Q: How much foreign currency can an NRI bring along with him on his/her visit to India, without customs declaration form (CDF)?
A: An individual NRI can bring USD 10,000/- or equivalent (in the form of FCTC/FC) of which maximum USD 5000/-can be in the form of currency notes without declaring the same in CDF. Any amount in...
Q: Are there any charges while remitting the FCNR proceeds abroad?
A: No, commissions are levied while remitting the FCNR proceeds on maturity.
Q: Is nomination permitted in NRI accounts?
A: Yes, NRIs can nominate either a resident or a non-resident as Nominee. However, only one nominee is permitted per account. The nominee can also be a minor in which case, the guardian has to be...
Q: Can NRI invest in an immovable proprietary/partnership concern?
A: Yes, Repatriation benefit is available for 2 residential houses. The purchase should be out of funds remitted from aboard or out of NRE/FCNR accounts, in accordance with the provisions of FERA/FEMA.
Q: Can NRI place deposits with companies on repatriation basis?
Q: Can Indian company take a loan from a foreign bank?
A: Yes, an Indian company can borrow loans in foreign currency from a foreign bank. These are known as foreign currency term loans or external commercial borrowings.
Q: What are the documents required for a home loan for NRI?
A: The following are the documents required to get home loans for an NRI:
* Employer Identity Card
* Attested copy of passport and visa
* Address proof mentioning the current overseas address
Q: Can NRI take a loan against property?
A: Yes an NRI can take a loan to buy residential/commercial property in India. Many prominent lending institutions in the country offer the facility of loan against the property to NRI's at attractive...
Q: Can NRI get a loan in India?
A: Yes an NRI can get a personal loan in India. Personal loan for NRIs is a good option to receive quick financing for different requirements.
Q: Is salary received in NRE account taxable?
A: Remittance made in foreign currency to NRE account cannot be considered as income received in India. Income earned by the NRI is not taxed at every point of receipt.