Q: If an Indian Resident die and his executor in India transfer his money (3 crs) to an NRI who is grandson of deceased, whether RBI permission require for transfer of money from deceased or executor account to NRI (USA) in his NRO account in India. Deceased has made will and WILL is probated in Court.
A: Yes, an NRI/PIO can receive a gift from a resident relative. However, the amount cannot exceed the limit prescribed under LRS, i.e., $250,000 per financial year
The account can be credited with...
Q: Whom can NRIs or PIOs contact if they face any problem in India?
A: In case of any complaint, NRIs /PIOs can meet the Protector of Emigrants (PDE) on Tuesdays and Fridays between 11.30 A.M. to 12.30 P.M without any prior appointment. Complaints can also be...
Q: What are the documents required for an NRI to apply for PAN card?
A: Following are the documents an NRI should submit while applying for a PAN card:
* 2 recent passport-sized photos
* Copy of passport
* Overseas address proof-copy and overseas bank statment
Q: How long does it take to get a PAN card for NRI?
A: The maximum time for an NRI to get a PAN card will take around 15-20 days. you will receive to the address of what you have mentioned in the application.
Q: Can an NRI apply for PAN card?
A: Yes, an NRI can apply for a PAN card. NRIs who are Indian citizens have to apply for a PAN by filling form 49A. While NRIs with citizenship of another country need to fill up form 49AA.
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: 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: How to convert minor PAN to major PAN card?
A: To change PAN card form from minor to major, you should fill and submit the "Request for new PAN card and/or changes or correction in PAN data" Form. Keep in mind that In order to Link Aadhaar with...
Q: Should we apply for new PAN, in case of PAN information changed?
A: PAN is for life and Individuals can have only ONE PAN. Having more than one PAN is also illegal.
In case of change of information of a person who has a PAN, they should not apply for new PAN but...