HUGE Penalty if you don’t do this before going to Canada | Canada Malayalam Vlog | NRE, NRO accounts

HUGE Penalty if you don’t do this before going to Canada | Canada Malayalam Vlog | NRE, NRO accounts
There is NRE Account and NRO account.
Non Resident External (NRE) Accounts are to deposit for overseas earnings.
Non Resident Ordinary Rupee (NRO) Accounts are for depositing income earned in India.
The two distinctions above doesnt explain the consequences. The feature that makes a difference is that NRE account is fully repatriable. What that means is that if you are an NRI earning money abroad, you have an option to save your money in an NRE account in an Indian Bank. You get a slightly better interest rates that what you get abroad. The balance is maintained in INR, so you run the risk of exchange rate changes. But you can otherwise treat it like any other bank in the country of your residence.
If you are an Indian citizen living and earning abroad on a work permit and you don't have plans to change your citizenship then you would want to get back to India with your money. In that case an NRO account helps. It offers you the same interest rates that resident Indians get. But you pay 30% income tax on it. You have a limit to withdrawal of money in foreign currency. The limit is pretty high - $1 million.
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[@anjitharajkumar069]

Good information chta

[@Kickers-Corner]

Good info ❤ ഇത് അറിയില്ലായിരുന്നു.

[@rexonalphonse4405]

Thanks for sharing this information👍👍👍

[@mujeebrahmankavungal7125]

Thank you bro! Good information ❤

[@collegelife3861]

Gd information thk u👏

[@explorewithbhasi]

Not just for Canada.. for every abroad country its applicable

[@antonyaju3997]

Thank bro Good information

[@explorewithbhasi]

❤️❤️

[@bibinks7977]

Good

[@syamprakash.s.u3918]

Bro enik natil 5 accnt und dfrnt bankl... So oronum oro purps nu use cheyynthanu.. Like housing loan, Jewel loan, personl loan, FD, etc.. 2 acnts mathram anu regulr ayi use cheyunth.. Apo entha cheyende.. Nilavil liabilty ulla aacnts NRO akiyal prblm undo??? Ennit oru New NRE acnt eduthal mathyakumo natilek mny tnsfr cheyan?

[@explorewithbhasi]

Use cheyatha accounts close chyuka Use chyuna (eth purpose ayalum) accounts NRO aakkuka.. Ethengilum bank il puthiya oru NRE account open chyukayum venam.. nattilek cash ayakumbo swantham NRE account ilek ayakuka.. ennit athil ninnu family de ardelum account ileko namude other NRO accounts ileko tranfer chyaam

[@jubinajohn9355]

Nattil swanthamayitt Oru accountum illatharvrk veettilek cash ayakan pattille..vere arelum savings accountilek..Canada to India cash ayakunne ways parayao..

[@explorewithbhasi]

Yes, resident ayitulla arude engilum account ilek ayakam.. But avark athinte source chilapo kanikendi varum.. income tax notice enthelum vannal.. tax bracket 2.5 lakh il thazhe varunavarnel issue illa.. one time oke ayakukayanel ok aanu .. Avdunu cash ayakan kore apps und.. review chythit oru video idaam

[@georgethomas5437]

Pl update new information

[@adithi5919]

Does this rule apply for sep 2024 also

[@elizabathjames2759]

Ente parentumayittulla joint account ahnu ..athilanu student loan ullathu athu nro account akkno..abroad povunnathinu munney nro account akkano

[@explorewithbhasi]

Joint account nro akkanda.. parent resident aayit ivde thane undallo..

[@eldhogeorge7238]

Anyone please help......1 year pg diploma course eduthitt second year vere eethelum collegil club cheyth edukkumbol IELTS mandatory aahno in canada?

[@jobinkuriakose7289]

Yes

[@shajuchelakkal6712]

Sir I'wld like to know whether 50 years above person can get a work visa in canda

[@explorewithbhasi]

Its tough, but still there are chances.. all the best

[@sai_ks]

Should have been organised better, soo confusing to follow

[@satheeshpriya8252]

Wes, ചെയ്ത ഒരു വീഡിയോ cheyumo

[@explorewithbhasi]

Sure, Nale upload cheyam

[@explorewithbhasi]

kzbin.info/www/bejne/eabaZJykgcpohJI

[@lilymj2358]

Useful infn. Planning to go in Jan 2023. Which nationalised bank in india is easy to deal cash from canada..

[@explorewithbhasi]

Federal bank is good. I only have experience with them. Also all other private banks offers same kind of service I think

[@lilymj2358]

@@explorewithbhasi tk u

[@jishnuneelakandan5870]

ICICI kore unde avide

[@salafussalihvp3965]

What's app number tarumo offer letterne kurich ariyaanan

[@ytkl10]

Manassilayilaa

[@syamprakash.s.u3918]

Work permit viza yil September pokuvan prepre cheyuva bro.. So your valuable comments pratheekshikunnu

[@explorewithbhasi]

Sure, Use cheyatha accounts close chyuka Use chyuna (eth purpose ayalum) accounts NRO aakkuka.. Ethengilum bank il puthiya oru NRE account open chyukayum venam.. nattilek cash ayakumbo swantham NRE account ilek ayakuka.. ennit athil ninnu family de ardelum account ileko namude other NRO accounts ileko tranfer chyaam

[@syamprakash.s.u3918]

@@explorewithbhasi Thank you so much bro😍 njn matoru video yilum dbt ettirunnu. Bro reply thannirunnu 😍 thanks for all the support

[@redakteurcuts]

Bro njan ee month 19th pokum...so ipo nre open cheyan time ondo

[@explorewithbhasi]

Yes indallo.. maximum 2 weeks edkolu

[@jismathew66]

Njaan UAEil work cheythapo njaan NRE account eduthaarnnu... UAE ninn exit adich naattil vannit 1year aayi.. Same time veere 2 bankil njaan savings account eduthaarnnu... Ini Canadayk poovumbo enik UPI transactions cheyyanenkil savings account illand pattullelloo... So ath close cheyyenda avasyam undo

[@explorewithbhasi]

NRO account akkkiyal mathi .. athil upi transactions patum

[@jismathew66]

@@explorewithbhasiNRO account UPI cheyyan pattilla enn Bank paranju... South Indian Bank

[@explorewithbhasi]

@@jismathew66 I am still using My NRO ACCOUNT for indian upi transactions .. NRE account aanu UPI transactions nu patilathathu

[@jismathew66]

@@explorewithbhasi Yaa... It should be like that. Njaan bankil choychappol avr paranjath UPI application NRO NRE account aayit identify cheyyunath kondaan ennann... That's why I take a normal savings account in Federal bank

[@krishnakumartharayilkomala519]

We all know we need NRE account but I didn't know this much in detail..bro ethe bank inte service nalatha for NRE account..which bank you have account with? If I already have SBI bank account, can't I open NRE account in the same bank.

[@explorewithbhasi]

My NRE account is with Federal bank. You can open NRE Account with the same bank. Also convert your existing account to NRO.

[@krishnakumartharayilkomala519]

@@explorewithbhasi but NRO is only for those people who have income from any source in India..right.

[@explorewithbhasi]

No, even though You don’t have income a non resident can’t hold a resident account .. its FEMA regulation issue/notice can come when you have are using a resident saving accounts while holding Non resident status

[@explorewithbhasi]

People who have FD, they wont convert their account because for NRO account FD Bank deduct 30% from the interest, but later this can be claimed While filing the ITR For resident account they wont cut this 30% from interest, so NRI people don’t convert their account to NRO, but its not safe , any moment RBI/IT can send you a legal notice on the same

[@krishnakumartharayilkomala519]

@@explorewithbhasi So..NRE is the best

[@NIKHIL-fl5ue]

join account ene scn ondo ?? bcs ente um papa de yum joint anu nan canada ke student ayi pogu anu !!

[@DopeHub]

bank said it's better to convert to nro, even if it's joint account to avoid any future troubles

[@Alphamen__]

Joined A/C aanenki scn illa

[@soorajs5735]

bro ente joint A/C aanu loan eduthathu so appolu onnum cheyandalo le ?

[@DopeHub]

Hi bro, education loan ulla savings account nro aayit convert cheythal enthenkilum preshnam undo?

[@explorewithbhasi]

Please ask/email Bank. Education loan ullathayathond convert cheyuna karym engane anennu avare clear ayit parayan patu