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NDTV
10 hours ago
- Business
- NDTV
How Non-Resident Indians Can Use UPI With Foreign Mobile Numbers
UPI Payments For Foreigners: The Unified Payments Interface (UPI) has provided a platform for Indians to send and receive money online quickly and easily. The benefits can also be availed by the Non-Resident Indians (NRIs) and foreign nationals, as they can make transactions in India using their foreign mobile numbers. There's no need for an Indian SIM card. UPI is an instant payment system, developed by the National Payments Corporation of India (NPCI), that allows users to make payments in seconds. In 2023, the Reserve Bank of India (RBI) allowed access to UPI to foreign nationals and NRIs with NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts. RBI had also updated its Master Directions on Prepaid Payment Instruments (PPIs). On June 25, 2025, IDFC First Bank announced in a press release that NRI customers can make UPI payments using their international mobile numbers, without incurring any charges. "This facility is available to all IDFC FIRST Bank NRI customers from 12 countries: Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, the UAE, the UK, and the USA - for INR-denominated transactions within India," the bank said. The bank noted that NRIs can use the UPI facility even while being abroad, if the payments are for transactions within India. Such transactions do not attract any foreign exchange charges. The service is also supported by ICICI Bank, offering services for NRIs in 10 countries, including the US, UK, Canada and Australia. Managing finances without an Indian SIM card is cost-effective as the transactions are made in INR, avoiding foreign exchange fees. The process is also secure as the system has strong security features, including two-factor authentication and UPI PINs. How to Link Your International Mobile Number to UPI? Link your international mobile number with your bank account. Download a UPI-powered application that supports international mobile numbers and complete the onboarding process. The transactions need to be permitted, as per the bank's terms and conditions, UPI's official website noted. List Of Countries Whose Mobile Numbers Can Be Linked Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, United Arab Emirates, United Kingdom and United States of America. List Of UPI-Powered Applications That Support Linkage Of International Mobile Numbers: Federal Bank (FedMobile) ICICI Bank (iMobile) IndusInd Bank (BHIM Indus Pay) South Indian Bank (SIB Mirror+) AU Small Finance Bank (BHIM AU) BHIM PhonePe List Of Banks That Support Linkage Of International Mobile Numbers: AU Small Finance Bank, Axis Bank, Canara Bank, City Union Bank, DBS Bank Ltd, Equitas Small Finance Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, State Bank of India, Yes Bank. How It Works: 1. Open an NRE or NRO account with a supporting bank 2. Register your international mobile number with the bank 3. Download a UPI-enabled app and link your account 4. Create a UPI ID and set a secure PIN
News18
4 days ago
- News18
How UP Conversion Kingpin Acquired The Name 'Chhangur Baba', Twisted Followers Around His Fingers
A police intelligence source revealed that Chhangur Baba used to roam around the Haji Ali Dargah in Mumbai and look out for visitors from other religions Chhangur Baba, also known as Jalaluddin, is making headlines everywhere. Many are curious about his name, which he earned because he has six fingers on his left hand. ' Changur" is slang for 'chae ungli" (six fingers). Born in Rehra Maafi village in Balrampur district, he was originally named Jalaluddin. However, due to his six fingers, people soon started calling him 'Chhangur". When he styled himself as a Peer, he was quickly named Chhangur Baba. Born into a poor family, he was shrewd and quick to seize opportunities. He mingled with local politicians and activists, hoping to find luck and make quick money. While selling lockets and trinkets and riding from village to village on a bicycle, he tried to establish himself as a 'divine" Peer with supernatural powers. He sensed a political opportunity and dabbled in local politics. He was elected as the Gram Pradhan of Rehra Maafi village and later got his wife elected to the same post. His living conditions improved, and he started travelling to bigger cities, presenting himself as an accomplished Peer. Most of his travels were to Mumbai, as many people from rural Balrampur had migrated to Mumbai and the Gulf region for work. A police intelligence source revealed that Chhangur Baba used to roam around the Haji Ali Dargah in Mumbai and look out for visitors from other religions. It was here that he spotted Neetu Naveen Rohra, who was unable to conceive and visited various temples, shrines, and dargahs. He started giving her lockets and rings with supposed supernatural powers, promising she would soon bear a child, said the officer. Neetu, a well-educated English-speaking woman, was married to Naveen Rohra from a well-to-do Sindhi family in Mumbai. Soon, Neetu conceived and had a daughter, making the couple blind followers of Chhangur Baba. He started staying in their house during his visits to the city and eventually persuaded them to convert to Islam. The couple and their daughter travelled to Dubai and converted to Islam. Neetu was renamed Nasreen, and Naveen became Jamaluddin. Chhangur Baba has emerged as one of the biggest religious conversion masterminds operating from Balrampur in UP, with connections from Nepal to the Gulf region. He is accused of converting more than 1,500 Hindu girls and a few men to Islam through brainwashing, 'love jihad", force, and blackmail. He allegedly received over Rs 100 crore in funding from abroad and controlled dozens of bank accounts. Police sources say he was part of an international conversion racket backed by Gulf-based organisations. Not only Chhangur Baba but also his close aides Nasreen (Neetu), Naveen (Jamaluddin), and his son Mehboob received funds from abroad through NRE/NRO accounts. All four are currently under arrest. The passports of Naveen and Nasreen reveal 19 trips to Dubai, and Chhangur is believed to have travelled even more frequently, sometimes using fake passports. Police sources say preachers from Dubai visited Chhangur Baba's mansion in Madhpur, Balrampur, to train his key aides and brainwash victims. Though hailing from Rehra Maafi village, Chhangur created a new base in Madhpur village, Utraula Tehsil of Balrampur district, about 40 kilometres from the Indo-Nepal border. Here, he built a massive 40-room mansion, which served as his main base for conversions and other illegal activities. Authorities found the building illegal and demolished it with eight bulldozers. Police suspect that, apart from the conversion racket, Chhangur was also involved in anti-national activities and provided a safe house for terrorists at his Madhpur mansion. Gullible girls from Nepal were also potential conversion targets. While the UP police, ATS, and STF are investigating the case, the central agency ED has also stepped in to probe international connections and money trails. Agencies are also probing his suspected links to Pakistan's ISI. Investigators found several copies of a book called 'Shizer e Tayeeba" at Chhangur Baba's Madhpur mansion. This book is not just religious, but acts as a guide on targeting potential converts and brainwashing them. Chhangur got thousands of copies of this book printed and circulated to his followers in UP, Bihar, West Bengal, Karnataka, Tamil Nadu, and Nepal. He was also planning to print a new book aimed at discrediting the Hindu religion and its alleged malpractices, according to a police source. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
5 days ago
- Business
- News18
Bank Accounts To Taxation: Essential Financial Checklist For NRIs Returning To India
Last Updated: Let's take a look at important financial matters the NRIs must evaluate before planning their return to India. It could be emotionally overwhelming for any non-resident Indian (NRI) to return to India after spending many years in a foreign country. While planning a return to India, for the NRIs, usually the focus remains on the logistics and how to safely return to their native place. However, financial planning is just as critical an element in the whole exercise. Here is an essential checklist and a step-by-step guide you should not avoid before planning your homecoming and ensure your stay is as memorable as you envisioned it. NRE/NRO/FCNR Accounts NRE (Non-Residential External), NRO (Non-Residential Ordinary) and FCNR (Foreign Currency Non-Residential) accounts deserve your attention before you shift to India. Since your status is about to change from an NRI to a resident Indian, it is important to convert these accounts into resident accounts. Failing to do so may make you non-compliant with FEMA (Foreign Exchange Management Act) guidelines. You don't have to close your overseas bank accounts, but informing these institutions about the change in resident status is essential since banks offer different benefits to NRIs and resident customers. Educating yourself about the Income Tax Act, 1961, and the double taxation avoidance agreement (DTAA) between India and other countries could help you save more on your total tax outgo. Investments It's advisable to assess your investments thoroughly before shifting to India. If you've invested in stocks and mutual funds in India while living in a foreign country, these investments will have to be updated to resident status upon return. If you have real estate investments made abroad, it is suggested to understand the tax implications of the same on Indian shores. Those who have secured money in individual retirement accounts overseas could be liable for heavy tax if they wish to withdraw their entire corpus before moving. Consult your financial advisor about these investments. Health and Life Insurance Revisit your health and life insurance coverage plans. Consider whether it is easy to transfer these policies to India or if you may need a new insurance plan. Most health insurance providers in foreign countries don't provide services in India. Credit History Before you travel, it's advisable to get a beneficial credit card from an international bank that has a strong presence in India. Using that card will help you build and maintain a good credit history in India. Your credit history in a foreign country may not be valid in India. First Published: July 14, 2025, 18:58 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
14-07-2025
- Business
- Economic Times
Income tax guide for NRIs returning to India from abroad: Here's how to understand your tax liabilities for smoother transition
Getty Images India's tax laws classify individuals into three categories: NRI, Resident but Not Ordinarily Resident (RNOR), and Resident and Ordinarily Resident (ROR). For non-resident Indians (NRIs) who have spent years abroad, homecoming isn't just a change of address, it's a full-circle moment. There's a mix of excitement, nostalgia, hope, and even a bit of nervous anticipation. One isn't just relocating, but rediscovering. Your relatives may welcome you with open arms, but the Income Tax Department greets you with Form 26AS and a fresh set of tax rules. If you're planning to settle in India, understanding how your tax residency status changes—and what that means for your income—is as important as getting your shipping container through customs. Contrary to the notion that NRIs' entire global income becomes taxable the moment they return to India, the tax liability here in fact is determined primarily by the number of days they've been physically present in the country during the concerned financial year. India's tax laws classify individuals into three categories: NRI, Resident but Not Ordinarily Resident (RNOR), and Resident and Ordinarily Resident (ROR). Take the example of Aryan. After a 12-year stint in the US, he permanently returns to India at the start of July. As he'll spend over 182 days here in the year 2025-26, he'll be classified as a resident for the fiscal. But it doesn't mean all his overseas income—like interest on his US savings or rent from a property in New York—becomes taxable here right virtue of being a non-resident during nine of the last 10 years or spending less than 730 days in India over the last seven years, Aryan qualifies for the transitional status of RNOR which gives him temporary tax individually, the RNOR tag keeps one's foreign income outside India's tax net for 2-3 years. For many returning NRIs, this window offers a chance to reorganise once the RNOR window expires, Aryan will transition to ROR status. His income from anywhere in the world—including rent from overseas property, dividends from foreign stocks, interest earned in offshore accounts, gains from selling cryptocurrency or US-based ETFs—becomes taxable in India. Liabilities and exemptions on landing Aim for a smooth transition So, as an NRI, how can you have a smoother tax transition? A few smart strategies while planning your homecoming can go a long way a. Preserve NRE and FCNR accounts Interest on foreign currency non-resident (FCNR) deposits is tax-free until maturity, even after you become an ROR. Non-resident external (NRE) interest is exempt only while you are an RNOR. You may retain these accounts after returning, for a while. Plan withdrawals and maturities accordingly. b. Disclose foreign assets On becoming an ROR, you must report all foreign assets (FA) and income in the Schedule FA part of the Indian tax return. Nondisclosure can attract steep penalties under the country's Black Money Act. c. Use DTAA Benefits India has tax treaties with over 90 countries. Say, you receive a pension from Canada or dividends from US stocks, you can avoid double taxation as treaties with these nations let you claim credit for taxes already paid abroad. d. Time your return strategically If you return after 2 October, your stay for that fiscal remains under 182 days, enabling you to retain NRI status for one more year. e. Plan property sales after your return If you plan to sell your property in India, wait until after you return and become a resident. If you're an NRI, the buyer must deduct TDS at 20% on the sale value. For residents, it is 1%. f. Mind your foreign retirement accounts Many NRIs return with retirement assets, like a 401(k), UK pension, or Gulf EPF. While these remain tax-deferred in their country of origin, once you become an ROR, any withdrawal— even if retained abroad—may face taxes here. Consider staggered withdrawals, DTAA application, or repatriation planning. g. ESOPs and RSUs If you have unvested stock options or restricted stock units (RSUs)—such as employee stock ownership plans (ESOPs) awarded on the basis of fulfilment of certain conditions in future from your previous foreign employer— tread carefully. If they vest or are exercised after becoming ROR, the gains—whether cash or notional—will be taxable in India. h. Choosing old or new tax regime Upon return, you'll have to choose between the old tax regime (with exemptions like 80C, 80D, home loan benefits) or the new tax regime (lower rates, no deductions). RNORs may pick either. If you have NPS, insurance, or housing loan deductions, the old regime may be beneficial. Evaluate year-by-year. i. What to know about ITR filing For the fiscal of your return, filing needs will depend on residential status and income: If you're an RNOR and your Indian income exceeds `4 lakh, filing ITR is mandatory. If you're still an NRI (i.e., stayed less than 182 days) with only exempt NRE/FCNR interest, you may not need to file ITR. Once you turn ROR, you must file ITR and report all global income and foreign assets. In most cases, ITR-2 is the correct form for returning NRIs with foreign income or assets. Review your AIS carefully before filing and seek guidance if any foreign income appears. So, as you plan your homecoming, don't forget to pack your tax strategy along with your memories. The Author is FOUNDER, TAXAARAM INDIA AND PARTNER, SM MOHANKA & ASSOCIATES (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of
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Business Standard
08-07-2025
- Business
- Business Standard
Exemption limits, forms: Income Tax rule changes for NRIs this year
Non-resident Indians (NRIs) need to pay attention to changes in filing Income Tax returns (ITR) this year, including a higher threshold for capital gains tax and asset disclosures. Who is as NRI According to the Income-Tax Department, an individual's residential status is the first factor in determining tax liability. If a person has spent less than 182 days in India in a financial year, she is typically considered a non-resident and taxed accordingly. Higher threshold for reporting assets Previously, individuals filing a form called ITR-2 had to disclose assets and liabilities if their total income exceeded Rs 50 lakh. This threshold has now been increased to Rs 1 crore, offering relief to many NRIs. Naveen Wadhwa, vice-president at Taxmann, said that 'NRIs using ITR-2 are still required to report their Indian assets and liabilities if they cross this new limit. Foreign assets are not reportable for NRIs in ITR-2.' Capital gains split by transaction date Wadhwa explained that from July 23 last year, India's capital gains tax regime has changed. Older tax rates apply for transactions before that date, and revised ones later. The new ITR-2 allows taxpayers to report capital gains separately for both periods, simplifying compliance for NRIs. Deductions, exemptions NRIs can claim deductions under Sections 80C and 80D and enjoy exemptions on interest earned from NRE and FCNR accounts, according to Vishwanathan Iyer, senior associate professor - finance & accreditation at Great Lakes Institute of Management, Chennai. They can avail of tax relief under Double Taxation Avoidance Agreements by submitting a Tax Residency Certificate (TRC) and Form 10F to Indian payers. Common mistakes by NRIs in ITR filing S R Patnaik, partner and head of taxation at law firm Cyril Amarchand Mangaldas, said that NRIs often misclassify their residential status or forget to update banks and mutual funds about their NRI status. 'Timely filing of TRC and Form 10F is crucial to claim lower TDS rates and avoid discrepancies in Form 26AS,' he added. 'They also tend to use the wrong ITR form or misreporting Indian income such as interest earned in NRO accounts,' said Amit Bansal, partner at Singhania & Co, a global legal consultancy firm. He advised NRIs to maintain travel records, inform Income-Tax Department promptly, and consult a professional to ensure correct classification and filing. Foreign income and reporting: What's mandatory? 'If you're an NRI for tax purposes, your foreign income is not taxable in India,' Patnaik said. 'Also, unlike residents, NRIs are not mandated to disclose foreign bank accounts or assets under Schedule FA. However, they may do so voluntarily.' What NRIs should do -Check if their taxable Indian income exceeds Rs 2.5 lakh annually. They have to file tax return if it does. -Ensure all documents, including TRC and Form 10F, are ready. -Verify if you fall under the new capital gains tax slabs based on your transaction dates.
