Prabhat, who recently converted status from resident to NRI, asked me if it is ok to continue Mutual Funds investments & SIPs from domestic accounts. The NRI Investing Using Domestic Bank Accounts like savings or current is not allowed. So what to do if NRI invests using domestic bank accounts? Why this is so? ManyRead More
NRIs
Navigating Will for NRI : Step-by-Step Guide
For Non-Resident Indians (NRIs), planning for the future involves more than just financial management—it also entails ensuring that their assets are distributed according to their wishes. Will is such a legal arrangement. Will for NRIs can solve this issue. Using Will, NRI can be sure of distributing & transferring his assets after his death. DraftingRead More
Complexities in Financial Planning for NRIs
As Non-Resident Indians (NRIs) deal with the global financial terrain, they encounter unique challenges that require correct solutions and strategic foresight. Most appreciate a formal approach but still keep their distance from Financial Planning for NRIs. Complexities in financial planning for NRIs arise at every step of change that they undergo. Most issues in financialRead More
NRIs Investment in US Dollars or Indian Rupee
NRIs Investment in US Dollars or Indian Rupee is a complex and important decision. There are several factors to consider, and making the right choice requires careful evaluation. Let’s explore these considerations together. But why would NRI investors invest? NRIs invest due to a host of factors. This can be – Diversification, Better Returns, VarietyRead More
NRIs Health Insurance in India – Tax Saving & Other Aspects
Managing finances effectively is essential for everyone, but it’s particularly crucial for Non-Resident Indians (NRIs) who want to optimize tax savings while ensuring financial security. One smart avenue to achieve this is investing in NRIs Health Insurance. We have already written on the process & the question that NRI should buy health insurance in IndiaRead More
How Parents Can Reduce TCS on Foreign Remittance on Education
We all know, that starting October 1, 2023, the new TCS (Tax Collected at Source) has increased for remitting money abroad from India under the Liberalized Remittance Scheme (LRS). These will increase the burden of TCS on Foreign Remittance on Education. Is there a way out to minimize this tax burden by proper planning orRead More