Tag Archives: NRE

How to plan your investment in current scenario after Budget (No 2) 2019?

This gallery contains 1 photo.

Union Budget (No 2) 2019 takes us a step closer to achieving short term goal of becoming a $5 trillion economy by 2024. The biggest theme of the budget was Connectivity. In addition, it also addressed liquidity issues, relaxed investment … Continue reading

More Galleries | Leave a comment

15CB, 15CA Procedures Updated: Understand new procedures applicable from April 1, 2016

This gallery contains 3 photos.

Finally, the Central Board of Direct Taxes (CBDT) issues Notification no. 93/2015 dated December 16, 2015 that is both reasonable and practical for anyone making payment to a non-resident or an NRI remitting money outside India or transferring from NRO … Continue reading

More Galleries | 695 Comments

“Non Filing of Income Tax Return – Reg.” notice and Eye-opening Reality of Information Gathering by IT Department

Recently, the Income Tax Department (ITD) has become very aggressive in widening the tax base through identification of stop-filers and non-filers by issuing notices to  persons who it thinks may have filed the return. The notice would say,  ”The Income … Continue reading

More Galleries | 65 Comments

NRO to NRE transfer Update: 15CB/15CA required for Both “Taxable” and “Non Taxable” Transfers

From June 1, 2015, any person making a payment to a non-resident, including an NRI transferring funds from NRO to NRE account would be required to obtain a certificate from a Chartered Accountant in form 15CB and file form 15CA … Continue reading

More Galleries | 449 Comments

15CA/CB rules revised Again: 15CA/CB May NOT be required for NRO to NRE transfer

CBDT vide notification 67/2003 revised the rules and procedures AGAIN for payment to NRI. And this time, for good. The updated rule will also be effective from October 1, 2013. I hope they do not change the rules again. 1. As … Continue reading

More Galleries | 558 Comments

Revised Forms 15CB/15CA and Updated Procedures for Outward Remittance of money (including NRO to NRE transfer)

On August 5, 2013, CBDT (Central Board of Direct Taxes) changed the rules, procedures and forms for making payment to a non-resident from October 1, 2013. The revised forms and procedures will also be applicable for transfer of funds from NRO … Continue reading

More Galleries | 268 Comments

Rare and Small window of Opportunity to Invest in Debt in India

Recent Steps by RBI to curb rupee depreciation (reduce gold import and tight liquidity in banking system) has led the short term rates and bond yields hit record high, giving a unique opportunity for investors to invest in debt at … Continue reading

More Galleries | Leave a comment

Webinar on NRI Investments and Taxation – Opportunity for NRIs to enrich their Knowledge with latest rules and regulations

India has always been the most rewarding and sought after destination for investments for NRIs due to higher interest rates and growth potential. However, their experience may not be excellent mainly due to theirs or their advisors’ ignorance of rules … Continue reading

More Galleries | 4 Comments

Should NRIs invest in FCNR deposits with Forward Cover?

With FCNR rates regulated by RBI and volatile foreign currency market, a lot of banks have introduced and are marketing products for NRIs to generate more return on FCNR deposits. While there are catchy names used for the plans by … Continue reading

More Galleries | 128 Comments

RBI allows transfer from NRO to NRE account 3: Procedures for Transferring funds

A lot of NRIs have shown interest in transferring funds from NRO to NRE since the notification came out on May 7, 2012. However, very few have actually transferred funds. This is mainly due to the lack of awareness or … Continue reading

More Galleries | 380 Comments

No Additional Interest benefit on NRO, NRE and FCNR deposits (e.g. FD) to NRIs

On July 18, 2012, Reserve Bank of India (RBI) vide  notifications RBI/2012-13/136 and 137, DBOD.Dir.BC. 29 and 30/13.03.00/2012-13 withdrew the discretion given to banks to allow the benefit of additional interest rate of one per cent per annum on NRE, NRO and … Continue reading

More Galleries | 2 Comments

No Service Tax on NRI Money Transfers from abroad (Inward Remittance) – CBEC

CBEC (Central Board of Excise and Customs) Circular No. 163/14/2012 –ST dated July 10, 2012 clarified that there is no service tax per se on the amount of foreign currency remitted to India from overseas. This is a good news for NRIs … Continue reading

More Galleries | 34 Comments

RBI allows transfer from NRO to NRE account 2: Understand Tax Drag and Why transfer.

I have been receiving lot of inquiries whether to transfer, when to transfer, whether to break NRO FD to transfer funds out of NRO to NRE accounts and many more. My answer has been and is always going to be … Continue reading

More Galleries | 20 Comments