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Latest Questions

Q: Can a POA (Power Of Attorney) invest on behalf of an NRI investor?

A: Yes, A POA has the authority to invest on behalf of the NRI investor and sign documents for initial and additional purchases as well as redemptions. While applying for purchase of units, the POA...

Q: What is the proof of Tax Deducted at Source (TDS)?

A: A TDS certificate is issued in the name of the first unit holder mentioning the details of the transaction and the tax deducted.

Q: How will the redemption process be paid?

A: Redemption proceeds are paid by a cheque payable to the first holder. The proceeds will be payable in Indian rupees. A tax shall be deducted at source.

Q: What is the mode of payment for repatriation and non-repatriation basis?

A: Repatriation basis: Payments for the purchase of units may be made by India rupee drafts purchased abroad or by cheques drawn on the NRE account. Non-Repatriation basis: Payments for the purchase...

Q: Hi, Can an agricultural land be registered in the name of an OCI (daughter)when it is purchased by an indian citizen(father) to save registering the same land or later inheritting it? Thanks

A: An NRI is eligible to inherit property from a resident of India, and also a non-resident Indian. However, you must make sure that the person you inherit property from has obtained the real estate...

Q: Hi i lost my pasport in my home. i could not note down any detail of my pasport. i am sarvesh kumar s/o sobaran Singh DOB- 21-09-1987 Pancard no-BHKPK6944D Aadhar no- 75977912 7469 find my pasport no is it possible

A: No, you cannot get the details of lost passport by using PAN and Aadhar card, you should re-apply for the new passport. To re-apply your passport you can follow the link...

Q: What is the tax liability for income received from your mutual funds?

A: As per section 10(35) of the income tax Act 1961, income received from mutual fund units specified under section 10 (23D) is exempt from income tax in India and the mutual funds are subject to...

Q: Is the indexation benefit available to NRIs?

A: Yes, if units are held for more than 12 months i.e. on long-term capital gains.

Q: Are funds units liable to wealth tax?

A: No, units issued to NRIs will not be treated as assets as defined under section 2(ea) of the wealth tax act, 1957 and hence will not be liable to wealth tax.

Q: Can an NRI fax a request followed by the original documents?

A: No, units cannot be redeemed or allocated on the basis of fax applications. A request that lacks a valid signature cannot be processed due to legal restrictions.