NRIs

I was on a call with an NRI from Dubai. Husband & wife were fond of each other but had one contention… The husband was keen to settle in India after few years but the Wife was not. REASON: She was ready to adjust to any length but she wanted her children to get anRead More

Why & How NRI Should Close Indian Bank Accounts?

by Madhupam Krishna

can i have both nre and savings account, can nri continue with resident savings account, can nri transfer money to savings account in india, How to close Resident Indian Bank Account, Non-Resident Ordinary Rupee Account, NRI Banking, nro account, NRO account for NRI, penalty for not converting to nro account, Should NRI close Savings Bank Account

It is a fact that many Indians still keep their Indian Bank accounts without converting those to Non-Resident Accounts. This is a huge blunder and against the law. When asked – NRI Should Close Indian Bank Accounts the response they give is – Don’t Know… How To Do It… When to do it? etc etc..Read More

Tax Residency Rules in Some Countries (USA, Canada, UK, UAE & Singapore)

by Madhupam Krishna

Canada TAX RESIDENCY, permanent resident test, Substantial presence test, Tax Residency Rules, Tax Residency Rules Dubai, Tax Residency Rules Singapore, Tax Residency Rules UAE, Tax Residency Rules UK, Tax Residency Rules USA

A few days ago I wrote a post on the determination of Tax Residency for NRIs who live or work in multiple countries. The rules are general in nature, as developed by the OECD or UN model. But certain countries also have certain rules of their own to determine residency status for NRIs or citizensRead More

Residency Tie Breaker Rules & Relevance

by Madhupam Krishna

determine residency, DTAA, Residency Rules, residency test, Residency Tie Breaker Rules

We all know the individual who wishes to take relief under the Double Taxation Avoidance Agreements (or treaties) has to qualify as a tax resident of one of the countries of the treaty. But how do you assign or determine residency? By applying the Residency Test or following the Residency Tie Breaker Rules as detailedRead More

Understanding RNOR Status & It’s Benefits

by Madhupam Krishna

Advantages of RNOR, Advantages of RNOR Status, Resident but not ordinarily resident, Resident but not ordinary resident, RNOR, RNOR Status For Merchant Navy

Many NRIs who have spent considerable time working abroad, are very keen to shift to India to spend the later part of their life. When you are coming back to India, you need to understand the financial framework & tax laws, investment rules & regulations, governing bodies & many financial institutions. To smoothen the transitionRead More

Qualifying Recognized Overseas Pension Scheme (QROPS)

by Madhupam Krishna

Benefitsof QROPS, QROPRS, QROPS Qualified Companies in India, QROPS Qualified Schemes, QROPS Transfer Process in India, Qualifying Recognized Overseas Pension Scheme, Taxation of the QROPS, What is QROPS

A Qualifying Recognised Overseas Pension Scheme Or QROPS” allows individuals who live outside the UK, or are intending to leave the UK, to transfer their UK-registered pension into an approved offshore pension scheme without deduction of UK tax. For those individuals that qualify for such a pension, a QROPS plan can provide greater flexibility, improvedRead More