NRI Club

The Mahindra Kabira Festival is to be held between 22 nd to 24 th November 2019 in Varanasi, Uttar Pradesh. The annual festival conceived by the Mahindra group and Teamwork Arts will feature a two-day program of music, literature, talks, and city explorations. In its Fourth Edition, the idea behind Kabira Festival is to feast one’s senses and spirit on the calm within the chaos of the world’s oldest city and feel that intangible “oneness amongst diversity” preached by Kabir, through the unrivaled power of music, literature and the arts. Kabira will bring to music-lovers an unforgettable experience of listening to leading exponents of the Benares Gharana and folk traditions, of Sufi music, Dadra, thumri, khayal gayaki styles, ghazals and pakhawaj and tabla players. Sessions on art and literature inspired by Kabir, especially curated walks with famous local residents playing hosts for the present, and delectable local cuisine are all integral parts of the...

NRO and NRE accounts enable an NRI to hold a rupee account and conduct transactions between foreign countries and India without too many hassles. Here’s what you need to know about the difference between these two accounts: 1.       Definition  NRO or Non-Resident Ordinary Account is an account that helps an NRI in managing the earnings from India in Indian denomination. He also has the option to open a joint NRO account with one or more NRIs or Indian citizens. NRE or Non-Resident External Account is  an account that helps you transfer your foreign earnings in India, in Indian denomination. However , an NRI can only open a joint NRE account with another NRI only. 2.       Tax Implication In NRO accounts interest is taxable under the Indian Income Tax Act. However, NRIs can take the benefit of DTAA guidelines by submitting the requisite documents. Deposits in  NRE accounts  are Tax-Free, i.e. the princip...

India's the first ropeway over the sea will zip you from Mumbai to the Elephanta Caves in 40 minutes! Yes, you read it right. Not just that, i n a little over three years, this world’s longest sea ropeway will become operational, according to officials of the Mumbai Port Trust. Elephanta The island is popular for the Elephanta Caves which is a UNESCO’s World Heritage site . Currently, people can reach the island via a one-hour long ferry ride from the Gateway of India.  Known locally as Gharapuri Caves, the small 16 sq. km island has several archaeological remains pointing to its rich cultural heritage, including the famous temples carved out of rocks. The approximately 40-minute ride by a 20-seater cable car, with a transit station midway will be quick in covering the 8kmdistance, starting from Sewri in Mumbai’s east coast and will end at Raigad district’s Elephanta Island. Additionally, the proposed ropeway will offer a magnificent view of mudflats on the east coast, which ...

Ellora-Ajanta International Festival is one of the most well-known annual festivals. It is held every year in between the months of November and March for five days in Aurangabad region of Maharashtra at the backdrop of Ellora caves. A popular historical monument, Ellora and Ajanta caves portrays the exquisiteness of Indian architecture and heritage. Ellora-Ajanta International Festivals organized by Aurangabad Tourism Foundation and Maharashtra Tourist Development Corporation. Splendid performances from some of the best-known exponents of Indian music along with dance forms that are both lavish and diverse; from classical to folk Dancing to Modern dances to instrumental and songs . The festival is known for its painting, cookery, rangoli, and other creative art competitions.  The traditional culinary delicacies of Aurangabad are also exhibited at the Ajanta Ellora Festival.  Additionally, the festival also celebrates the art & craft and handicrafts of India in the Kalagr...

The Hornbill Festival is organized by the Nagaland Government every year from 1 st to 10 th December in Nagaland, Northeast India. The festival has a great relevance to the locals of Nagaland and is one of its kind experiences for the people attending it. This festival is celebrated to encourage inter-tribal interaction and to promote unity among local masses. This year too it will start  from 1 st Decembertake place every . The festival not only showcases the tribal dances filled with positive rhythm, high spirited energy and are often warrior rituals but it is a heaven for art and craft lovers. Traditional arts& paintings, indigenous crafts, wood carvings, and sculptures are also put on display in complete pride and impressive vigor to the attendees. Notably, the festival also holds vibrant and lively night bazaar in Kohima and offers a live music concert to the attendees. So not only this festival gives taste buds a treat in the food stalls, art lovers an intimate...

Gift Tax was introduced with an objective to impose a tax on receiving and giving gifts under certain specific circumstances. With the passing of the Finance Bill 2019 in Parliament, some changes have been made in the rule regarding the taxation of gifts given by resident individuals to NRIs. Earlier, only resident Indians were paying Income Tax on Gifts received of more than Rs 50,000/- except gifts received from relatives. However, NRIs receiving gifts from other people than relative would not disclose such as income because the tax laws were worded in such a way that the onus was on the recipient to disclose such gifts and then pay the gift tax. The Budget 2019, however, has plugged this loophole and brought such gifts under the gamut of income-tax. The proposal intends to make any gifts or any money paid to another person except for specified persons mentioned in the Income Tax Act taxable if it exceeds Rs 50,000 in a financial year and NRIs will have to disclose such gifts recei...