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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[@SH-em2eu]

NRI holding existing PPF account can continue maintaining account but can't contribute yearly 1.5 lakh each year till maturity period ?

[@surendrabhandari2248]

Wether NRI son can give gift to father Indian resident on visitingIndia on father’s birthday 18:28

[@rcdahiya2256]

Well explained and nice presentation, 🇮🇳Jai ho

[@jhapizza]

NPS is allowed. Please recheck. I opened and have an active NPS account as NRI

[@cbvmathcbvmath]

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]

Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..

[@tester2267]

Tier Two of NPS is permitted to NRIs

[@akotireddy]

What is definition of NRI

[@pragvanshawachar1595]

NPS shayad allowed hai...

[@vibhinpeter3482]

Kindly advise if PIS account is required for NRO account for stock trading

[@spay4371]

now not required.. earlier it was required

[@drl.ramjirao4452]

Can an NRI transfer money from his foreign bank account or NRE account to his Indian relative’s savings account

[@amitbhatnagar6380]

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)

[@shrinugst5123]

one person is NRI who buy Agri land in 1985.what they do

[@gururaj3669]

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?

[@rajibseth]

Can NRI hold indian credit card which can be used domestic or internationally ?

[@raaz99lion]

Very useful informative video. Thanks Yadnya...😊😊

[@KunjanDoshi92]

Just one feedback. This video can be shortened. There are too many repetition in video which makes video very slow.

[@spay4371]

Thank you for your valuable input.. will take care in next video..

[@keeplearning641]

@@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!

[@sravan1004]

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]

From RBI. Not all transactions required approval. some are freely allowed

[@maheshnair208]

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]

Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..

[@realitycheckbybharat]

Thank you sir for this video but I also want know about REIT how can any invest in this??

[@manideepmahankali5137]

Thanks for the Knowledge sir

[@shareefms0009]

Nps is allowed for nri .While opening itself it is stating as nri or normal. I opened with nri status and contributing regularly.

[@spay4371]

Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..

[@dk45]

Good information but extremely poor presentation. Terrible 😐 Sentences/topics are being repeated multiple times. 🤦🏽‍♂️

[@spay4371]

Thank You for your valuable inputs. Will take care in further videos..

[@keeplearning641]

​@@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.

[@shobhitgarg5707]

Nyc

[@rajurh9258]

How about education education fees for nri kids will it be high?

[@spay4371]

No..

[@vijayparigi8537]

Could you please check and confirm regarding investing in NPS...I think it is allowed as NRI? Thanking you in advance

[@spay4371]

Self contribution of 50K not allowed. if paid by employer, then only allowed..

[@spay4371]

Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..

[@sagarlolge6154]

Thanks for the information..Can you share more details on transferring fund from NRO to NRE

[@spay4371]

Surely..

[@RamKumar_e]

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]

Yadnya has video on NRE and NRO account..

[@RamKumar_e]

@@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

[@sivay1818]

Hello sir, investing in equities from parents account I don't see any issue, do u see?

[@spay4371]

As it is through their account. Its their investment.. No issue..

[@bornwarrior85]

Thanks sir, Can NRI invest in LIC policy?

[@spay4371]

Yes

[@sandeepkrao]

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]

No, You can not contribute..

[@cbvmathcbvmath]

@@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]

Yes NPS contribution is allowed. By mistake its told as not allowed.. sorry for that..

[@sandeepkrao]

@@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

[@dkgupta564]

R u sure that NRI cannot invest in NPS ?

[@spay4371]

NPS contribution by Employer is only allowed, self contribution of 50K nor allowed

[@spay4371]

*not

[@dkgupta564]

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 ?