USA NRI Trading Account in India for investment

 Similar to resident Indians, all Non-Resident Indians (NRIs), including US-based NRIs, can also open an NRI trading account and start investing in the Indian market. However, investing in stocks and mutual funds in India is not straightforward for NRIs based in the USA because of FATCA regulations. Here is about the USA NRI trading account in India, NRI Demat account, and NRI investment options in India, as well as FATCA and US SEC.

Manoj Negi

· 25,510 views

What is a PIS Permission Letter for NRIs/ PIOs

 Portfolio Investment Scheme (PIS) is a scheme of the Reserve Bank of India defined in Schedule 3 of the Foreign Exchange Management Act 2000. PIS permits NRIs to invest in stocks and mutual funds through exchange houses in India. As per the scheme, NRIs can purchase and sell shares of Indian companies on stock exchanges. You can get a PIS permission letter with the help of the bank in which you have your NRE/ NRO account. You can apply for the PIS permission letter at a bank authorized by the RBI to administer the PIS.

SBNRI Team

· 29,084 views

Consequences of not filing ITR in India for NRIs, PIOs, OCIs

 To offer some relief for individuals who have not filed ITR returns In India, the last date for income tax filing for FY 202-21 (The assessment Year 2021-22) has been extended till 31st Dec 2021. Generally, the due date of ITR filing is July 31 for non-audit-business individuals and 31 October for audited-business assessees. Like resident Indians, it is important for people with NRI status as well as OCI and PIO cardholders to file their income tax in India. Non-filing of ITR may result in several penalties and lots of inconveniences. Some of the serious consequences of not filing ITR in India for NRIs/ PIOs/ OCIs are described here.

SBNRI Team

· 23,632 views

Do NRIs need to disclose foreign account details in tax returns?

 NRIs usually have earnings in India in the form of dividends, pension, salary, and housing or commercial property. If their Indian income exceeds the exemption amount, NRIs should file their income tax return (ITR) for income earned/ collected in India. Generally, NRIs are confident about disclosing their Indian income at the time of income tax filing, but many NRIs and expatriates are still confused about revealing their overseas accounts in the tax return in India. But do NRIs need to disclose foreign bank account information in tax returns?

SBNRI Team

· 21,453 views

Foreign Exchange Management Act (FEMA)

 Foreign Exchange Management Act, popularly known as FEMA, was introduced in 1999 to replace the Foreign Exchange Regulation Act (FERA), 1973. FEMA, 1999 was formulated to consolidate and amend the law concerning foreign exchange with the objective of facilitating foreign trade and payments and hence several economic reforms were introduced under the Act. What is FEMA (Foreign Exchange Management Act) is asked by many people. Let’s go through the objectives of FEMA, as well as features and provisions of FEMA Act 199.

SBNRI Team

· 23,457 views

Overseas Corporate Body (OCB) Meaning

 Overseas Corporate Bodies Meaning: Overseas Corporate Body (OCB) means a company, partnership firm, overseas trust, society and other corporate body directly or indirectly owned by NRIs (Non-Resident Indians) with not less than 60% beneficial ownership. OCB existed till 16 September 2003 and was eligible to undertake transactions to the general permission granted under Foreign Exchange Management Regulations. To know the Overseas Corporate Body (OCB) meaning and laws related to it continue reading.

SBNRI Team

· 32,362 views

Axis Bank 3-in-1 Account for Non-Resident Indians

 Axis Bank offers trading and investment services to NRI customers through its subsidiary AxisDirect. AxisDirect is a portal of Axis Securities Limited that offers seamless investment/ trading services to NRI customers. Axis Bank 3-in-1 account is a combination of NRI PIS/ Non-PIS savings account, Demat account and trading account. With Axis Direct 3 in 1 account, NRIs get an integrated account for investment and trading in the Indian market.

SBNRI Team

· 28,836 views

IIFL Securities NRI Trading Account: Types & Charges

 IIFL Securities is a full-service brokerage firm based in India and has a global presence with offices in India, Canada, Hong Kong, Mauritius, Singapore, Switzerland, United States, UK, and UAE. It offers 2-in-1 accounts i.e. IIFL Securities NRI trading account and Demat account, for NRIs. IIFL 2-in-1 NRI account allows online trading across stocks, equity derivatives and investments in mutual funds, IPOs and bonds.

SBNRI Team

· 24,251 views

[2023] NRI Capital Gains Tax on Shares

 NRIs can invest in the Indian stock market by purchasing shares through the Portfolio Investment Scheme (PIS) of the RBI. NRI investors can also invest in government securities, debentures, listed non-convertible debentures, etc. on repatriation or non-repatriation basis.NRI investment in India’s equity shares, mutual funds, etc. is subject to the restrictions/ conditions under the Foreign Exchange Management Act (FEMA). Dividend income and the capital gains earned by NRIs from shares listed in India and equity oriented schemes of mutual funds are taxed in India. NRI capital gains tax on shares depends upon the type of instrument and the period for which they are held before the sale.

Manoj Negi

· 33,715 views

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