Shweta Bhatia asked on 18/03/2020
6958 views
SBNRI Team
answered on 18/03/2020

NRI as per Income Tax NRI as per Income tax isn’t defined directly which means that there is no definition for Non Resident Indians (NRIs) under the IT Act, but it lays down certain criterias to certify citizens as residents of India.     According to Income Tax regulations, a citizen will be a resident […]

Akshit Shukla asked on 18/03/2020
8645 views
SBNRI Team
answered on 18/03/2020

NRI as per FEMA Non-Resident Indian (NRI) as per FEMA or Foreign Exchange Management Act is a person who has gone out of India or stays outside the country for the purpose of employment, business, vocation (occupation for which an individual is trained) or any other circumstances indicating his/her intention to stay outside India for […]

Nishtha Taneja asked on 18/03/2020
13001 views
SBNRI Team
answered on 18/03/2020

An NRI or Non Resident Indian is an Indian Citizen living outside India for a minimum of 183 days in 1 financial year for the purpose of employment, business or vocation (occupation for which an individual is trained).    Indian Citizens who have gone out or are staying abroad for some other purpose with an […]

Parul Naik asked on 11/09/2020
1355 views
SBNRI Team
answered on 11/09/2020

We are going to start the newsletters very soon and the news regarding that will be available on our blog and website. We request you to subscribe to the web notifications of our Blog and also subscribe our Youtube channel for latest updates.   If you have any queries or doubts around NRI Banking, Investments, Remittance, etc. contact our […]

Mayank Khandelwal asked on 23/03/2020
5389 views
SBNRI Team
answered on 23/03/2020

Credits refer to the money that can be deposited in an account. The permissible credits in an NRO Account are listed below.     Permissible Credits in an NRO Account: Inward Remittances from outside India Interest earned on the NRO account balance Gifts in INR or loans taken from any resident or NRE/NRO account holder […]

SBNRI Team
answered on 11/09/2020

Yes, it is mandatory to declare your NRI Status to the bank so that they can do the needful from their end. (Eg. Convert your Resident Savings Account to NRO Account etc.) As of now, you can still continue to subscribe to your PPF Account till its maturity (2023). But you won’t be able to extend […]

Prateek Bansal asked on 11/09/2020
1748 views
SBNRI Team
answered on 11/09/2020

“Non-Resident Indians are not eligible to open an account under the Public Provident Fund Scheme. However, Existing PPF investors, who become NRI before the maturity of the PPF account, can continue to invest in PPF till the completion of maturity period on Non-Repatriable basis.”   To get expert advisory at SBNRI, contact us using the […]

Rohit Singhal asked on 30/03/2020
18809 views
SBNRI Team
answered on 30/03/2020

Yes. NRIs from the USA can invest in PMS in India. PMS stands for Portfolio Management Services. They need the following 3 accounts to invest in PMS : A PIS Bank Account (a normal bank account where your money resides),  A Trading Account (a share broker account which allows you to trade in equity, F&O […]

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