Category: Foreign Currency Non-Resident
Gifts and Inheritance – Things NRIs Must Know
Non-Resident Indians (NRIs) often receive gifts and inheritance assets from loved ones in India. While these acts stem from love and tradition, they carry legal and tax implications that should not be ignored. Understanding the Foreign Exchange Management Act (FEMA) and the Income Tax Act (IT Act), as well as associated compliance procedures, is crucial…
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Understanding the Portfolio Investment Scheme (PIS): A Flow Chart Guide for NRIs
The Portfolio Investment Scheme (PIS) is a Reserve Bank of India (RBI) initiative that enables Non-Resident Indians (NRIs) to invest in India’s stock markets through their NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts. If you’re an NRI looking to build wealth in India, understanding how PIS works is key, and the accompanying flowchart illustrates…
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What is a Foreign Currency Non-Resident (FCNR) fixed deposit account? know about its features and benefits?
Introduction – Foreign Currency Non-Resident (FCNR): For Non-Resident Indians (NRIs), managing foreign earnings efficiently is crucial. One effective way to achieve this is through a Foreign Currency Non-Resident (FCNR) fixed deposit account. This account allows NRIs to deposit their foreign income in India without converting it into Indian Rupees, thereby avoiding exchange rate risks. An…
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