BDO joins Stronger Together Leeds City Region Network

A 2024 study by the Department for Business, Energy and Industrial Strategy found that the potential benefit to the UK economy from full representation of race across the labour market, is estimated to be £24 billion a year, representing 1.3% of GDP. But progress for boardroom diversity alone remains slow – meaning the country is...Read More

NRIs returning to India: An essential financial guide

A shift back to your home country carries mixed emotions of apprehension and excitement. If you are a Non-Resident Indian (NRI) planning to move back to India, we have listed a few tips that will facilitate a quick and seamless transition.you may have various bank accounts in India, such as Non-Resident Ordinary (NRO), Non-Resident External (NRE)...Read More

Consequences of dormant NRI bank account: why should you avoid it and how to reactivate

When it comes to banking, a Non-Resident Indian (NRI) must follow various rules and regulations, predominantly under the Foreign Exchange Management Act (FEMA) and the RBI. To comply with these rules and regulations, an NRI or a Person of Indian Origin (PIO) must open an NRI bank account in India...Read More

Minor's account to NRIs: New PPF changes from October 2024 decoded

The updated PPF rules that came into effect from 1 October, 2024 aim to regularise small savings schemes. Whether you are managing a minor's PPF account, holding multiple PPF accounts, or an NRI with a PPF account, the new guidelines set by the finance ministry will affect how your account earns interest...Read More

IRS increases special per diem rate for business travel

The special per diem rates that a taxpayer may use in substantiating travel and business expenses under the per diem substantiation method (set out in Rev. Proc. 2019-48) will be higher starting Oct. 1, as provided by the IRS in Notice 2024-68. Generally, under the per diem substantiation method, if an employer or other payer pays a per diem allowance in lieu of reimbursing an employee's actual expenses for lodging...Read More