According to the Income-tax Act, interest earned from an NRE account remains tax-exempt for an individual until they qualify as a person resident outside India (PROI) under the Foreign Exchange Management Act, 1999 (FEMA), or are permitted by the RBI to maintain the account. Under FEMA, a person resident in India (PRII) refers to someone residing in India for over 182 days during the preceding financial year, excluding those abroad for employment, business, or an uncertain period, or those residing in India for other purposes. Those not meeting the PRII criteria are considered PROIs. Addition ..read more

Embarking on strategic cross-border investments and exploring international retirement plans can significantly enhance the diversification of your portfolio while potentially bolstering your retirement funds. Here’s a comprehensive guide to optimising International Retirement investment options and navigating this path effectively. 1. Assess Your Position Citizenship and Residency: Your citizenship and residency status are pivotal in determining the array of international investment avenues available to you and your tax obligations in different jurisdictions. Risk Appetite: Understanding your ..read more

Exciting news for India and its global community! The country’s foreign exchange/forex reserves have soared by $4 billion to reach a staggering $620 billion in the week ending December 22, as per the Reserve Bank of India’s latest data released on Friday. With an impressive addition of $57.59 billion this calendar year, the central bank continues to fortify its reserves, showcasing resilience and stability. The recent surge in total reserves is attributed primarily to a substantial $4.6 billion increment in foreign currency assets. Last week’s uptick propelled reserves to $616 billion, marking ..read more

To give you an idea of mutual funds hidden charges, here’s a little anology. When you rent an apartment, you may think that the rent you pay is the only cost for your rented residence. But then you pay the estate agent’s commission. You quickly realise that you also have to pay for society maintenance and the parking space for your vehicle. You reluctantly have to pay the ‘chanda’ or contribution that the housing society collects from everyone to celebrate various festivals and national holidays, even though you may not participate in them. You have to give ‘baksheesh’ to the cleaner on Diwali ..read more

The equity market, often referred to as the equity market, presents rewarding but risky chances for wealth accumulation and investment. The best stock trading apps in India are those that are dependable and easy to use to successfully navigate the dynamic environment. These trading apps, which provide users access to the market, let them execute trades, analyze data, and manage portfolios. Today they have evolved into essential tools for stock trading. The top ten stock trading apps in India are examined in this post, along with their features, advantages, and suitability for various investo ..read more

Mostly, NRIs are asking one of these two questions – “What are the best NRI investment opportunities in India?” or “Where to invest in India in the new financial year?” Rather, the question should start with - “What are my financial goals and how can I achieve them with the right investment in India?” Being a developing country with a strong economy and robust growth, India presents dynamic opportunities for NRIs who are seeking investment options. Capitalising on this momentum is a great opportunity to grow your investments and potentially secure your future, especially if you plan to ..read more

Gold’s trajectory remains upward, with projections hinting at a potential surge of gold prices in 2024 to ₹70,000 per 10 grams, reflecting a continued ascent from the ₹63,060 mark on the MCX commodity stock exchange on 31st December 2023. Expert analyses anticipate this rise in gold prices in 2024 is driven by various factors including a stable rupee, geopolitical uncertainties, and a global economic slowdown. This anticipated surge aligns with the metal’s remarkable performance in recent times. With the metal currently hovering around $2,058 per ounce internationally and showing stability abo ..read more

With the US dollar decline, mostly in the fourth quarter of 2023, it is on the verge of its most challenging year since the pandemic’s emergence, with Wall Street foreseeing a potential decline due to the Federal Reserve’s likely decision to reduce interest rates after effectively managing inflation. Steady US Dollar Decline Following oscillations caused by premature predictions signalling the conclusion of the Fed’s rate hike policies, a Bloomberg index reflecting the dollar’s strength has declined by almost 3% since January, marking the most significant annual dip for the currency since 2020 ..read more

Wealth erosion is a silent but relentless force that can chip away at our financial security. It’s the gradual or sudden depletion of one’s assets and financial stability due to various factors such as critical illness, disability, untimely death, inflation, and taxes. Imagine it as the erosion of a cliff over time or a landslide due to constant exposure to elements – it may not be immediately noticeable, but its impact can be profound. Factors Contributing to Personal Wealth Erosion 1. Critical Illness: Critical illnesses can strike unexpectedly, causing immense financial strain. Medical expe ..read more