HOW TO TRANSFER FUNDS FROM NRO TO NRE ? CA SRIRAM RAO

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  • Опубликовано: 27 дек 2024

Комментарии • 1 тыс.

  • @vasanthkrishna7809
    @vasanthkrishna7809 3 года назад +15

    Clear and simple to follow explanations on NRO to NRE money transfers and vice-versa. Look forward to more informative discussions on this channel. Thanks to Mr.Bhat and Mr.Sriram.

    • @channdravathiramachandra9006
      @channdravathiramachandra9006 7 месяцев назад

      If someone receives money as gift while dividing assets from parents to a person abroad,how that can be transferred from NRO to NRE.

    • @jaydeeppatel5815
      @jaydeeppatel5815 4 месяца назад

      @@channdravathiramachandra9006F

  • @KR-ff4tu
    @KR-ff4tu Год назад +23

    I have been researching NRI finances because I was considering investing in the Indian stock market. The more I research, the more I am reminded of why I left India in the first place.
    The laws are designed in a way that majorly inconvenience the law abiding person. 3 different forms, bank officials willy-nilly refusing services, and we all know what happens when we have to interact with any government official. Add to that everything is a lot more complicated when you are not physically present in the country.

    • @srinivasanpr1112
      @srinivasanpr1112 4 месяца назад

      i would suggest that these remittances are staggered for every assessment year. Post filing the return you could remit taxable income minus tax paid plus non taxable income. However, in case of sale of a house of equity, there are provision for apply during the course of the year which could be time consuming. as per current tax laws, in case of real estate the seller has to deduct 30% and remit in your name the taxes, so even if there is no profit, u will get the funds of 30% of gross value after ur assessment.

    • @rizwanwasi7019
      @rizwanwasi7019 21 день назад +1

      💯 %Correct conclusion

    • @1354pj
      @1354pj 16 дней назад

      Simply not worth the stress and the red tape.besides rupee value falling faster than any returns one gets from Indian investments.

    • @mcmcaster
      @mcmcaster 7 дней назад

      How about tds on remittance at 20 percent is that applicable?

  • @saibabapokala
    @saibabapokala 3 года назад +6

    Thank you very much for detail info about transferring funds from NRO to NRE. This is very useful many NRIs like. Thank you Sriram Ji.

  • @mkarvj
    @mkarvj 11 месяцев назад +1

    One of the best video with clear details and explanations about NRO and NRE account. Many thanks to Bhat sir and Sriram sir❤❤❤

  • @krishnankaruthethil228
    @krishnankaruthethil228 3 года назад +16

    This is the information I was waiting for long .very well explained.kindly do a session explaining how you can transfer or gift your properties to your NRI children.Thank you very much

    • @SubhashChandra-de3yd
      @SubhashChandra-de3yd 8 месяцев назад

      Yes, please do a session on this. Thanks, regards, Subhash

  • @aksatheeshkumar
    @aksatheeshkumar 3 года назад +3

    Excellent. The best part is that you recap the discussion at intervals for the benefit of viewers

    • @ShlokMalkauns
      @ShlokMalkauns 3 года назад

      Fully agree, its just like a revision during our student days, something which is mostly missing in general

  • @sivaselvigunasekaran9499
    @sivaselvigunasekaran9499 2 года назад +6

    Dr. ChandraKanth Bhat, You are a born teacher and financial adviser.You are very detail oriented with clear explanations that help a novice like me. Your summation at the end of each section is simply great!
    Mr. Sriram Roa was also very precise. I had same issue that was covered in this video and was confused and clueless. Now I am confident to go ahead and proceed. Thank you very very much.

  • @valerianpereira1259
    @valerianpereira1259 9 месяцев назад

    Thank you Dr. Chandrakant Bhat,
    Please : keep posting in simple words; and through Consultants;
    since in times to come many millions of Indians will travel across the Globe in all 200 Nations;
    So, this up to date messages will be Useful.
    Even All Forms needed;
    procedures;
    Contact persons;
    Auditors will be useful;
    Thank you

  • @mohammedhossain8453
    @mohammedhossain8453 3 года назад +4

    Thanks both of u but specially I love the way Sri Ram explain..

  • @sankarareddy1122
    @sankarareddy1122 11 месяцев назад

    Thanks Mr.Bhatt and Mr.Rao for clear clarification of transferring
    money from NRO to NRE a/c.

  • @anshumanchauhan8101
    @anshumanchauhan8101 3 года назад +13

    Thank you so much for this very informative video Sir 🙏 You have simplified the understanding of an important aspect which is otherwise usually made out to be quite a complex one. 👍👍👍🙏😊

  • @kr7584
    @kr7584 Год назад

    Your skill to summarize the answer after each question is excellent.

  • @chillymango5590
    @chillymango5590 3 года назад +3

    Simply brilliant!!! What a great channel and I didn't know about it for so long? Very clear step-by-step explanation of the topic and more importantly the various scenarios of the applicability of the law or provision is fantastic.

  • @skuonnet
    @skuonnet 2 года назад

    Wow!Very clear ,simple and fantastic explanation.Very useful for all NRI.Please continue your great work.Thank you very much.

  • @intellogo
    @intellogo 3 года назад +8

    Awesome video!!
    Really, very clear and very necessary to know!
    Thank you so much to make this valuable video session! 👌🏼👍🏼

  • @mazharkhan2001
    @mazharkhan2001 7 месяцев назад

    Thanks!

  • @gopalkrishnaprabhu375
    @gopalkrishnaprabhu375 3 года назад +10

    Besides compliance of FEMA ( Form A2 ) and IT regulations / guidelines what is to be understood by NRI customers or bankers or anyone
    concerned is :
    1. The need for opening NRO accounts is that the account holder has receivables emanating from India I.e. within India either his own savings in the form of bank deposits , LIC maturity proceeds, Post office savings or shares which he / she acquired before becoming NRI or amount due to NRI by a resident like payment of rent, dividend etc. These are defined under FEMA as " legitimate credits" Other than legitimate credits, banks are not supposed to accept credit into NRO accounts unless valid documents supporting such credits are produced
    Instances of accepting huge amount of cash into NRO account is not to be considered as legitimate credit ,whether deposited by NRI or his relatives or third party . Instances are not common branches out of ignorance accepted credits in cash which when requested for credit to NRE shall not be considered.
    Regulators have come across such transactions especially when sale proceeds of immovable property sold , where a part is accepted in cash.
    2. It is also to be appreciated that the facility to credit eligible NRO funds into NRE was based on bankers representati. This began with RNI relaxing guidelines as to repatriation of interest earned on NRO account after deduction of TDS by banks. .
    NRI Customers upon receiving NRO Interest into their overseas a count used to remit back to their NRE account. To avoid bank charges, it was logical to allow credit of such amount to NRE. RBI, on representation considered this representation.

  • @samirshah6273
    @samirshah6273 5 месяцев назад

    Excellent - I am a CA in UK and this was very helpful to understand NRO and NRE funds

    • @hkdesaii
      @hkdesaii 3 месяца назад

      How a NRI staying in UK is taxed on his income from interest earned from Indian NRE account

  • @monicadass9841
    @monicadass9841 3 года назад +3

    Very well explained, thank you 🙏🏼
    You had enlightened all.

  • @tbcc123
    @tbcc123 9 месяцев назад

    Absolutely awesome. Every bit of this session has so much useful information. Explanation is so crystal c!ear. Thanks a million🙏🙏

  • @ramadurais3295
    @ramadurais3295 3 года назад +8

    Excellent presentation! Well done.

    • @NRIMoneyClinic
      @NRIMoneyClinic  3 года назад +1

      Thank you . Please subscribe and keep sharing the videos

  • @dennykurian
    @dennykurian 3 года назад +1

    Excellent talk and really good value addition to NRI Community. Thank you very much for both of you. Please continue your excellent work.

  • @petersalazar1790
    @petersalazar1790 3 года назад +3

    Just happened across this video. Very well conducted discussion. Loved the reinforcement by summarising each relevant point.Thank you so much

  • @tsrlilllyraninapohleon3777
    @tsrlilllyraninapohleon3777 Год назад

    Thanks for clarifying everything we were looking for..clear and vivid presentation by great professionals..

  • @raghuprasadsatyanarayana8992
    @raghuprasadsatyanarayana8992 3 года назад +6

    Dear Dr. Chandrakanth Bhat, Your videos are excellent in terms of clarity, contents, coverage, presentation and summarizing the subject matter. I have a question. What would be the effect on de-mat accounts (which would be fetching dividends) when the holder becomes an NRI? To which account type can/should it be changed, to continue to receive dividends and also to be able to trade? Thanks a lot.

    • @VenkatesanBalakrishnanBala
      @VenkatesanBalakrishnanBala 2 года назад

      Dear chandrakath bhat
      Thank you all the videos in your channel. This article is of great interest to me. I have a situation of hdfc insurance maturity amount is deposited directly by Hdfc insurance to my nro account. I don’t have NRE account.
      Like you said in this video the bank manager tells me it is non-repatriated. How can I approach you for consulting

  • @pampunwani1243
    @pampunwani1243 15 дней назад

    Very informative! Thank you for explaining clearly in simple terms.

  • @mrdevireddy1
    @mrdevireddy1 3 года назад +6

    Excellent presentation. Useful information, brief to the point.

  • @nandu1595
    @nandu1595 5 месяцев назад

    I just followed this, absolutely correct information and very well delivered

  • @linpaws002
    @linpaws002 Год назад +4

    I was baffled when the banks decided not to disclose this crucial information when I opened this account. Whatever the case, this has been a significant pain to people who would want to quickly and easily transfer money from India to abroad. I understand the rhetoric that RBI wants foreign inward flow, but why is so complex a hassle created to get it back. Isn't it crazy to fill so many forms rather than creating a simple unified process?

    • @onkarshinde4424
      @onkarshinde4424 Год назад

      Because there are 2 different laws so different forms

  • @keeplearning5590
    @keeplearning5590 10 месяцев назад

    Excellent video and explained in the most easy to follow words! Kudos to you Sir!

  • @lalitchhaya5410
    @lalitchhaya5410 3 года назад +3

    How does the status of normal saving account is considered, i.e. is it automatic for more than 182 days staying abroad or any other methods

  • @savithrigopalan6350
    @savithrigopalan6350 3 года назад

    Well explained. Sri Ram and Mr Rao have enlightened the viewers reg the NRI tax repartition and other
    Thanks

  • @chandrakanthrao3682
    @chandrakanthrao3682 3 года назад +11

    Excellent professional approach in the presentation by both Mr Bhat and Mr Rao. Suggest you do a Part II with Forex Banker alongside to discuss on disclosing the correct reason code in A2, the details of LRS, and also the CA to address exemption limit for 15CB, inherited property sale repatriation, tax impact of gifted funds etc

    • @NRIMoneyClinic
      @NRIMoneyClinic  3 года назад +1

      Thank you very much for suggesting/ highlighting these points . Will definitely work on this . Look forward to have you as a faculty on my channel. Thank you very much for these kind words

    • @benoyhaldar8931
      @benoyhaldar8931 3 года назад

      Sir, how4 mu9ch money from NRO account can be transfe5red to bros other bank account in foreign country without FORM a bc to be pobtained FORM the CA. THE funds to be repariared is tax paid . How to voní se the bank for this

    • @jithulivedubai
      @jithulivedubai Год назад

      Can I fund transfer NRI to others nri

    • @SIVARAMAPRASADKAPPAGANTU
      @SIVARAMAPRASADKAPPAGANTU Год назад

      @@jithulivedubai For what purpose? If one NRI is purchasing fixed asset in India from another NRI, the NRI selling the property should invariably credit the proceeds to his NRO account, although the buyer is paying from his NRE Account.

  • @sampathr2
    @sampathr2 3 года назад +2

    Really very knowledgeable session. You have made it so simple to understand. My sincere thanks to You and Mr Sriram for sharing this useful information.

  • @kruparao5502
    @kruparao5502 3 года назад +7

    Very valuable information ,also make a video on how much gold,currency can bring to India as per customs and its charges.thanks

    • @NRIMoneyClinic
      @NRIMoneyClinic  3 года назад

      Thats a pretty good suggestion. Suggestion accepted. We will do a video on this subject very soon . Please subscribe and keep sharing the videos

  • @MrPoosarlasrinivas
    @MrPoosarlasrinivas 3 года назад +2

    Sir, this is an excellent video..very informative. I have to thank you for doing this and RUclips algorithm for showing it to me.

  • @surudog4929
    @surudog4929 3 года назад +8

    These NRE and NRO accounts are worthless. I have tried both and only to realize the hassle of this is absolutely NOT worth this. This is a failed model by Indian government and has failed NRIs miserably. If I had my way, I would ban these accounts.

    • @josephalex.1911
      @josephalex.1911 3 года назад

      why>

    • @bdpanchall1
      @bdpanchall1 3 года назад

      EVEN TO DAY THE FILING OF IT RETURN IS VERY DIFICULT AND NEEDS HELP FROM IT EXPERT/CA.

    • @hesh2892
      @hesh2892 5 месяцев назад

      Why?? They are great. Very useful for NRis and OCI s. Did you knows that NRE FD is tax free. Which county are you in ..interest rate is much less in phoren 😮

  • @ramachandrarao1646
    @ramachandrarao1646 Год назад

    Detailed and clear communication to viewers regarding repatriation of money from India to abroad. Excellent and very useful discussion. Thanks a lot,
    Dr. Ramachandra Miryala Rao, Ph.D. MPH Los Angeles, CA

  • @jasmingambhir4593
    @jasmingambhir4593 3 года назад +3

    This is great presentation to understand. I have a question. We need Form 15CB from CA to certify that 'taxes are paid'. What is required from us or CA if the tax is not yet paid but will be filled and realised at the end of financial year?

    • @sriramrao2514
      @sriramrao2514 3 года назад +2

      If the tax is not yet paid, then tax can be paid first as advance tax and then 15CB will be issued by CA, the funds can be remitted after this.

  • @rajeshsriharirao4265
    @rajeshsriharirao4265 Год назад

    Thank you both for the information. Awesome this is so helpful for NRI. Thank you so much 🙏

  • @rakeshagrawal4617
    @rakeshagrawal4617 2 года назад +1

    Thank you very much for your detailed explanation to transfer money from NRO to NRE. At least for USA residents there is no benefit from tax angle. All the interest income even from NRE is taxable in-home Country USA. If there was any tax paid in India, credit will be given for same. Only benefit to transfer the money from NRO to NRE account is that transfer to USA can be made in much shorter time without any hassle of paperwork. Thank you.

    • @JP-yj7rx
      @JP-yj7rx 9 месяцев назад +1

      I think tax aspect is important, but less. A good reason to transfer from NRO to NRE is loss in currency exchange. In last 30+ years, INR has only lost value wrt USD.

  • @ssoundar4808
    @ssoundar4808 3 года назад +1

    Thank you for explaining the requirements for the repatriation of money from India to abroad!!

  • @soubirjya
    @soubirjya 11 дней назад

    Very detailed explanation. Thank You 🙏. Looking forward for more informative contents.

  • @b.s.jyothiramesh4245
    @b.s.jyothiramesh4245 Год назад

    Thanks to Dr.Chadrakanth and CA Sriram Rao.

  • @mirzuberi8547
    @mirzuberi8547 2 месяца назад

    Thanks a lot
    Clear and simple way and coolly slow explaination for easy understanding

  • @OnlineMD
    @OnlineMD 2 года назад

    Thank you for this video. Having had financial dealings in India ever since my father passed away some years ago, I have found out that an NRE account is NOT WORTH starting unless you want money in dollars into and out of India. For money in dollars with a one way ticket to India, :) there is no need for an NRE!! 😄

  • @ashwinipendharkar8417
    @ashwinipendharkar8417 Год назад

    Thanx a lot.. Very useful information in this vdo..For person like me with new nro and nre accounts 👍🙏

  • @dixitbabuinaustria
    @dixitbabuinaustria 2 года назад

    This video ia so much knowledgeable, Thank you very much for clarifying this so simply. I have been worried about this very problem for a long time.

  • @dhulipalamalleshwaraswamy3526
    @dhulipalamalleshwaraswamy3526 4 месяца назад

    Thank you very much for the information provided for transfer of funds from nro account to nre account account

  • @sgketan
    @sgketan 3 года назад

    Great video. Explanation was very good which any normal person can understand. Thumbs up.

  • @tejasgira1
    @tejasgira1 8 месяцев назад

    Many thanks for the information which has been shared in such a simple way. Great 👍

  • @mohantychitrasena6591
    @mohantychitrasena6591 2 года назад +1

    Thank you Dr. Bhat and Mr. Sriram. The video is very informative and the repatriation process is very well explained.

  • @kripashanthi
    @kripashanthi 3 года назад +2

    Excellent presentation! Every aspect covered. Please cover transfer of INR to Foreign Currency by way of a video.

  • @msmuralimd
    @msmuralimd 3 года назад +1

    Great job by Mr. Gupta and Sriram. Good explanations and appreciate the link for those forms discussed.

  • @SV-go5ue
    @SV-go5ue 3 года назад

    Pretty Crisp! and the way Dr.Chandrakant bhat has summarized after every question is really very good...

    • @NRIMoneyClinic
      @NRIMoneyClinic  3 года назад

      Thank you very much for your kind words. Please subscribe and keep sharing the videos

  • @vinaynigam4909
    @vinaynigam4909 5 месяцев назад

    Thanks for the good illustration of nre and nro account.

  • @manojnaphade3933
    @manojnaphade3933 3 года назад

    Excellent ! Perfectly anchored discussion on topic by Mr Bhat useful guidance by CA Sriram.

  • @satrajitchoudhury42
    @satrajitchoudhury42 Год назад

    Under dire pressing circumstances we have been able to transfer from TDS INCOME TAX PAID NRO Account to foreign account under LRS Scheme. Nonetheless your channel is informative and useful.
    Thank you

  • @tincyannehot
    @tincyannehot 3 года назад

    Very briefly explained. Thank you Dr Chandrakanth for your useful contents for NRI

  • @sureshpeshawaria347
    @sureshpeshawaria347 3 года назад

    Thanks, both of you, for this important info... being an NRI, it might come handy in the near future...

  • @nbhaduri
    @nbhaduri Год назад

    Thank you for the clarity you bring to these issues. Very well presented video and very informative. Thank you.

  • @josekm1406
    @josekm1406 10 месяцев назад +2

    Is there no limit of USD 2,50,000 for transfer under the LRS Which is less than the limit of USD one million mentioned for transfer from NRO to NRE?

  • @sajanvarghesethadathil5826
    @sajanvarghesethadathil5826 3 года назад +1

    Very great subject thank you all👍💢💯❤

  • @pbhaskar24
    @pbhaskar24 3 года назад +1

    Thx for addressing this topic in a very detailed manner, appreciate this video. I would love to hear you chat about World Wide Taxation for NRI retiree who would like spend 6 months in India every year.

  • @velbond007
    @velbond007 4 месяца назад

    Thank you sir, very very clear information, particularly the way you repeat and explaining again to the audience is fabulous.
    I got one doubt that I transferred 200,000 Dollars in 2014 into NRE through western union from overseas. Because of various easiest processing reasons I opened the demate account in NRO and invested in that buying shares and mutual funds. Now, in 2024, the money doubled and since I am living in overseas with OCI, now in 2024 want to make it from NRO to NRE. I can prove that the money was transferred in 2014- 2023 the last 10 years, however the govt will still understand that yes, yes he transferred from 2014 to 2023? or is there any duration restriction?
    Your channel is so brilliant, the way explaining.

  • @anantharamankarthikeyan5117
    @anantharamankarthikeyan5117 3 года назад +2

    Extraordinary level of explanation. Narration is very clear and precise. If still some one have any doubts, then they have to check their listening skills.
    Kudos to the team.

  • @hariharannatesa1469
    @hariharannatesa1469 13 дней назад

    Your video was released three years ago. However, any modifications have been implemented in the transfer of funds from NRO to NRE accounts as of today. I appreciate your input. Thanks.

  • @balkkisrazak1783
    @balkkisrazak1783 5 месяцев назад

    Thank you very much. Very very appreciation for you. Because since long time I was waiting for this subject. 🙏

  • @kunalzshah
    @kunalzshah Месяц назад

    More clarity is required on the part which mentions that the assessee had to show that the money which is being transferred from NRO to NRE, was the same money that was earned abroad earlier, and was transferred from NRE to NRO earlier.

  • @rameshwadhwani7195
    @rameshwadhwani7195 3 года назад

    THANKS BOTH OF U.
    MR.RAM U R EXPLATION WAS SO CLEAR AND PRACTICAL.

  • @Ghan2927
    @Ghan2927 3 года назад

    Very vital Information n excellent presentation. Thanks Mr.Bhat n Mr.Sriram

    • @NRIMoneyClinic
      @NRIMoneyClinic  3 года назад +1

      You are most welcome. Please subscribe and keep sharing the videos

  • @SrikanthPRABHA7
    @SrikanthPRABHA7 3 года назад

    This channel is a must watch for all Indians living abroad

  • @srinathbabukarnati1017
    @srinathbabukarnati1017 4 месяца назад +1

    Hello Dr. Chandrakant Bhatt Ji, 🙏🙏🙏 Your videos are clear and crisp. You are so professional, and videos are very useful. I just subscribed yesterday and will go thru the rest of the videos. Mr. Sriram also very nice and knowledgeable guy in clarifying every financial matter. Thanks to Sriram Ji too. 🙏 I have below 3 questions below from today's session. 1. The final EPF claim amount is Tax paid correct? or Tax exempted? 2. 1. Can we transfer the EPF amount final claim to NRE and invest in FD Please clarify 3. The interest earned on FD under NRE account - is taxable? if so, where to file the tax return on this income? Thank you so much for your service.

  • @saggysri6646
    @saggysri6646 2 года назад +1

    Thank you Both of you. Great channel for us NRIs

  • @NarasingaRaoPalisetti
    @NarasingaRaoPalisetti Год назад

    Made it crystal clear and the discussion is user free

  • @grrao8857
    @grrao8857 3 месяца назад

    Out of four conditions for transferring money from NRO to NRE a/c, the last one "Income from India" needs clarification.
    Can funds from sale proceeds of ancestor property be transferred from NRO to NRE a/c?. Pl clarify.

  • @shanthanalur4714
    @shanthanalur4714 Год назад

    Very well explained, thanks. Can you please give this class to bankers too please. My daughter transferred money from her NRE account in India to my NRO account by mistake, she was supposed to transfer to NRE account and it was less than 1 lakh. I had to do several documentation, back and forth calls and get a CA involved to move into my NRE account in the same bank.

  • @sundararaman4129
    @sundararaman4129 Год назад

    Banker's are directed to send fortnightly returns called R Returns currency wise incorporating all details of foreign exchange transactions attaching forms A1 (for imports) and A2 for other transactions for monitoring. And only Authorised branches by RBI to deal in Forex can handle such transactions. NrE/NRO accounts can be maintained even in non-authorised branches but outward remittances have to be routed through AD branches only.

  • @vijucat
    @vijucat 11 месяцев назад +1

    The information is incomplete and wrong. 12:55 Form 15CA and 15CB are not mandatory. See Rule 37bb. This has been available since 2016 but we are so used to following the set rules mechanically that we do not learn our rights and challenge the authorities.

  • @csuryavanshi5976
    @csuryavanshi5976 Год назад +1

    Kindly let us know whether money received in NRO a/c from the sale of inherited property can be transferred abroad freely ( with due forms etc.). Thanks.

    • @stansmw
      @stansmw Год назад

      as long as it has been subjected to tax, then it shouldn't be an issue. Get a Chartered accountant involved.

  • @bobbydhurwa
    @bobbydhurwa 10 месяцев назад +1

    Sir
    I would be disposing some property in near future and would be getting some money apart from the land ceiling above money can we deposit it in nro and then could be transfer it to nre legally , could you please clarify on it
    Thanks

  • @sarlah1
    @sarlah1 3 года назад

    Sir one of the best explanation Iam not good in finance but the way u explained,various steps thank u so much any dump person will understand watching ur video
    You are very good teacher

  • @lubabanadeem1998
    @lubabanadeem1998 3 года назад

    Thank You both of you. Many times we transfer from NRE to NRO account. The best way is to make fixed deposit in NRE account and take OD against that FD. U may transfer fund in that OD account in INR.

  • @nikhilgujar
    @nikhilgujar 3 года назад

    Both of you, explain the complexity so beautifully.

    • @NRIMoneyClinic
      @NRIMoneyClinic  3 года назад

      Thank you you so much for your kind words

  • @sirjohndmello1953
    @sirjohndmello1953 3 года назад +2

    So there is a hurdle even after satisfying FEMA and Income Tax rule bank can refuse to transfer from NRO to NRE. If we have to approach a CA or a financial professional, we have to pay their charges which means loss of money. Then writing to Bank higherups, RBI is time consuming and costly. It is not that easy if Bank does not make the transfer.

  • @reddyabhik
    @reddyabhik 11 месяцев назад +1

    Dear Sir,Thank you for the informative video on NRE and NRO accounts. I am an NRI and I have both types of accounts. I have a query regarding my LIC fund, which will mature in a year. You mentioned that it can be deposited to the NRO account. However, if I want to use the money outside India, will I have to pay tax on it? Please advise.

  • @jas61
    @jas61 4 месяца назад

    Thank you Dr. Bhatt for an absolutely clear and detailed analysis of the fund transfer from an NRO to NRE/ Foreign Bank account for NRIs. Would appreciate if you can clarify on one point - should the NRI be physically present in India to effect the transfer or can his POA/ legal representative handle the documentation on his behalf?

  • @allaremyfriends67
    @allaremyfriends67 3 года назад +1

    Excellent Interview. Useful information. Even most bankers and NRIs are not even aware of it. Reverse Swapping NRO to NRE is not available in any online banking channels. Bank Branch visit practically impossible fir NRIs residing overseas where there is no Branches.
    That’s apart, why should NRIs file ITR for swapping NRO to NRE. Income Taxes and VAT Cess are deducted at source and hence they are tax paid fulfills the FEMA and IT. The expert did not mention about ITR whereas the interviewer while consolidating and interpretation said about ITR - at tail end of the interview. Please clarify. Thanks

  • @abhinav_mehta98
    @abhinav_mehta98 2 года назад +1

    First of all I really wanna thank both of you to provide such a valuable knowledge which i was struggling to understand.
    My question is :
    Do I need to pay tax on the money which i transfer from my NRE to NRO account ?
    If yes, Then how can avoid paying double tax. As i have alrdy paid the tax on the money stored in NRE account.
    Thanks in advance

    • @NRIMoneyClinic
      @NRIMoneyClinic  2 года назад

      You dont need to pay taxes for such transfers

  • @leg875
    @leg875 2 года назад +1

    8:51 excellent communication by Host. Clarifying step by step.

  • @varghesekuruvilla6397
    @varghesekuruvilla6397 3 года назад +1

    This was very informative to the public.But I have to supplement that the Bank interest received in NRO account can be freely transferred to NRE account.
    Similarly the instructions about Form CA AND CB are taken for repatriation of funds with in the I mio
    limit per year.However transfer of funds from NRO to NRE doesn't happen by default and specific instructions are not found in this regard
    However assuming that the funds are repatriable, some bankers effect NRO NRE transfer excersing their discreation.
    Please check the above aspects for the sake of viewers.

    • @NRIMoneyClinic
      @NRIMoneyClinic  3 года назад +1

      Please note : bankers cannot exercise any discretion, but are bound to follow rules. There is a video on this channel by name HOW TO TRANSFER FUNDS FROM NRO TO NRE . Please be guided by this video

  • @rchaudhari4281
    @rchaudhari4281 15 дней назад

    How do we transfer money from NRE to foreign bank account. Your videos are very useful indeed.

  • @VirendraPatel-l8f
    @VirendraPatel-l8f Месяц назад

    India & us has tax treaty for income generating out side usa must be shown in USA tax return so if some one generate income from stocks selling or other sources than he has to has to pay tax in USA than what will be position for income generator in India for India tax ?

  • @rajualluri-lj5cr
    @rajualluri-lj5cr Месяц назад

    Sir, thank you for giving such a lucid explanation. My daughter worked in India for about five years and invested in ELSS mutual funds and bank deposits. She resigned 10years ago when she got married and left for Australia and is now an Australian citizen with an OCI card. Her earnings from employment, the funds from liquidation of ELSS Mfs and monetary gifts from me and marriage gifts which were in two or three different bank accounts are being consolidated in to one NRO account at a different bank which she opened seven months ago on her visit to India. Now from what you have said in your wonderful video, she can transfer these funds (the total is less than Rs.50lakhs) by following the process explained in the video. Am I right?

  • @munisekharmane7141
    @munisekharmane7141 2 года назад

    Wonderful discussion. It gave me lots of new information which I wasn't aware. It was very helpful. However, I have a couple of doubts that needs to be clarified. Due to want of time presently, I will get back to you shortly.
    Thank you once again.

  • @riteshbaheti7031
    @riteshbaheti7031 Год назад

    Great Discussion and explain in very simple way

  • @SambasivanS
    @SambasivanS 3 года назад +1

    NORMALLY funds remitted into NRO are amounts which are not eligible to be credited to NRE. It is not clearly understood why remittance from abroad is to be remitted into NRO instead of NRE. Have you come across such instances? I have not heard during my service as Manager of Bank

  • @666666852
    @666666852 2 года назад

    Very good information in a very simple and precise way. One question, in todays digital world, why are these forms needed? Can these not be automatically determined by the system?

  • @venkataella686
    @venkataella686 2 месяца назад

    Great video! However, I have a suggestion - the flow is fast for an end user to grasp and digest.
    Second, technical jargon (eg: Repatriation, FEMA - high usage) not easy to comprehend for an end-user or a person who less Financial background.
    Third, better to explain from the real-time end-user transaction rather going directly and continuing only from CA or Tax or Bank perspective.

  • @baldevsinghgoindi41
    @baldevsinghgoindi41 Год назад

    Excellent discussion sir, thanks for in-depth information within short span of time.