Regras Limite de USD 2,50,000 ou itrsquos equivalente por ano financeiro é aplicável para os propósitos abaixo mencionados de viagem: Visita privada (Viagem de lazer) Emprego Acompanhamento de paciente no exterior Viagem de negócios da conta de Pessoa física / propriedade Educação Emigração Tratamento médico / Pessoa que caiu doente Depois de ir para o exterior O limite global disponível para um indivíduo, no âmbito do regime de remessas liberalizadas para indivíduos residentes (LRS) é de USD 2,50,000 por ano financeiro e os outros limites de acordo com o Anexo III relativos a viagens, negócios, médicos, educação, imigração etc Foram subsumidos dentro do limite LRS (dentro do limite global de USD 2,50,000 por exercício). Daí o limite é o limite combinado disponível para vários fins e produtos. Observe que qualquer remessa superior a USD 2,50,000 deve ser conforme as diretrizes do RBI. Para obter mais informações, entre em contato com os ramos mais próximos do Serviço de Forex do Banco ICICI. Documentação Objectivo da Documentação de Viagem para o ICICI Titular da conta bancária Documentação para o titular da conta bancária não ICICI Visitas Privadas (Viagem de lazer) Formulário A2 cum aplicação e declaração LRS Auto-atestado cópia do PAN (se aplicável) Auto-atestado cópia do passaporte Formulário A2 cum aplicação E LRS Copia auto-atestada de PAN Cópia auto-atestada do passaporte Cópia auto-atestada de VISA. No caso de VISA está na chegada, em seguida, cópia do bilhete de avião a ser tomada Ir para o exterior no emprego Viagem de negócios ndash Financiamento de Residente Individual Conta ou Proprietorship Assistente de conta que acompanha um paciente para tratamento médico / check-up no exterior Educação (Estudos no Exterior) Que tenha caído doente depois de ir para o estrangeiro No caso de o limite forex superior a USD 2,50,000 ou equivalente itrsquos para fins de Emigração, Educação e tratamento médico, documento de apoio adicional é necessária. Para a emigração, a estimativa do país de emigração para a educação - estimativa da instituição no exterior e para tratamento médico ndash a estimativa recebida do médico na Índia ou Hospital / médico no exterior seria necessária. Para obter mais informações, visite a sucursal de serviços de câmbio do Banco ICICI mais próxima. Imposto de Serviço Imposto de Serviço de Imposto incluindo Cess: Até Rs. 1,00,000 0,15 ou Rs. 37.5 o que for maior Rs.1,00,000 para 10,00,000 Rs.150 0,075 em quantidades sobre Rs. 1,00,000 Rs.10,00,000 e acima Rs. 825 0,015 em quantidades superiores a Rs. 10,00,000, sujeito ao montante máximo de Rs. 7.500 Nota: Impostos e encargos (se houver) estão sujeitos a alterações de tempos em tempos. Internet Banking Explore o poder de uma operação bancária mais simples e inteligente. Banco on-line com mais de 250 serviços Mobile Banking Bank em movimento com os nossos serviços de Banca Móvel. Faça o download do aplicativo ou use o SMS Pockets por ICICI Bank VISA powered universal carteira de pagamento. Faça o download hoje Encontre ATM / Branch Bank 24/7 através de uma rede generalizada de mais de 4.450 agências e 14.295 ATMs regras de tráfego para não residente da Índia (NRI) Oi pessoal, Alguém pode explicar as regras e regulamentos para NRI para negociação on-line no mercado de ações indiano. 1) Se NRI obtém uma conta de negociação on-line para negociar o mercado de ações indiano, simplesmente produzindo o seu número PAN e prova de residência e outros documentos relevantes, independentemente de mostrar qualquer identidade de qualquer prova de estado de vida estrangeira Por favor, explique as regras e regulamentos a este respeito. A conta de negociação NRI não está disponível para residentes estrangeiros, incluindo índios não residentes (NRIs) nos Estados Unidos. NRI não seria permitido para o comércio do dia. Os investidores indianos não residentes não podem especular diariamente nos mercados. Por exemplo, se eles comprarem ações na segunda-feira teriam que esperar até quarta-feira para vendê-lo. No entanto, eles seriam autorizados a negociar no segmento de futuros do mercado. Se você deseja negociar com a conta NRE eo lucro para sua conta NRE em vez de conta NRO, então você só precisa seguir os procedimentos abaixo. Else você pode abrir uma conta comercial como normal (PIS é necessário, mas PAN não é necessário em endereço estrangeiro), nenhuma diferença. Como a maioria das pessoas e agentes de corretores de empresas vai dizer o seu complicado para tomar um e vai confundi-lo. Um dos meus parentes tem NRI Trading conta e eu fiz tudo para ele. Quando eu tenho contactado ICICIDirect, Sharekhan e Geojit agentes e até mesmo os chama diretamente me disseram que é uma coisa muito complicada e me forçou a ter uma conta normal de negociação. Mesmo o oficial do ICICIDirect me disse o mesmo. Mas não é muito complexo na realidade. Vou explicar o procedimento abaixo. Donot ir para ICICIDirect para a negociação, eles são o pior serviço na Índia. Também a sua corretora é muito alta (Se você perguntar-lhes que irá explicar o seu mais baixo por dizer tantas falsas desculpas, não acredito). Mas os seus serviços de ICICI Banking são apenas bons e não são os melhores. PASSOS: 1. Pegue um PAN CARD (foto e cópia de passaporte para prova de endereço estrangeiro) com seu endereço no exterior. Você pode aplicar para isso no formulário normal em si, colocar endereço com o seu endereço no exterior e colocar o seu endereço de comunicação com endereço indiano. Se você já tomou um cartão PAN com endereço local, então cancele o cartão e pegue um novo com endereço no exterior (segurando dois cartões PAN são ilegais.) 2. Tome uma conta NRE com quaisquer bancos como HDFC, ICICI, SBI, AXIS, etc. Eu recomendo HDFC Bank. Eles fornecem serviços de qualidade padrão. 3. Pegue uma conta PIS ou PINS vinculada à conta NRE do mesmo banco. Você precisa de PAN Card para isso. Este PINS também é conhecido como RBI premission para NRI negociação on-line. 3. Vá para uma empresa comercial, Sharekhan (ir para a conta de comércio Tiger não clássico ou comércio rápido), Religare, ou Geojit e preencher o formulário a partir de lá e apresentar os documentos necessários. Documentos Primários Necessários: Foto, Cópia de Passaporte, Prova de Endereço Local (Telefone / Conta / Cartão de Ração / etc.), Cópia PAN CARD, Sua conta será ativada em 3 ou 4 dias. Então você pode negociar com status de NRE. Se eu tivesse perdido qualquer coisa leitores por favor informe. Negociação feliz. Hari. Última edição por TFL 8 de setembro de 2008 às 21:03. Motivo: Atualizado. Re: Regras de negociação para não residente da Índia (NRI) Demorou um pouco para mim decidir se nre / nro / nri (mesmo hoje eu não entendo a diferença entre eles), enquanto isso eu tenho a minha cidadania. Então pensei em cortar a coisa inteira e abriu algumas contas comerciais no nome dos meus pais. Todos os melhores Postado Originalmente por haricnair Se você quiser negociar com a conta NRE eo lucro para sua conta NRE em vez de conta NRO, então só você precisa seguir os procedimentos abaixo. Else você pode abrir uma conta comercial como normal, nenhuma diferença. Como a maioria das pessoas e agentes de corretores de empresas vai dizer o seu complicado para tomar um e vai confundi-lo. Um dos meus parentes tem NRI Trading conta e eu fiz tudo para ele. Quando eu tenho contactado ICICIDirect, Sharekhan e Geojit agentes e até mesmo os chama diretamente me disseram que é uma coisa muito complicada e me forçou a ter uma conta normal de negociação. Mesmo o oficial do ICICIDirect me disse o mesmo. Mas não é muito complexo na realidade. Vou explicar o procedimento abaixo. Donot ir para ICICIDirect para a negociação, eles são o pior serviço na Índia. Na comunidade do comerciante há um provérbio, o quotPeople que os comércios em ICICIDirect são fools. quot Seu verdadeiro que você perderá seu dinheiro apenas por causa de seu serviço mau. Também a sua corretora é muito alta (Se você perguntar-lhes que irá explicar o seu mais baixo por dizer tantas falsas desculpas, não acredito). Mas os seus serviços de ICICI Banking são apenas bons e não são os melhores. PASSOS: 1. Pegue um PAN CARD (foto e cópia de passaporte para prova de endereço estrangeiro) com seu endereço no exterior. Você pode aplicar para isso no formulário normal em si, colocar endereço com o seu endereço no exterior e colocar o seu endereço de comunicação com endereço indiano. Se você já tomou um cartão PAN com endereço local, então cancele o cartão e pegue um novo com endereço no exterior (segurando dois cartões PAN são ilegais.) 2. Tome uma conta NRE com quaisquer bancos como HDFC, ICICI, SBI, AXIS, etc. Eu recomendo HDFC Bank. Eles fornecem serviços de qualidade padrão. 3. Pegue uma conta PIS ou PINS vinculada à conta NRE do mesmo banco. Você precisa de PAN Card para isso. Este PINS também é conhecido como RBI premission para NRI negociação on-line. 3. Vá para uma empresa comercial, Sharekhan (ir para a conta de comércio Tiger não clássico ou comércio rápido), Religare, ou Geojit e preencher o formulário a partir de lá e apresentar os documentos necessários. Documentos Primários Necessários: Foto, Cópia de Passaporte, Prova de Endereço Local (Telefone / Conta / Cartão de Ração / etc.), Cópia PAN CARD, Sua conta será ativada em 3 ou 4 dias. Então você pode negociar com status de NRE. Se eu tivesse perdido qualquer coisa leitores por favor informe. Negociação feliz. Hari. Originally Posted by learn2trade08 Demorou um pouco para mim decidir se nre / nro / nri (mesmo hoje eu não entendo a diferença entre eles), enquanto isso eu tenho a minha cidadania. Então pensei em cortar a coisa inteira e abriu algumas contas comerciais no nome dos meus pais. Todas as melhores As diferenças são, Existem normalmente 3 tipos de contas: NRE, NRO e FCNR NRE: A partir desta conta você pode transferir seus fundos facilmente para fora da Índia. Também não é possível transferir fundos para esta conta de qualquer conta não NRE / FCNR. Significa que você não pode financiar a conta NRE com dinheiro local ou da conta NRO. NRO: As limitações acima não são aplicáveis para isso. Agir como conta normal. FCNR: Igual a NRE, mas pode guardar dinheiro em moeda estrangeira como dólar, libra, etc. 1. Se você ligar e NRE conta e tomar PIS você pode negociar e obter seus lucros fora da Índia. Outro sábio se você donot quer essa facilidade apenas tomar normal NRO / SB conta Trading conta. O TDS será deduzido diretamente da conta após negociações. Nota: Você pode ter a conta normal vinculada à sua conta NRO / SB em vez de levá-la em seus pais. Como ambos agem como o mesmo. Se você precisar de algum conselho pessoal PM me. Acho que posso dirigir. Última edição por TFL 18 de Agosto de 2008 às 12:40. Razão: Adição Postado Originalmente por haricnair Se você quiser negociar com a conta NRE eo lucro para sua conta NRE em vez de conta NRO, então só você precisa seguir os procedimentos abaixo. Else você pode abrir uma conta comercial como normal, nenhuma diferença. Como a maioria das pessoas e agentes de corretores de empresas vai dizer o seu complicado para tomar um e vai confundi-lo. Um dos meus parentes tem NRI Trading conta e eu fiz tudo para ele. Quando eu tenho contactado ICICIDirect, Sharekhan e Geojit agentes e até mesmo os chama diretamente me disseram que é uma coisa muito complicada e me forçou a ter uma conta normal de negociação. Mesmo o oficial do ICICIDirect me disse o mesmo. Mas não é muito complexo na realidade. Vou explicar o procedimento abaixo. Donot ir para ICICIDirect para a negociação, eles são o pior serviço na Índia. Na comunidade do comerciante há um provérbio, o quotPeople que os comércios em ICICIDirect são fools. quot Seu verdadeiro que você perderá seu dinheiro apenas por causa de seu serviço mau. Também a sua corretora é muito alta (Se você perguntar-lhes que irá explicar o seu mais baixo por dizer tantas falsas desculpas, não acredito). Mas os seus serviços de ICICI Banking são apenas bons e não são os melhores. PASSOS: 1. Pegue um PAN CARD (foto e cópia de passaporte para prova de endereço estrangeiro) com seu endereço no exterior. Você pode aplicar para isso no formulário normal em si, colocar endereço com o seu endereço no exterior e colocar o seu endereço de comunicação com endereço indiano. Se você já tomou um cartão PAN com endereço local, então cancele o cartão e pegue um novo com endereço no exterior (segurando dois cartões PAN são ilegais.) 2. Tome uma conta NRE com quaisquer bancos como HDFC, ICICI, SBI, AXIS, etc. Eu recomendo HDFC Bank. Eles fornecem serviços de qualidade padrão. 3. Pegue uma conta PIS ou PINS vinculada à conta NRE do mesmo banco. Você precisa de PAN Card para isso. Este PINS também é conhecido como RBI premission para NRI negociação on-line. 3. Vá para uma empresa comercial, Sharekhan (ir para a conta de comércio Tiger não clássico ou comércio rápido), Religare, ou Geojit e preencher o formulário a partir de lá e apresentar os documentos necessários. Documentos Primários Necessários: Foto, Cópia de Passaporte, Prova de Endereço Local (Telefone / Conta / Cartão de Ração / etc.), Cópia PAN CARD, Sua conta será ativada em 3 ou 4 dias. Então você pode negociar com status de NRE. Se eu tivesse perdido qualquer coisa leitores por favor informe. Negociação feliz. Hari. Oi Hari, Desculpe a resposta tardia como foi pouco ocupado. Bem, estou muito grato a você pela informação. Bem, primeiro, eu entendo NRE e NRO contas corretamente. Portanto, não há dúvida sobre isso. Trading relacionados: Agora estou na situação que eu sou mais cedo ou mais tarde deslocamento para a Índia pode ser anos ou assim). Então eu não tenho certeza onde sua coisa sábia para abrir NRI conta de negociação e acabam pagando extra desnecessário como eu não iria usar tanto. Então o que você acha que eu deveria ir em frente para abrir conta de negociação como sendo um NRI ou apenas ir em frente para a conta normal. Por exemplo: Se eu ir para a conta de negociação normal como eu tenho PAN (endereço indiano). Portanto, é fácil para mim ir para a conta de negociação normal. Então, quais são as conseqüências, se eu conseguir uma conta pisando normal na situação atual Claro que ainda sou cidadão indiano. E como o departamento de impostos lida com tais casos Suas sugestões serão muito apreciadas Buzz Editar / Apagar Mensagem Oi Hari, Desculpe pela resposta atrasada como estava pouco ocupado. Bem, estou muito grato a você pela informação. Bem, primeiro, eu entendo NRE e NRO contas corretamente. Portanto, não há dúvida sobre isso. Trading relacionados: Agora estou na situação que eu sou mais cedo ou mais tarde deslocamento para a Índia pode ser anos ou assim). Então eu não tenho certeza onde sua coisa sábia para abrir NRI conta de negociação e acabam pagando extra desnecessário como eu não iria usar tanto. Então o que você acha que eu deveria ir em frente para abrir conta de negociação como sendo um NRI ou apenas ir em frente para a conta normal. Por exemplo: Se eu ir para a conta de negociação normal como eu tenho PAN (endereço indiano). Portanto, é fácil para mim ir para a conta de negociação normal. Então, quais são as conseqüências, se eu conseguir uma conta pisando normal na situação atual Claro que ainda sou cidadão indiano. E Como o departamento de impostos lida com tais casos Suas sugestões serão muito apreciadas Buzz Editar / deletar mensagem Como um NRI você precisa PIS para negociação no mercado secundário. Não é necessário se você só quer de IPOs. Além disso, você não precisa PAN com endereço no exterior se você só deseja vincular sua conta Trading amp Demat para NRO. No seu caso, vá ao seu banco pegue uma conta PIS (PINS) e tome uma declaração desta conta PIS e da conta NRO, envie-os com cópia PAN (endereço local) e foto. Não haverá consequências para ter uma conta PIS. Nota: Legalmente, você não pode vincular a conta SB normal, mas a maioria dos corretores permitirá isso silenciosamente. Negociação feliz. Hari. Originalmente publicado por ash. paul Oi Buzz, Só para que você saiba se você não é um indiano residente ou seja, não na Índia por mais de 180 dias em um ano financeiro, então seria ilegal para abrir uma conta declarando que você é residente indiano , Por lei você só pode abrir quaisquer contas bancárias na Índia com um status NRI .. Você pode abrir contas em sua família ou qualquer nome de pessoas confiáveis ou NRE / NRO a / c como normal. Você pesquisou qualquer um de seus corretores locais no país de residência que fornece a facilidade de comércio nos mercados indianos. Você é verdadeiro. Obrigado pelo esclarecimento. Eu gosto de adicionar o abaixo também. Quem pode ser chamado de não residente nos termos da lei do imposto sobre o rendimento Uma pessoa é dita ser um não residente para um determinado ano sob a lei do imposto de renda quando satisfez as seguintes condições: 1) Ele está na Índia por menos de 182 2) Se esteve na Índia por mais de 365 dias ou mais nos quatro anos que antecederam aquele ano, então ele é a Índia por menos de 60 dias naquele ano. (Cortesia: MoneyControl) Postado Originalmente por ash. paul Oi Buzz, Só para que você saiba se você não é um indiano residente ou seja, não na Índia por mais de 180 dias em um ano financeiro, então seria ilegal para abrir uma conta declarando Que você é residente indiano, por lei você só pode abrir quaisquer contas bancárias na Índia com um status NRI .. Você pode abrir contas em sua família ou qualquer nome de pessoas confiáveis ou NRE / NRO a / c como normal. Você pesquisou qualquer um de seus corretores locais no país de residência que fornece a facilidade de comércio nos mercados indianos. Oi, O que acontece se um NRI tem suas contas bancárias normais (poupança) ativo continuar depois que ele se torna NRI Por favor, destaque sobre esta questão também Seu sentimento de pertencimento à Pátria é un-paralelo e tempo testado. Nós, da SBBJ, conhecemos e compreendemos esse vínculo inigualável, o sentimento de pertença e as afeições que você compartilha com sua terra mãe que é a Índia. Nós da SBBJ, asseguramos a você: Maiores rendimentos em seus Depósitos Repatriamento de Fundos Receita de juros isenta de Regras de Imposto de Renda da Índia (Conforme permitido pela Lei de Imposto de Renda existente) Facilidade de Empréstimo Internet Banking ATM Card Mobile Banking Tudo isso e muito mais, Inigualável de fundos e dependability. Who é NRI que é um indiano não residente NRI Um indiano não residente (NRI) de acordo com a FEMA 1999 é um cidadão indiano ou estrangeiro de origem indiana residente fora da Índia para fins de emprego, Negócios ou vocação em circunstâncias como indicaria sua intenção de ficar fora da Índia por um período indeterminado. Um indivíduo também será considerado NRI se a sua estadia na Índia é inferior a 182 dias durante o exercício anterior. Uma pessoa de origem indiana (PIO) foi definida de forma diferente para manter contas de depósitos e de propriedade etc. Para fins de manutenção de contas de depósito: Uma Pessoa de Origem Indiana (PIO) é um cidadão de qualquer país que não o Paquistão, Bangladesh, se um. Ele a qualquer momento tinha um passaporte indiano ou b. Ele ou qualquer de seus pais ou avós era um cidadão da Índia, c. A pessoa um cônjuge de um cidadão indiano ou uma pessoa referida acima. Tipos de Contas de Depósito Na SBBJ temos bouquet de contas para atender todas as suas necessidades e recebê-lo para abri-las com qualquer uma de nossas agências: NRE Savings Bank Rupee Account. (Depósitos em Rúpia Indiana) Conta de Depósito de Não-Residentes de Moeda Estrangeira (Depósitos em 6 Moedas Externas Permitidas) Conta Não Residente (Depósitos em Rúpia Indiana) Conta (Conta RFC) Pode ser aberto apenas por qualquer Indivíduos Não Residentes (NRIs) Pode ser aberto em conjunto apenas com outra NRI / Conta conjunta com o parente próximo pode ser aberto na base Antigo ou Sobrevivente. O cartão ATM-cum-Debit pode ser emitido. Se desejar, International ATM-cum-cartão de débito também pode ser emitido facilidade de Internet banking disponível. Através de nossa facilidade bancária em linha do SBBJ transacionar em sua conveniência, economia de tempo e custo Você pode ver e, em seguida, transacionar em sua conta (s) on-line Pode ser aberto com Baixo Saldo mínimo de Rs.500 / - (Rs. Você também pode retirar dinheiro de ATMs endossados por Maestro de outros bancos (5 transações em um mês - FREE) sob compartilhamento bilateral. Como e quando você deseja transferir sua conta para qualquer outro ramo, ele pode ser transferido sem qualquer custo Seus depósitos sob o regime estão isentos de Imposto de Renda e Imposto de Riqueza conforme as regras fiscais existentes Você pode dar Procuração para operar esta conta como Permitido pelas normas existentes da FEMA-1999 Remessas do exterior (SWIFT, transferências telegráficas) Cheque pessoal retirado em sua (s) conta (s) no exterior. Recursos de Notas de Moeda Estrangeira / Travelers cheques enviados por você em pessoa durante suas visitas à Índia. Os montantes superiores a 5000 (ou equivalente) em moeda ou 10.000 / - (ou equivalente) em cheques Travelers devem ser acompanhados por um Formulário de Declaração de Moeda. Emissões emitidas pelo Banco / Bolsa de Câmbio no exterior Transferência de outra conta NRE / FCNR Receitas de juros / dividendos / vencimento de investimentos feitos na Índia com base repatriável. Qualquer outro crédito permitido pela RBI Remessas fora da Índia Desembolsos Locais Transferência para as contas NRE / FCNR do titular da conta ou qualquer outra pessoa qualificada para manter tal conta Investimento em ações / valores mobiliários / papel comercial de uma empresa indiana ou para compra de imóvel Propriedade na Índia sujeita a tal compra / investimento é permitido em conformidade com as disposições relevantes da FEMA-99 Qualquer outro débito conforme permitido pelo RBI Clique aqui para fazer download do formulário de abertura da conta Período mínimo 1 ano Período máximo 10 anos Juros podem ser retirados trimestralmente em recibos de depósito ) Ou composto trimestralmente em Depósitos a Prazo Especial (STDRs) Em exigências você pode obter retirada prematura do valor depositado. Juros a pagar será, taxa aplicável para o depósito período tem sido com o banco menos 1. Não há juros devidos para depósitos de menos de 12 meses Você pode repatriar Saldo que estabelece na conta sem qualquer RBI aprovação Você pode nomear residente / não residente indiano Como um nomeado na conta Depósitos Recorrentes: Em depósitos a prazo NRE, a conta de Depósitos recorrentes pode ser aberta. Sob o esquema você pode depositar uma soma fixa em uma base mensal, na maturidade um corpus estará disponível a você para encontrar suas exigências. Seus depósitos sob o regime estão isentos de Imposto de Renda e Imposto de Riqueza de acordo com as regras fiscais existentes. Você pode fornecer uma Procuração para operar esta conta conforme permitido pelas regras existentes da FEMA-1999. Rúpia empréstimos podem ser tomadas na Índia contra a segurança do depósito pelo depositante (s) e para terceiros Clique aqui para taxas de juros Moeda Estrangeira Contas de Depósito Não-Residente (FCNR-B Conta): Para os nossos clientes NRI, que desejam colocar Seus depósitos em moeda estrangeira, temos FCNR-B regime de depósito. Sob o regime, você pode manter o depósito em moedas seguintes para um período de tempo fixo que varia de mínimo 1 ano a 5 anos, como por sua conveniência. Além de ganhar juros interessantes em seu depósito, seus depósitos são isolados de flutuações da taxa de câmbio. A) Dólar americano b) Libra esterlina britânica c) Dólar canadense c) Dólar australiano d) Yen japonês As contas FCNR podem ser abertas apenas por um NRI. A conta pode ser aberta em conjunto com outra NRI / Conta Conjunta com um parente próximo residente pode ser aberta na base do Antigo ou do Sobrevivente. Você pode nomear residente / não residente indiano como um nomeado na conta. Em exigências você pode obter a retirada prematura do valor depositado. Juros a pagar será, taxa aplicável para depósito período foi com o banco menos 1. Não há juros devidos para depósitos de menos de 12 meses. Você pode repatriar equilíbrio que estabelece na conta sem qualquer RBI aprovação. Você tem a liberdade de converter seus depósitos em rupias indianas. Rupia empréstimos podem ser tomadas na Índia contra a segurança do depósito pelo próprio depositante (s) e terceiros. Empréstimos em moeda estrangeira pode ser aproveitado pelo NRI depositante (s) (Self) contra a segurança dos depósitos FCNR. Seus depósitos sob o regime estão isentos de Imposto de Renda e Imposto de Riqueza de acordo com as regras fiscais existentes. Você pode fornecer uma Procuração para operar esta conta conforme permitido pelas regras existentes da FEMA-1999. No seu regresso à Índia para liquidação permanente, os depósitos podem ser convertidos como Resident Foreign Currency Account (conta RFC). Créditos / Débitos na conta: o mesmo permitido nas contas NRE. Clique Aqui para Taxas de InteresseNão Residente (Contas Ordinárias): Você pode abrir uma conta conjunta com outros não residentes ou residentes. Você pode ter Poupança Banco, atual, depósitos fixos e contas de depósitos recorrentes. Você pode colocar seus depósitos para qualquer maturidade de 15 dias para 10 anos. Saldo que estabelece na conta pode ser retirado para fazer pagamentos locais em rupias. Investimento em ações / títulos / imóveis em regime de não repatriamento com autorização geral ou específica do RBI. Você pode repatriar o saldo na conta para qualquer objetivo de boa-fé até um máximo de US $ 1 milhão por ano financeiro, sujeito ao pagamento de impostos, devidamente certificado por um Contador Público. Rupia empréstimos podem ser tomadas na Índia contra a segurança do depósito pelo próprio depositante (s) e terceiros Sua renda atual na Índia pode ser creditado às contas NRO. 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Last year, to stem rupee depreciation and restrict outward remittances, the eligibility limit for foreign exchange remittances under the Liberalized Remittance Scheme (LRS) was reduced to US 75,000 last year. With the recent stability in the foreign exchange market, RBI decided to enhance the eligible limit to US 125,000 without end use restrictions, except for prohibited foreign exchange transactions such as margin trading, lottery, and the like. 2. RBI allowed foreign portfolio investors to participate in the domestic exchange traded currency derivatives market to the extent of their underlying exposures plus an additional US 10 million. The measure was announced with a view to improving the depth and liquidity in the domestic foreign exchange market. RBI also allowed domestic entities similar access to the exchange traded currency derivatives market. 3. Non-residents visiting India were not permitted to take out any Indian currency notes (INR) while leaving the country. Only Indian residents were allowed to take Indian currency notes up to Rs. 10,000 out of the country. With a view to facilitating travel requirements of non-residents visiting India, RBI allowed all residents and non-residents except citizens of Pakistan and Bangladesh to take out Indian currency notes up to Rs. 25,000 while leaving the country. Detailed operating guidelines for all the above measures will be issued separately. About Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) Mr. Jigar specializes on NRI Investments and Taxation. He is proud to be one of only 21 CFA Charterholders in India working as consultants. (In 2011, when he became CFA Charterholder, out of 97,173 CFA Charterholders in the World, only 697 Charterholders were in India and only 3 work as consultant Source: www. newcfa. org). He received his MBA (Finance) from University of Illinois, Chicago, USA, CPA from USA and a Chartered Accountant from India. Jigar has over 15 years of professional experience including more than 4 years with KPMG USAs Risk Advisory Services. Currently, he provides Wealth Management and taxation consulting serving clients from USA, UK, Americas, Europe, Middle East, Asia, Africa, Australia and India. Hi Sir, If I play international lottery through online conserige service website and win a jackpot of 100 million, fly to collect the win personally, open an account in foreign bank deposit the money and then transfer the amount to India bank account is this legal according to FEMA rules. Orelse what should be done Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: If you are an Indian resident, you are not allowed to send money to outside India for playing lottery or for gambling. As you can8217t send money to buy tickets, you can not win. Obrigado. Hi 8230. I was an NRI who returned to India many years ago. I am now a resident Indian since many years, having legal and tax-declared funds still lying in a US Bank account till today. Is it legally safe for me to open a forex trading account with these funds and trade freely in ALL currencies sitting here in India, using ONLY these funds I am asking this since forex trading is illegal in India, but this is my own legal money lying in US since all these years. Am I violating any RBI, FEMA etc rules if I start doing this Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. As you are a resident, you can trade in forex on exchanges as allowed in India. You are not allowed to trade in forex outside India. 2. As you are an Indian resident under FEMA, by trading in forex outside India, you would be violating the FEMA laws. Obrigado. Rohin, you can trade forex only if you maintain NRI status that is if you are still holding a US passport Other words you can live in India permanently and can still maintain your NRI status as US income is taxed globally. You can open an NRE account in India if you are a US passport holder. In this case your NRE account will be taxed by Indian Income Tax Authority as you are staying as resident in India. What you cannot do is transfer funds directly to any broker account from India. It is strictly prohibited to transfer funds from your Indian bank account to broker account for marginal trading but you are freely allowed to transfer funds from your Indian bank account to US bank account without restrictions if you are a US passport holder or use your US funds in your US bank account for forex trading. You cannot transfer profits directly from broker account to India bank account. You can only transfer from your US Bank account to Indian bank account to NRE account If an OCI or NRI (working in UAE) is doing business in US, Canada, Australia, etc or working in Guld and stays for more than 6 months in India, then it is deemed as resident, so therefore you will be taxed on world wide income in India. After you pay your taxes in US and get your income tax statement, then you have to show it to Indian Income tax authority and pay the difference based on the income tax rates. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. NRI status is not subjective but is objective i. e. based on actual days spent in India and your intention to stay in a country. 2. If you are a resident, you are not allowed to maintain NRE account but must have a resident account. Even US citizens living in India (my daughter) is an Indian resident and can only maintain resident account. All FEMA rules and regulations relating to Indian Resident would apply even to US citizen. Citizenship is an immigration issue and has nothing to do with taxation. 3. The forex traders may tell you and show ways of doing forex trading but in their record, they would have mentioned NRI and not resident as they would go by your declaration and the brokers make sure the money trail is from NRE or foreign funds so they are covered. But, in future, when there is a query (Enforcement Directorate (ED) scrutinizing credits in NRE accounts 8211 Economic times 30/09/16), the investor would be the one getting all the notices and subject to penalty, if any. 4. Don8217t do it 8211 invest as resident if you are an NRI and invest as NRI is you are a resident. Obrigado. Hi, I am from India and trade Indian markets. I really want to trade derivatives on NYMEX, CME, etc8230I know many people have asked about the legality and stuff. But if you really want to do this (trades international futures, forex), how would you somehow do it legally and still be an Indian resident I would really want an answer for this but if it is really impossible, then you will have to become an NRI till you the time you do it82308230Basically can you please tell me if there is a loooong cut (if not a shortcut) to successfully trade the international markets Pls dont say its impossible or cant answer. If not here, pls mail me in my given email address. I feel helpless. Nobody is able to help me in this regard till now. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Hi Jigar, I am Rahul from Mumbai. I have been following your posts and there is lot to learn. Thanks for all the valuable information. Well I have a query regarding Binary Option Trading. From your recent comments it is clear that Binary Options trading is illegal for Indian Citizens. I have gone through FEMA, SEBI amp RBI policies. But recently i found out Binary Options is Legal in India if you incorporate with a company and trade What does this mean Can you please describe this if possible. If I want to trade in Binary, what do i have to do next I want to be a full time Binary Trader. Por favor, ajude. Thanks in Advance Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: You can trade in all the securites or options that are traded in India. Only for trading outside India, there is restriction for trading in forex derivatives for an Indian resident. I think it would include resident individual, firm or company. Obrigado. Hi, Thank you for your reply. Well I have gone through some blogs and sites recently. They say Forex trading is legal in India only if you incorporate with a company or a corporation. Secondly we have to use free dollars from our reserve and lastly the leverage will be less than 10. I want to know the whole process if you can help. Thank you in advance Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: You may ask them (who advised you to do all these) to provide the FEMA rules to understand the requirements. I think forex trading can only be done by residents as hedging. I am not sure about forex trading as business. I suggest you consult someone before going through all these procedural hassles. Obrigado. I am an NRI working in Dubai. I have around 18 lacs rupees of FD in India in a normal account (not NRE). I want to bring back that amount to Dubai and then send it to my NRE account. I want to bring that amount to Dubai in USD or AED. At current rate, amount will be little above 26000 USD. Am I allowed to carry this much of USD while going back from India What is the other alternative to bring the amount to Dubai Thanks in advance. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Instead, I would recommend to change your resident account to NRO and then transfer to NRE. NRO to NRE transfer is allowed under FEMA. Obrigado. Hi, This post is indeed useful and moreover the comments section is even more informative. After going through all the comments and your replies I understand that trading in forex markets is not permitted for Indian residents. I would like to ask a couple of questions 1) Are there any chances of forex trading being made legal in India Just a couple of months back, RBI has allowed trading of cross-currency derivatives like EUR-USD/GBP-USD in India. So will the actual forex trading be made legal in India any time soon 2) I have gone through all the circulars/advisories/notifications/press releases issued by the RBI in terms of forex trading. I see that they mention that forex trading is not permitted and violates the FEMA act. On some portals, it is also said that forex trading is a non-bailable offence in India. I want to know what exactly are the implications and the punishment in terms of bail money/fine/jail term, etc. It is very sad to know that you cannot trade in one of the biggest markets in the world. Hopefully it will be allowed here in India like in other countries. Till then there is no other option other than to wait. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. Forex trading in India is legal for residents. As INR is not fully convertible, I am not sure whether or when forex trading outside India will be allowed. 2. Don8217t do it because it is not allowed/ not legal. Severity of punishment should not be the deciding factor. Obrigado. JINKAL HALAPARA says: My client is Pakistani citizen and shifted to India from last one year. He wants to receive money from US from his relative for his day to day living expenses. He is Doctor. What is the limit up to which he can receive forex. Please guide me Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: As your client is a citizen of Pakistan, he would need RBI permission for opening a bank account in India. I think he can receive gift from his relative for his day to day living expenses, which I think won8217t be much. I am not sure of any limit but please contact the bank and/or RBI. Obrigado. KVS Krishnan says: Sir, While travelling abroad I have availed local transport for travelling inside city. He has sent me his bill. Can I pay it through Paypal this amount Whether this amount will get counted in LRS limit for kind advice please. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Payment outside India for travel is an allowable remittance and you will be able to send the money out. I am not sure if you can transfer via Paypal. I would transfer through bank. Obrigado. Hi, please suggest me .. (1) if i give the forex fund managing service to out of India(to foreigners like in USA, UKetc).And i will take 50 profit sharing fee for my fund managing service to my clients. Then i want to give the tax for earning by forex fund-managing service, it is legal or not in India (2) if i made some US Dollars in e-currency like perfect money by online selling any services or software in USA. And if i use these USD in forex trading(on eurusd, gbpusd, usdjpy etc.) even i will not transfer a bit of amount from outside of country(India) for forex trading. Then i want to give the tax for earning by forex trading, it is legal or not in India (3) And how much money i can transfer in my indian bank account (4) Can I trade in international commodities like gold, silver etc. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Assuming you are an Indian resident, any trading in forex, directly or indirectly is not allowed by resident, whether money is earned in India or outside India. I would recommend trading in gold silver in India as they are also available in India and prices are based on international markets. Obrigado. I was working in USA since last 2 years and came back to India on 8th April 2016. I won 900 in scratch lottery on 4th April 2016 and I have transferred the lottery winnings to my NRE account on 5th April. 1. As I understand, the FEMA rules are NOT applicable to NRIs. Please correct me if I am wrong. When I won the lottery and transferred the winnings to Indian account, I was still NRI. So I think it was 8220legal8221 transaction. Since I came back to India on 8th April, I became Resident Indian from 8th April. Does this makes the lottery winnings transaction illegal 2. Since now, I am Resident Indian for the FY 2016-17 for income tax purpose, do I have to pay tax for my lottery winnings I have already paid tax for it in USA. Can I use DTAA benefit here so that I don8217t have to pay tax in both USA and India Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. I think it would be okay. Please check with your CA. 2. Yes. while you would need to include US income, you are still allowed to claim the rebate on the tax paid in USA. Obrigado. I am a senior NRI with funds in Banks in India. As a senior retired person, I plan to stay in USA. With the upward trend in exchange rate of INR Vs USD. what is the best method of protecting my savings. Is it better to transfer money to my US bank checking account by giving an Indian Bank checkOr should i draw money using VISA debit card got from the indian bank What are the other better options US ETFs I am not a keen trader. Thanks for your valuable advice. (preferably by email to mail Id) Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. I would keep 75 of money where I am living. If you are living in USA, I would recommend keeping 75 of your total investments in USA in USD. As an NRI, you are allowed to remit upto 1 million per year to USA from your NRO account. You may need a CA certificate in Form 15CB and filing of 15CA for transferring the funds. Please check with your bank. For investments options and where to invest, please contact us using the details in 8220Contact Us8221 page. Obrigado. Sir , I am in merchant navy and i have an nri account So can i do binary option in forex pairs like eurusd, gbpusd etc. Through recognised brokers. Please advice sir Thanks Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Doesn8217t matter you have an NRI account. What matters is whether your residential status as per FEMA is 8220Non-Resident8221. If yes, you can whatever you want based on the laws of resident country. Obrigado. Can an Indian on tourist visa to Europe play any European lottery amp in the event of any win open bank account with that money in European country utilise those money in europeafter paying applicable taxes Is there provision for remitting those money in India after paying taxes Will appreciate your pronpt response on this Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Rakesh Pai says: Hi, Thanks for all the useful information you provided. I am currently in US on h1-b status. My brother is planning to do his higher studies in india and he has got a seat under nri quoto. I m the sponsorer for his studies. But the fees is 75k per year for 3 years. This amount is huge and I cannot pay the college currently. My father has arranged for the money and he is planning to transfer that amount to my account. And the college will deduct from my account. I want to understand all the consequences involved in this process. Will I or my dad have any income tax issues What is the maximum amount I can get from outside country to US Thank you Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. Any transfer between two different person needs to be categorized whether gift or loan and FEMA rules relating to that transfer category needs to be complied with. You also need to comply with the rules relating to foreign gift received and gift given of IRS. 2. Please note your parents can give gift to you of upto 250000 per year as per FEMA. As per IRS, foreign gifts are tax free provided declaration is made. Also, a US resident can give gift of upto 14000 per person per year without declaring to IRS. Any additional amount needs to be declared to IRS and whether gift tax is to be paid or a declaration to adjust it against the lifetime gift amount. 3. NRI can remit upto 1million per year outside India. 250,000 limit is for Indian residents. Obrigado. Dear Sir, I am doing some consultancy and has gone into an investor who has funds in Singapore for trading the funds by bank operated treasury programs and Bank is giving the benefits to the investor and investor is paying me commissions in my singapore account 1)What will be the tax if I bring my commissions in india 2) I want to purchase with this commission a house and office in singapore whether I have to pay tax in india for this purchase of property. 3) I am not NRI whether all the things is legal as per RBI norms Thanks in advance for your reply. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. If you are an Indian resident, the fact that you have received income in Singapore, itself is subject to tax. Your bringing money to India is not taxable. 2. There is no tax on purchase of property. Tax is only on Income. However, as a resident, you would need to include your accounts/assets in Foreign Assets. If you don8217t, it may be considered as Black money and subject to penal provisions. 3. As long as you report your income and pay tax on income received and report foreign assets to IT department, I think it is allowed. Obrigado. I am an NRI working in Gulf and my wife stays with me. I intend to gift her an amount of USD 150,000 which she wants to use to trade in FampO category in Indian Stock Market. Is it allowed under FEMA/Income tax rules. Is there a gift tax applicable Can the funds be repatriated back incase required by me in future. Kind regards Broy Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. As you are an NRI, you need to follow the laws of country where you are resident. FEMA applies to Indian residents and NRIs for their activities in India. FEMA does not apply to NRIs transacting with other NRIs. So any transfer to your wife needs to comply with the gulf country of your residence. Once funds are transferred to India, FEMA will apply. 2. As per FEMA and Income tax, the funds will be of you wife. Also, NRI are allowed to trade in Indian stock market only on delivery basis through PIS. The investment through derivaties (F038O) can only be done on non-repatriation basis from NRO account only. Obrigado. Currently, I am working in USA on H1B visa. I came to US in JAN 2015. So for income tax purpose, I am Non-Resident Indian for financial year 2015-16. I have query regarding lottery winnings outside India. After reading other Q/A in this blog, I understood that if NRI wins lottery in USA, the lottery winnings can be transferred to Indian Bank account legally. If I win lottery in April 2016 and permanently come back to India in Jun 2016, I think I will be considered Resident Indian for financial year 2016-17. In this case, will I be able to transfer lottery won in April 2016 to my Indian bank account Will it be considered illegal If yes, that means, I will have to stay in US at least for 183 days of FY 2016-17 to make this lottery winning legal. I can travel back after Aug 30, 2016. Please advise. Thank You Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: As you are an NRI, you are allowed to play lottery as per Indian laws. Please check if you are allowed to play as per US laws. I think you are allowed as you are also an US resident. If you win, please contact us and we can help you with the transfer of funds to India and also invest to effectively to save your tax. Don8217t think too much. Tudo de bom. Obrigado. vyomesh shah says: Dr. Gopalkrishna Kamath says: My compliments to you sir, on a very practical and useful forum. My daughter in law Prabha works with TCS as a project manager and is posted to their US office. She has been staying in US for past 4 years and is likely to continue there for next 4 years. She and her husband are both N R I. She has her US bank account. In the Co operative Society building that we are now staying In Mumbai there is one flat for sale ( area of 600 sq ft at rate of Rs 15,000/ per sq ft ). It is owned by a US citizen ( originally an Indian from Mumbai but now permanently staying in US a medical doctor by profession. The cost of the flat is 90 lacs Indian currency. The two families are known to each other and have mutual confidence in each other. She is interested in buying this flat in our Society in Mumbai. She has a saving of (1) Indian Currency of Rs 15 lacs (2) US dollars of 40,000/- in her US bank now. The total price of the Flat if converted to US dollars will be about 110,000 US dollars. She is willing to pay stamp duty and register the document ( the seller has given power of attorney to her fathers brother living in Mumbai. ) My question is (1) can she make the payment of the flat in US dollars from her bank account in US directly to the sellers bank account in US. (2) Can she make the sale agreement (if both parties are agreeable ) that the balance of the payment of US 60,000 is paid to the party in monthly installments of US 2000 per month for next 30 months so that the whole transaction is directly paid to the seller in the US in US. (3) Instead of registering the sale deed in Mumbai can the sale deed be notarised and registered in the US in the city where the seller is staying. (4) as a guarantee for the payment of the entire balance she is prepared to deposit the entire set of documents with the seller custody till the entire payment is completed. (5)By this process both parties will save going to a bank for home loan from the bank and getting involved in the red tape and questions. (6) They will both save the transfer charges for converting the US to Indian Rupees and again back from Indian Rupees to US. and all incidental bank charges and bank commissions. Both the parties know each other and have mutual faith and confidence but still the paper work is necessary to be done properly. If registered in Mumbai the stamp duty and registration will be done here. I would be grateful if you would give your valuable opinion and advise. Thank you Dr. V..Kamath 13th October 2015. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: The mode of payment for an NRI buying an immovable property in India are inward remittance or transfer from NRO, NRE or FCNR account. Any other mode of payment including Traveller8217s Cheques or foreign currency note or direct transfer outof India is not allowed. If property is bought, it would be considered as buying of property in contravention of FEMA laws and NRI won8217t be able to repatriate the funds outside India. Obrigado. Dr. Gopalkrishna Kamath says: Thanks for your expert advise. 1. The seller is a PIO but now a US citizen and if the payment is all made in US there is no question of repatriation of funds. 2. The buyer is an NRI and will be in US for next 3 years and during this time she will pay the entire sale value to seller in US . She will return to India after 3 years and wants to live in the flat in India. So there is no question of selling and repatriation of funds at all. Even if she sells later on she will be happy to receive the sale value in Indian rupees. 3, The purpose or motive is not to cheat the Government but to avoid unnecessary paper work in transferring money in both ways by both parties. Based on this please suggest the best way out. Thanks Kamath 26th October 2015. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Money has to be paid via inward transfer or from NRO/NRE or FCNR account. Any other mode of payment (in US outside India) is not allowed. Paperwork is required to ensure compliance with laws and regulations. Obrigado. You8217re doing a great job by providing free consultancy on the internet. I8217m an Indian resident. I too have some doubts and questions : 1. In my free time I work for few online PTC/PTS sites and earned dollars which are less than USD10,000, Can i withdraw this money to my saving account via payment processors like Paypal/Payza 2. Recently I saw many Indians residents were actively participating in US based online HYIP programme and earning money, still my query is same, can I invest some dollars (via payment processors) in it and withdraw it to my bank account in India It is legal Waiting for your reply, Thanks. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. Any income even 1 needs to be included in your income tax return. You may withdraw/transfer funds to India. 2. US based HYIP program may be a ponzy scheme where you may not see any return. You have to be very careful in investing such programs. As per FEMA, you are allowed to invest outside India. You need to really understand the HYIP program that you want to invest in. HYIP is a grey area as if it is used for borrow/lending, it may not be allowed. Please check with your CA. Personal suggestion, Don8217t do it. Obrigado. Kola Buttu says: Your blog is very useful to number of people. I have a simple question. He is NRI and working in a company 8220X8221 abroad (outside india) more than 4 years now. Every year he will visit india for maximum 34days stay and return back. He is planning to stay in india permanently by this trip on JAN 22, 2016. Residing outside India period:- FY 01 Apr 2011-FY 31 Mar 2012 34days FY 01 Apr 2012-FY 31 Mar 2013 28days FY 01 Apr 2013-FY 31 Mar 2014 32days FY 01 Apr 2014-FY 31 Mar 2015 34days FY 01 Apr 2015-FY 31 Mar 2016 68days Is there any tax will have to pay for FY 01 Apr 2015 8211 FY 31 Mar 2016 because his stay in india exceeds 60 days will be treated as RESIDENT or 183 days will be treated as RESIDENT Please note after 22 JAN 2016, he dont have intention to go abroad for work or any other purposes, Happy to stay in India. Appreciated for your earlier reply. Kola Buttu says: Apologies Small Change Residing outside India period:- FY 01 Apr 2011-FY 31 Mar 2012 34days stay only in india FY 01 Apr 2012-FY 31 Mar 2013 28days stay only in india FY 01 Apr 2013-FY 31 Mar 2014 32days stay only in india FY 01 Apr 2014-FY 31 Mar 2015 34days stay only in india FY 01 Apr 2015-FY 31 Mar 2016 68days stay only in india Approximately every year more than 300 days stay outside india Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: As you are an Indian citizen, if you stay in India for 60 days, you would be a resident. However, as you have stayed less than 365 days in last 4 years, the status would be Not Ordinary Resident. As a Not Ordinary resident, your foreign salary income won8217t be taxable in India. If you don8217t want to get into complexity, take an international vacation of about 10 days and return to India after February 2, 2016. Thanks. Kola Buttu says: Dear sir. He is NRI. is there any limit to send TT to NRO or NRE A/C through money exchange house. How much can be send for a year maximum How much FEMA Act applies to this Many Thanks Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: There is no limit on money coming in to India. It is better to send big money through wire transfer from a foreign bank and pay 40-50 for international wire and then negotiate with the receiving bank for better exchange rate. Usually, you would be able to get about 40-50 paise better rate than the card / official rate. Obrigado. hello sir, first of all thanks for your valuable inputs on questions regarding forex trading its great source of information well i8217m residing in india. but after one month i8217ll setup business in dubai my question is as i8217ll open nri account in abc bank in india can i directly transfer my earnings of forex trading from my broker account to nri bank account, also how much can i transfer eagerly waiting for reply thank you Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Your business set up won8217t make you and NRI. you would have to physically out of India. Once you are an NRI and resident of another country, you are required to invest based on the rules of that county. If you are an Indian resident and controlling business in Dubai, its income will be taxed in India. As far as Indian laws are concerned, if you are an NRI, foreign income is not taxable in India. Obrigado. thank you sir and yes i8217ll stay in dubai for more than six month Kola Buttu says: He is an Indian Citizen, currently residing in the Saudi and working there for over 11 months now. I have the following question. He won a lottery 2 millions. Can he then transfer whole lottery winnings to his NRE account in India. Is there a limit to send Is it taxable implication for FY 2015-2016 and he will be resident of india FY 2016-2017 so is it taxable for 2 million for 2015 transfer I read as per FEMA Act 8211 it is prohibited and penalty will be thrice the amount transferred Grateful if you can respond to the query Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: If he is an NRI for income tax and FEMA, there is no tax on foreign income and he is allowed to transfer the money to NRE account. If the bank or income tax department asks for the source, he should be able to prove the same. Once he become a resident, his global income would be taxable. So while 2 million won8217t be taxable, any income on 2 million will be taxable. You will have to be very careful as with the new Black Money Act, the income tax department and FEMA both are keeping an eye on the money transfer and sudden increase in easy foreign income of NRIs. However, if it is genuine and you have all the proof, you would be okay. Obrigado. kola buttu says: Please explain your reply note 8220Once he become a resident, his global income would be taxable. So while 2 million wont be taxable, any income on 2 million will be taxable.8221 So 8211 what I understood is that, There is no tax on 2 million any part of time but from 2 million whatever income arises such as bank interest or other investment profit would be taxable. is it right Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Yes. 2 million earned outside India as NRI, not taxable in India. But any income from 2 million earned while resident in India is taxable in India. Obrigado. NRI has visited India during 30 days leave ( he is presently employed in Gulf). He want to open online Forex Trading Account with FXCM(UK) and remit the money through bank wire as trading deposit. Can he remit it through NRE Account maintained with Dena Bank, Mumbai by bank wire and what reason he has to mention in the declaration with bank. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: An NRI can remit the funds out of NRE account without any restrictions. I don8217t think there will be any question for the transfer. Obrigado. I have two question to Dear Jigar and I would be thankful for his guidance: My son who has been in USA past over ten years was stationed in Washington DC and had bought a house in one of the suburb. Since he is transferred to west. California, he has sole his house and contemplating to buy one there but finding houses available are far more expensive ( amounting to double of that he had and has now sold ). This has created problem to purchasing of a suitable house even in suburb. My question are the following: 1. He had purchased an apartment in India paying it in dollar. To ease out the present situation, he is toying with the idea to sell it. Can the sell proceed be repatriated to extent of amount invested plus any value appreciation of the property. 2. As a father, I would like to butt in to help him out to the extent of limit to tide over the situation so that EMI is on a comfortable level. If the answer is yes, what can be the limit I would be thankful for your guidance. Regards, Tarun Kanungo. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. Yes. He can sell the house in India and after payment of tax, he can remit funds to USA. 2. As a father you are allowed to gift upto 250,000 per year to him. Your wife can also gift the same amount to him. Please transfer funds directly into his US account. If you transfer to his Indian NRO account, he may need CA certificate in form 15CB and have to file 15CA for the transfer, unnecessarily complicating and delaying the transfer. Obrigado. Suhas Gowda says: I am living in the US for more than 3 years now working on H1B visa. I saw the rules on many of these big lottery websites(Powerball amp MegaMillions) and see that it is completely legal for foreign nationals to play and win the jackpots. Now my question is if I win the jackpot, say approx. 100 Million. 1. Will I be able to transfer the same to India after paying all the taxes in US Should I pay the gift tax of 40(after federal/state taxes) to be able to transfer to India 2. What are the taxes if any I would have to pay in India if the answer to the first one is YES Thanks 8211 Suhas Gowda Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Indian residents are not allowed to remit (transfer) funds out of India for playing lottery. As you are an NRI, rules are different. You are allowed to buy and play the lottery and also win and transfer the funds to India. If you win big, please contact us and we can help you with the transfer and taxation. Please note, there is no double taxation. Obrigado. Vinod Khanna says: what i understand is that Indian resident can not do forex in overseas currency (EUR/USD, GBP/USD). but some people saying that NRI can do forex. is it true from online i have found that if someone don8217t stay in India for 180 days he will be NRI. so isn8217t like people can take 180days vacation in Bangladesh or Pakistan and become NRI assume someone started overseas currency trade and after 5 10 years he want to withdraw the money. so last year of withdraw, he can stay outside of India to become NRI. now is NRI status permanently or if he lives in india for 6 month for an year in future his NRI will be canceled here i got another suggestion. if i make money from online in USD or other currency than INR and use that foreign currency to trade it will consider as legal. is it true in that case how can i fill tax return, how can i proof that invested currency was in USD. assume someone invested 100USD and make 50K USD or more after 20 Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: You have to be very careful for the definition of residential status. It is not that easy. For Indian resident on visit outside India, the person is resident even if he stays 60 days in India as per income tax. However, it is not important as the foreign investments are governed by FEMA. Under FEMA, if your intention is not of moving out of India, you will still be a resident of India under FEMA and all related rules will apply. I would suggest you contact your CA. Obrigado. I have two questions: 1. I am visiting US on business. I had spend some time with my cousin who is US citizen and has OCI. He bought me a Powerball ticket and smiled at me and said that if I win I can take the money back. That set me thinking as I have heard of FEMA rule. Now if the Lottery ticket is a gift (as he paid for it) and in case I won this how do I bring this money back to India While the ticket is a gift and the outcome is from the gift, how does FEMA treat such cases and Income tax. Lottery winning in US is perfectly legal, they deduct the tax and give you the money. 2. Again can my cousin (who is US citizen) gift me (India Citizen) cash What is the limit I understand there is a 40 gift tax in US under the hands of 8220gifter8221. Why under DTAA, it says the 1st right of taxing gift is at the hand of India. So in this case since my cousin is gifting me, Under DTAA he need not pay tax and the tax will be at hands of me in India, right Again if he is taxed at 40 in US, do I have to pay tax again in India Appreciate your comments. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. As an Indian resident, your global income is taxable in India. If any tax is paid in foreign country, you may claim it as a credit while filing your tax return in India. Also, gift received from your close relative is exempt from tax. Your cousin is not your close relative. 2. In USA gift tax is on giver so your cousin has to pay tax. As per Indian income tax, tax is on receiver. While your cousin may avoid paying tax in USA (provided he complete certain formalities), any gift from non-relative is included in your income any you would have to pay the tax. Obrigado. If I understand you right. My cousin does not pay tax under DTAA or based on his life time exemption on gift tax I am sorry to be persistent but just curious. As per DTAA the first right for taxation lies with India. One another thing is if there is a limitation in US to the amount to give tax and in India to receive Once again thanks for your wonderful post. I am sorry, my previous question, last paragraph was if there is a limit of amount you can gift to a non citizen by US Citizen and/or Indian Citizen to receive amount as gift from US as per FEMA (Exemption being non relative). Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: There is no distinction of US citizen or not. The rule apply to any individual. Also, FEMA would always allow foreign exchange coming in to India. The limit for gift from non-relative is under Income Tax in India and is Rs. 50,000 per year. Obrigado. Jigar, Not to beat the issue to death8230 based on several comments above looks like, 1. Any 8220inward8221 remittance into India from lottery won abroad (though it is legal there) is not permitted as per FEMA rules. 2. Indian resident cannot open US account to keep that money there as you need to declare the global income and thus source of income would be lottery and would be against FEMA rules. 3. Also, we cannot have someone who is citizen (Cousin) of that country claim the money on your behalf and gift you as you are only allowed to receive Rs.50,000.00 per FY from them Anything more would be considered money laundering. Is there a way out Like contact your firm or any of attorney or CPA firm to help us with this Also, I do not understand why FEMA is taking high 8220moral stand8221 rather than 8220economical stand8221 when it is not illicit money coming in to the country but the FEMA provision in fact forcing the resident Indian to take coercive approach. Comments on above would be greatly appreciated. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. As you are not allowed any outward remittance for purchase of lottery ticket, you can not win a lottery. And, any lottery winning would be illegal. 2. Indian resident is allowed to send money abroad for foreign assets/investments of upto 250,000 per year. But not for buying lottery ticket, which is specifically prohibited in FEMA. 3. Receiving gift from non-relative is considered as a taxable gift and included in your income in India as per income tax act. Economically, logically and statistically, it is proven that the percentage of winning a lottery is very small and many more people have to lose so that one can win. If FEMA allows inward remittance of lottery winning, FEMA would also allow outward remittance of purchasing lottery tickets, which would be a lot more than winning (on an average over a long term period). There may be other reasons, but this is my understanding of economical/logical reason in addition to the moral ground. Obrigado. Obrigado. That clarifies and clear. I will ask this last question and would cease from asking any more. Based on your answer 3. I can receive any amount of money as gift from non relative, correct The tax exemption is up to Rs.50,000.00, rest of the money will be taxed. In essence, if my cousin or someone in US citizen (non relative) gifts me large sum, I am allowed to receive them (without Limit) but needs to pay tax as it would included in my overall income. Where is the question of money laundering here Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: You would need to prove genuineness. Why a non-relative would give gift to you and not his/her family/close relative. Also, his networth/income. Income tax may inquire. The question of money laundering come when you have unaccounted income/cash that you give him and he would give you gift. Also, when you receive gift of Rs. 51,000, whole 51,000 is included as income and not just 1,000. Obrigado. Ignatious DSouza says: I am a Non Resident Indian for the last 33 years. I occasionally play EuroMilllions through Sydnicates. i. e. I am not playing directly but somebody is playing on my behalf who is a resident of Euro Zone. In case of a Big Win, Will I be able to receive the proceeds to my NRE Account. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: As an NRI, you are not taxed in your foreign income. I would suggest you to transfer the winning amount to your foreign account and then transfer the funds to NRE. Please also contact your CA or us if the amount is BIG for better planning for transferring money. Obrigado. Hello Sir GREAT JOB Sir i am akash from INDIA, resident of INDIA, Sir, I have Deposit 300usd in FXCM platform and trading last 3 months and have gained around 2000usd. And now i want to know withdrawn all my money i. e 1300usd in my Indian saving icici bank account, will there be any problem if yes then how i will tackle or crack, give me some solution. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: An Indian resident is not allowed to trade in overseas foreign exchange (forex) through internet or online trading portals. It is illegal and you should not do that. Please stop the trading immediately else, you may be in big trouble. Obrigado. I have deposited 102.5 in Skiill(Moneybookers) amp then i have deposited this money in hotforex(International broker) for currency trading. Now i have make some profit from that and withdraw it in Skrill(Moneybookers). Now i want to withdraw it in Indian bank, is there any problem if i withdraw this money in Indian bank. I am an Indian resident. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: An Indian resident is not allowed to trade in overseas foreign exchange (forex) through internet or online trading portals. It is illegal and you should not do that. Please stop the trading immediately. Obrigado. Dear Sir, I have recently transferred about 20K USD to my ICICI Bank Account (Normal Saving Account) from my overseas Bank in Myanmar. Myanmar Bank account shows money debited but it is still not credited in my ICICI Bank Account. Now almost 5 days. Please advice how to take this ahead. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Please check with your ICICI bank in Myanmar and obtain the fund transfer (TT transfer) information and then fllow up with your bank in India. Obrigado. hello, sir i need your response for this information sir, i use to have capital for forextrading in overseas by posting on forums or else by winning in contests so i trade with it and earn but since several days, as forex is told illegal in india. this making me worry but confidence i have is, i never used indian currency for deposit or trading in forex. i only use my contest winnings and bonus posting capital (as far as i am concerned i am not harming indian currency as i have not used it for deposit and trading and rather i do earn dollars and trade with it so when i bring that it will add economy to country as bringing in currency-i am not sure the matter i said was true or not but its my feeling) so i want information from you now that can i withdraw to my indian bank and pay taxes for it will there be any problem if we do like that and also if i want to pay tax when earned more than rs.2,50,000 within a year then what are needed for paying tax i. e do i need to show the statement of trading or what i. e i mean what are things i need to submit while filing a tax return please answer me all questions and i really appreciate your answer and thanks in advance Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Your query is confusing. Please repost with your situation and questions. Obrigado. Hello, Thanks for this helpful blog, truly informative. I am an OCI in US. My cousin, resident in India, has recently lost his job and is trying to sell his flat to pay off his mortgage, but selling will take time. I am thinking of helping him out with a personal loan (preferably by remitting from my US bank account via xoom directly to his mortgage lender bank in India) to pay off the Rs 35 Lac balance of his mortgage. This will relieve him of monthly mortgage payments while he is in the process of selling the flat which could take a few months. After sale, he will repay me the amount I sent. Would he be able to repay by means of outward remittance directly from his Indian bank account to my US bank account. We8217re wondering how best to go about this so that there would be no problem with outward/return remittance, and no tax implications for me. I don8217t currently have any NRE/NRO accounts 8211 would these be even necessary for this scenario. Would very much appreciate your insight. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. You and your cousin are not a close relative under FEMA and as a result, you may not give loan on a repatriation basis. Your loan to him would be on non-repatriation basis only. 2. The best way to go about the transaction would be that you transfer the funds as a loan to your cousin8217s savings account. He would make payment to the mortgage lender bank instead of directly transfering funds to the bank. 3. I would suggest you to wire the funds (pay 40 or so for international wire) and NOT use a third party money changes. For higher amount, you can negotiate with the bank where you are transferring the money for better exchange rate. My experience is that your average saving would be 50 paise (75 paise also) and if the transfer is 50,000, you end up saving 25,000 (way more than 2500 spent on international wire). 4. Only when any income is involved, you need to consider the tax implications. If there is no interest or other benefit, there is no income and no tax implications. 5. You do not need NRO/NRE account for transferring funds to your cousin. As your loan will be on a non-repatriable basis, when the amount is returned to you, it can only be credited to NRO account. Obrigado. Thank you very much for the guidance. Just a couple of follow-ups, if I may (thanks). On 2: sending the funds to my cousin8217s account is suggested 8212 it this because it establishes more clearly (for any documentation/proof purposes) that I8217m making the loan to him. Sending to his mortgage lender bank has one small advantage in that it would ensure that the funds reach the final destination . On 3: My bank (HSBC USA) quoted me a Rs53 () exchange rate yesterday for USD, whereas xoom and remit2india show about Rs60. I guess I will need to shop around other wiring banks. If, hypothetically speaking, exchange rates are approx equal (between Wire Vs xoom), does Wire still hold some advantage in terms of any documentation/proof that may be needed later On 5. Once the amount is returned to my NRO account, can I then repatriate it back to my US account. (The amount is well under the 1M limit, but you8217ve mentioned 8216non-repatriable8217, which seems to imply I cannot bring the amount back to US). I would be very grateful for any clarifications on the above. Thanks Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. That is the right way and establish a good money trail. Also, you need to comply with other RBI regulations. 2. I sincerely doubt that. You need not contact your bank in USA but the bank in India where you plan to transfer funds. You would definitely get better rates as banks in India are in need of foreign exchange. If you convert in USA, as they may not have INR, they give you really bad rate. 3. Yes you can but only through NRO. Obrigado. Hi, I8217m an Indian citizen and opened a forex account with an international broker. At the time of opening account I got 15 as bonus. Today, I have gt1500. Did I do anything illegal if I withdrew some of it and bought it back to India and paid tax on it here Best Regards, Rakesh Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. The question of legality comes when you invest through international broker and trade in forex. It does not arise at the time of withdrawal. 2. You would pay the tax on the transactions entered by you during the year. Income tax is on income and not on withdrawal. Obrigado. ithdrawal is Kamlesh D Mewada says: I have formed a pvt ltd company (One Person Company) specially for trading binary options and broker is cyprus based, but yet i have not yet started trading because application for business commencement certificate is not submitted. Am i contravention any law if i remit outside india but i am trading as a corporation. Please suggest. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: What is the person who approached with this plan say Also, Cyprus is a 8220Notified Jurisdiction Area8221 i. e. blacklisted by India for not providing information on tax evaders. Obrigado. can an indian resident trade in U. S commodity futures doing intraday trading by remitting margins from india by taking permission from Rbi Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: After taking permission from RBI, you can do anything as permitted. Obrigado. Thanks for this excellent blog. Can you please let me know how can I obtain RBI8217s permission to keep an overseas margin account. I am in US (Indian citizen) and currently trade US futures and options (in margin account) and would like to continue it after relocating back to India. Also, what is the duration of the permission 8211 is it one time or valid for many years. Thanks for your help and shining light on this complex subject. Obrigado. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: You can contact your regional RBI branch/office for the same. RBI is very co-operative and will explain in detail about the process and forms required/how to get the approval. Please note that you may continue to trade if your status is a non-resident as per FEMA/RBI. Obrigado. Thanks Jigar. I will try that. Dear Sir, I am Indian resident and i trade in commodity segment in MCX for past 3 yrs. Now i want to trade in US futures market. According to RBI LRS Indian residents are allowed to remit funds for investment in stocks but prohibited for margin or margin calls to overseas exchanges. Did RBI gave permissions for margin trading And Can i invest the profit of stock trading to margin trading As it is allowed to invest in stocks. Kindly clear my doubts. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: If RBI does not allow something, the source of funds in immaterial. Obrigado. Thank you for your very informative blog. My elderly parents are in the process of selling their home in India and moving all of their funds to the U. S.A. They are both green card holders . Can they move all the funds (after taxes) from the India bank account to their US bank account or does the RBI rules subject them to a limit. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: Your parents will be able to move all their funds to the USA after payment of taxes. As they are NRI, TDS needs to be deducted of the tax amount. For them The limit for transferring funds to USA is 1 million. The limit for 125,000 is for residents. Contact us if you need any help with TDS, taxation of sale of property or transferring funds to USA. Obrigado. Great article and very informative site. I have a situation and would appreciate if you can help please: I am US Citizen with OCI and came to India on vacation, however I lost my US job in this period and now I want to stay in India for few years to be able to spend time with parents and extended family and go back to US maybe after 5 or 10 or 15 years. I do not have any job now and hence no salary, so I was thinking of transferring my US bank account savings to India. Questions I have are: 1. If I transfer from US Bank to NRE a/c, do I have to transfer it from NRE to NRO since I wish to stay in India for few years. 2. Will I be able to transfer all this invested or unused money from India to US when I go back in future Will there be any tax implication or legal issue since I would have earned interest on the money I transferred to India 3. Actually it will be a big thing for me if I am able to get the US to India now since I will get decent interest to manage day to day expenses. Is there any other point or tax implication that I need to consider Thanks amp Regards. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. If you have come to India and wants to stay in India for an uncertain period, you would become 8220Resident8221 in India under FEMA. As a result, you can not maintain the NRO, NRE or FCNR accounts but need to transfer funds to your resident account (in INR) or Resident Foreign Currency (RFC) account (in foreign currency). 2. There is no tax on transfer. Tax is on the income. And, as per current provisions, if taxes have been paid, NRI can remit upto US 1 million. The provision may change in future. 3. Yes you can bring the money to India. If you need any help with investment consulting to get better after-tax return, let us know. Obrigado. Thanks Much for your prompt response. Per your response to point 2, it is good to know that we can remit upto US 1 million from India to US as of now. I will need help with some investment consulting, will reach out to you on your contact in few days time. Once again, appreciate your help. Saudações. You have mentioned that one may not remit foreign exchange for margin trading. I have a unique issue. I am an NRI about to return to India. I trade in margin instruments and derivatives at the moment. So I already have a fx trading account right now. If I were to return to India and become a resident Indian, can I continue trading in FX, margin trading etc with my funds already abroad I will not be sending out any money outside India. However, any profit will be brought into India and tax paid. Please advise. Obrigado. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: 1. When you return to India, your status would not change immediately to Resident depending on when you return. Also, residency requirement is different under Income tax Act and FEMA. 2. Whether you will be able to invest in Indian or Foreign securities or not would depend on the FEMA. Any trading in foreign securities on the exchange is allowed by residents. Also, NRIs are allowed to invest in exchange traded derivatives in India. 3. Taxability of income will be determined by the Income tax Act. Please contact your CA for details. If any question, do let us know. I think I haven8217t been clear. I do not wish to trade on the Indian Exchanges. I intend to trade in EUR/USD, AUD/USD, XAU/USD using margin traded derivatives on exchanges abroad. I already have a broker in Singapore through whom I am trading. I have been doing so since more than two years now and was wondering if I could continue to do so upon my return to India using my funds and accounts abroad. No money would be remitted out of India. Profits would be brought back in, and IT paid on the same. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: You may continue do that until your residential status is 8220Non-Resident8221 under FEMA. FEMA does not allow residents to trade in foreign currencies. Obrigado. Olá. I am taking loan of around 40k from my relatives and friends in US which I will return in a few months. Is it ok to receive money in my savings bank account in India thru online transfer and then return after sometime. Is there any tax or foreign exchange issue involved Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: I would assume that you want to borrow funds in US, transfer the funds to India and then payback after sometime. If you will be using the funds you sent to India to payback loan, I would suggest to transfer the funds in your NRE account as you would be able to repatriate without any restrictions or documentation. For India, you brought in dollars and you are taking the dollars back. Unless you make money on the funds you sent to India, no tax is involved. Obrigado. Hi, I am a NRI living in Anchorage, AK. Recently on my visit to India, I wanted to buy mutual funds from ICICI and Axis. The ICICI branch manager told me that the NRIs living in USA and Canada cannot buy Indian mutual funds. It does not seems right. Can you please clarify Kindly let me know the procedure for buying MF for US-NRI, since they did not opened my demat account. Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: As per RBI rules, any NRI can invest in or buy Indian mutual funds. Due to regulatory or bank specific issues, certain bank may not offer the service to NRIs or to NRIs from certain countries. Also, certain mutual funds may or may not accept funds from NRIs of certain countries. While you are allowed to buy Indian mutual funds, you may not be able to invest in ICICI mutual funds as they do not allow US based NRIs (ICICI has a JV with Prudential and Prudential being a US based company is not allowed to solicit funds from US residents outside US). However, you may be able to invest in schemes of other fund houses such as Birla, HDFC (no NFO), IDFC, Sundaram, etc. Let me know if you need any help with investments. Obrigado. Hello , We are currently residing in AZ, USA and planning to buy a property using funds from sale of property in India ( 250K). I would like to know the best option to transfer this to US. Are there any tax implications in US for the money transferred from India. Appreciate your input . Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says: As you are a NRI the forex remittance limit of 125,000 would not apply to you. This is for residents only. Your limit for transfer of funds is US 1 million. You would need to pay the tax before transferring the after-tax amount or take a chance (ready for multiple years and/or rounds of appeals) if you want to claim deduction of buying property abroad to save capital gains tax in India. Obrigado. Leave a Reply Cancel reply
Revisão completa de Keith Jones 60 Second Profit Strategy Última atualização em 2 de outubro de 2013 por Bogdan G Keith Jones 60 Segunda estratégia de lucro Lance os dados e espere. Passei a manhã inteira ontem pensando sobre essa estratégia e perguntando se as pessoas realmente usá-la. Você pode encontrá-lo aqui: www.60secondprofits. É desenvolvido por um ex-comerciante chamado Keith Jones. Segundo ele, trabalhou por 8 anos no setor financeiro como corretor de ações da Canary Warf por 7 anos e Wall Street por 1 ano. Muito experiente trader. if o que ele diz que é verdade. A estratégia 60 Second Profit consiste em abrir uma seqüência de negociações binárias no par EUR / USD seguindo uma série de 5 etapas predefinidas. Na primeira etapa, devemos verificar a coluna Popularidade e sempre ir com a porcentagem mais alta. Então, se os comerciantes insight favorece Put, então vamos negociar apenas Coloque em todas as nossas etapas a seguir. Passo dois exige-nos para abrir um comércio com 5 in
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