Blog

NRI Master Checklist

NRI Master Checklist

NRI Master Checklist

50 Zaroori Kaam Jo Har NRI Ko Karne Chahiye

Bank • Income Tax • IT Portal • Power of Attorney • Aadhaar • DTAA


HOW TO USE THIS CHECKLIST

1. Go through each section in order — each covers one area of your NRI life

2. Tick each checkbox as you complete the action

3. Refer to the "Documents needed" box before starting each section

4. Use the Self-Assessment on the last page to measure your progress

5. If any item is unclear — WhatsApp CA Dhiraj: +91 70200 45454

1 Bank Account & Demat
Savings, FD, RD, Demat — sab convert karo

1. Inform bank of NRI status change via email or branch visit

Subject line: 'Request for NRO conversion — NRI status change'

2. Convert savings account to NRO account

Non-Resident Ordinary — for India-sourced income (rent, interest, dividends)

3. Open NRE account for bringing foreign earnings to India

Non-Resident External — tax-free, freely repatriable

4. Convert all Fixed Deposits to NRO FDs

TDS changes from 10% (resident) to 31.2% (NRI) — verify with bank

5. Convert Recurring Deposits to NRO format

RDs also fall under FEMA — same conversion required

6. Verify correct TDS rate (31.2%) is being applied going forward

Check each FD certificate — request revised TDS certificate if needed

7. Cancel standing instructions or auto-debits on old resident account

Especially SIP payments — these must now debit from NRO/NRE

8. Stop all trading on existing resident Demat account immediately

Every trade as NRI on resident Demat = separate FEMA violation

9. Open new NRI Demat account with a SEBI-registered broker

Major brokers: Zerodha, HDFC Securities, ICICI Direct — all offer NRI Demat

10. Open PIS (Portfolio Investment Scheme) account linked to NRO

RBI permission required — routes all secondary market trades legally

11. Update Mutual Fund KYC to NRI status at all AMCs

Submit updated KYC form separately at each AMC — one form does not cover all

12. US/Canada NRIs: check FATCA compliance with each AMC before next SIP

Many Indian AMCs do not accept US/Canada NRI investments due to FATCA


Documents needed:

  • Passport (valid) + current visa / work permit
  • Foreign address proof — utility bill or bank statement (last 3 months)
  • Indian PAN card
  • FATCA self-certification form (US/Canada NRIs)

    2. Income Tax Status

PAN same — status update zaroori hai

13. PAN stays the same — no change required for PAN

Only your residential status changes, not the PAN number itself

14. Calculate days in India for each FY since leaving — 182-day rule applies

Less than 182 days in India = Non-Resident for that financial year

15. Log in to incometax.gov.in ® Profile ® Update Residential Status

Must be updated before filing ITR for the relevant year

16. Stop submitting Form 15G or Form 15H to any bank immediately

These forms are for residents only — NRI submitting them = false declaration

17. Inform all banks to apply NRI TDS rates going forward

TDS at 30% on interest, 20% on capital gains (unless DTAA applies)

18. Check residential status declared in last 2 years' ITR filings

Wrong status filed = Revised ITR must be filed under Section 139(5)

19. File Revised ITR if status was wrong (deadline: December 31 of AY)

For errors older than 2 years — consult CA for update return options

20. Check if RNOR status applies if returning to India soon

RNOR = Resident but Not Ordinarily Resident — foreign income still exempt

Documents needed:

  • PAN card
  • Last 2 years' ITR acknowledgements (PDF from IT portal)
  • Date-wise India travel record for each financial year

    3  IT Portal & Tax Filing

India income nahi hai — fir bhi ITR file karo

21. Log in to incometax.gov.in — verify profile is updated correctly

Check: address, residential status, linked mobile, email, bank account

22. Confirm linked bank account in IT portal is NRO (not resident savings)

Refunds and credits will go to this account — must be NRO

23. File ITR-2 — the correct form for NRIs with or without Indian income

ITR-2 can be filed entirely online from anywhere in the world

24. File even if you have no Indian income — maintain a clean PAN record

Active PAN + no ITR = vulnerable to scrutiny on any India transaction

25. Declare NRO account interest in ITR (taxable at 30% + surcharge)

TDS may have been deducted — but filing the return is still your obligation

26. Declare dividends and capital gains from Indian stocks or property

These are India-sourced income — taxable regardless of NRI status

27. Show foreign income in ITR — not taxable as NRI, but builds clean record

Especially important before returning to India or buying Indian property

28. Activate Digital Signature Certificate (DSC) to avoid Aadhaar OTP dependency

DSC allows filing without mobile OTP — critical if Indian SIM is inactive


Documents needed:

  • Login credentials for incometax.gov.in
  • NRO bank account statement (for interest income)
  • Capital gains statement from broker / AMC
  • Foreign income documents (salary slips, foreign bank statements)

    4 Power of Attorney

Ek baar banao — saalon ki tension khatam

29. Identify trusted person in India as POA holder

Parent, spouse, sibling, or trusted friend — must be adult Indian resident

30. Decide: Specific POA (limited tasks) or General POA (broad authority)

Specific = Safer for limited use | General = Full trust required

31. List all tasks POA must cover before drafting

Banking / Property transactions / Legal matters / Demat / Tax appearances

32. Engage CA or lawyer to draft POA — do not use internet templates

Errors in scope or wording can make POA unenforceable in India

33. Review draft POA carefully — ensure scope exactly matches your needs

What is not written will not be covered — be specific

34. Sign POA before Notary Public in your country of residence

Notary must certify your identity and witness your signature

35. Obtain Apostille certification on the notarised POA document

Apostille = International validation | US: Secretary of State | UK: FCDO | UAE: MOFA

36. Send original Apostilled document to India (keep certified copy)

Use tracked international courier — DHL/FedEx recommended

37. POA holder registers document at Sub-Registrar Office in India

Bring: Apostilled POA + ID proof of both parties + stamp duty payment

38. Pay applicable stamp duty (amount varies by state and scope of POA)

Check current stamp duty rates with local Sub-Registrar before registration

39. Inform all banks, brokers, and institutions of POA holder's authority

Most institutions require a copy of the registered POA — share attested copy


Documents needed:

  • Your valid passport (for notarisation abroad)
  • Draft POA prepared by CA or lawyer
  • Apostille certificate from your country's authority
  • ID proof of POA holder (Aadhaar + PAN)
  • Stamp duty payment (at Sub-Registrar — check current rate)

    5 Aadhaar & Mobile Number

OTP nahi aaya toh sab band — aaj hi fix karo

40. Make a test call/SMS to your Indian mobile right now to check if active

If it doesn't connect — number may already be deactivated (TRAI 90-day rule)

41. Check which mobile number is currently linked to Aadhaar

Visit: myaadhaar.uidai.gov.in ® Check Aadhaar status ® Verify mobile

42. Activate international roaming plan on Indian number (Airtel/Jio)

Plans from approx. 500/month — keeps number alive and OTP reachable abroad

43. Do minimum monthly recharge to prevent automatic deactivation

Even 50-100 recharge keeps the number active on most operators

44. Update Aadhaar address with foreign address via UIDAI portal

Upload valid passport as address proof at myaadhaar.uidai.gov.in

45. Add email address to Aadhaar for OTP backup on select services

Email OTP works as fallback on IT portal and some banking services

46. If number already deactivated: get new Indian SIM and update everywhere

Update order: IT portal ® Aadhaar ® banks ® Demat ® AMCs ® EPFO


Documents needed:

  • Aadhaar number (12-digit)
  • Passport (as foreign address proof for Aadhaar update)
  • Active Indian SIM card (existing or new)

    6 DTAA & Consult Your CA

Double tax avoid karo — major decisions se pehle CA se milein

47. Check if India has a DTAA agreement with your country of residence

India has DTAA with 90+ countries — US, UK, UAE, Australia, Canada, Singapore

48. Obtain Tax Residency Certificate (TRC) from home country's tax authority

TRC is mandatory to claim DTAA benefit in India

49. File Form 10F with Indian Income Tax department to activate DTAA benefit

Without Form 10F — DTAA benefit is not applied automatically

50.Show Indian income in your home country return and claim foreign tax credit

Avoids double taxation — your home country may also have a credit mechanism

51. Consult CA before returning to India permanently (before crossing 182 days)

Residential status, FEMA obligations, and tax treatment all change at 182 days

52. Consult CA before buying or selling Indian property as NRI

TDS, FEMA, repatriation rules, and capital gains treatment are complex

53. Consult CA before transferring large funds to/from India

LRS limits, TCS implications, and FEMA reporting may apply

Documents needed:

  • Tax Residency Certificate from home country's tax authority
  • Form 10F (available on incometax.gov.in)
  • Form 67 (if claiming foreign tax credit in Indian ITR)

    SELF-ASSESSMENT

Count your ticks across all 6 sections:

Items Completed                Status                               Action

0 – 10 items                   URGENT               Call CA Dhiraj today — +91 70200 45454

11 – 25 items                  IN PROGRESS          Complete remaining items this week

26 – 40 items                 ALMOST DONE          Finish last few items — great progress!

41 – 49 items                 NEARLY THERE          Final stretch — almost fully compliant

50 items                    FULLY COMPLIANT        Share this checklist with another NRI!



RECOMMENDED NEXT VIDEOS
 

Watch full video: NRI Ban Gaye? Ye 6 Kaam Turant Karo — @CADhirajOstwal on YouTube

 Next: NRI Property India mein bech rahe ho? TDS aur tax rules — CA explains

Coming soon: NRI ke liye India mein invest kaise karein — Stocks, MF, REITs, FDs


Need personalised NRI tax help?


Every NRI situation is different. CA Dhiraj Ostwal reviews your specific case and gives you a clear, step-by-step action plan.

CA Dhiraj Ostwal & Associates

11 Offices • 35+ Professionals • 1,500+ Clients • 7+ Countries

NRI Services Desk: UAE • US • UK • Australia • Singapore • Canada

This checklist is a free educational resource. It does not constitute legal or financial advice.

Tax laws are subject to change. Consult a qualified Chartered Accountant for advice specific to your case.