Author: Dhaval Jasani (Dhaval Jasani)

In case of sale of property by an NRI, the buyer is obliged to withhold tax at source from sale consideration, termed as TDS (Tax Deducted at Source) based on the applicable rates and remit this TDS to the department under the tax account of the seller

FIIs, NRIs, and Persons of Indian Origin (PIOs) are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme

While it is not mandatory for all NRIs to have a PAN, those who have a source of income in India need to have a PAN to file their income tax return and pay taxes that are due

The Reserve Bank of India (RBI) allows NRIs to remit up to $1 million per financial year (from April to March) from the NRO account