Repatriation Scheme For NRIs - 1 Million Dollar Scheme - By CA Sriram
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- เผยแพร่เมื่อ 15 ต.ค. 2021
- #nri #nrimoneyclinic #financialplanning
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Both gentlemen are providing a wealth of knowledge here. The interviewer is intelligently asking questions to the guest and then summarizing his answers very wisely. Overall a brilliant video for all NRIs like me who have some asset in India and wish to repatriate them abroad. Than you very much gentlemen for the video 🙏
Thank you very much for your kind words . Keep warching
Onw question if you are inherited money from parents including sale of stocks,mutual funds is this scheme applicable?
Same. Very brilliant interview and answers @ CA Sir, money is originally transferred from US bought property for Parents in mom name. How to repatriate money to US after sale?
@@NRIMoneyClinic If I get a gift amount of Rs.4Cr from my uncle and would like to transfer the whole amount to my US Bank. Can I gift 2Cr to my wife’s NRO account in the same year and we both transfer our money to individual NRO accounts, and each stay under $250K LRS limit and remit the entire amount to our US bank account held jointly ? Will this be acceptable under FEMA and remain within RBI guidelines? Please advise.
Dr Bhat thanks for presenting eminent taxation specialist professionals and adding to their interpretation. Much appreciated.
Beautiful subject and quite interesting and informative. Thanks to you both for sharing this knowledge.
Both deserve rich compliments for the excellent information & briefing on repatriation subject in a crystal clear manner. Thank you sirs
This video cleared lot of my doubts and misinformations. I am thankful to you all for providing valuble information, taking time and effort to compile all these well orchestrated useful videos amidst your busy schedules. Not only that, what is very admirable is the fact that you, Mr. Sriram especialy, go through the comments and answer the relevant questions raised by your "dear veiwers". You tube is enriched by you!
Very clear Video. Thank you. No-Nonsense straightforward discussion. Good interviewer and Great Guest.
Dr Bhat is one of the best interviewers I have seen. Simply great 👍
Excellent interview. thanks to Dr. Bhat and CA Sriram for giving pertinent information. Great questions and detailed relevant answers. Very useful video for NRIs. Must watch.
Both are doing a great job explaining.
Thank you Mr. Bhat and Mr. SriRam. I find your videos extremely useful and informative. Great content like always ...
As usual very good info. Great video and very well explained.
Really informative video. Thank you for creating. It cleared most of my doubts about repatriation from India to outside.
Excellent video and detailed information...well done both of you 👌 thanks 😊
Very clearly explained. Both of you did a very good job. I see the threshold for not requiring 15CB is still 5 lakh rupees. I wish they increase it, especially now that the USD has gone up so much against the INR. 5 lakh rupees is just approximately $6000.
This is exactly what I needed to clear up
Very informative video, many thanks Dr. Chandrakanth and Sriram👍
This session is very informative, it clarifies lot of questions for NRE’s how they can repatriate their assets got by inheritance.
Very informative,Thank you for choosing this subject
Your channel is a gold-mine of knowledge. Saves me a lot of time in my financial planning. Thank you!
Very useful information. I'm in Paris.
Merci beaucoup monsieur.
Fantastic video. So informative. Thank you!
It is always a nice setting in which you both speak things in details and with clarity. Thanks
Thank you sir. Great video explaining all the details of fund transfer for NRIs
Very clear and clarifies all doubts.
Very informative and educational. Excellent video
Very lucid. Informative. Dr Bhatt’s further interpretation is very helpful.
Thank you so much both of you, learned professionals. …Dr Tangri
These are so useful video series. Thanks for creating these. Answering so many of my questions.
Thank you Mr. Sriram. Very informational.
excellent information...to help NRI,s.....thank yiu
This is a fantastic video as the follow up questions by the interviewer are very appropriately asked thereby providing a summary at every section.
This will help every NRI seeing this video.
Excellent information,Thanks
Thanku Sirs for explaining so clearly. Many of my questions are answered 🙏🏻👍👍
Excellent video very useful. Please continue with these kind of videos.
you both are great and give clear guidance to the viewers. well done.
Thanks for the excellent show .
Excellent discussion
You can also transfer fund to your NRE account Under the same procedure and later transfer in foreign exchange at your chosen time.
This is the exact information which I required. Thank you so much!
Hello friend, Can you tell me how to apply this (1 million dollar scheme)?
There is a specific video on 1 million dollar scheme on this channel. Please watch and be guided
Very nice Interview. Thanks.
Very Informative !!! Thanks.
Very informative :) Thanks!
Clear explanation. Thank u.
Thank you so much for this informative video.
Very informative.. Thank u!
Really great video, and presented in really informative manner. Covered many aspects and guided with examples like what is condition, what is limit, what is covered under this scheme and what is not. Thank you so much for this kind of great vidoe where everythingis explained simply yet in detail.
Valuable information.
Clear explanation.Nice
Thanks both of you for quite interesting and informative subject i enjoyed the subject and solve my problems. Thank you very much once again.🎉
Thank you very much Sir.
This was a very informative video. Kindly shed some light on the fees associated with repatriation as the usual method of repatriation through bank (where the account is held) is very costly in terms of high fees and unfavorable exchange rates. Is there an alternative method that could save NRIs some cost on repatriation?
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Thanks sir g Excellent information this video
Very good and clear information
Thanks a lot for very nice information.
Thank you so much for information.
This has been my biggest worry, especially being 2nd generation nri, I had heard of this but wasn't sure, thanks for bringing it up
Excellent questions and superbly answered. Thank you so much to both! 🙏
This is super awesome and clearly explained
Excellent post with quality inputs for the benefit of your NRI followers.
Thank you very much for your kind words
Hello friend, Can you tell me how to apply this (1 million dollar scheme)?
Thank you very much
Very informative
Very informative session.
Very informative!
Excellent presentation
Brilliant insights
Nice information
Really helpful..
Please bring a video on Wire Transfer and how it could be done from GCC countries. Which currencies can be transferred and your recommendation on the currency. How long the foreign currencies Transfered via wire can be kept in NRE Account and when to make FCNR deposit. Also talk about Nostro account, FCNR deposit. Please advise on whether the foreign currencies to be booked for Term Deposit or to go for FCNR B forward contract. Why do bank prefers NRI to send USD to their bank directly from overseas account? Thanks
Very gd explanation thank you
Dr. Bhat you have been doing a great job and the expert is possessing good knowledge on the subject. My only request to you to please allow him to speak more rather than you except the asking of questions but no repetitions from you end. Hope, you shall not take otherwise. Thanks.
very nice presentation sir, very much in detail....
i have few doubts..for stocks and mf investments is it NRO non PIS account is enough..? and the source of income for NRO account can be NRE or directly from the foreign country....? or it has to be from India
Very useful information
❤❤❤ amazing work
Excellent job
Great Sir
But when that money is received by an American bank, it is considered as income and income taxes at that applicable bracket is levied on that money for that year. And if you are living in Ca or NY or England, 65% goes to the government as taxes.
This is the best Video: With regards to Money :
very informative
Must
Knowledge.
Please:
Work on these kinds of :
Programs for NRI;
Money/Funds/Banking;
-Regards to property matters;
- Tax
-Insurance etc.
-Medical/Health etc.
Thank you.🙏
Sure , we will work on these lines
This is an excellent video with tons of new knowledge. But I have a doubt. If an NRI has assets in the form of gold, say 50 sovereigns of ornaments, will this also qualify for transer to his home abroad as per this "1 Million transfer" rule?
Thank You 🙏
Thanks Sir for informative guidance , can you kindly suggest us the single point contact to approach, so that we can save our time for all our remittance for NRIs
Ver informative and well-made video. For US remittance, after we have already paid taxes on Indian Funds, and when I repatriate funds to a US bank account, do you know if the US also applies taxes on the money that just landed in my account? What are the US-India taxation laws on this transfer?
Pls enable CC in your videos so that Senior Citizens finds it easier to understand
The are speaking English, do you still require CC 😂
Good information
Thanks for detailed information on repatriation of funds by OCI card holder from India to overseas bank account held by the same OCI card holder. Next question is that if an NRI is running a business in India and earning money out of it. Is it possible to repatriate the funds from the earnings of the business?????
Thanks sir , Please can you update the contents as per the latest TCS
Excellent
Very good video, but I couldn't get answer of question in mind that should we need to pay tax to the country like US for transfered asset/fund?
Both the Schemes - for LTS and MDS have specified annual limits and are those that require no prior clearance at RBI level and transactable at AD level. In the event an NRI/OCI is a very senior citizen and needs more funds repatriated in the fiscal year beyond this limit - one presumes they can approach the RBI under the related FEMA law for permission to repatriate more funds - or are these limits beyond which no remittance application would be permitted ??
Sir plz make a video on seafarers taxation process and saving
Tax implications after the transfer? Source country or destination country or both?
Thank you for this clarification, do you have any reputable forex dealers…
How about resident siblings gifts to nro? Can it be transfered from Resident account to NRO acct and then to outside? Submit 15CA 15CB and A2 and say it's NOT TAXABLE by filling part D of CA since its tax paid in hands of resident and its gift to NRI AND TAX FREE?
Sir thanks
Thanks for the information. If a NRI remits funds from foreign account to a Resident as a loan, then can the NRI use the 1 million dollar scheme to repatriate the loan repayment by residents.
Can i trade in stocks as an nri and repatriate the funds to foreign bank
How about assets in terms of ancestral gold jewelry or artwork which may have antique value?
A. slightly out of context query: Does spending using NRE Debit/Credit Card outside India count as purchase of Foreign Currency in the eye's of ITD?
Good explanation. Well done 👍.
However, information is incomplete. A person from agriculture family, can buy agriculture land being an NRI. There are several laws which are clashing between themselves when it comes to agricultural land. Everything can’t be fulfilled.
In my opinion, you start to unfold land acquisition act and 70B etc ( which doesn’t exist now) then club it together with it would be good. Normal flat, comercial property etc can be sold
And easily transferred. It becomes complicated when it has to do with agriculture land. Thanks for the update
Normally, in law, there is a concept of specific overruling general law... I was not talking from the point of view of land acquisition act at all... There are specific regulation under FEMA in which it is specifically laid down that a NRI/OCI/Foreign National can not purchase agricultural & plantation property. Yes, as on date, land acquisition act allows almost anybody to purchase agricultural land in India, however, FEMA being a specific law which lays down regulations prohibiting a NRI from purchase of agricultural and planation property, it would definitely override general law (i.e. land acquisition act). You can refer to RBI master direction 12 on this issue which lays down clear law of land in India.
It is for sure that FEMA prohibits a NRI/OCI from acquisition of agricultural land and plantation property by way of purchase or gift. There is no exception to this rule under FEMA even for an NRI who is from agricultural family. However, a NRI/OCI can acquire agricultural land by way of inheritance and FEMA allows the same.
If parents are gifting money from India to USA for down payment of house to be purchased in USA, how will it be taxed? Are the gift tax applicable for the source?
Very informative video. Can I, as an OCI repatriate funds after sale of inherited property (after paying the necessary taxes) to Australia, where I reside? Does this 1 million scheme still apply?Thanks
Sir... Pls make a video how a NRI transfer money for inviting in USA STOCK market.. thanks
1. If parents wish to gift money to their independent adult NRI children , can they gift to children to their NRO account and then the NRI kids can use one million dollar scheme to transfer this gift .
2. If adult single NRI child inherits a house or FDs from parents, how can they ( children ) transfer funds to their country of stay as NRI ?
Very timely and relevant topic. CA Sriram has deep knowledge on the topic and deserves full appreciation.
But Dr. Bhatt must focus fully on discussion for individuals and understand the scheme as it is fully. And then go into tangential, isosteric, peculiar questions or doubts like gambling money, loan amount etc. For corporates etc., there can be a separate discussion. Most of his viewers I believe are ordinary, law abiding, straight forward NRIs and not smugglers or black money holders!!