The NRIs Ready Reckoner is a one-stop, easy-to-navigate guide tailored for Non-Resident Indians seeking clarity on their rights, responsibilities, and opportunities in India. Whether you're planning to invest, repatriate funds, buy property, file taxes, or manage legal formalities, this reckoner offers a concise overview of essential topics.
Residential Status & Taxation: Understand how your stay duration affects your tax status under Indian law.
Banking & Accounts: Types of accounts for NRIs – NRE, NRO, FCNR – and how to manage them.
Investment Avenues: Guidelines on investing in mutual funds, stocks, real estate, and startups.
Income Tax & Filing: Overview of income sources taxable in India, DTAA benefits, and filing procedures.
Repatriation Rules: How to move money in and out of India legally and efficiently.
Property Ownership: Rules on buying, inheriting, or selling property in India.
Compliance & Documentation: PAN, Aadhaar, FEMA, and RBI compliance essentials.
Inheritance & Succession: Legal framework around wills, inheritance, and estate planning for NRIs.
This reckoner acts as your trusted companion, helping you make informed decisions and stay compliant while maximizing your benefits as an NRI. Ideal for NRIs, Overseas Citizens of India (OCIs), and professionals advising global Indian clients.
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Who is an NRI?
Importance of understanding Indian rules for NRIs
Purpose of the Ready Reckoner
Definition under FEMA and Income Tax Act
Difference between NRI, OCI, PIO
Calculation of residential status with examples
NRE (Non-Resident External) Account
Features, benefits, tax implications
NRO (Non-Resident Ordinary) Account
Purpose, repatriation limits
FCNR (Foreign Currency Non-Resident) Account
Currency options, interest rates, risk protection
What income is taxable in India?
Income earned in India
Global income: when is it taxed?
TDS applicable to NRIs
Filing income tax returns (ITR)
Exemptions and deductions available
DTAA (Double Taxation Avoidance Agreement)
Permitted investments under RBI and SEBI
Mutual Funds
Equities and Bonds
Real Estate
Government Securities
Portfolio Investment Scheme (PIS)
Taxation on capital gains
Repatriation of sale proceeds
Rules on buying property (residential/commercial)
Inheritance and gift of property
Selling and repatriating proceeds
TDS on property transactions
Limits and procedures
Documents required (CA certificate, Form 15CB, 15CA)
RBI approvals (if applicable)
PAN card requirements
Aadhaar for NRIs – when and how it's needed
FEMA (Foreign Exchange Management Act) compliance
KYC norms for banking and investments
Making a Will in India
Inheritance laws for NRIs (Hindu Succession Act, Sharia, etc.)
NRI as nominee/legal heir
Taxation on inheritance
Changing residential status
Tax implications of return
Planning investments and asset structure
RNOR (Resident but Not Ordinarily Resident) status
Can NRIs open a demat account?
Are mutual fund redemptions taxable?
Can NRIs own agricultural land?
Is rental income in India taxable?
List of important government forms
RBI circulars and notifications
Income Tax India and FEMA resources
| D T Khilnani NRIs Ready Reckoner |
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