Non-resident Indians (NRI) comprises of non-residents under FEMA and non-Indian citizens of Indian Origin (PIO). Thus NRIs can have three types of bank accounts: Non-resident Ordinary (NRO)Non-resident External (NRE)Foreign Currency Non-Resident (FCNR) Opening an NRO account An NRI can open an NRO (Non-Resident Ordinary) bank account at any point of time or can also change his existing bank account into an NRO account. A citizen of any other country can open an NRO account during his stay in India. But citizens of Pakistan and Bangladesh require prior permission of RBISEE DETAILS

Contents :- What is Section 80GG as per Income Tax Act? How to claim deduction under Section 80GG? What will be the quantum of deduction under section 80GG? Examples on section 80GG. Who can claim Deductions under this section? What is the information required for claiming deduction under section 80GG? FAQ’s House rents can become a real burden mainly in the metropolitan cities where getting a house on rent is difficult. Since the demand for the rented house is so high, the rent also getting skyrocketed with every passing day.SEE DETAILS

Contents :- What is the Senior Citizen Saving Scheme? Who is eligible to invest in this scheme? What is the investment limit under this scheme? What documents are required to open an account under the Senior Citizen Savings Scheme? Step-by-step process to open an account under the Senior Citizen Saving Scheme: How much interest is paid on the investments under this scheme? Maturity period and premature withdrawals Tax exemptions under this Scheme? Nomination facility under this Scheme? Other important information regarding the Senior Citizen Savings Scheme? As citizens, we haveSEE DETAILS

What is Public Provident Fund? Public Provident Fund (PPF) is a long term investment scheme which is popular amongst the masses. This scheme was introduced by the Government of India to promote savings. It offers an attractive interest rate, high returns along with several safety features. You are eligible for tax exemption under Section 80C Of The Income Tax Act. You can save a maximum of Rs. 1.5 lakhs under PPF in one financial year. Apart from tax rebate, you also get the opportunity to extend the maturity of your PPFSEE DETAILS

Whenever you discuss taxes either of two things happens – the people are unaware and therefore not interested or they are interested but the discussions are way too technical for a normal person. While most of us are familiar with the usual suspects like our Form-16 and ITR but there is still a lot beneath the surface. In this series, we will be bringing you the various aspects of taxation and tax-filing in form of simple discussion. Let’s start with NSC or National Saving Certificates. This is one of theSEE DETAILS

Post office savings bank account is a great initiative by the Government of India for small savings and is quite similar to the saving accounts found in banks. It is widely popular in rural and semi-rural areas where the bank approach is limited. It is the safest place to deposit your liquid cash while earning a fixed return on it. Additionally, the deposits can be liquidated anytime as per your need. Your deposits could be tax-free as well depending upon the interest earned and as per the Income tax act.SEE DETAILS

Contents :- How ULIPs work? Types of ULIPs Unique features of ULIPs Charges under ULIPs Tax implications of investing in ULIPs FAQs The allure of market linked returns cannot be ignored. The returns are high and are also in trend with the growth in the economy. To tap into the attractive returns promised by the capital market, life insurance companies introduced unit linked life insurance plans, called ULIPs in short. ULIPs are life insurance plans which invest the premium in the capital market and give you market linked returns. And,SEE DETAILS