Blogs on NRO Account

The blog explains the tax implications for NRIs using an NRO (Non-Resident Ordinary) account in India, including the types of income taxed, the applicable tax rates, and how NRIs can benefit from the Double Taxation Avoidance Agreement (DTAA) to claim tax credits in their country of residence.

The blog explains the implications of a dishonoured cheque, including potential legal consequences, penalties, and alternatives to avoid such issues. It outlines the reasons cheques might bounce, the legal repercussions for the issuer, and practical tips for avoiding dishonour charges through digital banking and proper cheque management.

The blog explains that a Non-Resident Ordinary (NRO) Account is designed for Non-Resident Indians (NRIs) to manage income earned in India, such as rent and dividends, allowing deposits in both Indian and foreign currencies but only permitting withdrawals in Indian currency. It highlights the account's features, eligibility criteria, and taxation details.