NRE Account stands for Non-Resident External Account and is one of the 3 forms of NRI Bank Accounts in India. Recommended Read: 3 Forms of NRI Bank Accounts in India NRE Account can be opened either in the form of...

With Interest rates on Fixed Deposits in India being significantly higher as compared to the Interest rates in the western countries, many NRI’s invest their surplus funds in fixed deposits in India through the 3 eligible forms of Bank Accounts...

With a large chunk of Wealthy Indians preferring to settle outside India, there is immense capital in the pockets of these NRI’s. The NRI Community is one of the richest communities of Expats in the World. With NRI’s growing in...

NRI Community is one of the richest communities of expats in the World. The presence of NRI’s is omnipresent across the globe and they have also been able to garner a sizeable portion of the wealth. These NRI’s may be...

The Indian Govt is very friendly to senior citizens in financial matters and not only gives benefit of higher tax slabs to senior citizens but also gives them extra interest on govt deposits. One such deposit scheme of the Indian...

Income Tax Rebate under Section 87A is allowed as per the following schedule for different Financial Years Financial Year Amount of Rebate Applicable only if Income is less than 2018-19 Rs. 2,500 Rs. 3.5 Lakhs 2019-20 Rs. 12,500 Rs. 5...

Budget 2016 Update: 1% additional tax on cars costing above Rs 10 lakh. 1% infra cess will be levied on small petrol cars. A 2.5% infra cess will be imposed on diesel cars. 4% additional levy will be imposed on high-capacity...

At the time of retirement of an employee, the employer pays the employee a certain amount regularly in consideration of his past service. This periodic payment is paid by the employer to his employee is referred to as Pension. After...

Budget 2016 Update: The limit has been increased from Rs. 24,000 p.a. to Rs. 60,000 p.a. This Section has been explained below in detail. Section 80GG provides for Deductions for House Rent paid, provided that a deduction for payment of...

Section 80DD & Section 80U deal with income tax deductions for individuals and their family members with disabilities. Deduction under Section 80U is provided in case the individual is himself disabled and Deduction under Section 80DD is provided in case...