NRIs - Financial Transactions Restricted & Permitted with approvals | FEMA & IT Act
Video is created by our Guest Speaker - CA Yogesh Katariya, Sr. Partner, SPAY & Co. in Pune.
Major Topics Discussed in the video -
• FEMA (Foreign Exchange Management Act) NRI Vs Income Tax NRI.
• What a FEMA NRI is allowed to do?
• I am NRI, Can I buy Agricultural Land?
• Being NRI, Can I Invest in PPF(Public Provident Fund), NPS (National Pension Scheme), NSC (National Savings Certificate)?
• I am NRI, Can I claim Deduction for Home Loan Interest/Principle?
• I am NRI, Can I buy Shares or Mutual Fund?
• I am NRI, Can I do Intraday Trading?
• Being NRI, Can I Gift movable / Immovable Property?
• Being NRI, Can I Claim Deduction under Chapter VI-A or U/s 80?
• Being NRI, Can I Donate an Amount or Property?
• I am NRI, Can I do Renting of Immovable Property?
• I am NRI, Whether my NRE Interest is Taxable?
• Can I have NRO / NRE Joint Account?
• Being NRI how much can I remit outside India?
• Being NRI, can I do Agricultural Activity?
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Пікірлер: 55
Well explained and nice presentation, 🇮🇳Jai ho
Very useful informative video. Thanks Yadnya...😊😊
Thanks for the Knowledge sir
Thanks for sharing information. What exactly it means when you say oci can't involve in agricultural activities or cultivation? In my case, I am going to get agri land via inheritance and it has got plantation. Can I take returns from and maintain the inherited farm property?
Thank you sir for this video but I also want know about REIT how can any invest in this??
Sir ,very informative video, just want to clearify (if I heard the video correctly),if a person with NRI Status(both Income tax and FEMA) comes to India and after 1 month closes NRE Account and becomes FEMA Resident Indian status (but according to Income Tax Law NRI Status),will his NRE Fixed deposit Interest be taxed after 1 month or after 182 days(as he is Income Tax Statius NRI for 182 days)
NRI holding existing PPF account can continue maintaining account but can't contribute yearly 1.5 lakh each year till maturity period ?
Can NRI hold indian credit card which can be used domestic or internationally ?
Kindly advise if PIS account is required for NRO account for stock trading
@spay4371
3 жыл бұрын
now not required.. earlier it was required
Can an NRI transfer money from his foreign bank account or NRE account to his Indian relative’s savings account
Thanks for the informative video. Couple of questions: * So, if NRI wants to invest in MF or shares in India directly (like how one does as a resident of India), is it not allowed? * What is NRE and NRO account, and what are its uses? (If Yadnya has made any videos on this topic, please let me know, thanks).
@spay4371
4 жыл бұрын
Yadnya has video on NRE and NRO account..
@RamKumar_e
4 жыл бұрын
@@spay4371 I did search in the channel search bar before but I couldn't find it. Please share the link if you have it handy, thanks
NPS is allowed. Please recheck. I opened and have an active NPS account as NRI
@cbvmathcbvmath
3 жыл бұрын
You are right. Infact the PPF contribution is also allowed until maturity. But I cannot extend it anymore. I got this info from my Bank.
@spay4371
3 жыл бұрын
Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..
Thanks for the information..Can you share more details on transferring fund from NRO to NRE
@spay4371
4 жыл бұрын
Surely..
one person is NRI who buy Agri land in 1985.what they do
Hello sir, investing in equities from parents account I don't see any issue, do u see?
@spay4371
4 жыл бұрын
As it is through their account. Its their investment.. No issue..
Transaction approval is required from whom..? Example : Purchasing a residential property and earning interest from NRE account. etc.., who should give approval for this...???
@spay4371
4 жыл бұрын
From RBI. Not all transactions required approval. some are freely allowed
Nyc
Nps is allowed for nri .While opening itself it is stating as nri or normal. I opened with nri status and contributing regularly.
@spay4371
3 жыл бұрын
Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..
R u sure nps contribution is not allowed? Bec I have NPS account which I pay through my NRE account and its allowed. Pls check and confirm sir
@spay4371
3 жыл бұрын
Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..
Wether NRI son can give gift to father Indian resident on visitingIndia on father’s birthday 18:28
Just one feedback. This video can be shortened. There are too many repetition in video which makes video very slow.
@spay4371
4 жыл бұрын
Thank you for your valuable input.. will take care in next video..
@keeplearning641
3 жыл бұрын
@@spay4371 I would suggest to keep the videos/discussions slow enough - I guess, the current speed is very good. Trust me, it actually did help me understand what Yogesh tried to explain. Thank you for help!
You mentioned PPF and NPS not allowed. But said PPF can be continued. Similarly how about continuing contribution to an existing NPS account? Can it be done?
@spay4371
4 жыл бұрын
No, You can not contribute..
@cbvmathcbvmath
3 жыл бұрын
@@spay4371 I think this is incorrect. One can create NPS as an NRI. I just did created an NPS account as an NRI 3 months ago.
@spay4371
3 жыл бұрын
Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..
@sandeepkrao
3 жыл бұрын
@@cbvmathcbvmath I stopped following this CA long back after I got the wrong info ... I knew the same day when I saw the reply that the CA isn't doing his homework before responding
Could you please check and confirm regarding investing in NPS...I think it is allowed as NRI? Thanking you in advance
@spay4371
4 жыл бұрын
Self contribution of 50K not allowed. if paid by employer, then only allowed..
@spay4371
3 жыл бұрын
Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..
How about education education fees for nri kids will it be high?
@spay4371
4 жыл бұрын
No..
Thanks sir, Can NRI invest in LIC policy?
@spay4371
4 жыл бұрын
Yes
Tier Two of NPS is permitted to NRIs
What is definition of NRI
NPS shayad allowed hai...
R u sure that NRI cannot invest in NPS ?
@spay4371
4 жыл бұрын
NPS contribution by Employer is only allowed, self contribution of 50K nor allowed
@spay4371
4 жыл бұрын
*not
@dkgupta564
4 жыл бұрын
I am referring to private NPS. In this case there is no employers contribution. Just to clarify that I am not asking for IT benefit while investing in NPS. Just a simple question - If investing in NPS by a NRI is restricted by FEMA or IT law ?
Good information but extremely poor presentation. Terrible 😐 Sentences/topics are being repeated multiple times. 🤦🏽♂️
@spay4371
4 жыл бұрын
Thank You for your valuable inputs. Will take care in further videos..
@keeplearning641
3 жыл бұрын
@@spay4371 I would say the opposite. Sentence/words repetition is actually necessary to help the listener understand the topic properly. I appreciate the speed of talking/discussion - it's highly focussed on helping the viewer and listener instead of just speaking in front of camera.