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Glossary

Quick, quotable definitions of the terms that come up constantly in NRI legal and financial life -- each one links through to this platform's fuller article for the complete picture.

Terms

NRI (Non-Resident Indian)

Who counts as an NRI under India's residency tests, and why it matters.

NRE Account

The account type for foreign earnings remitted to India -- freely repatriable, tax-exempt interest.

NRO Account

The account type for income arising in India -- taxable interest, repatriation subject to limits.

FCNR Account

A foreign-currency term deposit account that removes exchange-rate risk on repatriation.

RNOR (Resident but Not Ordinarily Resident)

The transitional tax status that shields a returning NRI's foreign income for a limited window.

Power of Attorney (POA)

The instrument that lets an NRI authorize someone in India to act on a specific matter.

FEMA

The Foreign Exchange Management Act, 1999 -- the law governing how NRIs move money and hold assets.

OCI (Overseas Citizen of India)

The lifelong visa-equivalent status for former Indian citizens and their descendants -- not dual citizenship.

Coparcenary

The specific class of Hindu joint-family members with a birthright share in ancestral property.

DTAA (Double Taxation Avoidance Agreement)

The bilateral treaty mechanism that stops the same income being taxed twice across two countries.

TDS (Tax Deducted at Source)

How TDS works, and why NRI property sale rates are materially higher.

PAN (Permanent Account Number)

When an NRI needs a PAN, and how to apply for one from abroad.

Domicile

The permanent-home concept, distinct from tax residency and citizenship.

Stamp Duty

The state-level tax on registering property deeds and Powers of Attorney in India.

Repatriation

Transferring funds held in India abroad, and the FEMA/RBI rules that govern it.

Probate

The court process confirming a Will's validity and an executor's authority.

Encumbrance Certificate

The official record confirming a property is free of registered liens or charges.

Intestate Succession

How property is distributed under Indian law when someone dies without a Will.