NRI Special Episode Transfer Money Out Of India How To Do It Legally ?

#nri #nrimoneyclinic #retirementplanning
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[@sreedharanmenokey3488]

Excellent-Millions of salute to CA Sriram Rao and Dr.Chandrakanth Bhat-I think CA Sriram Rao is not only a tax expert but also an excellent teacher Thank you both very much Eagerly waiting for similar videos

[@deenadayalanthirumala2318]

Excellent information, Especially Dr.Chandrakanth Bhat excellent questions and making the normal persons.

[@ramachandrandevasundaram5217]

What's the most important requirement of NRIs is Dual Citizenship.... What you are talking about is how increase the Forex Reserve for Indian Government

[@AllwinJeba]

India does not allow dual citizenship. Period. Either you are Indian or you are not. You can't have both Apple and Orange. Pick one. What he is talking about is how a non resident can take money outside of India to his foreign bank legally.

[@AbubackerSiddiqPulakal]

NRI money clinic videos are useful, but in a sense, incomplete as it doesnt mention the tax liabilities of NRI in the country they are Tax resident. Some of the smart ways discussed as money saving ideas may not be as good in effect. Either you should keep putting disclaimer every opportunities or include someone familiar with Tax rules in western countries, most have similar rules but fine points may vary.

[@cyberbud]

Very hard to understand, he seems to be simply reading from Google and making a point. Please make it easy to understand, we don't know the CA's terminologies.

[@AntonioGomes-wc3ul]

Awesome Advice 🎉for someone with no idea of Banking RBA guidelines and FEMA regulations needs to listen think carefully and then make a decision with Tax consultant or CA ❤

[@GKBhat-de6lq]

Very informative and useful.As i understood from Mr Sriram's talk is- when a NRI wants to transfer funds credited to his NRO account out of sale proceeds from say, inherited immovable property on which applicable IT is paid and IT assessment order(ITAO)with Nil dues is since recived,there is no need of 15CA/15 CB certificate from a Chartered Accountant.But here is Bank which still insists for such remittance. As per Mr Sriram,they can ask for sale deed copy and lTAO and not 15CA/15CB.Kindly clarify/ confirm again

[@AY33UK]

Totally agree I have experienced lot of problems with ICICI bank

[@rugminir8169]

For me also CA, CB was demanded by the bank.

[@prashkd7684]

The bank does this to try and ensure government agencies don't block the transaction. Govt policies are so flaky and so closely monitored that the financial institutes prefer to cover all their bases to ensure transactions are successful.

[@VrkPeru-nw2uv]

Finally got some useful information from your video. Thanks.

[@AY33UK]

Hi there Clarification required from 19:31 onwards. Scenario - 1.Sale of immovable inherited property.. paid all due taxes / TDS etc and funds received in the bank. 2. Want to transfer the funds from my NRO account into my UK bank account. The bank can’t insist in Form 15CA & CB apart from the other documents as part of their due diligence process. However this is not the case with some banks in India

[@NanyangYindu]

All banks ask for this blanket requirement

[@bharatkhatri6860]

Thank you for this very knowledgeable episode. I would request you to kindly make one episode on NRI investments in GIFT CITY Gujarat.

[@krish955]

Soooo many forms and soo much approvals and process. It's such a pain. Problem is very very few CA's\bankers are aware of the process, so each person to comes up with their own.. Worried about disposing my Ancestry assets. Might reach out to you guys when the time comes.. Thanks for the info..

[@rajeshgulati1296]

Excellent presentation, very informative, keep it up, thank you

[@rugminir8169]

Very good information.thanku both for this episode.

[@srikrishnapadyaalu4445]

In one million dollar remittance can it be made in 2 financial years if the proceeds are more than 1 million dollars ie on 31 st March of one financial year and 1 million dollars on 1st April as it is considered next financial year

[@manjularao4206]

Very informative sir.Thank you.

[@JeevaKoodalingam]

How can I sell a agricultural property which I bought 10 years ago without knowing NRI can not buy or own agricultural property

[@AsitKumarGupta]

Does investment in GetStake or Smartcrowd by a resident indian will fall under LRS

[@rakadus]

Given the situation, "How to transfer money into India?" would be more appropriate.

[@nilotpalray3453]

Great video! Thanks

[@shirazfarooqui]

One of the most important subjects has no clarity online NRI and stock market 1) what happens if someone was exercising stock market portfolio AND LATER becomes an NRI 2) do they need to open a pis or non pis account even if they are only using the existing Indian funds and not bringing in any foreign money in to Indian market 3) are there any penalities for not doing so as most of stock brokers don’t follow this practice and have no detailed information on the same. 4) of one has already converted the SB account to NRO and are paying all takes on earnings from stock market … Do they still need a PIS or Non PİS account please note the money used in the stock market was from Indian sources and prior to becoming and NRI

[@AllwinJeba]

It doesn't matter. Once you become NRI, You need to open a NRI Demat account with the broker.

[@DeepakDhawan-y4s]

If an NRI has rental income how much is the TDS deducted at source A resident income from is deducted only 10% at source & why NRI is liable for more TDS at source

[@alansequeira6497]

Please give some examples of capital accounts and transactions. Does it cover capital and capital gains on sale of securities or property

[@sunildevidasani1225]

Thank u, mr bhat and mr rao for updates on this issue. Highly appreciate ur efforts. I just need a small clarity that nri having only nro account can transfer his own money earned as interest and fd interest to his overseas bank account? Is there any limitations to it?

[@stellakakade7391]

What about maturity of LIC money can this be remitted under the million dollar scheme.?

[@vimalav5486]

Crystal clear 👌

[@AY33UK]

Excellent upload

[@ravit3010]

So can’t send money without bureaucracy and banker shit …. Why .. when you send money just use an app but when you want it bend backwards and show documentation,, for your own money ..no wonder people leave

[@bharatk212]

Hello Sir, Thanks for useful Information. Could you please clarify, As a NRI I will invest in Indian stock market Stocks/MFs using my NRE or NRO accounts. When I sell those Investments and make some profits , what are rules and restrictions on repatriating such money.

[@sanjaypatil5183]

Bhat sir, Pl do video on this particular issue too. Thnx in advance

[@Super_Cool_Guy]

I will explain, you have 2 options a PIS and NON-PIS trading accounts with your indian stockbroker say for example ZERODHA. IF you use a NRE account attach to demat account you are limited to how many and types of stocks you can purchase, full list is on FEMA website. You can only attach a PIS account If you use NRO account then you can use NON-PIS trading account.BUT you will have to pay full taxes on these but good news is you can purchase any and as many stocks as you want 😊

[@sangeetapandya5819]

If you as OCI holder after remittance in US from Indian HDFC bank is there any liability once the money received here for income tax here

[@bharatk212]

Thank you Bro , for the prompt response.

[@bharatk212]

​@@Super_Cool_GuyThank you Bro , for the Prompt response.

[@jayakrishnanr5568]

What if I'm an NRI who plans to sell a property in India which is inherited from my parents, can that fund be freely remitted abroad ?

[@juson4267]

Biggest blunder to invest keep money in India. 😢 if one has funds then get out quickly.

[@Super_Cool_Guy]

Can you explain more ???

[@thatswhaticallmusic252]

​@@Super_Cool_Guy$1 = Rs 💯

[@rugminir8169]

Kindly make clear how a resident parent can transfer funds from sale of property to their OCI children? How to get permission from RBI .

[@Super_Cool_Guy]

Your bank should advise you how this is to be done

[@kallidaiviramani5885]

I am a NRI. Can I transfer from my NRO a/c in India to my bank a/c overseas where I am living under $1m scheme? Most of the money in that a/c ( under 3 lakhs) consists of dividends (after tax paid) in the past 25 years.

[@Super_Cool_Guy]

Yes you can but a lot of documents need to be filed. Best way is to open a NRE account with same bank the make NRO to NRE TRANSFER,(you will have to fill some simple forms your bank will advise) and then use NRE funds to repatriate

[@devarajurs3988]

IAM RES MY SON RESIDES IN USA AS CITIZEN NOW AS PARENY CAN I SEND MONEY FOR FAMILY MAINTENANCE? IF SO HOW? LIMIT IF ANY?

[@Shi-ara]

What about OCIs sir? All topics only talk about NRI whereas there are countless no of OCIs who also watch your channel. The one who will cater to their questions will get a lot of views!!

[@johnmichael8197]

It's the same procedure like NRI.

[@Super_Cool_Guy]

*OCI is exact same as NRI. OCI =NRI* 😊

[@Shi-ara]

@@Super_Cool_Guy that’s not exactly the case Sir! For ex. NRIs can own agricultural land and OCIs can’t.

[@Shi-ara]

@@johnmichael8197 not true Sir

[@Super_Cool_Guy]

​@@Shi-ara yes you are correct !

[@azmathullashaik1544]

20% repatriation tax has come into the news clearly about 2 years ago. Our esteemed guest said it is not required can you double check it please.

[@NRIMoneyClinic]

What he said is correct . It is a referral video . Well researched

[@AllwinJeba]

20% Reparation is for resident Indians only and not for NRI.

[@girdhargopal6433]

NRI is allowed to transfer the fund from NRO account to his NRE account. Then from NRE account he can freely transfer outside . This route where is threshold of 1Mn dollar apply ?

[@rdurairaj7522]

NRI cannot transfer the funds in NRO account to his/her NRE account. The other way around is permitted/possible. Hence, this scheme.

[@CosmasAlmeida]

Hi there! ... I am a Spanish national - no connection with India (never visited India). I now want to invest in Indian Stock market as I see India as a fast-growing economy. Can you please advise the below ---- 1). What is the type of account I need to have to invest in India Stock Market? 2). What are the documents I need to keep ready to open these accounts? 3). I do not want to open any account which is taxable as of now, since I do not plan to sell stocks i.e. at the moment, I only want to put money in the stock market - not remove

[@SM710]

You can invest in Indian stocks via India specific funds from BlackRock, Franklin Templeton etc

[@CosmasAlmeida]

@@SM710 So there is no bank/demat account that I can open to invest directly? I mean without mutual funds?

[@SM710]

@@CosmasAlmeida I do not have information regarding foreign nationals opening demat account in India. Anyway, high capital gains tax in India (12.5%-20%), currency depreciation (2-3% annually against euro), rupee to euro conversion rate (1-2%), high mutual fund fee compared to international India specific mutual funds (1.5% Vs 0.2-0.6%) makes it much easier and economical to invest in India via international mutual funds for foreign nationals.

[@SM710]

@@CosmasAlmeida I do not have information regarding opening demat account in India by foreign nationals. Mutual funds from Franklin Templeton and BlackRock have some advantages compared to investing directly in Indian equity. 1) Capital gains tax in India is (12.5-20%). 2) Indian rupees depreciate annually around 2.5% against the euro. 3) Indian mutual funds charge around 1.5% while global investment platforms charge 0.2-0.6%. 4) Currency conversion is more expensive when done individually (1-2%) compared to

[@TheTerminator317]

@@CosmasAlmeidayou can’t invest directly in India. You need to invest via MF or ETF route. Look for funds which focus on India or emerging economies including India

[@rajkamalgupta1633]

Please mention procedures for transfer of money for citizenship of other countries having OCI.

[@NRIMoneyClinic]

Same as that of NRI

[@davefufeturner8028]

Davis Margaret Lee Anthony Lopez Daniel

[@Zigzag-k]

What abt NRO account??

[@Xyz-oc1to]

If nri used saving account, can income tax also take action for violating fema law while filing itr? Or only rbi will look into it?

[@Super_Cool_Guy]

This is good question

[@brajesh2107]

Quite informative.. Great. thx

[@tanmoybanik3544]

Hello, I had a question. If I am an NRI and invest in mutual fund for long term and pay the SIPs from my NRE PIS account for approx 30 years, I believe if I selll the mutual funds I should be getting the whole amount directly in my NRE account and not NRO account as I invested always through my NRE PIS account, in that case I should be able to bring the whole amount to my foreign account without any problem or not thiinking about 1 usd million scheme??? Please correct me if I am wrong? If I invest using my NRE PIS account then the withdrawn money goes to NRE account right?

[@rdurairaj7522]

Your understanding is absolutely correct. The sale proceeds of all investments funded from NRE account, net of TDS where applicable, will be credited only to your NRE account from where you are free to remit the funds outside India any amount without any restriction. No scheme is required for such transfers. As Sriram says, NRE accounts are deemed as accounts outside India.

[@checkreality6209]

My uncle has a SB account with about Rs15L. He is now a US citizen and wants to convert into NRO acct. can he transfer after changing on next visit or is there a waiting time.

[@AllwinJeba]

Your uncle need to create a NRE account and transfer the money from SB/NRO account into NRE account and then transfer it to his US account.

[@トーマスアブラハム]

Why you didn't mention the NRI transfer money from his NRO account to his NRE account ?how ?

[@NRIMoneyClinic]

There is a detailed, popular video on our channel on this subject. Please watch and be guided

[@JoeC5050]

NRO to NRE ... there are no restrictions

[@sanjaypatil5183]

​@@NRIMoneyClinic sir link for this please NRO TO NRE IN DETAIL VIDEO LINK

[@rugminir8169]

When a resident parents transfer funds to OCI children will the OCI Holder get tax overseas.

[@shanmugasundaram6625]

Can money sent from NRE without any issues? Thanks 🙏🏻

[@rdurairaj7522]

No issues or restrictions or limitations. Funds from NRE account are freely transferable.

[@ravit3010]

How many times will You say his name !! It’s annoying uncle

[@KhatunTamaneya]

Martinez Donna Brown Melissa Rodriguez James

[@JonalynSchismenospk]

Miller Lisa Lee Ronald Miller Susan

[@angelinamacalister1740]

Harris William Taylor Joseph Hernandez Karen

[@ravit3010]

Ca Rao

[@nabeeskhan007]

If join BJP means no problem. anything else can do.

[@sankar42ify]

Are you doing this with good intentions or just to defame Indians growth. J

[@NRIMoneyClinic]

We don't do negative videos to please any one

[@johnmichael8197]

The intention is very clear. These kind of videos are informative and help to educate ourselves at no costs. May God bless the work of CA Bhat ( NRI money Clinic).

[@sanjaypatil5183]

Mr Bhat & Shriram ji, simply ignore such comment and continue ur good work. Many blesses from NRI's and their resident families.

[@chandramouliramachandran4217]

It is not clear regarding 15CA and 15CB. For transferring funds from NRO to NRE or for outside India of NRI, bankers are insisting for the above forms, if the transaction is regarding sale of house property. Should we give or not??:Clear answer please

[@thatswhaticallmusic252]

He don't know

[@AntonioGomes-wc3ul]

Awesome Advice 🎉for someone with no idea of Banking RBA guidelines and FEMA regulations needs to listen think carefully and then make a decision with Tax consultant or CA ❤

[@AY33UK]

Hi there Clarification required from 19:31 onwards. Scenario - 1.Sale of immovable inherited property.. paid all due taxes / TDS etc and funds received in the bank. 2. Want to transfer the funds from my NRO account into my UK bank account. The bank can’t insist in Form 15CA & CB apart from the other documents as part of their due diligence process. However this is not the case with some banks in India

[@Super_Cool_Guy]

Open a NRE account with your indian bank then transfer funds from your existing NRO to your new NRE account , then repatriate 😊👍