Table of Contents
Why should I move to India?
Pros of moving to India: Children see a different world – can make them have a more global outlook and be more charitable. Help at home – allows you to do more and have better vacations. Travel more in and around India – amazing places are 2-3hr flight away – Sri Lanka to Dubai to Macau and rest of Asia.
What happens to NRE account after returning to India?
After returning to India, you will have the RNOR (Resident but not Ordinarily Resident) Status. The NRE Deposits need not be converted to resident accounts after your return to India. They can remain as-is till maturity.
What are the tax implications for NRIs returning back to India?
Returning NRIs can save tax on their overseas income through their Residential Status until a period of 3 years after return. You may be curious to know more about that. This article is an attempt to clarify the tax implications for NRIs returning back to India.
What is the difference between NRI status and rnor status?
Your NRI status after returning to India will be deemed as RNOR status for 2 years and then eventually when the conditions for RNOR status is not satisfied, your residential status will become a ROR (Ordinary Resident). However, taxability of an NRI and RNOR are the same.
What are the biggest concerns of non-resident Indians returning to India?
It turns out that some of the biggest concerns that non-resident Indians have about returning are a dearth of medical facilities and a lack of knowledge about living situations in urban India. Many of these are complete myth, according to Samta.
Is it easy to return to India (R2I)?
Returning to India (R2I) is not a simple task. There is a lot of thinking and decisions to be made before you come to a conclusion. Also, a lot of facts have to be kept in mind before you move back. Things may not be as similar as it was when you left the country.