The Latest Breaking News from NRE

Salary from South Korean employer credited to NRE account triggers income tax notice; ITAT Bangalore gives employee relief

Employee gets income tax notice over salary received in NRE account from South Korean employer; ITAT Bangalore gives him relief. Know what NRIs should note if they get money in their NRE account.

The Economic Times · 16h ago

My NRI status changed. Will interest earned on my NRE FDs be taxable in India?

ET Wealth reader's query: I was an NRI until FY2024–25. After relocating to India, my residential status changed to ‘resident’ from FY2025–26. While I was an NRI, I invested in fixed deposits through my NRE account, and these deposits are due to mature in FY27. Will the interest earned on…

The Economic Times · Sep 29

Rs 1.09 crore remittance sent home by an Indian working in Kuwait, but he didn't file ITR, received income tax notice; gets relief in ITAT Ahmedabad

Indian man working in Kuwait oilfields, got his salary in National Bank of Kuwait, remitted Rs 1.09 crore back to family in India, files no ITR, got an unexplained money tax notice u/s 69; he partially wins case in ITAT Ahmedabad

The Economic Times · Sep 10

NRI used NRE account to buy Rs 79 lakh property, got ‘unexplained cash’ tax notice; ITAT Ahmedabad grants full relief

NRI used money from his NRE bank a/c to buy property for Rs 79 lakh, files no ITR; tax dept sent notice for unexplained cash; he wins case in ITAT Ahmedabad

The Economic Times · Aug 14

NRI selling property in India: Should sale proceeds go to an NRE or NRO account? Know repatriation limits and RBI rules

Are you an NRI looking to sell your property in India after relocating abroad? It's essential to understand the process of repatriating your funds. Discover the differences between NRE and NRO accounts, along with FEMA regulations and repatriation limits. Selecting the right bank account is critical for ensuring a hassle-free…

The Economic Times · Aug 12

FCNR (B) vs NRE 5-year FD: Which can give higher maturity on $50,000 investment? Know currency risk

FCNR(B) vs NRE currency risk: FCNR(B) and NRE deposits offer distinct investment avenues for non-resident Indians. FCNR(B) deposits provide currency protection, while NRE deposits carry exchange rate risk. Calculations show NRE deposits can yield higher returns if the rupee strengthens. However, the rupee has historically depreciated against the US dollar.…

The Economic Times · Jul 23

ETMarkets Smart Talk | Selling property in India? Here's how NRIs can avoid excess TDS: Trilegal's Himanshu Sinha

NRIs face complex tax rules when selling Indian property, often leading to excess tax deductions. Obtaining a Lower TDS certificate can prevent over-withholding on sale consideration. Understanding capital gains tax and available exemptions is crucial for maximizing returns. Recent changes have altered capital gains taxation for equities and debt funds.…

The Economic Times · Jul 13

How NRIs, OCIs may benefit as RBI allows banks to offer higher interest rates on certain FCNRs, NREs

The Reserve Bank of India has temporarily lifted interest rate restrictions on certain NRE and FCNR(B) deposits until September 30, 2026. This move aims to attract foreign currency inflows by allowing banks to offer higher rates on these deposits, benefiting Non-Resident Indians planning to open or renew them.

The Economic Times · Jun 17

Hong Kong-based son gets tax notice after father buys insurance policy in his name with cash; he fights back and wins case in ITAT Mumbai

An NRI in Hong Kong faced an income tax dispute after withdrawing cash from his NRE account to give to his father. The father used this money to buy an insurance policy in his son's name, leading to an 'unexplained cash credit' notice. ITAT Mumbai ultimately ruled in favor of…

The Economic Times · Jun 5

How we found criminal trials where Ohio prosecutors acted improperly

In a two-year investigation, we built a dataset of some 450 claims of prosecutorial misconduct by analyzing thousands of pages of appellate decisions from 2018 to 2021. Detailed here is how we did it.

WEKU · Dec 15, 2023