Tag Archives: FEMA

Budget Analysis for Investors: How to Efficiently Plan your Investments NOW for Maximum Benefit

Posted on February 28, 2017 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

Budget 2017 has proposed many important changes related to investments. Efficient Planning of your equity, debt as well as real estate investment could materially affect the investment returns. I have analyzed the effect of major changes proposed in the budget … Continue reading →

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Rs. 500 and Rs. 1000 Currency notes No longer valid in India from November 9, 2016 – An Analysis

Posted on November 8, 2016 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

“From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. These notes are just papers from tomorrow,” said Prime Minister Mr. Narendra Modi. The announcement was made to combat black money, corruption, counterfeit currency … Continue reading →

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

Posted on April 1, 2016 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)
15cb 15ca procedure flowchart effective April1 2016

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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 →

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

Posted on May 14, 2015 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

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 →

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

Posted on September 6, 2013 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

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 →

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

Posted on September 5, 2013 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

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 →

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

Posted on June 8, 2013 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

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 →

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

Posted on August 3, 2012 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

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 →

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

Posted on July 4, 2012 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

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 →

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RBI allows transfer from NRO to NRE account

Posted on May 23, 2012 by Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India)

As per RBI’s notification RBI/2011-12/536 dated May 7, 2012, NRIs are eligible to transfer funds from NRO account to NRE account within the overall ceiling of USD one million per financial year subject to payment of tax. Such credit of funds to NRE account … Continue reading →

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