Dear Sir, Thank you so much for your excellent advice on returning NRIs. Every minute of your video is so valuable and useful to all expats. I will definitely follow all the guidelines and precautions you have explained in this video and also in the earlier ones.. Thanks again...Kindest regards, Venkat-R
Good advice thanks All the points were excellent but the last point was Bonus Point I will never forget. Thsnks Dr. Chandrakantha for excellent advice.
Well said on relationship managers as there is not much prof. fin advisors in india, so some naive returnees can think by mistake relationship managers as financial advisors .need to be very careful on this...
I have a OCI status with NRE account and FDs in India. I wish to return to India but keep my US passport/citizenship. If i wish to leave half of my savings in USD in USA in a bank and in stocks, whenever i move these funds back to India in future, will i be taxed on the same in India ? Also do i get the RNOR status when i return to India ? Thanks !
For your answers please watch my video by name Finance Act 2020 April update on my channel . You will be eligible for RNOR status if you satisy the conditions . It is eligible for OCI. Regarding taxation of assets in US depends on your citizen ship issues and Double Tax Avoidance Agreement between India and USA . If you have a specific issue , send it on my my WhatsApp 00971 50 14845
Dear Sir, Thank you very much for video series, you explained complex logic in simple terms. My doubt is if an NRI is returning back to India within 4 years, he/she is liable to pay tax on income earned in foreign country ? Thank you. Suggestion required how to reduce tax implication or save hard earned money.
Thank you very much for educating all through your excellent videos. If you close the NRE Account, how can we transfer money from incomes or any left over distributions from a foreign country to Resident Indian account. For example, 401K distribution or any other amounts.
Sir, As you said, upon returning to India we need to visit bank at least within 3 months and declare about the change in status. Is there any issue/penalty if I delay visiting bank but not exceeding 6 months?
Sir all your explanations are very clear thank you very much Just one clarification required If we have joint NRE NrO Demat trading but only second a:c holder is cancelling visa and losing NRI status what is the procedure for both primary and secondary holder
Sir, I came to India Sept 2018 after nearly 23 years working outside in different countries. I couldn’t go back. I converted by NRE SB account in October 2019. Now I am planning to file ITR for 2019 -20 for the SB interest earned since reached India. Do I need to do any procedure for the principle amount in my SB account?
Hello Sir, your channel is very informative. I am looking to change my residency to India from UK. I would like to take my belongs including my Cars and alkohol collection. Please could you advise the best way for me. Many thanks
If a usa citizen staying in India since 2 years and paying taxes as a resident and is a senior citizen planning not to go back Can he or she invest in senior citizen saving schemes
Sir my UAE visa was canceled in Feb 2019 and I got new appointment letter from UAE but working from India from last year 2019 because of Covid-19. and still I have not converted my NRE account, what will happen sir..any issue?
Sir one more question what if somebody has NRI status and work permit of country which is not part of DTTA agreement with India . Money deposited in NRE account is subject to tax
@@NRIMoneyClinic money earned as salary after paying the tax in the country not having DTTA agreements he will have to pay another tax in India In case he is depositing fund in NRE account .
Sir, I am 60 years old ,retiredfrom service from ksa.my retirement benifs 7 lacks, iwillne staying in india, am I eligible for scss scheme. Please send details Thank you sir
@@NRIMoneyClinic dear sir, i am now 58 yrs. Living in Singapore. I and my wife plan to settle back in india, in navi Mumbai or Pune. I need to plan my cash flow for my retirement. I don't have any pension. But will live of my lump sum saving. I will need a CA for advice on taxation and financial planner to guide me on my future. Please advice. I plan to move in a year or so.
So FD interest gor all 10 years to be taxed? What if I shited to india after 8 years of my 10 yr FD with all accumulated interest to be received upon maturity?
Sir for minimum of how many years we need to operate NRE account for example if I have to come back one year or after 6 months from the date of opening the NRE and NRO account
Dear Sir, Thank you so much for your excellent advice on returning NRIs. Every minute of your video is so valuable and useful to all expats. I will definitely follow all the guidelines and precautions you have explained in this video and also in the earlier ones.. Thanks again...Kindest regards, Venkat-R
Thank you very much for your kind words. Your words are inspiring. God bless
Good advice thanks
All the points were excellent but the last point was Bonus Point I will never forget. Thsnks Dr. Chandrakantha for excellent advice.
Dear sir it's really useful for NRI's . THANKS
Welcome.. Please subscribe and keep sharing the videos
getting excellant info thru your videos , thank you so much🙏
Thsnk you so much . Please subscribe and keep sharing the videos
Well said on relationship managers as there is not much prof. fin advisors in india, so some naive returnees can think by mistake relationship managers as financial advisors .need to be very careful on this...
Absolutely
thanks for the very good information
I have a OCI status with NRE account and FDs in India. I wish to return to India but keep my US passport/citizenship. If i wish to leave half of my savings in USD in USA in a bank and in stocks, whenever i move these funds back to India in future, will i be taxed on the same in India ? Also do i get the RNOR status when i return to India ? Thanks !
For your answers please watch my video by name Finance Act 2020 April update on my channel .
You will be eligible for RNOR status if you satisy the conditions . It is eligible for OCI.
Regarding taxation of assets in US depends on your citizen ship issues and Double Tax Avoidance Agreement between India and USA . If you have a specific issue , send it on my my WhatsApp 00971 50 14845
Dear Sir, Thank you very much for video series, you explained complex logic in simple terms. My doubt is if an NRI is returning back to India within 4 years, he/she is liable to pay tax on income earned in foreign country ? Thank you. Suggestion required how to reduce tax implication or save hard earned money.
Please watch my series on Returning NRIs - How to reduce tax impact . Thanks for suggesting the subject .
Definitely, shouldn't trust relationship managers in banks at all
Thank you very much for educating all through your excellent videos.
If you close the NRE Account, how can we transfer money from incomes or any left over distributions from a foreign country to Resident Indian account. For example, 401K distribution or any other amounts.
Very much useful
Thanks for vedio
Sir, As you said, upon returning to India we need to visit bank at least within 3 months and declare about the change in status. Is there any issue/penalty if I delay visiting bank but not exceeding 6 months?
Sir all your explanations are very clear thank you very much Just one clarification required If we have joint NRE NrO Demat trading but only second a:c holder is cancelling visa and losing NRI status what is the procedure for both primary and secondary holder
Sir, I came to India Sept 2018 after nearly 23 years working outside in different countries. I couldn’t go back. I converted by NRE SB account in October 2019. Now I am planning to file ITR for 2019 -20 for the SB interest earned since reached India. Do I need to do any procedure for the principle amount in my SB account?
Please talk to and avail the services of a chartered accountant to file your returns . It is the domain of a chartered accountant
Hello Sir, your channel is very informative. I am looking to change my residency to India from UK. I would like to take my belongs including my Cars and alkohol collection. Please could you advise the best way for me. Many thanks
If you are a US citizen with OCI shifting back to India, are you allowed to keep NRE/NRO accounts open?
If a usa citizen staying in India since 2 years and paying taxes as a resident and is a senior citizen planning not to go back
Can he or she invest in senior citizen saving schemes
Sir my UAE visa was canceled in Feb 2019 and I got new appointment letter from UAE but working from India from last year 2019 because of Covid-19. and still I have not converted my NRE account, what will happen sir..any issue?
Most bankers are not clear on these matters.
Thank you sir..
Most welcome
100% true video. People waiting to cheat NRI in ind.
Thank you for endorsing. Please subscribe and keep sharing the videos
I put money in NRI how can transfer money on my debit card.
Sir one more question what if somebody has NRI status and work permit of country which is not part of DTTA agreement with India . Money deposited in NRE account is subject to tax
Depositing money in NRE account is not taxable . Your income is subject to aplicable tax provisions as per DTAA .
@@NRIMoneyClinic money earned as salary after paying the tax in the country not having DTTA agreements he will have to pay another tax in India In case he is depositing fund in NRE account .
No
Sir, I am 60 years old ,retiredfrom service from ksa.my retirement benifs 7 lacks, iwillne staying in india, am I eligible for scss scheme. Please send details
Thank you sir
You can invest in Pradhan Manthri Vaya Vandana Yojana Scheme through LIC of India. Walk into one of their branches or buy online
@@NRIMoneyClinic dear sir, i am now 58 yrs. Living in Singapore. I and my wife plan to settle back in india, in navi Mumbai or Pune. I need to plan my cash flow for my retirement. I don't have any pension. But will live of my lump sum saving. I will need a CA for advice on taxation and financial planner to guide me on my future. Please advice. I plan to move in a year or so.
Sir can NRI purchase Health insurance??? If I hospitaled in other countrie then can I clam insurance?
Sir...how to change nre account to savings after visa cancellation
Sir ..Can I change my nre account to indian saving account in online?
So FD interest gor all 10 years to be taxed? What if I shited to india after 8 years of my 10 yr FD with all accumulated interest to be received upon maturity?
Sir can investment be done in Govt schemes like PMVVY in RNOR status?
Sir for minimum of how many years we need to operate NRE account for example if I have to come back one year or after 6 months from the date of opening the NRE and NRO account
No such condition exists . Please subscribe and keep sharing the videos
@@NRIMoneyClinic ok thank you sir
Sir, any advise on withdrawing 401k once back and common pitfalls?
You need to check about it with your financial planner in US. Please subscribe and keep sharing the videos
You should be havin a lot of knowledge
If not convert nre to resident within 3 months what will happen sir..any issue ??
You will be violating FEMA law . Interest becomes taxable . Not advisable . Please subscribe and keep sharing the videos
Is agriculture income repatriyable from India
There are detailed videos on this channel on this subject. Please watch and be guided
Good evening sir....your videos are very informative,I will contact you soon on the mentioned watsapp number... regards
Thank you for your kind words. You are most welcome to contact. Please subscribe and share these videos