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Latest Questions

Q: I have PIO card issued in 2011like apassport type prints. is it valid to travel to India?

A: *The government of India has notified that all existing PIO card holders shall be deemed to overseas citizens of Indian cardholder (merger of PIO to OCI) *Until applicants are in receipt of an OCI...

Q: Can a relative/power of attorney holder deposit foreign currency on behalf of the NRI?

A: No, the NRI has to come personally along with his/her passport for depositing to FC/FCTCs.

Q: How much foreign currency can an NRI bring along with him/her visit to India, without customs declaration form?

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: How much foreign currency can NRI carry out of India?

A: There is no limit to carry foreign exchange to the US. However, amounts exceeding USD 5,000 or equivalent and foreign exchange in the form of currency notes, bank notes or traveler's cheques in...

Q: How can NRIs do the sale/transfer of shares held by them with repatriation benefits?

A: In the case of shares /debentures /bonds acquired by NRIs through stock exchanges under the Portfolio Investment Scheme, general exemption has been granted for transfer through stock exchanges...

Q: Are NRIs permitted to transfer/sell their shares held on non-repatriation basis to resident freely?

A: Yes. General exemption has been granted by Reserve Bank for transfer/sale of shares/debentures/bonds by NRIs/OCBs through stock exchanges if such transfers are made in favor of an Indian citizen or...

Q: Can NRIs make foreign currency investments?

A: No. All investments have to be in Indian Rupees, for which an NRE/NRO account would be a convenient option.

Q: How to convert foreign currency to Indian rupees on arrival in India?

A: Foreign currency declaration on arrival at Indian airports is required only in one of the two conditions mentioned below: 1.If the incoming passenger has in his/her possession foreign currency...

Q: Can gold jewelry be taken on the transfer of residence?

A: No, gold jewelry cannot be taken under transfer of residency, transfer of residence allows duty-free import of used household goods. The only duty-free allowance that can be availed when it comes...

Q: Is there any restriction on taking foreign currency out from India?

A: There is no restriction on the amount of money that can be taken out from India by travelers. The only requirement is that a declaration is required if the amount carried exceeds US$ 5000 in cash...