Mayank Khandelwal asked on 03/04/2020
8523 views
SBNRI Team
answered on 03/04/2020

  Account Opening Grid: Open an NRI Account Documentation Requirements NRE/NRO/FCNR Account opening process for each bank is different. The structure to open an NRI Account is –   1. Get the required documents ready, 2. Attestation and KYC 3. Bank gets the courier pick up done from NRI’s residence or NRI couriers it to […]

SBNRI Team
answered on 09/02/2021

Gift from an NRI Relative to a Resident Indian is exempt from tax in India for both giver and receiver. Therefore, you don’t have any tax liability in India.

SBNRI Team
answered on 09/02/2021

As per the FEMA Notification under the Reserve Bank of India, with respect to Power of Attorney for an NRI in India, it is stated that: Authorized dealers / banks may allow operations on an NRO account in terms of a Power of Attorney, provided such operations are restricted to:(i) all local payments in rupees […]

Hemant Sachdeva asked on 23/03/2020
19598 views
SBNRI Team
answered on 23/03/2020

Yes, you can deposit cash in an NRO account after sharing the source of income of the money that you are depositing with the bank. Can I deposit cash in my NRE Account? No, you cannot deposit INR cash in an NRE account because NRE accounts are used to maintain the income earned outside India.  […]

Mayur Rastogi asked on 22/03/2020
3018 views
SBNRI Team
answered on 22/03/2020

NRIs can buy shares by investing their money into stocks listed on the National Stock Exchange of India Ltd. (NSE). To be eligible to invest into stocks, NRIs need to be a part of the Portfolio Investment Scheme* (PIS) that will allow them to trade stocks. *(Portfolio Investment Scheme (PIS): Through this scheme of the […]

SBNRI Team
answered on 16/11/2020

The STCG on debt funds are deducted at 30% TDS but the tax liable is as per your tax slab. Therefore, you are entitled to a refund as per your tax slab.   For LTCG, 20% TDS is deducted and the tax liable on LTCG is also 20% along with indexation benefits. Therefore, in this […]

Raziya Bhagat asked on 16/11/2020
3022 views
SBNRI Team
answered on 16/11/2020

FATCA Details enables you to share your tax details with respect to your country of residence which includes your Tax Identification Number. The motive of FATCA is to prevent individuals from parking their wealth outside their resident country and avoid taxation from such wealth.   Click on the button below to connect with our expert […]

Srinivas Kanchanapalli asked on 16/11/2020
3472 views
SBNRI Team
answered on 16/11/2020

The NRE FDs doesn’t need to be converted to resident accounts after you return to India. They can remain as-is till maturity.   Post maturity, the NRE FD can be converted to a Resident Foreign Currency (RFC) Account. The interest earned on NRE Deposits that have been converted to RFC Accounts will be exempt from […]

Dhanesh Chauhan asked on 16/11/2020
1203 views
SBNRI Team
answered on 16/11/2020

There are 3 types of NRI FDs you can choose from and 2 of them are not taxable. Non-Resident External (NRE) FD: For income generated outside India, maintained in INR. There is no tax in India on the interest earned. Non-Resident Ordinary (NRO) FD: For income generated in India, maintained in INR. The interest earned […]

SBNRI Team
answered on 16/11/2020

The tax on Mutual Funds will be deducted on the format for TDS for an NRI. There are no separate rates for TDS. For an NRI investing in Mutual Funds in India, the gains are pre-taxed (TDS) before they are received in the bank account of the NRI.   Is NRI eligible for refund on […]

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