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Showing posts from December, 2019

Selling Properties in India? Rules Every NRI should Know

NRIs are allowed to buy and sell properties in India, and they can also bring the profit post-sale of their property abroad, but there are a couple of things which you need to learn and remember. For example, you need to know that the sale proceeds amount can only be deposited into your NRO account and not on your NRE account .  There are many similar points that every NRI should know and remember before selling their ancestral or self-bought properties in India. I have tried to list a couple of them in this article. If you have any suggestion or any other essential things which are not on this list, please suggest in comments. Read more »

Can NRIs Invest in Public Provident Fund or PPF?

Can NRI Invest in Public Provident Fund or PPF? Answer to this question is both Yes and No. Since a n NRI cannot open a new PPF account , so it's not possible for them to invest money in public provident fund, but if an NRI already has an active PPF account, opened when he was resident then he can continue to invest in PPF . Like other resident investor, he can invest up to Rs 1.5 lakh every financial year i.e. from 1st April to 31st March. Read more »

Why Non Resident Indians (NRI) Need to Open NRE or NRO Account?

Many of my NRI readers ask me frequently, should I open an NRI saving account in India? Is it must for an NRI to open NRE or NRO account? Can I continue my existing Saving account in India? etc. Well, If you are going abroad for short term let's say less than 6 months then you don't need to open an NRE or NRO savings account and you can continue to maintain your existing Resident Saving account in India, but you are going overseas for long term e.g. more than 6 months you must inform your bank about your NRI status and subsequently then will convert your Resident Saving account to an NRO (Non-Resident Ordinary) account. Read more »