Loading in 2 Seconds...
Loading in 2 Seconds...
A subject of India or any individual of Indian birthplace who lives out of India is named as non-occupant Indian or NRIs who are permitted to put resources into the shared supports in India on the repatriable or non-repatriable premise Click here for the details… http://www.coldwellbanker.in/blogs/things-know-about-nri-investment-mutual-funds-india
Home>Blogs> Things to know about NRI investment in mutual funds in India
Things To Know About NRI Investment In Mutual Funds In India
77 / / / s y
THINGS TO KNOW
ABOUT NRI INVESTMENT IN MUTUAL FUNDS IN INDIA
A citizen of India or any person of Indian origin who resides out of India is termed as non-resident Indian or NRIs who are allowed to invest in the mutual funds in India on the repatriable or non-repatriable basis which is subject to regulations that are prescribed under Foreign Exchange Management Act (FEMA).
The application form filled as well as signed by Non-resident Indian must be submitted at the official points of the acceptance. It must be accompanied by the payment instrument that is drawn in favor of the scheme. Applicants must indicate whether the investment is made on the repatriable or the non-repatriable basis. KYC papers, as well as the copy of PAN, must be provided.
Power of attorney holder
The power of attorney holder can operate and open a mutual fund account on the behalf of the non-resident Indian. To operate the account of a mutual fund, the POA has actually to be registered with a mutual fund.
The POA holder has been submitted to the original copy of POA or the duly notarized copy of the POA. It must be duly executed with the signatures of both Non-resident Indians and POA holder.
If the investment is on the repatriable basis, payment instrument must actually be drawn on FNCR or NRE account of the investor. The investment on the non-repatriable basis can actually be made by drawing the payment instrument on FCNR/NRE/NRO account of the investor.
It proceeds after deduction of taxes which are paid in rupees by cheque to the account number provided. Also, some of the banks offer a direct credit of redemption proceeds to NRO/NRE account. If the investments are made on the non-repatriable basis, the redemption proceeds are credited to NRO account.
Tax deduction at source of capital gains is actually made on investments by NRIs. Investment in the equity funds held for more than a year is exempted from tax and thus o tax is deducted at source. A digitally signed TDS certificate is sent with redemption proceeds.
Points to note
• Overseas address is compulsory field that needs to be filled in mutual fund application that is made by non-resident Indian
• The investment carries correct of repatriation of capital appreciation and capital invested till the investors' remains an NRI
« PREV ARTICLE
There is 0 comment on "Things to know about NRI investment in mutual funds in India".
Submit A Comment
BHAtWn JblAukuiUlwi Jn.
Cities To Become Smart With GIS TechnologyThere has been Lot of buzz around the...
On June 22,2016
E8 Reasons You Should Consider Buying Than RentingIn the current monetary atmosphere, there is no...
On June 10,2016
RERA Regulation BiLL Brings Cheer In Rajyasabha Assembly
The RERA (Real Estate Regulation Authority)has certainly brought...
On June 22,2016
Competition For Real Estate Agents In India By The World's Biggest Brokerage FirmIf you are fed up of continuous calls...
On May 3,2015
CoLdweU Banker Principled RealtyWhen we visited Knox Realty office for the...
On March 3,2015
&Property T rends
Laws Prevailing NRI Realty Investment In India
Special thanks to the new real estate rules of buying a property...
What Do Developers Get For Constructing Green Buildings?
Provided the cost that green residential commands, most of the home buyers...
What Are The Property Rights Of Christians In India?
The property rights of Christians in India are governed by India Succession...
NRIs To Buy Realty In India Through Frictional Interest
The realty sector which has remained comparatively untouched by the digital revolution...
Home Renovation Myths
Remodeling is important for each home and involves strict timelines for the...
Top Cities For NRIs To Invest In India
Indian realty has always drawn the attention of the non-resident Indians simply...
How To Make Your Home Music Inspired
Is Home decoration on your mind? With many options that are available...
Impact Of RERA On NRI Investment In Indian Real Estate Market
The Indian real estate market has been pretty attractive for the non-resident...
NGT Questions Government To Exempt Small Real Estate Projects From Former NodThe National Green Tribunal has directed the Ministry of Environment and Forests...
Phone No. : +91 22 6736 4000 Email:info@coLdweUbanker.in
© Copyright 2017, Coldwell Banker India. All rights reserved.