Indian residents residing out of India i.e. NRI (Non-Resident of India) should have a PAN (Permanent Account Number) card. It contains a unique alphanumeric number. PAN card is required to file for a tax return in India but that doesn’t necessarily means that those who have a PAN card must file for tax. PAN card is important for NRIs when they have to remit money to India or it is helpful for the NRI people in case of money exchange/ stock exchange and so on.
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OCI and PIO cards to be merged but what are they?
Exactly one month ago from now on 29th September, Prime Minister of India, Narendra Modi announced the merging of OCI and PIO card at the Madison Square Garden where he enjoyed a rousing ovation from the Indian contingent as well as foreigners. But before they action comesinto existence, here’s a look at what they really are:
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Places Where NRI Loves To Visit in India?
There are two kinds of NRI (Non Personal Indians):
- Born and brought up in Indian, then immigrated overseas for better knowledge, profession and lifestyle.
- Born in Indian but brought up outside.
The first one’s really like and Skip Indian a lot, mainly because of the remembrances linked with themselves members and child years shenanigans.
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What Should NRIs Consider When They Invest in India?
When it comes to financial planning we are very thoughtful as to where we should invest our hard earned money. We can invest in property, mutual funds, company shares, dividends or get a fixed deposit at banks, etc. But there are some taxation laws entailing investment in India may it be an NRI.
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