Glossary & Abbreviations
An exhaustive dictionary of all financial, legal, and government acronyms you will encounter during your Return to India journey.
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Immigration & Status
- NRI (Non-Resident Indian)
- An Indian citizen who has resided in India for less than 182 days during the course of the preceding financial year.
- OCI (Overseas Citizen of India)
- A lifelong visa status granted to foreign citizens of Indian origin. It is not dual citizenship, but grants the right to live, work, and own non-agricultural property in India.
- PIO (Person of Indian Origin)
- A legacy card scheme that has now been entirely merged with the OCI scheme. All PIO cards are deemed to be OCI cards.
- FRRO (Foreigners Regional Registration Officer)
- The government agency regulating the registration and movement of foreigners in India. OCI cardholders are exempt from registering with FRRO.
- AQCS (Animal Quarantine and Certification Services)
- The Indian government agency under DAHD responsible for issuing import NOCs for pets and inspecting animals at Indian international airports. AQCS stations operate at Delhi, Mumbai, Bengaluru, Chennai, Kolkata, and Hyderabad. See: Relocating Pets guide.
- NOC — Pet Import (Advance No Objection Certificate)
- A mandatory pre-travel clearance from AQCS required before importing a pet into India. Airlines will deny boarding without a valid Advance NOC. Apply at least 7–14 days before departure. Fee: ₹1,000 per pet.
- RNATT (Rabies Neutralizing Antibody Titer Test)
- A blood test verifying a dog's rabies antibody levels. Not required for entering India from the US, but mandatory for dogs returning to the US from India (CDC classifies India as high-risk). Must be drawn ≥30 days after rabies vaccination and ≥28 days before US arrival.
- VEHCS (Veterinary Export Health Certification System)
- The USDA APHIS online platform used to submit and endorse international health certificates for animals exported from the US. All health certificates for pets flying to India must be USDA-endorsed via VEHCS within 10 days of travel.
Taxation & Residency
- Section 44ADA (Presumptive Taxation)
- An Indian income tax scheme for specified professionals (IT, consulting, legal, medical, engineering, etc.) that taxes only 50% of gross receipts, treating the other 50% as a presumed business expense without needing proof. For FY 2024-25, the limit is ₹75 lakhs if ≥95% of receipts are digital, or ₹50 lakhs otherwise. See: Freelance & Startups guide.
- e-FIRA (Foreign Inward Remittance Advice)
- The digital successor to the physical FIRC (Foreign Inward Remittance Certificate). Issued by your Indian bank as proof that foreign currency was received from abroad. Required to establish that payments from overseas clients are legitimate export proceeds under FEMA.
- LUT (Letter of Undertaking)
- A GST form that allows exporters of services to invoice foreign clients without charging IGST upfront. Valid for one financial year (April 1–March 31) and must be renewed annually. Required to export services as a zero-rated supply without paying tax and claiming a refund later.
- eBRC (Electronic Bank Realisation Certificate)
- A digital certificate issued via the DGFT (Directorate General of Foreign Trade) portal confirming that export proceeds were received in India. Required for claiming GST refunds on zero-rated service exports. Requires an IEC (Importer Exporter Code) to obtain.
- Benami Transactions Prohibition Act
- An Indian law prohibiting the purchase of property in another person's name while the real owner pays for it secretly. If an NRI pays for a property and registers it solely in their parents' name without a proper gift or loan arrangement, it can be flagged as a benami transaction. See: Aging Parents guide.
- Ayushman Vay Vandana (PM-JAY 70+)
- An expanded component of the Ayushman Bharat PM-JAY health scheme (launched September 2024) that covers all Indian citizens aged 70 and above, regardless of income. Provides ₹5 lakh per year in hospitalisation coverage. Existing PM-JAY family beneficiaries in this age group receive an exclusive ₹5 lakh top-up. See: Aging Parents guide.
- SPICe+ (INC-32)
- The Simplified Proforma for Incorporating a Company Electronically Plus — the MCA21 V3 portal form used to incorporate a Private Limited company in India. It simultaneously allocates the Director Identification Number (DIN) and registers the company with the Registrar of Companies (RoC). See: Freelance & Startups guide.
- CMRA (Commercial Mail Receiving Agency)
- A private business that accepts mail on behalf of others, such as a Virtual Mailbox provider. Under Patriot Act KYC rules, US banks will reject CMRA addresses if entered as your Physical Residential Address. See: The US Exit Strategy.
- Ultra Mobile PayGo
- A highly popular $3/month US mobile plan that runs on the T-Mobile network. Unlike Google Voice, it is a real mobile number (not VoIP), making it perfect for receiving bank 2FA SMS texts while in India using Wi-Fi Calling.
- RNOR (Resident but Not Ordinarily Resident)
- A transitional tax status in India lasting up to 2–3 years after returning, depending on how many years you were a Non-Resident (governed by Section 6(6) of the Income Tax Act — the actual duration varies per individual). During this period, your foreign income (like US dividends or capital gains) is entirely exempt from Indian taxes.
- ROR (Resident and Ordinarily Resident)
- Your permanent tax status after RNOR expires. As an ROR, your global income (including US 401k/IRA gains) becomes taxable in India.
- DTAA (Double Taxation Avoidance Agreement)
- A treaty between the US and India preventing you from paying full tax on the same income in both countries. You claim a Foreign Tax Credit in one country for taxes paid in the other.
- TDS (Tax Deducted at Source)
- Tax automatically withheld from your income (salary, interest, property sale) before it reaches your bank account.
- FBAR (Foreign Bank and Financial Accounts Report)
- A mandatory US Treasury form if the aggregate value of your foreign (Indian) financial accounts exceeds $10,000 at any time during the year.
- FATCA (Foreign Account Tax Compliance Act)
- A US law requiring foreign banks (including Indian banks) to report the financial accounts of US persons to the IRS. This makes hiding money abroad impossible.
- PFIC (Passive Foreign Investment Company)
- A punitive US tax classification that applies to foreign mutual funds (including Indian mutual funds). US taxpayers should strictly avoid investing in Indian Mutual Funds due to PFIC rules.
Banking, Finance & Identity
- NRE (Non-Resident External Account)
- A bank account for NRIs to park foreign earnings. The funds are freely repatriable back to the US, and interest earned is tax-free in India (though still taxable by the US IRS if you are a US Person).
- NRO (Non-Resident Ordinary Account)
- A bank account for NRIs to manage income earned *within* India (e.g., rent, dividends). Interest is taxable in India, and repatriation has strict limits.
- FCNR (Foreign Currency Non-Resident Account)
- A fixed deposit account where you hold money in a foreign currency (e.g., USD) to protect against INR depreciation.
- PAN (Permanent Account Number)
- A 10-character alphanumeric identifier issued by the Income Tax Department. Essential for any financial transaction in India.
Career, Employment & Lifestyle
- CTC (Cost to Company)
- The total expense an employer spends on an employee. Includes base salary, bonuses, EPF contributions, and sometimes hidden components like gratuity. Your actual take-home pay is significantly lower than your CTC.
- EPF (Employees' Provident Fund)
- A mandatory retirement savings scheme where 12% of your basic salary is matched by your employer and locked in until retirement.
- PPP (Purchasing Power Parity)
- An economic metric used to compare salaries based on local living costs. E.g., A ₹50 Lakh salary in India affords a higher quality of life than a $100k salary in the Bay Area due to PPP.
- LTA (Leave Travel Allowance)
- A tax exemption provided by employers for domestic travel expenses incurred by you and your family.
- RERA (Real Estate Regulation and Development Act)
- A law enforcing transparency in the real estate sector. Always ensure the property you buy is RERA-registered to avoid being scammed by builders.
Education & Logistics
- DASA (Direct Admission of Students Abroad)
- A quota scheme allowing NRI/OCI students to gain direct admission into premier Indian engineering colleges (NITs, IIITs) based strictly on JEE Main ranks (SAT is no longer accepted).
- TR (Transfer of Residence)
- A customs concession allowing returning Indians to import their used household goods and electronics without paying massive import duties.
- CBSE / ICSE / IB
- The three main education boards in India. CBSE (Central Board) is highly competitive and standard. ICSE is renowned for English literature and practical learning. IB (International Baccalaureate) is the global standard preferred by returning expats.