Skip to main content

Posts

Six Steps to Open an NRO account

An NRO (Non-Resident Ordinary) savings account is where you can maintain and manage your income earned in India such as rent, dividends, pension, etc. An NRO account can be opened in the form of a savings, current or fixed deposit account. Repatriation of funds from NRO accounts is permitted by RBI, subject to certain limits. Procedure for opening an NRO account is as follows: 1.       Options The non-resident Indian can convert his/her existing resident account in India to the NRO account or open a new NRO account. Documentary proof that the account holder is a non-resident as defined in Indian tax laws is a prerequisite for NRI accounts. 2.       Difference between NRO & NRE Account Unlike NRE accounts, interest earned on this account is taxed at the rate of 30% (plus surcharge) and other applicable taxes in India according to the ITA. In order to take the benefit of lower rates of tax as per double taxation avoidance agreement (DTAA) entered in by India, NRIs need
Recent posts

The Shekhawati Utsav Momasar

The Shekhawati UtsavMomasar is held in Momasar, a picturesque village town in the Shekhawati region, Rajasthan. Each year the village around the time of Diwali hosts the extraordinary music and arts festival, attracting thousands of people who crowd the streets, milling between the open-air stages and Havelis. This festival brings together over 200 folk artists and artisans from across seven cultural regions in Rajasthan. The objective of the festival is to conserve the indigenous music and craft forms of Rajasthan and give the artists national& global exposure and opportunities for sustained em ployment and income generation for them.  The concerts, congregations, and exhibitions are organized at unpretentious venues – a haveli (traditional mansion), an old temple of village deity and an open field next to a johad (traditional water harvesting structure). Celebrations flow through the streets and narrow by-lanes of the entire town. The festival is so structured that visitors mi

Jashn-e-Rekhta

Jashn-e-Rekhta is a three-day celebration of Urdu language, literature & cultural heritage , held annually in New Delhi to celebrate the multi-faceted nature of Urdu– its beauty and versatility. The slogan of the festival is “Celebrating Urdu” and it is attended by a huge number of Urdu lovers, especially the youth. The festival showcases not only Urdu poetry, but also Urdu literature, calligraphy workshop, performances like Ghazal,  Dastangoi , Sufi music, panel discussions & debates, Celebrity conversations, film screenings and a lot more. It also provides a platform to Urdu lovers and enthusiasts to share their poetry and stories in various open forums. Rekhta bazaar showcases artifacts, merchandise, and a book fair. Another highlight of the festival is “Aiwan-i-Zaiqa”, a curated food fiesta that offers various Indian and Middle Eastern cuisines food stalls and the Rekhta Bazaar for goods and artworks. Organized by the Rekhta Foundation, the three-day-long celebration asp

Everything an NRI needs to know about Investment Options in India

If you’re an NRI looking for investing in India but don’t know the best options, considering the returns here the following investment options for you: 1.       Fixed Deposit There are three types of FD for NRI. NRE FD, NRO FD, and FCNR FD. NRE FD is maintained in Indian rupees. No tax is applicable to NRE FD. The principal and interest earned are fully repatriable. The interest rate applicable to NRO FD is similar to FD taken by Indian residents. Tax is applicable on NRO FD. In the case of NRO FD, only interest amount can be repatriated. NRO FD can be opened for 7 days to 10 years. FCNR FD is a foreign currency FD. This type of FD can be opened by depositing income earned overseas. 2.       Real Estate NRIs can invest in both residential and commercial properties with no restrictions on the amount or size of the property. However, NRIs are not permitted to buy agricultural lands, farmhouse or plantations. However, selling of property comes with some restrictions by FEMA (Fo

Chennai Corporation Hosts Concert in City Parks!

The Chennai Corporation, along with UNESCO Creative Cities Network, launched a collective that will curate and present unique collaborative performances in parks across the city. Chennai made it to the UNESCO Creative Cities Network (UCCN) for its rich musical tradition in 2017. According to UNESCO, the goal of UCCN is to foster international cooperation among member cities committed to investing in culture and creativity for sustainable urban development, social inclusion and cultural vibrancy. The Greater Chennai corporation earlier this year in July launched the ‘concerts at the park’ initiative at Anna Tower Park. The civic body has planned to host music concerts in which both professional and amateur artists (singers and dancers) will perform every weekend. About 42 such big parks in the city have been identified that have an open amphitheater to take music closer to the residentsand as a way of encouraging Chennai’s unique art and culture in public spaces. More people will be en

Dharamshala International Film Festival

The Dharamshala International Film Festival or DIFF is held annually at Tibetan Institute of Performing Arts Kangra, in McLeod Ganj, a town with no cinemas that is best known as the exile home of the Dalai Lama. Focusing on showcasing the best of independent films from India and around the world, the festival has gained a reputation for its eclectic and adventurous programming, its beautiful mountain setting, and its intimate and cinema-literate atmosphere. DIFF attracts the finest indie filmmakers, film critics and film lovers from across the country and from abroad. This year, about 25 contemporary features and documentaries, and a selection of shorts, animation films and experimental films, meticulously curated from the best of Indian and international independent cinema will be screened over. So, film lovers, what are you waiting for? Be ready to hold Momos in one hand, cappuccinos in the other, while finding your way to screenings, Q&A’s with filmmakers, panel discussions

Odisha Opens India’s First Robotic Restaurant!

After Chennai and Bengaluru had introduced a smart restaurant with robots’ machines, now it is Odisha's smart city Bhubaneswar that has opened the first Robo Chef Restaurant in Odisha. The Robo Chef restaurant in Chandrasekharpur area of Bhubaneswar has opened its doors to customers claiming to be the first eatery in eastern India where two indigenously developed robots will serve customers. Named Champa and   Chameli , the two humanoid robots rolled on the floor, serving food to the waiting customers. The robots use SLAM (Simultaneous Localization and Mapping) technology that does not need any guided path or environment modification. The robots have 17 kinds of censors that sense the environment, heat, even smoke, identify persons, greet and welcome people. Though the robots can take orders from the customers, the restaurant owner would engage their own staff for it as it needs a human touch. The two humanoid robots costing around Rs 5.5 lakh each can work up to 8 hours once fu