Excellent information.... Very important for all NRI account holders.... Thanks. What about treatment of income tax on income on MF bought through NRE account when sold. Please guide.
Thanks , It was a very informative and useful video. Please could you make a video on the KYC requirements for NRi's. Is there a central place to do KYC so every bank can have access. I am being asked by my bank every now and then to do KYC even though I do it every year.
Actually all facilities of NRE are almost eyewash. While transferring foreign currency to India @2 Rs/ $ are lost in conversion. Same while repatriation. So you loose everything what you gained in Interest. Unless you have large transactions across globe, none of the schemes are investor friendly😢
Here is Summary of Video: 13 Essential Points about NRE, FCNR, and NRO Accounts Topic: NRI Banking Main Points: Types of Accounts: NRE (Non-Resident External Account): Freely repatriable NRO (Non-Resident Ordinary Account): Restrictions on repatriation Transferring Funds: NRE to NRE/NRO/Other Indian SB accounts NRO to NRO/Other Indian SB accounts Cannot transfer NRO to NRE directly (requires documentation) Fixed Deposits: NRE: 1-10 years NRO: 1 week-10 years Taxation of Interest: NRE: Tax-free in India NRO: Taxable in India (applies to IR for all countries except DTA agreement countries) TDS (Tax Deducted at Source): NRE: No TDS on interest NRO: TDS of 30% (may be lower with DTA agreements) Interoperation of Accounts: Can transfer NRE to NRO directly Can transfer NRO to NRE with documentation Types of Accounts: Savings, current, RD, fixed deposit (same for NRE and NRO) Returning NRIs: Can transfer NRE to FCNR or RFC account upon returning to India Cannot transfer NRO to FCNR/RFC account Account Holders: Single account or joint account Joint account holder can be NRA, OCI, or resident Indian (former or survivor basis only for immediate relatives) Currency of Account: NRO: Indian Rupees only NRE: Indian Rupees or foreign currencies (FCNR account) Debit/Credit Cards: NRE: Debit card for domestic and international use NRO: Debit card for domestic use only Credit cards may be secured by fixed deposits Receiving Funds: NRE: Remittance from outside India, other NRE accounts, proceeds of investments NRO: Remittance from outside India, NRE/NRO/SB accounts, proceeds of investments, income generated in India Record Keeping: Maintain annual bank statements (electronically or physically) for proof of investments and tax purposes Conclusion: This video provides comprehensive information on NRI banking, covering key aspects such as account types, money transfers, taxation, record keeping, and considerations for returning NRIs. Understanding these points is essential for seamless NRI banking operations and avoiding any potential issues.
What happens if NRI doesn't convert SB account to NRE/NRO? And converts it to NRE/NRO after 2yrs? If there have been transactions on that SB account both local and FX. Is there a way to rectify this?
Sir kindly guide me My daughter recently moved to US Before moving to US she was holding three SB account the amount lying is mix of plain amount and fixed deposit form Kindly suggest should I convert all sb account to NRO/NRE /FCNR account or any one account may be converted as NRE/NRO and balance two operate as SB account as usual Pl guide Thanks
PLEASE REPLAY ...I am going to stay in USA for 1 year as H4, now already 4 months completed. I am doing Options daily trading(cant hold) , shall I continue with out making NRE
Pl. Give your view in respect of minor rights relating to grand parents who residents, but minor father and mother are NRIs. Further, in this case the child is foreign citizen because of his birth at foreign country. However, here child's parents are NRIs Nd grand parents are RESIDENTS.
Sir, I am filing my first ITR as NRI. I am having trouble adding my bank account for refund. I have NRE account and it was denied to receive refund. So what type of account I should have in order to link with ITR. Thanks
While I am thankful to the presenter and the channel for making this video. But at the same time, I like to warn every NRIs about current dubious Indian government and policies. Repatriation of money from India to any foreign country was always costly and complicated. Although after 2016 the bank related RED tape is all time high, the bank/KYC related rules are continuous changing and impossible to follow for someone living outside India. When its comes to withdrawing money from Indian bank (specially government bank), forget about NRI, even Indian citizens are having hard time. My parents and every senior member of my family were harassed every 3-6 months with frozen accounts, just because they are not online users. Before 2014 without court approval no bank could freeze any account. But now it's legal for banks to freeze any bank account including senior citizens without any court order. Death of democracy. Final nail in coffin, most of the banks in India are government banks. and they will never provide paperwork on time, especially the extra info for NRO/NRE/other accounts to file foreign tax. So, in case of conflict there will be court case as "you vs government of India, where no citizens (Indian or NRI) ever going to get justice.
An video on OCI card holders using NPS for retirement savings. Also is there any difference in investing in Mutual funds and NPS, I find NPS to be attractive considering the low handling charge. But do we have any short comings in NPS compared to Mutual funds.
Can gift amount received in india can be deposited in NRO account if yes what is its limit. Similarly amount borrowed can be deposited in it if yes what is its limit.
Sir i am working in Qatar since from last 10 years, still i am sending my salary to my savings account in india, please advise it's possible to convert my normal savings account to NRE account
A person is have a Saving Bank Account India. After some years, he become an N R I. He forgets to convert his existing Saving Bank Account into NRO Account. Is there any penalty in the Indian Law.
I think next financial year will be RNOR for 3 years. Hence, I need to know (1) what types of accounts we can maintain during these 3 years and (2) what will be the tax implications on income generated in India from NRE and FCNR accounts.
Greatly appreciate your informative videos. I understand that FCNR is not an account but only a fixed deposit in a foreign currency held under your NRE accounts Also would require a clarification if the FCNR \ RFC account is tax free with respect to the interest earned for the returning NRI after his status has changed to residents?
*Dr Bhat ...transferring funds from NRO to NRE account , do I need to have a financial advisor or accountant? ,can the bank not just provide the forms , especially for small amounts like 5k rupees*
Sir, your videos are extremely helpful and informative. Your style of explanation is simple and easy to understand. This topic is discussed heavily among all the NRIs in various countries as there's not a single video to explain. I'm clubbing all the questions together regarding How to safely transfer money for returning NRIs. 1. should they transfer money all in one go or in steps ( to get the better currency conversion rates ) 2. In india maximum insured amount is 5 Lacs but when NRIs return back, their money will be substantially higher than this bracket. Then how to manage the large funds, is it safe to keep them NRE/FCNR accounts? 3. If NRI is say transferring 100k USD then in Rs. it will 83 Lacs then is it advisable to keep that large amount in one account or split it or invest it anywhere 4. Tax considerations regarding amount sent.
Hi. Great video sir. Liked and subscribed. Two questions: 1. If I transfer funds from my NRE account to NRO account and then from my NRO account to Zerodha Demat a/c (non-PIS), how will the redemption proceedings be taxed on capital gains? 2. Can I remit that capital gains freely outside India since the base source had been NRE a/c?
*Good question I was wondering this too, I can answer question 2, you transfer zerodha to NRO then using form 15A provided by your indian bank you can transfer to your NRE account and repatriate 😊👍*
Sir I really appreciate your service very much,all very useful.I wish to know the benefits of joint venture building,for im frieghtened to rent or keep my individuel property in India.
Hi Sir, I have 3 Questions 1. The money which I'm Transferring from NRE to NRO is taxable? 2. The money which I'm Transferring from foreign bank account to NRO is taxable? 3. If an NRI to invest in Indian Mutual funds through which account(NRE or NRO) is best for future preceptive to settle back in India after some years.
Hello just want to know if NRO account can be convert into Local saving SB account after returning to India For Good. Reason for asking is I have investment into Mutual funds which I have done using Nro account. So if I want to redeem into the same account it will be helpful. since my investment is with Many Mutual fund house I will have to go to every house to change the account number. IF THE ACCOUNT REMAINS SAME WITH SAME BANK I NEED NOT CHANGR THE NUMBER . please advise .
I am residing outside India . Whether I need to open NRI account itself .. provided I don't want to transfer any money inside or outside India.. whether I can still hold savings account handle all my equity transactions there.. paying all taxes.. not sending anyoney outside and inside india
I am an OCI card holder. I am drawing pension in India. Whether there is any provision by which my pension can be credited to NRE account. ( Now credited to NRO account). I heard some body claiming like that subject to deduction of tax.
Can we convert an existing savings account to an NRE account? Can we invest in stocks and mutual funds through an NRE account? If we have an existing Demat account linked to the savings account, will it also be transferred to the NRE account?
Thanks for your videos. I am an NRI account holder. But I have a couple of joint accounts with my mother and my father who have a SB account. After I converting to an NRO account, is it yet possible to maintain a joint account with my parents having SB account, thanks
Hello sir, Is it ok to have a joint NRI or an individual account considering tax (capital gains) implications on future transactions, if someone has properties on individual names separately? I mean is it ok to have a joint NRI account and file individual tax returns whenever transactions take place individually? Please clarify. Thanks.
What are the limits or requirements that apply while transferring or cash depositing into NRO account by individuals or from Indian resident saving accounts ?
Thank you so much for the subject information. I am an nri / foreign citizen. We are about to get some inheritance. I would like to know if you have covered these topics regarding transfering money received from inheritance either in form of cash or by selling property of parents. Please let me know if any you tube is available for me to watch or prepare a new one. Thanks Anil
Hello @NRI Money Clinic, What if I transfer money from Australia to an NRO Account in India and trade/invest in the US stock market from the NRO Account? Will I have to pay tax? If yes, then how much tax will I have to pay to the Indian government? Thanks
Hi sir very informative video, I was also watching your video on how to transfer money from NRO TO NRE account as well , my query is- I bought a land back in 2015 in India and I sold it out yesterday. Back in 2015 I didn’t have NRE account so I transferred the money to my NRE account and and purchased the land, now that I have an NRO account now which I opened couple of years ago.so can I transfer this money back to my NRE account without paying tax or filing out those documents?
Sir, How to pay our Home loans in India, is it possible Ecs deduction through our Savings account? Or In NRO account we have to do give Ecs deduction for loans?
Question: If I am selling my property in NZ and want to transfer funds from sale of proceeds around 1.5Cr should I transfer to NRE or NRO of my axis bank? I would like to make a fixed deposit of that funds in near future in India. Which is the better account for tax savings.
I want to open an FD in NRE or FCRN account. I want that the interest earned in this FD should be deposited in the account of my father. Is this possible ?
An NRI working in Singapore earning salary in Singapore Salary account, transfers the part of salary to Indian NRO account, how does the tax apply in India?, as already tax being deducted in Singapore every year for the earned salary in Singapore.
Dear Sir, am a PR in canada, could you please clarify whether the interests earned on NRE accounts in India needs to be reported in Canada and is that taxable in Canada? Thank you
What happens if I have NRE FDs in India and then I come back to India and close these FDs after I become a resident after 6 months of return to India. The interest is paid then - do I have to declare this interest income in India and pay Income Tax, is TDS deducted on those?
Thank you very much sir for providing valuable and insightful information especially point numbers from 9 onwards.... If possible could you please do a video on GIFT city Opportunities for NRIs Thank you sir...have a great time ahead
Can u pl let me know whether u are conversant with USA tax laws as regards transfer from new account in Indian bank to his USA account restrictions etc
Once I permanently return to India Can I convert Nre account deposit to Fcnr or Rfc for future use of my child education outside India Is any restriction?
Sir, thanks for the nice informative video and can you please do one video on who is planning to switch to other country citizen then what all the things he may loose and also in terms of taxation on existing home loan, property, mutual and stocks.. or if he wants to buy new properties or any stock market investment..
Hi,I am a banker working in State Bank of India,NRI BRANCH & we deals with NRIs only.In case of any financial,banking, investment or taxation needs or query,you can reach out to us on email sbi.13482@sbi.co.in.
Hi Many thanksYou make NRI & OCI life easier advice’s with hidden details, millions thanks 🙏🏻, I would like to know I’m OCI live in UK , I invested in purchasing property in india, some reason even after agreement due they’ve excuses to hand over , if they refund Amount I paid through NRE A/C will that be taxed 😢, I’m so worried all my hard earnings will be taxed again. I do have print out sheets all payments done through NRE A/c , Thank you pls kindly Advise 🙏🏻😔
Sincere question sir - If NRO FD has 35 lacs and generates 2.5 lacs yearly interest, India is not taxing as it is within tax exempt slab. In other words we are getting TDS refund when filing taxes. Should we show this NRO interest to USA ? My understanding is both countries have DTAA double tax avoidance treaty.
Thanks for the much needed info! A quick question: Is there a limit to transfer money from a joint account (outside India) to NRE account? I recently learned that sending from joint account to relative's account is not considered gift - hence my question. Appreciate your advise!
WOW very nice deep clear information for NRE & NRO & FCNR accounts....amazing . This will help many people and remove their confusion. Great job. Great video 👍 & explanation 👌👌👌
Hi,I am a banker working in State Bank of India,NRI BRANCH & we deals with NRIs only.In case of any financial,banking, investment or taxation needs or query,you can reach out to us on email sbi.13482@sbi.co.in.
Good content as always. Can you cover Tax harvesting in equities where the stock has been delisted ( how to show booking of loss since stock can no longer be sold on the exchange)
you mentioned it's advisable for NRI to hold joint accounts on "former or survivor basis".. what I would like to what is difference one may face if the NRI has a nominee mentioned in the accounts and MFs he holds. What is the implications between the two... thanks
@NRIMoneyClinic does that mean that if you are a single account holder and has nominated a nominee than that legally good enough ( as good as holding a "former or survivor basis a/c)
![ได้เวลา! พาน้องแฝดฉีดวัคซีนครบ 1 เดือน🫣 [cc] แดนแพทตี้ SS2 | EP.52 |](http://i.ytimg.com/vi/IzeLtaXBLNE/mqdefault.jpg)
Sir make a video on
Parental property in India and kids are seeing to settle abroad
How to transfer the property
Excellent information.... Very important for all NRI account holders.... Thanks. What about treatment of income tax on income on MF bought through NRE account when sold. Please guide.
Thanks , It was a very informative and useful video. Please could you make a video on the KYC requirements for NRi's. Is there a central place to do KYC so every bank can have access. I am being asked by my bank every now and then to do KYC even though I do it every year.
Excellent
Can a NRi, citizen of India but resident of US take loan in Indian from his Indian friend in his NRO account?
😢A video on how to invest in stocks and MFs in India by US and Canadian citizens with OCI cards, is appreciated. Thanks.
Highly convoluted… thanks to US’s FATCA. On etfs and mf you’ll be taxed on unrealized gains.
@@yrg007 Taxed on unrealised gains too? That's weird.
@@jijijacob168 it’s true for ETFs and some MFs. If you buy stocks then it doesn’t apply.
Actually all facilities of NRE are almost eyewash.
While transferring foreign currency to India @2 Rs/ $ are lost in conversion. Same while repatriation.
So you loose everything what you gained in Interest.
Unless you have large transactions across globe, none of the schemes are investor friendly😢
Here is Summary of Video: 13 Essential Points about NRE, FCNR, and NRO Accounts
Topic: NRI Banking
Main Points:
Types of Accounts:
NRE (Non-Resident External Account): Freely repatriable
NRO (Non-Resident Ordinary Account): Restrictions on repatriation
Transferring Funds:
NRE to NRE/NRO/Other Indian SB accounts
NRO to NRO/Other Indian SB accounts
Cannot transfer NRO to NRE directly (requires documentation)
Fixed Deposits:
NRE: 1-10 years
NRO: 1 week-10 years
Taxation of Interest:
NRE: Tax-free in India
NRO: Taxable in India (applies to IR for all countries except DTA agreement countries)
TDS (Tax Deducted at Source):
NRE: No TDS on interest
NRO: TDS of 30% (may be lower with DTA agreements)
Interoperation of Accounts:
Can transfer NRE to NRO directly
Can transfer NRO to NRE with documentation
Types of Accounts:
Savings, current, RD, fixed deposit (same for NRE and NRO)
Returning NRIs:
Can transfer NRE to FCNR or RFC account upon returning to India
Cannot transfer NRO to FCNR/RFC account
Account Holders:
Single account or joint account
Joint account holder can be NRA, OCI, or resident Indian (former or survivor basis only for immediate relatives)
Currency of Account:
NRO: Indian Rupees only
NRE: Indian Rupees or foreign currencies (FCNR account)
Debit/Credit Cards:
NRE: Debit card for domestic and international use
NRO: Debit card for domestic use only
Credit cards may be secured by fixed deposits
Receiving Funds:
NRE: Remittance from outside India, other NRE accounts, proceeds of investments
NRO: Remittance from outside India, NRE/NRO/SB accounts, proceeds of investments, income generated in India
Record Keeping:
Maintain annual bank statements (electronically or physically) for proof of investments and tax purposes
Conclusion:
This video provides comprehensive information on NRI banking, covering key aspects such as account types, money transfers, taxation, record keeping, and considerations for returning NRIs. Understanding these points is essential for seamless NRI banking operations and avoiding any potential issues.
Well done ! 👍 let me buy you a kulfi 😊
What happens if NRI doesn't convert SB account to NRE/NRO? And converts it to NRE/NRO after 2yrs? If there have been transactions on that SB account both local and FX. Is there a way to rectify this?
All information under one roof. You really consolidated it very well.
Thank you for your service
Best Chanel for NRI COMMUNITY THANKS SIR FOR KEEPING US UPDATED
Sir kindly guide me
My daughter recently moved to US
Before moving to US she was holding three SB account the amount lying is mix of plain amount and fixed deposit form
Kindly suggest should I convert all sb account to NRO/NRE /FCNR account or any one account may be converted as NRE/NRO and balance two operate as SB account as usual
Pl guide
Thanks
PLEASE REPLAY ...I am going to stay in USA for 1 year as H4, now already 4 months completed. I am doing Options daily trading(cant hold) , shall I continue with out making NRE
Thank for you for a consolidated video. Very informative. Reached out on WA with more queries.
Pl. Give your view in respect of minor rights relating to grand parents who residents, but minor father and mother are NRIs. Further, in this case the child is foreign citizen because of his birth at foreign country. However, here child's parents are NRIs Nd grand parents are RESIDENTS.
Sir, I am filing my first ITR as NRI. I am having trouble adding my bank account for refund. I have NRE account and it was denied to receive refund. So what type of account I should have in order to link with ITR. Thanks
While I am thankful to the presenter and the channel for making this video. But at the same time, I like to warn every NRIs about current dubious Indian government and policies. Repatriation of money from India to any foreign country was always costly and complicated. Although after 2016 the bank related RED tape is all time high, the bank/KYC related rules are continuous changing and impossible to follow for someone living outside India.
When its comes to withdrawing money from Indian bank (specially government bank), forget about NRI, even Indian citizens are having hard time. My parents and every senior member of my family were harassed every 3-6 months with frozen accounts, just because they are not online users. Before 2014 without court approval no bank could freeze any account. But now it's legal for banks to freeze any bank account including senior citizens without any court order. Death of democracy.
Final nail in coffin, most of the banks in India are government banks. and they will never provide paperwork on time, especially the extra info for NRO/NRE/other accounts to file foreign tax. So, in case of conflict there will be court case as "you vs government of India, where no citizens (Indian or NRI) ever going to get justice.
An video on OCI card holders using NPS for retirement savings. Also is there any difference in investing in Mutual funds and NPS, I find NPS to be attractive considering the low handling charge. But do we have any short comings in NPS compared to Mutual funds.
Can gift amount received in india can be deposited in NRO account if yes what is its limit. Similarly amount borrowed can be deposited in it if yes what is its limit.
Sir i am working in Qatar since from last 10 years, still i am sending my salary to my savings account in india, please advise it's possible to convert my normal savings account to NRE account
A person is have a Saving Bank Account India. After some years, he become an N R I. He forgets to convert his existing Saving Bank Account into NRO Account. Is there any penalty in the Indian Law.
Interested ti invest in india. could you please suggest which account is better?
I think next financial year will be RNOR for 3 years. Hence, I need to know (1) what types of accounts we can maintain during these 3 years and (2) what will be the tax implications on income generated in India from NRE and FCNR accounts.
Is there any upper limit for money transfers between NRE accounts of other NRI Customers
Hi Sir, if someone going next month to canada on work permit, Please guide..Can he open nro account in advance before moving to canada
*Dr Bhat ...sir you forgot to mention "RUPAY CARD", can NRE and NRO account holders be given this option too ?*
Let .e check on this and speak on this in one of my future videos
Greatly appreciate your informative videos.
I understand that FCNR is not an account but only a fixed deposit in a foreign currency held under your NRE accounts
Also would require a clarification if the FCNR \ RFC account is tax free with respect to the interest earned for the returning NRI after his status has changed to residents?
As a nri in uk can I send my share subscribe of a company in India directly in company account by swift transfer?
Sir make a video on
Parental property in India and kids are seeing to settle abroad
How to transfer the property
*Dr Bhat ...transferring funds from NRO to NRE account , do I need to have a financial advisor or accountant? ,can the bank not just provide the forms , especially for small amounts like 5k rupees*
You need a CA as they alone have rights and licence to certify
Sir, your videos are extremely helpful and informative. Your style of explanation is simple and easy to understand.
This topic is discussed heavily among all the NRIs in various countries as there's not a single video to explain. I'm clubbing all the questions together regarding
How to safely transfer money for returning NRIs.
1. should they transfer money all in one go or in steps ( to get the better currency conversion rates )
2. In india maximum insured amount is 5 Lacs but when NRIs return back, their money will be substantially higher than this bracket. Then how to manage the large funds, is it safe to keep them NRE/FCNR accounts?
3. If NRI is say transferring 100k USD then in Rs. it will 83 Lacs then is it advisable to keep that large amount in one account or split it or invest it anywhere
4. Tax considerations regarding amount sent.
I am surprised you missed the PIS account that is required when investing in equities in Bharat through an NRE account!
Thanks for info.point # 13 is very useful for various reasons.
Why this account system is made so complicated?
Hi. Great video sir. Liked and subscribed. Two questions:
1. If I transfer funds from my NRE account to NRO account and then from my NRO account to Zerodha Demat a/c (non-PIS), how will the redemption proceedings be taxed on capital gains?
2. Can I remit that capital gains freely outside India since the base source had been NRE a/c?
*Good question I was wondering this too, I can answer question 2, you transfer zerodha to NRO then using form 15A provided by your indian bank you can transfer to your NRE account and repatriate 😊👍*
Sir I really appreciate your service very much,all very useful.I wish to know the benefits of joint venture building,for im frieghtened to rent or keep my individuel property in India.
Hi Sir, I have 3 Questions
1. The money which I'm Transferring from NRE to NRO is taxable?
2. The money which I'm Transferring from foreign bank account to NRO is taxable?
3. If an NRI to invest in Indian Mutual funds through which account(NRE or NRO) is best for future preceptive to settle back in India after some years.
1. No
2. No
3. Both NRE and NRO is fine . NRE is easily repatriable
Hello just want to know if NRO account can be convert into Local saving SB account after returning to India For Good. Reason for asking is I have investment into Mutual funds which I have done using Nro account. So if I want to redeem into the same account it will be helpful. since my investment is with Many Mutual fund house I will have to go to every house to change the account number. IF THE ACCOUNT REMAINS SAME WITH SAME BANK I NEED NOT CHANGR THE NUMBER . please advise .
Yes you can it just need to be converted from NRO to ordinary, speak to your indian bank
sir point #8 is not clear for NRO account
Can I keep my FCNR FD even when I become resident indian. Any tax implications or the interest will be tax free. Kindly advise
You can keep FCNR till maturity
Legend, thank you
I am residing outside India . Whether I need to open NRI account itself .. provided I don't want to transfer any money inside or outside India.. whether I can still hold savings account handle all my equity transactions there.. paying all taxes.. not sending anyoney outside and inside india
You must close Resident SB account and open NRE and NRO account
Excellent sir.. very clear.. sharing with friends
I am an OCI card holder. I am drawing pension in India. Whether there is any provision by which my pension can be credited to NRE account. ( Now credited to NRO account). I heard some body claiming like that subject to deduction of tax.
Can we convert an existing savings account to an NRE account?
Can we invest in stocks and mutual funds through an NRE account?
If we have an existing Demat account linked to the savings account, will it also be transferred to the NRE account?
Thanks for your videos. I am an NRI account holder. But I have a couple of joint accounts with my mother and my father who have a SB account. After I converting to an NRO account, is it yet possible to maintain a joint account with my parents having SB account, thanks
After returning from abroad, how long can I stay in India before needing to transition from NRE to NRO status, financially?
Pls kindly advise.
Pls give your valuabal advice ,how Insurance can helps throughout retirement planning 🙏
Thanks
Hello sir, Is it ok to have a joint NRI or an individual account considering tax (capital gains) implications on future transactions, if someone has properties on individual names separately? I mean is it ok to have a joint NRI account and file individual tax returns whenever transactions take place individually? Please clarify. Thanks.
What are the limits or requirements that apply while transferring or cash depositing into NRO account by individuals or from Indian resident saving accounts ?
Thank you so much for the subject information. I am an nri / foreign citizen. We are about to get some inheritance. I would like to know if you have covered these topics regarding transfering money received from inheritance either in form of cash or by selling property of parents. Please let me know if any you tube is available for me to watch or prepare a new one.
Thanks
Anil
Hello @NRI Money Clinic,
What if I transfer money from Australia to an NRO Account in India and trade/invest in the US stock market from the NRO Account? Will I have to pay tax? If yes, then how much tax will I have to pay to the Indian government?
Thanks
Hi sir very informative video, I was also watching your video on how to transfer money from NRO TO NRE account as well , my query is- I bought a land back in 2015 in India and I sold it out yesterday. Back in 2015 I didn’t have NRE account so I transferred the money to my NRE account and and purchased the land, now that I have an NRO account now which I opened couple of years ago.so can I transfer this money back to my NRE account without paying tax or filing out those documents?
Thank you so much for your valuable advice.
Sir, How to pay our Home loans in India, is it possible Ecs deduction through our Savings account? Or
In NRO account we have to do give Ecs deduction for loans?
Question: If I am selling my property in NZ and want to transfer funds from sale of proceeds around 1.5Cr should I transfer to NRE or NRO of my axis bank? I would like to make a fixed deposit of that funds in near future in India. Which is the better account for tax savings.
I want to open an FD in NRE or FCRN account. I want that the interest earned in this FD should be deposited in the account of my father. Is this possible ?
An NRI working in Singapore earning salary in Singapore Salary account, transfers the part of salary to Indian NRO account, how does the tax apply in India?, as already tax being deducted in Singapore every year for the earned salary in Singapore.
It's very complicated process here in gulf many people have not open nre accounts who earning 50k per month
Luckily, I got all the answers for my questions running in my mind. Thank your very much
Dear Sir, am a PR in canada, could you please clarify whether the interests earned on NRE accounts in India needs to be reported in Canada and is that taxable in Canada? Thank you
What happens if I have NRE FDs in India and then I come back to India and close these FDs after I become a resident after 6 months of return to India. The interest is paid then - do I have to declare this interest income in India and pay Income Tax, is TDS deducted on those?
Thank you very much sir for providing valuable and insightful information especially point numbers from 9 onwards....
If possible could you please do a video on GIFT city Opportunities for NRIs
Thank you sir...have a great time ahead
Very informative! Please advise if the earnings from Mutual Funds investment can be credited in NRE S/B account?
Can I transfer money from my NRE account to my spouse’s NRE account? Both of us have our accounts with the same bank.
If a NRI is resident iof UAE , under DTAA is Income / Capital Gains from Mutual funds taxable in India ?
I have a question about the Pilicy linked investments done through NRE accounts. How do those gains get taxed and where (india or US)
Can u pl let me know whether u are conversant with USA tax laws as regards transfer from new account in Indian bank to his USA account restrictions etc
Once I permanently return to India
Can I convert Nre account deposit to Fcnr or Rfc for future use of my child education outside India
Is any restriction?
Is Rental money 100k collected in NRO account taxable?
Can an Indian staying in US (on H or L visa) can maintain or open a simple SB account in India? Is there any restriction?
Sir, thanks for the nice informative video and can you please do one video on who is planning to switch to other country citizen then what all the things he may loose and also in terms of taxation on existing home loan, property, mutual and stocks.. or if he wants to buy new properties or any stock market investment..
Sir. PPF interest which is free in India, will this interest be added to US income and taxed
Thanks for the crucial points!
You have not stated how much troublesome and costly it is to transfer from own nro to own nre account.
how can i close SB ACCOUNTS IN iNDIA, While i am in canada
Could you please make video on NRI living in UK related to Taxation in India?
thank you for content : Respectfully and much appreciated for all the clarity given on each and every video .
How much maximum money can I transfer in NRO account in one transaction from USA
If i get interest on NRE FD in india. Will that be taxable in Canada?
Well explained really appreciate it thanks for information 🙏
Can we open any of these accounts from a foreign country where we are living.
You can , but each bank may have ots own process
Hi,I am a banker working in State Bank of India,NRI BRANCH & we deals with NRIs only.In case of any financial,banking, investment or taxation needs or query,you can reach out to us on email sbi.13482@sbi.co.in.
Hi Many thanksYou make NRI & OCI life easier advice’s with hidden details, millions thanks 🙏🏻, I would like to know I’m OCI live in UK , I invested in purchasing property in india, some reason even after agreement due they’ve excuses to hand over , if they refund Amount I paid through NRE A/C will that be taxed 😢, I’m so worried all my hard earnings will be taxed again. I do have print out sheets all payments done through NRE A/c , Thank you pls kindly Advise 🙏🏻😔
Please consult a chartered accountant on this issue
Very useful. Shared this video with NRI relatives.
Sir.....I m badly in need of scholarship for my daughter currently studying in uk....doing PhD in marine scientist
Excellent video. Thank you sir
That you wise topic and very valuable information
Sincere question sir - If NRO FD has 35 lacs and generates 2.5 lacs yearly interest, India is not taxing as it is within tax exempt slab. In other words we are getting TDS refund when filing taxes. Should we show this NRO interest to USA ? My understanding is both countries have DTAA double tax avoidance treaty.
To best of my knowledge and understanding, you are required to show this in USA . For clear answers please refer to a CPA in US
After a Non Resident becomes resident , , for how many years or how long can continue to hold NRE ACCOUNT?
There is a detailed video on this subject on this channel. Please watch and be guided
Very informative 😊. Thanks
Thanks for the much needed info!
A quick question:
Is there a limit to transfer money from a joint account (outside India) to NRE account?
I recently learned that sending from joint account to relative's account is not considered gift - hence my question. Appreciate your advise!
Please consult a chartered accountant on this topic
sir great presentation, spotless, very useful, thank u
very excellent please issue video USA country specific on having health insurance policy for NRI in india and abroad
Thank you very much for your suggestion on topic and the feedback
Very comprehensive and useful !
WOW very nice deep clear information for NRE & NRO & FCNR accounts....amazing . This will help many people and remove their confusion.
Great job. Great video 👍 & explanation 👌👌👌
Hi,I am a banker working in State Bank of India,NRI BRANCH & we deals with NRIs only.In case of any financial,banking, investment or taxation needs or query,you can reach out to us on email sbi.13482@sbi.co.in.
Very well explained, thanks
Good content as always. Can you cover Tax harvesting in equities where the stock has been delisted ( how to show booking of loss since stock can no longer be sold on the exchange)
Your feedback noted . Will try to explore on this topic
I have a life insurance what you say which is I should pay tax or not the went from NRI account
It was ibs life
you mentioned it's advisable for NRI to hold joint accounts on "former or survivor basis".. what I would like to what is difference one may face if the NRI has a nominee mentioned in the accounts and MFs he holds. What is the implications between the two... thanks
Nominee will become owner of monies if both account holders dont exist
@NRIMoneyClinic does that mean that if you are a single account holder and has nominated a nominee than that legally good enough ( as good as holding a "former or survivor basis a/c)
Execllent video sir