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Latest Questions

Q: What are the tax policies on fixed deposits for an NRI?

A: Interest on Fixed deposit is chargeable to tax under the head income from other sources. Generally, the bank will deduct tax at source @ 10% from the interest.

Q: Which is the best way to start investing in the Indian markets?

A: For instruments of equity you should have a minimum time horizon of 5 years. Returns expected can be anything between 20-30% per annum on a compounded basis. In case you are planning on short term...

Q: Can an NRI use his PIO status to gain dual citizenship i.e Indian citizenship and citizenship in his country of residence?

A: A bill is passed to grant the dual citizenship to PIOs and has got approved by the president, and this will help grant to PIOs of full age and their children dual citizenship. However, The rules,...

Q: What is the procedure for an NRI to acquire immovable property in India by way of lease or not exceeding 5 years?

A: There is no difference in the procedure. It's the same as any other Indian citizen would buy the property.

Q: What are the tax implications for an NRI to sell the property in India purchased before 10 years and can we repatriate the entire proceeds of about INR 60 lakhs out of India?

A: Before allowing any remittance to take place from India, the banker (authorised dealer) will need to ensure that the necessary taxes are paid on that amount. For this, the Govt has prescribed Form...

Q: Can i transfer money from my NRE account to spouse NRE account?

A: Yes, you can transfer money from your NRE account to your’ s spouse NRE account with the same or different bank.

Q: Can NRIs invest in post office schemes like NSC, KVP, MIS and PPF

A: According to RBI guidelines NRIs are not permitted to invest in Small Savings or Public Provident Fund.

Q: Can NRIs invest in mutual funds?

A: You can invest by issuing a cheque against your NRE accounts. If you wish to repatriate your earnings abroad then you could invest funds through your NRE/FCNR Account. You could also issue an...

Q: Is there a limit to the percentage of shares that an NRI can purchase?

A: Yes, there is. However the percentage of shares vary from sector to sector. Shares can be purchased through the Foreign Direct Investment Route.

Q: I want to sell a property in India which I jointly own with my mother. I am paying all the mortgage amount as my mother has no incoome. I am an overseas citizen now. I have send my mother with power of attorney signed and sealed by the consulate. Do I have to pay taxes on sale of property, is there any way around it?

A: Yes, you will have to pay tax (short term or long term capital gains tax) on the total profit made by sale of the property. You can avoid this tax only if your current property is a residential...