Question 1

Can returning NRIs keep their foreign bank accounts, property, and investments after moving back to India?

Accepted Answer

Yes — under FEMA Section 6(4), assets legitimately acquired while you were a non-resident (foreign accounts, property, stocks, 401k/IRA) can be retained without RBI approval after you return. You do need to convert NRE/NRO accounts to resident accounts within about 6 months and disclose foreign assets once you become an ROR.

Question 2

If I remain in India for fewer than 182 days in a financial year and keep Indian income below 15 lakhs, can I regain NRI status?

Accepted Answer

Yes — under the amended residency rules, spending fewer than 182 days in India in a financial year (with Indian-sourced income below Rs 15 lakh) generally preserves NRI status, but the calculation has exceptions for citizens/PIOs visiting India. This should always be verified with a CA before relying on it for a specific year.

Question 3

What is DTAA and how do returning NRIs avoid double taxation on foreign income?

Accepted Answer

DTAA (Double Taxation Avoidance Agreement) lets you claim credit in India for tax already paid abroad on the same income, using a Tax Residency Certificate, Form 10F, and Form 67 filed with your Indian return. Skipping Form 67 is the most common mistake that causes returnees to lose this credit.

Question 4

How soon after returning to India do I need to convert my NRE/NRO accounts to resident accounts?

Accepted Answer

FEMA doesn't set a hard deadline but expects conversion 'within a reasonable time' — in practice, most CAs recommend converting within 3-6 months of your return, since NRE account interest becomes taxable from your very first day back regardless of when you formally redesignate the account.

Question 5

Will I owe Canadian departure tax?

Accepted Answer

Possibly. CRA residency departure can trigger deemed disposition/departure tax on many assets, while some registered accounts have separate treatment. Review property, non-registered investments, RRSP/TFSA, spouse/dependents, and date of non-residence before leaving Canada.

Question 6

Why not just leave it in the 401k account?

Accepted Answer

Leaving a 401(k) in the US can work if fees, investment options, custodian access, RMDs, beneficiary setup, and ongoing US tax filing stay manageable. Rolling to an IRA can increase control but changes account rules—compare both with a cross-border advisor before you move money.

Question 7

Anyone who planned their move back to India over a period of a year or two? what is the most tax efficient way to do this.

Accepted Answer

Over a 1–2 year runway, start with your residency calendar—not investment products. Map your current-country exit date, India RNOR/ROR timing, retirement-account rules, brokerage gains, property sale timing, and bank account status before moving money. Then have a cross-border CA/CPA validate the sequence before any transaction.

Question 8

Can I claim tax credit for the tax paid in Thailand under DTAA?

Accepted Answer

Foreign tax credit is not automatic. India Form 67 is used when claiming credit for foreign tax paid—you need treaty position, income classification, proof of tax paid, and correct filing timeline. Our tax filing team can map this.

Question 9

Do I need to declare these remittances in ITR as income and pay taxes on it?

Accepted Answer

A remittance is not automatically income. The tax question is what generated the money and whether that income is taxable in India for your residential status.

Question 10

I already pay tax in the US or UK. How should DTAA and Form 67 be handled in the India return?

Accepted Answer

DTAA relief is claim-based, not automatic. Gather foreign tax return, tax-payment proof, income mapping, treaty article position, and Form 67 details before filing the India return.

Question 11

Indian tax filing for NRIs

Accepted Answer

NRIs file on Indian-source income: stock and mutual-fund gains, rental income, NRO interest, business income, or refund claims. Selling Indian stocks usually needs capital-gains reporting. Our India tax filing service handles status, form choice, and TDS reconciliation.

Question 12

Which ITR do I need to file? ITR-1 or ITR-2?

Accepted Answer

ITR form choice depends on residential status and income type. NRI/RNOR cases with capital gains, foreign income, foreign tax credit, or foreign assets often move beyond ITR-1.

Question 13

Do i need NRE/NRO account if i am moving back India after ...

Accepted Answer

If you are still non-resident before the return, NRE/NRO accounts can help route foreign income and India income correctly. After returning for good, those accounts generally need redesignation or transfer to resident/RFC routes. The planning mistake is opening or ignoring accounts without checking the date your FEMA residential status changes.

Question 14

In case I am allowed to maintain NRE account under statement A, do I need to pay taxes for NRE account?

Accepted Answer

Do not decide tax from the account label alone. Once residential status changes, NRE/RFC/resident redesignation and interest taxability need review together. The correct answer depends on FEMA status, income-tax status, account conversion timing, and whether the balance moves to RFC or resident rupee account.

Question 15

What are the required steps for NRE/NRO accounts once an NRI becomes a resident in India under FEMA?

Accepted Answer

RBI guidance says NRE accounts should be designated as resident accounts or moved to RFC accounts immediately when the holder returns to India for employment or residential-status change. NRO accounts may be designated resident accounts when the holder returns with intention to stay for an uncertain period. Do this with the bank before interest, KYC, and tax reporting drift out of sync.

Question 16

Do I pay taxes twice when I sell inherited property in India?

Accepted Answer

You may face tax in more than one country, but double taxation is not automatic. It depends on residency, treaty position, capital-gains rules, and foreign tax credit. Keep sale documents, cost basis, and tax paid proof—then map credit with a cross-border CA before you file.

Question 17

This may be a really stupid question, but why do most of you use 3rd party(like xoom, remitely etc) money transfer services? Why not directly wire transfer from your bank account to NRE/NRO account in India?

Accepted Answer

Third-party remitters can be faster and sometimes cheaper for smaller transfers, but bank wires can be cleaner for large transfers and documentation. The real comparison is exchange spread, compliance support, receipt quality, limits, and destination account type. High-value relocation transfers should optimize proof trail as much as rate.

Question 18

RNOR status for returning US NRI

Accepted Answer

India RNOR and US tax residency are separate. India may treat foreign income differently during RNOR, but US citizens and many US tax residents still have US filing and reporting duties. Calculate your India status first with the RNOR tool, then work through 401(k), IRA, brokerage, and RSU questions with a cross-border tax advisor.

Question 19

Do I have to file Schedule FA while in RNOR status?

Accepted Answer

Per ITR instructions, Schedule FA is generally for residents with foreign assets/income. No need to report them during RNOR. Consult with your CA

Question 20

how many years of RNOR do i actually get after moving back to india? everyone is telling me something different

Accepted Answer

RNOR follows Income-tax Act day-count tests. You are RNOR if you were non-resident in 9 of the prior 10 years, or were in India 729 days or less in the prior 7 years. Many returnees get roughly 2–3 financial years, but your exact outcome depends on arrival date and past India days. Use our RNOR calculator with your real travel history.

Question 21

I'm returning soon. When should I sell my foreign investments?

Accepted Answer

Many returnees consider selling appreciated foreign assets during the RNOR window to keep those gains out of Indian tax, but US/UK/Canada tax still applies. Plan with a cross-border CA before any sale.

Question 22

My bank says resident but my CA says NRI. Who's right?

Accepted Answer

Both can be correct. Your bank follows FEMA; your CA follows Income Tax Act day-count tests. They can differ in the same year. For a definitive read on your filing position, connect with our tax experts.

Question 23

Do I still need to file an Indian ITR after returning?

Accepted Answer

Quite likely, especially once you have Indian income or become a resident. Filing also keeps a clean record for refunds and future compliance.

Question 24

Is US Social Security taxable in India after returning?

Accepted Answer

Do not answer from the benefit label alone. India tax depends on your residential status, benefit year, treaty position, and how the payment is received and reported. Keep SSA notices, tax forms, and bank records together.

Question 25

Can I pay before the team checks my exact case?

Accepted Answer

Yes. Use the payment path when you want to start directly. Use talk-first when residential status, foreign assets, notices, or filing scope needs review before payment.

Question 26

Do I need this if TDS is already deducted in India?

Accepted Answer

Possibly. TDS does not always complete the filing obligation, and it may not handle refunds, capital gains, DTAA claims, foreign asset disclosure, or residential-status issues.

Question 27

I returned to India recently. Does RNOR matter for filing?

Accepted Answer

Yes. RNOR can change how foreign income and foreign assets are treated, so it should be checked before the return is prepared.

Question 28

Do foreign accounts need to be disclosed?

Accepted Answer

Disclosure depends on your Indian residential status and facts. Once disclosure applies, missing a foreign account or asset can create serious filing risk.

Question 29

What happens after I submit the form?

Accepted Answer

The team reviews the information, confirms the exact document request, and sends the payment or filing next step based on your case.

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