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India is an agro-based country since approximately 70% of its population earns bread and butter through farming. But farming is not the only composition of agricultural income. There are many associated works that generate income, like renting out the agro-land. This facility is available for the natives of India. But an NRI can’t invest in the purchase of agriculture land or farm house in India.
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NRIs Need PAN No. for These Transactions besides Tax Payment
Do you think PAN card is required for tax payment only? Indeed, it should be provided at the time of tax payment. But there are certain more arenas where this unique number is mandatory requirement for emigrants, like NRIs.
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PAN Card Not Mandatory to Pay Tax by NRIs, OCIs & PIOs
NRIs, PIOs and OCIs are battling to swap junked currency after demonetization. Now, Reserve Bank of India (RBI) has given a new lease to them. The date to swap outdated currency has been extended upto 30th June, 2017. By showing their valid identity & source proofs along with the letter/form of authority, they can easily exchange the defunct notes at any branch of RBI.
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