Understanding your NRI Status and its impact

The full form of NRI is Non-Resident Indian. Understanding the meaning of NRI is essential, as this status impacts lifestyle, taxation, banking, and investments in India. As an NRI, you gain access to special NRI bank accounts that help you save, invest, and manage income efficiently in India.

In this blog, we will discuss how being an NRI impacts your financial planning, the benefits of being an NRI, and the tax implications applicable to NRIs under the Income Tax Act, 1961 and FEMA regulations.