OCI status does not affect your tax liability in India. If you are planning to return back to India in a few years, you can plan your investments & incomes to keep the liability to the minimum & at the same time ensure proper compliance.
This affidavit serves as a sworn statement confirming that the attached documents are true copies of original support documents. It is essential for submitting your OCI application.
OCI cardholders are not considered citizens of India and therefore do not have the right to vote in Indian elections. Analysis: This is a significant disadvantage for those who wish to participate in India's democratic processes.
There will be no restriction on the OCI cardholder to travel to/from India during the period from the date of issue of new passport till the date of final acknowledgment of his/her documents in the online system.
OCI is useful cause it's a lifelong visa to India - especially for family emergencies, having them is useful than running to the consulate to make sure your visa is in order. Also it can act as a work permit if you ever somehow end up working there(you get almost the same rights as citizens).
Affidavit in lieu of originals: A notarized affidavit needs to be submitted that the documents in support of the OCI application are true copies of the original documents, where only copies are being provided (Click here for the format).
Now, OCI cardholder is required to get the OCI card re-issued only once when a new passport is issued after completing 20 years of age. However, OCI cardholder is required to upload Online a copy of the new passport and a latest photo each time a new passport is issued up to 20 years of age.
Please enclose copies of all pages of your last Indian passport having personal particulars such as name, photo, date of birth, parents' names etc. If there are any endorsements on any page, enclose copy of those pages as well. These must also be uploaded as a single pdf file on the OCI application website.
The photograph should be in colour and of the size of 2 inch x 2 inch (51 mm x 51 mm). The photo-print should be clear and with a continuous-tone quality. It should have full face, front view, eyes open. Photo should present full head from top of hair to bottom of chin.