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Q: What are the regulations for NRIs to invest in India?

A: NRIs can invest in the Indian stock market only though the Portfolio Investment Scheme (PIS) All secondary market transactions have to be reported to RBI. Investments can be made on a repatriable...

Q: Who can be joint holders in PIS permission?

A: In NRE PIS account all NRIs can be joint holders. But in NRO PIS account joint holders can be resident holders only on former or survivor basis.

Q: Can shares hold in NRO demat account be transferred to NRE demat account?

A: No, NRO shares cannot be transferred to NRE Demat account.

Q: Is capital gains tax applicable on stock investments by NRIs?

A: Yes, capital gains tax is applicable on stock investments by NRIs, the long term capital gains tax is 10% and the short term capital gains tax is 15%.

Q: What is the criteria of ESOP share sell for NRIs?

A: * In case of sale of ESOP shares, Fair Market Value will be considered as Cost of Purchase provided Perquisite tax has been paid in India. * In case of perquisite tax is not paid in India, Grant...

Q: When should i pay taxes on my income?

A: The taxes on income can be finalized only on the completion of the previous year. However, to enable a regular flow of funds and for easing the process of collection of taxes, Income-tax Act has...

Q: Can I claim a deduction for my personal loan and household expenditure while calculating my taxable income?

A: No, you cannot claim the deduction of personal expenses while computing the taxable income. While computing income under various heads, the deduction can be claimed only for those expenses which...

Q: What is rebate under section 87A and who can claim it?

A: An individual who is resident in India and whose total income does not exceed Rs. 5,00,000 is entitled to claim rebate under section 87A. Rebate under section 87A is available in the form of a...

Q: Can an NRI claim rebate under section 87A?

A: Rebate under Section 87A is available only to the resident Indians, so an NRI cannot claim rebate under section 87A.

Q: Can an individual resident Indian borrow money from NRI?

A: An individual resident Indian, may borrow in rupees on non-repatriation basis from an NRI or a PIO, subject to the fulfillment of certain conditions such as the period of loan shall not exceed 3...