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I am no more NRI now, what about my existing fixed deposits with the banks in India, and as per rule I need to close NRE account. Do I need to pay income tax on payout of maturity amount. Also Know – For what purpose NRI Home Loan can be availed? Answers : The proceed of […]
Following List of NRI Home Loan Documents Required by banks in India, Non-Resident Indians (NRIs), PIOs to get Home Loan from any banks in India. Check out the list of important documents for NRI Home Loan : a. Attested copy of valid Passport and Visa in respect of NRIs & Attested copy of valid Passport and […]
The borrowers with the following details are eligible for NRI Home Loan with any banks in India. These are the minimum requirements to apply. Bank may ask for additional documents based on their satisfaction. (i) Resident Individuals – Salaried / Businessmen / P&SE with minimum period of confirmed service / experience of 3 years (ii) […]
NRI Home Loan can be granted for following activities by majority of Banks in India. a) to purchase / construct a new house / flat b) to purchase house site and construction of house thereon c) to purchase an existing house / flat d) to extend an existing house/ additional construction e) to repair / renovate […]
In terms of Section 2(v) of FEMA, 1999, a “person resident in India” means – a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include – (A) a person who has gone out of India or who stays outside India, […]
In connection with private visits abroad, viz., for tourism purposes, etc., foreign exchange up to USD10,000, in any one calendar year may be obtained from an authorised dealer. The ceiling of USD10,000 is applicable in aggregate and foreign exchange may be obtained for one or more than one visit provided the aggregate foreign exchange availed […]
On return from a foreign trip travellers are required to surrender unspent foreign exchange held in the form of currency notes within 90days and travellers’ cheques within 180 days of return. However, they are free to retain foreign exchange upto USD 2,000, in the form of foreign currency notes or TCs for future use or […]
Let’s checkout Who can open a NRE Bank account in India. These guidelines are common to all the banks including Government Banks, Private Banks & others. The following individuals can open a NRE/NRI Bank account without prior approval of RBI. 1. Non Resident Indian (i.e. An Indian Citizen, who have gone abroad for gainful employment or […]
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