1. Key Highlights for NRIs in 2024

- Global Income Clarifications: Income earned by NRIs which are NRIs are not taxed unless the said income is looked upon.
- TDS on Property Sales: For NRIs selling property in India, the guidelines for Tax Deducted at Source (TDS) will become clearer with a 20 percent rate of tax applied to capital gains.
- Extended Tax Filing Deadlines: Compliance challenge faced by NRI has been eased as they have been given some additional time to file tax returns in India.

2. Real Estate and Investment opportunities
- Repatriation of Sale Proceeds: Property sales by NRI do attract up to USD 1 million per year repatriation, but only after tax clearance, as per Reserve Bank of India (RBI).
- Affordable Housing Investments: There are new government initiatives around affordable housing, which draw NRIs with lucrative tax benefits and attractive returns.

3. Updates in PIO/OCI Schemes
- Long-Term Visa Simplifications: With a lifetime OCI visa, NRIs can now apply, renewable every 10 years, for hassle free travel and residency in India.
- Expanded OCI Benefits: Now, NRI holding OCI card can invest in previously restricted sectors like agricultural land.

4. Based on Banking and Financial Services Enhancements
- Simplified NRE/NRO Account Management: Today banks provide streamlined processes for repatriating funds and easy account handling on line.
- New NRI-Specific Investment Products: During the past few years, Indian financial institutions have provided NRIs with the mutual funds, fixed deposits, as well as government bonds tailored according to NRI requirements.
- Digital Banking Advancements: NRIs now have access to India's banking services on mobile and online platforms that is seamless.

5. Investment and Market Opportunities.
- Stock Market Investments: Simplified channels allow NRIs to invest in Indian stocks, bonds and ETFs.
- RBI Bonds and Start-Up Ecosystem: NRIs are urged to lurch at the RBI bonds which are low risk and hustle into India’s booming start up sector.

6. NRI Voting Rights
- Remote Voting Options: The Election Commission of India has made provisions for NRIs to participate in national and state elections through electronic voting, empowering them to engage in India’s democratic process.

7. Health Insurance, updates.
- Specialized Health Insurance Plans: Now, Indian insurers provide NRI specific policies with full coverage for medical requirements both within India and abroad.
- Medical Tourism Boost: Over the last few decades, NRIs have also begun to access affordable, world class healthcare in India for medical treatments and everyday health checkups.

8. NRIs opportunities in 2024
- NRIs get the latest updates that provide a chance to boost their economic and personal ties with India. NRIs are encouraged to avail of the many benefits these changes can provide whether through investments, tax planning or democratic participation.

- About NRIs in India
With over 30 million NRIs worldwide, India remains a key hub for the diaspora, offering avenues for business, investment, and personal connections. The 2024 updates reaffirm India’s commitment to its global citizens.

For more information about these updates, visit https://www.india.gov.in/topics/foreign-affairs/nris or https://legalprime.in/nri-legal-services-in-chennai/