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Latest Questions

Q: How can we repatriate funds from NRO balances?

A: Balances in the account can be repatriated up to USD $1 million per the calendar year for any purpose, subject to payment of taxes. This includes sale proceeds of immovable properties credited to...

Q: Can i transfer funds from my NRO account to an NRE/FCNR account?

A: Funds from NRO account cannot be transferred to an NRE / FCNR account as funds in an NRO account cannot be repatriated outside India.

Q: Can i continue to operate my resident account if I open an NRI account?

A: When you attain a non-resident status, you need to re-designate your resident account to an NRO (Non-Resident Ordinary) account.

Q: what will be the customs duty to import a 4 year old self used car from Dubai to India on transfer of residence, if the original cost of the car was equivalent to Rs 12 lacs

A: Transfer Of Residence Rules India NRIs who are returning to India after a stay abroad may avail the “transfer of residence” for permanent settlement. Under this, you are allowed to import one car...

Q: How to find other person passport number by his name?

A: Passport is an important identification document which is highly encrypted for security. Hence, it is not possible to get passport details using the passport number. The status of the passport or...

Q: Are foreign nationals of Indian origin allowed to buy immovable property in India?

A: A person of Indian origin (PIO) who can claim to have Indian lineage doesn’t require any special permission to buy property in India. However, there is a clause inserted by the Foreign Exchange...

Q: How can foreign nationals of Indian origin make payments for purchasing immovable property in India under the general permission?

A: Foreign nationals of Indian origin who have held Indian passports in the past or who can claim Indian lineage are known as PIOs and are covered under the general permission act to buy property in...

Q: What are the procedures to be completed by foreign nationals of Indian origin for buying immovable property in India?

A: A foreign national of Indian origin is also referred to as a person of Indian origin or a PIO. These are people living abroad who have once held an Indian passport or have relatives of Indian...

Q: Are there any tax benefits for NRIs investing in non-immovable properties in India?

A: As far as tax implications for buying property in India by non-resident Indians goes, he is as entitled to tax benefits as a resident Indian is. An NRI can claim deductions of up to Rs.1.5 Lakh...

Q: How long will it take for investors to receive dividends/repurchase proceeds?

A: A mutual fund is required to despatch the dividend warrants to unitholders within 30 days of the declaration of dividends; redemption or repurchase proceeds are to be sent within 10 working days...