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Are FCNR deposits with Forward Cover Completely Tax free for NRIs in India?

  • 26 Aug 2013
  • Jigar Patel
  • Income Tax, Investment Product Analyzed, Investments in India, NRI Investments, NRI Taxation, Wealth Management
  • 43 comments

Recently, due to volatile rupee and favorable currency exchange rates, Banks have been aggressively marketing to NRIs for investments in the FCNR deposits with Forward cover highlighting a limited time opportunity comparing the yields with NRE Fixed Deposits. Banks have been selling the idea as an Arbitrage (Risk Free) opportunity between […]

Revised RBI Guideline relating to EEFC, RFC and DDA Accounts for conversion into Rupees

  • 01 Aug 2012
  • Jigar Patel
  • RBI / FEMA / Other Updates - Analyzed, Treasury Management
  • 8 comments

On July 31, 2012, RBI has revised its guidelines related to EEFC (Export Earners’ Foreign Currency) Account vide  notification RBI/2012-13/151 A. P. (DIR Series) Circular No. 12. As per revised guidelines, credit of 100% foreign exchange earnings to the EEFC account is allowed subject to the condition that the sum total of the accruals in […]

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The Company is built on the history of over 70 years of family experience, professional values, ethics and customer satisfaction. The foundation was laid in 1947 when Mr. Jivanlal Patel, father of our advisor Mr. Naresh Patel started M/s. R. J. & Patel Co.

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