Non-Resident Indians (NRIs) can utilize NRO fixed deposits to park Indian income, earning attractive interest rates up to 6.75% from banks like Bank of Baroda. Investors must consider tax implications, including TDS, and leverage Double Taxation Avoidance Agreements (DTAA) to maximize returns.
ET Wealth readers ask about EPF withdrawal tax implications and investment strategies. Experts advise on tax-free withdrawals after 5 years of service, suggest equity and debt fund allocations for reinvestment, and caution against transferring to NPS due to lower tax exemption.
Indians exchanging old gold for new should be aware of potential taxes on sales and purchases. The Income Tax Department monitors high-value gold transactions, including large cash deposits or unexplained sources of funds. Proper documentation is crucial to avoid scrutiny and penalties, especially when dealing with inherited, gifted, or imported gold.
