NRI Financial Planning - FCNR, RNOR, 401k, Remittance, Double Taxation back to India

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  • เผยแพร่เมื่อ 2 ส.ค. 2024
  • In this expert advice, we host a Q&A session featuring Dr. Chandrakantha Bhat, focusing on diverse subjects concerning financial planning for individuals residing abroad and contemplating a return to India. The episode delves into an array of commonly asked questions, providing ample insights. A special thanks to @NRIMoneyClinic for their participation in the show and for imparting their invaluable expertise.
    Here’s some of the topics we covered:
    How do people plan their finances when they have plans to move from one country to another country?
    How to plan for moving assets from one country to another country?
    Info about RNOR status
    Info about FCNR account
    Info about 401k accounts
    How to move liquid accounts?
    Any restrictions on FCNR accounts?
    Info about Double taxation avoidance
    Term life insurance planning
    Health insurance planning
    One can reach Dr. Chandrakantha Bhat and Tejas Bhat at NRImoneyclinic.com or wa.link/2jh25k
    Videos mentioned in the episode.
    Playlist for NRI's - • NRI's planning to shif...
    RNOR - • RNOR STATUS FOR NRIs -...
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    ✅ About Desi Return.
    Our mission is to provide support and guidance for Non-Resident Indians (NRIs) who are considering or planning to return to India. We share informative and engaging content about frequently asked questions related to finance, culture, job opportunities, real estate etc.,. Our goal is to help you make an informed decision about your move to India and to ensure a smooth transition back to your home country.
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ความคิดเห็น • 23

  • @MONROEJACQ
    @MONROEJACQ 4 หลายเดือนก่อน +8

    Great video, one that folks really need to watch. I' m 50, retired a while at 45. 1 have 35% of my capital invstments in an IRA. 25% in index funds, and the balance spread across other investment acts. in cumulative of over $ 5M. I receive income from my rental properties too. Zero debt and all is going accordingly. My financial consultant has been patient and has done a wonderful job for me throughout the years.

    • @camela8445
      @camela8445 4 หลายเดือนก่อน

      indeed, most people downplay the roles of financial planners until burnt by there mistakes.
      Productivity is optimized and keeping up to date strategies and analysis makes it more lucrative.
      I've been able to navigate the volatilities and scaled up 880k from 220k with professiona

    • @louisahernandez
      @louisahernandez 4 หลายเดือนก่อน

      Honestly this cannot be overemphasized, helping people mitigate unforseen
      circumstances and mistakes It's always good to have a financial plan,

    • @Andres_853
      @Andres_853 4 หลายเดือนก่อน

      Please could you guide me on how to get in touch with your consultant? My funds are being eroded by inflation and I seek a more lucrative investment strategy to effectively utilize before I consider retirement

    • @Andres_853
      @Andres_853 4 หลายเดือนก่อน

      Nathan Travis Cook

    • @louisahernandez
      @louisahernandez 4 หลายเดือนก่อน

      Oh Nathan Travis Cook... I've come across this name a couple times. Very good with international opportunities

  • @etldev6981
    @etldev6981 3 หลายเดือนก่อน +1

    Can you make a clear video on Keeping NRE account for 2 years after returning to india from USA. Should we start filing tax returns as soon as we move to india while status is RNOR. Should we move 90% of money from abroad to india in same year or multiple years to save taxes from india IT.

  • @jayushah11
    @jayushah11 4 หลายเดือนก่อน +1

    Nice informative video, just a quick question does Social Security Payments from USA government tax paybale in India? FYI, my parents are moved back from USA and living in India on permanant and basis and they will be receiving social security payments from usa governement on regular monthly basis.

    • @DesiReturn
      @DesiReturn  4 หลายเดือนก่อน

      Thanks. Yes SS payments are taxable in India is my understanding. Are your parents USC or Indian citizens? There was lot of discussion on SS payments for Indian citizens after completing all requirements so want to confirm

    • @jayushah11
      @jayushah11 4 หลายเดือนก่อน +1

      @@DesiReturn thanks, my parents are US citizens living in India.

  • @etldev6981
    @etldev6981 4 หลายเดือนก่อน +2

    If we have NRE account already and can we continue keeping it as NRE account during RNOR status/period and not get taxed in india for 2 years?

    • @DesiReturn
      @DesiReturn  4 หลายเดือนก่อน

      I believe you have to convert it to regular account or FCNR after 6 months of staying in India

    • @etldev6981
      @etldev6981 3 หลายเดือนก่อน

      @@DesiReturn but RNOR status is for 2 years right. Interest amount on this NRE FD will be start taxed after 7th month of return. Can you please find out right answer on when to close NRE account and move that money to resident account after return. Is it 6 months or 2 years since RNOR.

  • @winobeee
    @winobeee 4 หลายเดือนก่อน +2

    I don’t understand why I have to pay taxes on the money in my USA bank account when I move it over to India…this is after tax money! I have paid taxes on this already..why would India tax me again? I thought India had double taxation avoidance treaty with USA?

    • @Neelsworld2022
      @Neelsworld2022 4 หลายเดือนก่อน +2

      You don't have to pay taxes on the money you earned in USA. US has tax treaty with India

    • @DesiReturn
      @DesiReturn  4 หลายเดือนก่อน +1

      Yes one doesn't pay any more tax in India on the after tax money in US ( money in bank accounts)

    • @winobeee
      @winobeee 4 หลายเดือนก่อน +2

      @@DesiReturn awesome thanks for letting me know!

  • @vickyyvr7927
    @vickyyvr7927 3 หลายเดือนก่อน +2

    What about OCI holders who are citizens of Other countries , who wants to moving back to India.

    • @DesiReturn
      @DesiReturn  3 หลายเดือนก่อน

      What is the exact question? People with other citizenship move to India under OCI.