Only the interest earned on NRO Deposit is taxable in India: 30% tax + surcharge + education cess* is deducted at the source of interest earned in India. The repatriation of the money in the account can be done up to a maximum of 1 million USD per financial year.   *(Cess: A cess is […]

There are multiple factors to consider while drawing out a comparison between NRE/NRO/FCNR Fixed Deposits. Here is an overview of the accounts for you to choose the best Fixed Deposit as per your needs.     Comparison between NRE/NRO/FCNR Fixed Deposits: Factors to consider Non Resident External (NRE) Account Non Resident Ordinary (NRO) Account Foreign […]

Charges of opening an NRE/NRO Account in India There are no charges of opening an NRE/NRO Account in India. Although you need to maintain an average monthly or quarterly balance of Rs.10,000/-. Failure to maintain average balance If you fail to maintain the average monthly or quarterly balance, you will have to pay a penalty […]

An NRI can invest in Mutual Funds In India using their NRE/NRO accounts.     In order to invest in Mutual Funds, NRIs must be registered with a Registered Transfer Agents (RTAs). These RTAs maintain a detailed record of Mutual Fund Investors. There are a number of wealth management services and digital platforms that can […]

The answer is NO! To understand this, let’s consider these basic explanations:   1. Any NRI can’t open a PPF Account. NRIs aren’t eligible for opening one, even if they are doing it for a minor. 2. If the minor is also an NRI, he is too not eligible for a PPF account. 3. If […]

No. Presently, there’s nothing like that. What you must have read is the PPF Notification of 2017 which reduced the interest rates for NRIs to 4%. But later in 2018, the rules of PPF for NRIs were amended again.   The highlights of the amendment are as follows:   1. NRIs can’t extend PPF Account […]

Yes, if your wife is staying in India and she is a Resident Indian, she can definitely open a PPF account. You can too choose from a variety of investment options in India being an NRI. To get expert advisory at SBNRI, contact us using the button below.        

As per PPF Rules, firstly you need to inform the bank about the change in your status and then you can continue to subscribe to your PPF Account till maturity (15 years) but you won’t be able to extent it further.   To get expert advisory at SBNRI, contact us using the button below.   […]

Taxation on Mutual Funds for NRI: Different types of Mutual Funds are taxed differently   *(Equity Funds: An equity fund is a mutual fund that invests principally in stocks)   *(Debt Funds: A debt fund is a mutual fund that invests in fixed-interest generating securities such as corporate bonds, government securities)   Nature of Profits […]

No, you won’t get any notice from ITR but you will have to declare this amount under “exempted income” while filing your taxes. To book your NRE FD effortlessly at the comfort of your homes, click on the button below.