‘Money’ Archives
401(K) and IRA – should expats invest in retirement plans?
Many overseas Indians and expats settled in the United States of America face a common dilemma – should they invest in a 401(K) plan or an IRA (Individual Retirement Account). The confusion is more prominent among non-US citizens or those without permanent residence [Read More]
Tax identity scam on rise in Australia
Australian tax payers should be aware of scams designed to extract tax file numbers for the purpose of identity fraud. This could leave their bank accounts empty and credit files ineffective for up to five years, says an Australian credit information expert. Director of [Read More]
India’s tax officials to review all property deals
With the growing pressure to tackle the black money issue, India’s income tax officials have aimed their guns at the country’s biggest source of black money – property. Under scanner will be the real estate deals likely undertaken in the 2010-11 year. [Read More]
India’s Aurobindo Pharma receives USFDA approval
Aurobindo Pharma Limited has received tentative approval from the US Food & Drug Administration to make and sell Venlafaxine Hydrochloride Extended-release These capsules are indicated for the treatment of major depressive disorder (MDD) and falls under the Neurological [Read More]
RBI simplifies rules for investing in property in India
The Reserve Bank of India (RBI) has relaxed norms and issued simple guidelines for the convenience of NRIs and PIOs wishing to invest in Indian real estate under the provisions of the Foreign Exchange Management Act, 1999. This is a good news for Non-Resident Indians (NRIs) [Read More]
Unsecured loans: without delay and documents
Unsecured loans are highly sought after in this recessionary economic climate. Unsecured loans are more popular than secured loans because you don’t need any property to get an unsecured loan. You don’t need to give any documents. In many cases, you can easily [Read More]
Can NRIs inherit agriculture land?
Manoj Mohapatra* lives in the United States. He is a US citizen with OCI card (Overseas Citizen of India). His parents own an agricultural piece of land in Andhra Pradesh in India. They are keen to give this land to Manoj. However, Manoj is not sure whether he can inherit [Read More]
What are the rules for buying property in India?
NRIs have continued to buy and sell houses in India despite the global economic crisis in the recent years. In fact, NRIs have used the gloomy global scenario to their advantage to secure bargain properties in India. As India Inc continues its success story, and while the [Read More]
NRIs can buy property in India
With India’s booming property market, and improving job prospects, many NRIs are keen to buy a house or commercial property in India, and become part of India’s success story. As per RBI rules, NRIs or persons of Indian origin (PIO) are permitted to buy and sell [Read More]
What are tax rates on bank interest for NRIs?
Mrunal Paranjape* lives in the United States and invests her money in Mumbai in India. These are investments in bank deposits in India. However, her bank is deducting TDS (Tax Deducted at Source) which is very high. She is also keen to expand her portfolio and diversify [Read More]
