30 May 2014 - Wealth18.com

ICICI Bank Young Stars Account is a Bank account for children in the age group of 1 day - 18 years. Features Free Young Stars ATM cum Debit Card - issued only on request and if your child is above 7 years of age. You can choose limit of daily card of Rs. 1,000 / Rs. 2,500 / Rs. 5,000 per day Special Internet Banking Standing Instructions Facility for automatic transfer money from parent's account to child's account Investment Features To promote investment habits in child, ICICI Young Star account also offers Money Multiplier facility Recurring Deposit facility - to transfer funds to a recurring deposit for a fixed period. Normal Banking Features SMS alert Facility Anywhere Banking Free multi-city chequebook Free Email Statement facility Standing instructions...

Many NRIs are not aware that the he concept of "Non-resident" is different under Income Tax Act & under FEMA. Under Income Tax Act, the status depends on the actual number of days for which one stays in India. A person is Resident in India 1) if he is in India for more than 182 days during the fiscal, beginning 1 April and ending 31 March. OR 2) If he is in India for 60 days or more during the year and 365 days or more during the earlier 4 fiscals. If you fulfil both these conditions, you are regarded as a tax resident of India, though you have been in India for less than 182 days. There are two relaxations available from this period of 60 days, which provide relief to many NRIs, preventing them from becoming tax residents of India.The 60 days clause will be replaced by 182 days in...

Day: 30 May 2014

ICICI Young Stars Savings Account – Review & Details

Check if you are Resident or Non Resident under Income Tax Act ?