch Phulsinh Zala. He said thanks to donations worth Rs 72 lakh from NRIs, the village now has a new school that provides quality education to nearly 400 students and inspires other villages. "Children have become enthusiastic. People from other villages come here to witness this transformation. They were curious about how it was built, so I explained that it was constructed under the Vatan Prem Yojana," Zala told ...

Ranya Rao gold smuggling controversy: What India's customs rules say

Kannada actress Ranya Rao was caught smuggling gold at Bengaluru Airport. Here's a look at India's customs rules on gold, cash limits, and penalties under the Customs Act of 1962

Flows in NRI deposits up 43% to $13.33 bn in April-December 2024: RBI

The total outstanding NRI deposits as of the end of December 2024 stood at $161.8 billion, the latest data released by RBI showed

US deports 205 Indian migrants amid Donald Trump's border crackdown

Punjab officials will receive those deported at Amritsar airport

Indian Americans' success story: Talent, meritocracy, and risk-taking

In 1970, there were 0.5 million Indian Americans, a number that had risen to about 1.6 million by 2000

ED conducts raids in West Bengal over irregularities in medical NRI quota

The raids are part of an ongoing investigation into the alleged manipulation of NRI quota admissions, a practice that reportedly involves substantial financial transactions, fraudulent documentation

NRIs and Indian markets: Their Tax implications and investment options

They are subject to Indian tax rules for such investments and may get benefits under bilateral treaties

SC slams NRI quota admissions as 'fraud', dismisses pleas against HC order

'We must stop this NRI quota business now. This is complete fraud and this is what we are doing to our education system', said the Supreme Court of India

Widening of NRI quota: Supreme Court junks Punjab's plea against HC verdict

The Supreme Court on Tuesday dismissed the Punjab government's appeal against a high court verdict quashing its decision to expand the definition of NRI quota' for admissions in undergraduate medical and dental courses in the state. "This fraud must come to an end now," the apex court said. On September 10, the Punjab and Haryana High Court trashed the AAP-led state government's August 20 move extending the ambit of the NRI quota to include distant relatives "such as uncles, aunts, grandparents, and cousins" of NRIs for admissions under 15 percent quota for this group in admissions in medical colleges. "This is nothing but a money spinning machine, observed a bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra. "We will dismiss all the petitions. This NRI business is nothing but a fraud. We will put an end to all this.... now the so called precedents must give way to primacy of law," said the bench. Terming the high court verdict "absolutely right", th

MIF launches one-stop portal for NRIs; will help resolve tax issues

Owing to tax-related changes in India, Rajasthani NRIs face difficulties related to investment provisions in India, Vijay Garg, founder and general secretary of MIF, said

NRI deposits see nearly $4 billion inflows in April-June FY25: RBI data

In June, inflows into the various NRI schemes stood at $1.23 billion compared to $1.7 billion in May

HC sets aside assessment proceeding against NRI over faceless issue

It should be noted that the notification by the CBDT carved out an exception for international taxation cases, including NRIs, for reassessment

Five entities enter test phase for 5th cohort of RBI's regulatory sandbox

The banking regulator received 22 applications for this cohort of the regulatory sandbox

80% developers expect increase in housing demand from NRIs in 2024: Report

Overall housing demand in country to increase by up to 25%, it says

SBI announces 11 new initiatives to mitigate risks in agri loan portfolio

The country's largest lender SBI on Thursday announced 11 new initiatives -- including enhancement of its digital banking features and opening of 35 new Agricultural Centralised Processing Cells -- to mitigate risks in its agricultural loan portfolio. On the occasion of the 69th Foundation Day, State Bank of India announced these initiatives to widen the bank's accessibility to address the banking needs of its potential customers, the lender said in a statement. SBI has enhanced its digital payment experience, with the introduction of two exciting features like tap-and-pay on the BHIM SBI PAY app and end-to-end digital loans against mutual funds on the YONO app, it added. The bank has also announced an initiative, which is a fully digital end-to-end journey for SBI Surya Ghar Loan, it said, adding that the users can opt for credit to install solar rooftops under the central government's PM Surya Ghar Scheme, offering loans for up to 10 KW capacity. The entire process will be manage